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REGISTERED NUMBER: 07405304 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

Geopace Limited

Geopace Limited (Registered number: 07405304)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Geopace Limited

Company Information
for the Year Ended 31 March 2023







DIRECTOR: S A Eagleton





REGISTERED OFFICE: 1 Grove Place
Bedford
Bedfordshire
MK40 3JJ





REGISTERED NUMBER: 07405304 (England and Wales)





ACCOUNTANTS: Thompsons Accountancy Services Limited
Chartered Accountants
Grove House
1 Grove Place
Bedford
Bedfordshire
MK40 3JJ

Geopace Limited (Registered number: 07405304)

Statement of Financial Position
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 830 1,637

CURRENT ASSETS
Stocks 17,753 19,300
Debtors 6 22,025 21,387
Cash at bank 217,240 257,121
257,018 297,808
CREDITORS
Amounts falling due within one year 7 135,237 172,027
NET CURRENT ASSETS 121,781 125,781
TOTAL ASSETS LESS CURRENT
LIABILITIES

122,611

127,418

CREDITORS
Amounts falling due after more than one
year

8

(22,500

)

(32,500

)

PROVISIONS FOR LIABILITIES (208 ) (311 )
NET ASSETS 99,903 94,607

CAPITAL AND RESERVES
Allotted, called up and fully
paid share capital 100 100
Retained earnings 99,803 94,507
SHAREHOLDERS' FUNDS 99,903 94,607

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

Geopace Limited (Registered number: 07405304)

Statement of Financial Position - continued
31 March 2023


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 2 October 2023 and were signed by:





S A Eagleton - Director


Geopace Limited (Registered number: 07405304)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Geopace Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents the provision of training services, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 33% on cost
Fixtures and fittings - 15% 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.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

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.

Geopace Limited (Registered number: 07405304)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

3. ACCOUNTING POLICIES - continued

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 April 2022
and 31 March 2023 2,454 1,851 18,609 22,914
DEPRECIATION
At 1 April 2022 2,454 1,829 16,994 21,277
Charge for year - 22 785 807
At 31 March 2023 2,454 1,851 17,779 22,084
NET BOOK VALUE
At 31 March 2023 - - 830 830
At 31 March 2022 - 22 1,615 1,637

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 5,843 4,642
Other debtors 2,293 2,272
Tax 5,332 5,740
Prepayments 8,557 8,733
22,025 21,387

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 5,216 34,548
Tax 33,644 38,915
VAT 44,437 33,549
Other creditors 3,728 13,767
Pension control 292 190
Directors' current accounts 475 67
Deferred income 34,195 38,261
Accrued expenses 3,250 2,730
135,237 172,027

Geopace Limited (Registered number: 07405304)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Bank loans - 1-2 years 10,000 10,000
Bank loans - 2-5 years 12,500 22,500
22,500 32,500