Company Registration No. 8350803 (England and Wales)
Logos Unlimited Limited
Filleted accounts
for the period from 1 March 2019 to 28 February 2020
Logos Unlimited Limited
Filleted accounts
Contents
Logos Unlimited Limited
Company Information
for the period from 1 March 2019 to 28 February 2020
Company Number
8350803 (England and Wales)
Registered Office
Unit 1, Sands Industrial Estate
Swalwell
Newcastle Upon Tyne
Tyne and Wear
NE16 3DJ
Accountants
Tony Turner Accountants
Spencer House
Market Lane, Swalwell
Newcastle upon Tyne
NE16 3DS
Logos Unlimited Limited
Statement of financial position
as at
28 February 2020
Intangible assets
1,000
1,000
Tangible assets
49,332
60,320
Inventories
45,000
45,000
Cash at bank and in hand
2,201
576
Creditors: amounts falling due within one year
(88,965)
(138,158)
Net current liabilities
(20,832)
(48,911)
Total assets less current liabilities
29,500
12,409
Creditors: amounts falling due after more than one year
(22,956)
-
Called up share capital
100
100
Profit and loss account
6,444
12,309
Shareholders' funds
6,544
12,409
For the period ending 28 February 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 26 February 2021 and were signed on its behalf by
B A Sinkinson
Director
Company Registration No. 8350803
Logos Unlimited Limited
Notes to the Accounts
for the period from 1 March 2019 to 28 February 2020
Logos Unlimited Limited is a private company, limited by shares, registered in England and Wales, registration number 8350803. The registered office is Unit 1, Sands Industrial Estate, Swalwell, Newcastle Upon Tyne, Tyne and Wear, NE16 3DJ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous period, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
These accounts have been prepared on the going concern basis due to the ongoing support of the directors and the bank facilities to meet the day to day operating cashflow requirements and anticipation of future profits which will make the company's statement of financial position solvent again. If this basis becomes inappropriate then assets would be written down to their recoverable amounts.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% reducing balance
Motor vehicles
25% reducing balance
Fixtures & fittings
20% straight line
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Logos Unlimited Limited
Notes to the Accounts
for the period from 1 March 2019 to 28 February 2020
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
4
Intangible fixed assets
Goodwill
At 28 February 2020
1,000
At 28 February 2020
1,000
At 28 February 2019
1,000
5
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 March 2019
133,431
7,708
10,518
5,250
156,907
Additions
350
-
-
1,085
1,435
At 28 February 2020
133,781
7,708
10,518
6,335
158,342
At 1 March 2019
79,998
6,337
8,662
1,590
96,587
Charge for the period
10,758
343
372
950
12,423
At 28 February 2020
90,756
6,680
9,034
2,540
109,010
At 28 February 2020
43,025
1,028
1,484
3,795
49,332
At 28 February 2019
53,433
1,371
1,856
3,660
60,320
Logos Unlimited Limited
Notes to the Accounts
for the period from 1 March 2019 to 28 February 2020
Trade debtors
18,345
41,084
Deferred tax asset
1,353
1,353
Accrued income and prepayments
1,234
1,234
7
Creditors: amounts falling due within one year
2020
2019
Bank loans and overdrafts
19,634
22,318
Obligations under finance leases and hire purchase contracts
-
(383)
Trade creditors
33,794
47,763
Taxes and social security
2,234
3,461
Other creditors
717
10,313
Loans from directors
25,086
47,186
The bank loan and overdraft is secured by way of a fixed and floating charge over all of the company's assets.
8
Creditors: amounts falling due after more than one year
2020
2019
9
Share capital
2020
2019
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
10
Average number of employees
During the period the average number of employees was 5 (2019: 5).