Force Logic UK Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06603297 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 June 2021

for

Force Logic UK Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

T R Williams

SECRETARY:

T R Williams

REGISTERED OFFICE:

N4 Lambs Farm Business Park

Basingstoke Road

Swallowfield

Reading

Berkshire

RG7 1PQ

REGISTERED NUMBER:

06603297 (England and Wales)

ACCOUNTANTS:

Lane Monnington Welton

Chartered Accountants

Riverside View

Basing Road

Old Basing

Basingstoke

Hampshire

RG24 7AL

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

7,759

9,624

7,759

9,624

CURRENT ASSETS

Stocks

29,000

21,000

Debtors

6

42,593

35,993

Cash at bank

86,444

32,975

158,037

89,968

CREDITORS

Amounts falling due within one year

7

84,158

47,498

NET CURRENT ASSETS

73,879

42,470

TOTAL ASSETS LESS CURRENT LIABILITIES

81,638

52,094

CREDITORS

Amounts falling due after more than one year

8

-

(4,118

)

PROVISIONS FOR LIABILITIES

11

(1,166

)

(1,459

)

NET ASSETS

80,472

46,517

CAPITAL AND RESERVES

Called up share capital

12

1,000

1,000

Retained earnings

79,472

45,517

SHAREHOLDERS' FUNDS

80,472

46,517

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 9 August 2021 and were signed by:

T R Williams - Director

1.	STATUTORY INFORMATION

Force Logic UK Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Leasehold Improvements

-

10% on cost

Plant and machinery

-

25% on cost

Computer equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

Debtors and creditors payable/receivable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Loans and borrowings

Loans and borrowings are initially recognised at the transaction price, including transaction costs. Subsequently they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date, adjusted for indexation where applicable.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Impairment

Assets not measured at fair value are reviewed for any indication that an asset may be impaired at each balance sheet date. The directors review the carrying amount of the relevant assets and compare them to their market values and recoverable amounts. Where the carrying amount exceeds this, an impairment loss is recognised in profit or loss, unless the asset is carried at a revalued amount, where the impairment loss is a revaluation decrease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2020 - 3 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 July 2020

and 30 June 2021

16,000

AMORTISATION

At 1 July 2020

and 30 June 2021

16,000

NET BOOK VALUE

At 30 June 2021

-

At 30 June 2020

-

5.	TANGIBLE FIXED ASSETS

Leasehold

Plant and

Computer

Improvements

machinery

equipment

Totals

£

£

£

£

COST

At 1 July 2020

15,000

4,755

1,941

21,696

Disposals

-

-

(847

)

(847

)

At 30 June 2021

15,000

4,755

1,094

20,849

DEPRECIATION

At 1 July 2020

6,000

4,755

1,317

12,072

Charge for year

1,500

-

365

1,865

Eliminated on disposal

-

-

(847

)

(847

)

At 30 June 2021

7,500

4,755

835

13,090

NET BOOK VALUE

At 30 June 2021

7,500

-

259

7,759

At 30 June 2020

9,000

-

624

9,624

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.21

30.6.20

£

£

Trade debtors

30,253

20,190

Other debtors

12,340

15,803

42,593

35,993

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.21

30.6.20

£

£

Bank loans and overdrafts

3,957

5,330

Trade creditors

43,684

12,217

Taxation and social security

34,588

28,022

Other creditors

1,929

1,929

84,158

47,498

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.6.21

30.6.20

£

£

Bank loans

-

4,118

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

30.6.21

30.6.20

£

£

Within one year

20,250

20,250

Between one and five years

81,000

81,000

In more than five years

20,250

40,500

121,500

141,750

10.	SECURED DEBTS

The following secured debts are included within creditors:

30.6.21

30.6.20

£

£

Bank loans

3,957

9,448

The bank loan is secured by a fixed and floating charge over the assets of the company together with a personal guarantee from the director.

11.	PROVISIONS FOR LIABILITIES

30.6.21

30.6.20

£

£

Deferred tax

1,166

1,459

Deferred

tax

£

Balance at 1 July 2020

1,459

Accelerated capital allowances

(293

)

Balance at 30 June 2021

1,166

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.21

30.6.20

value:

£

£

1,000

Ordinary

£1

1,000

1,000