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Registration number: 10324852

Geosho Technology Limited

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 August 2023

 

Geosho Technology Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 8

 

Geosho Technology Limited

Company Information

Directors

S Fisher

R Fisher

Registered office

Unit 3
Coped Hall Business Park
Royal Wootton Bassett
Swindon
Wiltshire
SN4 8DP

Accountants

Orleigh Fox Accounting Limited
Chartered Accountants
33a Newleaze
Trowbridge
Wiltshire
BA14 7SD

 

Geosho Technology Limited

(Registration number: 10324852)
Abridged Balance Sheet as at 31 August 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

-

991

Current assets

 

Cash at bank and in hand

 

2,770

1,186

Prepayments and accrued income

 

-

18,000

Creditors: Amounts falling due within one year

(151)

(107,856)

Net current assets/(liabilities)

 

2,619

(88,670)

Total assets less current liabilities

 

2,619

(87,679)

Provisions for liabilities

-

(17)

Accruals and deferred income

 

(600)

(10,849)

Net assets/(liabilities)

 

2,019

(98,545)

Capital and reserves

 

Called up share capital

5

100

100

Retained earnings

1,919

(98,645)

Shareholders' funds/(deficit)

 

2,019

(98,545)

For the financial year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

 

Geosho Technology Limited

(Registration number: 10324852)
Abridged Balance Sheet as at 31 August 2023

Approved and authorised by the Board on 5 November 2023 and signed on its behalf by:
 

.........................................
S Fisher
Director

 

Geosho Technology Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2023

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Unit 3
Coped Hall Business Park
Royal Wootton Bassett
Swindon
Wiltshire
SN4 8DP
England

These financial statements were authorised for issue by the Board on 5 November 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Revenue recognition

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Geosho Technology Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and equipment

20% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

Geosho Technology Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2023

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Geosho Technology Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2023

Going concern

These financial statements are prepared on the going concern basis. Both the directors and the parent company will continue to support the company for the foreseeable future. At the time of approving the financial statements, the directors therefore have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis in preparing the financial statements.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 September 2022

5,118

5,118

At 31 August 2023

5,118

5,118

Depreciation

At 1 September 2022

4,127

4,127

Charge for the year

991

991

At 31 August 2023

5,118

5,118

Carrying amount

At 31 August 2023

-

-

At 31 August 2022

991

991

5

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary A of £1 each

75

75

75

75

Ordinary B of £1 each

25

25

25

25

 

100

100

100

100

 

Geosho Technology Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2023

 

6

Parent entity

The company is a 100% subsidiary of Logitek Software Limited, a company incorporated in England & Wales. Its registered office is 1 The Beeches, Lydiard Millicent, Swindon, United Kingdom, SN5 3LT.