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Company Registration No. 11721304 (England and Wales)
GEORDIELAND LTD Unaudited accounts for the year ended 31 December 2022
GEORDIELAND LTD Unaudited accounts Contents
Page
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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
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GEORDIELAND LTD Statement of financial position as at 31 December 2022
2022 
2021 
Notes
£ 
£ 
Fixed assets
Intangible assets
84,000 
84,000 
Tangible assets
58,019 
61,044 
142,019 
145,044 
Current assets
Inventories
3,000 
3,000 
Debtors
930 
7,966 
Cash at bank and in hand
13,220 
7,052 
17,150 
18,018 
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)
Capital and reserves
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
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GEORDIELAND LTD Notes to the Accounts for the year ended 31 December 2022
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
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
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Going concern
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.
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GEORDIELAND LTD Notes to the Accounts for the year ended 31 December 2022
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 January 2022
84,000 
At 31 December 2022
84,000 
Amortisation
At 1 January 2022
- 
At 31 December 2022
- 
Net book value
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 
Depreciation
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 
Net book value
At 31 December 2022
19,082 
37,752 
1,185 
58,019 
At 31 December 2021
16,315 
44,414 
315 
61,044 
6
Debtors
2022 
2021 
£ 
£ 
Amounts falling due within one year
VAT
- 
7,037 
Trade debtors
83 
83 
Accrued income and prepayments
757 
756 
Other debtors
90 
90 
930 
7,966 
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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 
Other creditors
252 
- 
Loans from directors
21,618 
54,468 
150,054 
193,524 
8
Creditors: amounts falling due after more than one year
2022 
2021 
£ 
£ 
Bank loans
201,484 
111,139 
Taxes and social security
6,113 
- 
207,597 
111,139 
9
Average number of employees
During the year the average number of employees was 21 (2021: 20).
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