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31/12/2021
2021-12-31
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No description of principal activities is disclosed
2021-01-01
Sage Accounts Production 21.0 - FRS102_2021
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Company registration number:
SC496376
GEO Certification
Company limited by guarantee
Unaudited filleted abridged financial statements
31 December 2021
GEO Certification
Company limited by guarantee
Contents
Directors and other information
Accountants report
Abridged statement of financial position
Notes to the financial statements
GEO Certification
Company limited by guarantee
Directors and other information
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Directors |
G Shepherd |
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J A Smith |
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Company number |
SC496376 |
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Registered office |
2 Quality Street |
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North Berwick |
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East Lothian |
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EH39 4HW |
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Accountants |
Paterson Boyd & Co |
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Chartered Accountants |
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18 North Street |
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Glenrothes |
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Fife |
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KY7 5NA |
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GEO Certification
Company limited by guarantee
Report to the board of directors on the preparation of the
unaudited statutory financial statements of GEO Certification
Year ended 31 December 2021
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of GEO Certification for the year ended 31 December 2021 which comprise the abridged statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of ICAS , we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.
This report is made solely to the board of directors of GEO Certification, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of GEO Certification and state those matters that we have agreed to state to the board of directors of GEO Certification as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than GEO Certification and its board of directors as a body for our work or for this report.
It is your duty to ensure that GEO Certification has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of GEO Certification. You consider that GEO Certification is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of GEO Certification. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Paterson Boyd & Co
Chartered Accountants
18 North Street
Glenrothes
Fife
KY7 5NA
2 September 2022
GEO Certification
Company limited by guarantee
Abridged statement of financial position
31 December 2021
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2021 |
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2020 |
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Note |
£ |
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£ |
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£ |
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£ |
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Current assets |
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Debtors |
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700 |
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7,950 |
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_______ |
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_______ |
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700 |
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7,950 |
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Creditors: amounts falling due |
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within one year |
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(
700) |
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(
7,950) |
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_______ |
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_______ |
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Total assets less current liabilities |
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- |
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- |
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_______ |
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_______ |
Net assets |
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- |
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- |
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_______ |
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_______ |
Capital and reserves |
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Profit and loss account |
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- |
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- |
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_______ |
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Members funds |
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- |
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- |
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_______ |
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For the year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.
All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the current year ending 31 December 2021 in accordance with Section 444(2A) of the Companies Act 2006.
These financial statements were approved by the
board of directors
and authorised for issue on
02 September 2022
, and are signed on behalf of the board by:
J A Smith
Director
Company registration number:
SC496376
GEO Certification
Company limited by guarantee
Notes to the financial statements
Year ended 31 December 2021
1.
General information
The company is a private company limited by guarantee, registered in Scotland. The address of the registered office is 2 Quality Street, North Berwick, East Lothian, EH39 4HW.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.Where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4.
Limited by guarantee
GEO Certification
is a company limited by guarantee and has no share capital. Each member of the company has undertaken to contribute an amount not exceeding £1 towards any deficit arising in the event of the company being placed in liquidation.
5.
Employee numbers
The average number of persons employed by the company during the year amounted to
1
(2020:
1
).
6.
Related party transactions
During the year a grant of £18,423 (2020: £24,873) was received from GEO Foundation Limited, the sole member of GEO Certification.At the balance sheet date the company was due £700 from (2020: £6,372 to) GEO Foundation Limited.