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REGISTERED NUMBER: 02322921 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

GEO SUPPLIES LTD

GEO SUPPLIES LTD (REGISTERED NUMBER: 02322921)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GEO SUPPLIES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: Mr C J Darmon
Mr L Sims
Mr P Vickers



SECRETARY: Mr L Sims



REGISTERED OFFICE: 49 Station Road
Chapeltown
Sheffield
South Yorkshire
S35 2XE



REGISTERED NUMBER: 02322921 (England and Wales)



ACCOUNTANTS: Gibson Booth Limited
12 Victoria Road
Barnsley
South Yorkshire
S70 2BB



BANKERS: Lloyds TSB Bank Plc
103 Norfolk Street
Sheffield
South Yorkshire
S1 1ST

GEO SUPPLIES LTD (REGISTERED NUMBER: 02322921)

BALANCE SHEET
31 MARCH 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 49,339 49,863
49,339 49,863

CURRENT ASSETS
Stocks 6 52,562 55,008
Debtors 7 12,072 32,519
Cash at bank and in hand 209,843 195,405
274,477 282,932
CREDITORS
Amounts falling due within one year 8 130,102 168,218
NET CURRENT ASSETS 144,375 114,714
TOTAL ASSETS LESS CURRENT LIABILITIES 193,714 164,577

PROVISIONS FOR LIABILITIES 2,224 1,938
NET ASSETS 191,490 162,639

CAPITAL AND RESERVES
Called up share capital 9 79,500 79,500
Retained earnings 111,990 83,139
SHAREHOLDERS' FUNDS 191,490 162,639

GEO SUPPLIES LTD (REGISTERED NUMBER: 02322921)

BALANCE SHEET - continued
31 MARCH 2023


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 directors acknowledge their 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 November 2023 and were signed on its behalf by:





Mr C J Darmon - Director


GEO SUPPLIES LTD (REGISTERED NUMBER: 02322921)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

Geo Supplies 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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest pound.

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.

Significant judgements and estimates
No judgements have been made in the process of applying the below accounting policies that have had the most significant effect on amounts recognised in the financial statements.

There are no key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date that have a significant risk of causing material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Turnover
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.

Turnover is recognised once the goods or services have been supplied and invoiced to the customer.

Intangible fixed assets
Amortisation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Website development - 20% on cost

GEO SUPPLIES LTD (REGISTERED NUMBER: 02322921)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Freehold property - 2% on cost
Fixtures and fittings - 10% on reducing balance
Office equipment - 25% on reducing balance

Tangible fixed assets are originally recognised at cost (or deemed cost). Cost includes costs directly attributable to making the asset capable of operating as intended.

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 Income Statement, 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.

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.

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.

GEO SUPPLIES LTD (REGISTERED NUMBER: 02322921)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Website
development
costs
£   
COST
At 1 April 2022
and 31 March 2023 5,308
AMORTISATION
At 1 April 2022
and 31 March 2023 5,308
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

GEO SUPPLIES LTD (REGISTERED NUMBER: 02322921)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Office
property fittings equipment Totals
£    £    £    £   
COST
At 1 April 2022 68,155 25,143 55,353 148,651
Additions - - 2,990 2,990
At 31 March 2023 68,155 25,143 58,343 151,641
DEPRECIATION
At 1 April 2022 29,155 21,151 48,482 98,788
Charge for year 1,365 400 1,749 3,514
At 31 March 2023 30,520 21,551 50,231 102,302
NET BOOK VALUE
At 31 March 2023 37,635 3,592 8,112 49,339
At 31 March 2022 39,000 3,992 6,871 49,863

6. STOCKS
31.3.23 31.3.22
£    £   
Stocks 52,562 55,008

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 6,953 12,051
Other debtors 1,445 -
Called up share capital not paid - 2,000
Prepayments and accrued income 3,674 18,468
12,072 32,519

GEO SUPPLIES LTD (REGISTERED NUMBER: 02322921)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade creditors 15,353 6,203
Corporation tax 9,643 -
Social security and other taxes 2,857 2,819
VAT 9,835 13,854
Other creditors 704 450
Accruals and deferred income 91,710 144,892
130,102 168,218

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
60,000 'A' Ordinary £1 60,000 60,000
5,000 'B' Ordinary £1 5,000 5,000
2,500 'C' Ordinary £1 2,500 2,500
10,000 'D' Ordinary £1 10,000 10,000
1,000 'E' Ordinary £1 1,000 1,000
1,000 'F' Ordinary £1 1,000 1,000
79,500 79,500