Company Registration No. 11721304 (England and Wales)
GEORDIELAND LTD
Unaudited accounts
for the year ended 31 December 2022
GEORDIELAND LTD
Unaudited accounts
Contents
GEORDIELAND LTD
Company Information
for the year ended 31 December 2022
Directors
Michael Taylor
Samantha Taylor
Company Number
11721304 (England and Wales)
Registered Office
15E FOLLINGSBY PARK
GATESHEAD
TYNE & WEAR
NE10 8YG
ENGLAND
Accountants
Scott Accountancy Services
119 Lanchester Avenue
Gateshead
Tyne & Wear
NE9 7AN
GEORDIELAND LTD
Statement of financial position
as at 31 December 2022
Intangible assets
84,000
84,000
Tangible assets
58,019
61,044
Cash at bank and in hand
13,220
7,052
Creditors: amounts falling due within one year
(150,054)
(193,524)
Net current liabilities
(132,904)
(175,506)
Total assets less current liabilities
9,115
(30,462)
Creditors: amounts falling due after more than one year
(207,597)
(111,139)
Net liabilities
(198,482)
(141,601)
Called up share capital
2
2
Profit and loss account
(198,484)
(141,603)
Shareholders' funds
(198,482)
(141,601)
For the year ending 31 December 2022 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 directors acknowledge their 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 of Directors and authorised for issue on 29 September 2023 and were signed on its behalf by
Michael Taylor
Director
Company Registration No. 11721304
GEORDIELAND LTD
Notes to the Accounts
for the year ended 31 December 2022
GEORDIELAND LTD is a private company, limited by shares, registered in England and Wales, registration number 11721304. The registered office is 15E FOLLINGSBY PARK, GATESHEAD, TYNE & WEAR, NE10 8YG, ENGLAND.
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.
It should be noted that loan account closing balances remain unverified and no interest relating to these has been reflected in the accounts. It is expected that any actual balances would be correspondingly higher than the balances shown within these statements and correspondingly the loss made would be equally higher than shown.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, 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.
The accounts are presented in £ sterling.
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
15% Reducing Balance
Fixtures & fittings
15% Reducing Balance
Computer equipment
33.33% Straight Line
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
The directors have expressed concerns relating to the viability of the business and believe it to be prudent to warn that the high levels of indebtedness needed by the company to survive the Covid19 Pandemic and restrictions may eventually prove to be too high for the company to carry.
With this in mind they have sought during the period to restructure and remain in negotiation with creditors to gain whatever advantages may be available to see the company through until the nursery and after school club segment of the business makes returns.
They remain in negotiations with several large employers to become officially approved and recommended child care of each and remain optimistic that some of these negotiations will prove fruitful.
It should be borne in mind that they believe the current situation to be a simple matter of time versus cash equation and take the opportunity to state this prudent assessment of the situation.
GEORDIELAND LTD
Notes to the Accounts
for the year ended 31 December 2022
4
Intangible fixed assets
Goodwill
At 31 December 2022
84,000
At 31 December 2022
84,000
At 31 December 2021
84,000
5
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 January 2022
19,253
69,717
1,350
90,320
Additions
6,134
-
1,539
7,673
At 31 December 2022
25,387
69,717
2,889
97,993
At 1 January 2022
2,938
25,303
1,035
29,276
Charge for the year
3,367
6,662
669
10,698
At 31 December 2022
6,305
31,965
1,704
39,974
At 31 December 2022
19,082
37,752
1,185
58,019
At 31 December 2021
16,315
44,414
315
61,044
Amounts falling due within one year
Accrued income and prepayments
757
756
GEORDIELAND LTD
Notes to the Accounts
for the year ended 31 December 2022
7
Creditors: amounts falling due within one year
2022
2021
Bank loans and overdrafts
45,500
45,500
Obligations under finance leases and hire purchase contracts
-
4,007
Trade creditors
82,684
89,297
Amounts owed to group undertakings and other participating interests
-
252
Loans from directors
21,618
54,468
8
Creditors: amounts falling due after more than one year
2022
2021
Bank loans
201,484
111,139
Taxes and social security
6,113
-
9
Average number of employees
During the year the average number of employees was 21 (2021: 20).