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REGISTERED NUMBER: 01742051 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

FOR

GEEPLUS EUROPE LIMITED

GEEPLUS EUROPE LIMITED (REGISTERED NUMBER: 01742051)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


GEEPLUS EUROPE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2022







DIRECTOR: J G Chapman





SECRETARY: J S Middleditch





REGISTERED OFFICE: Chart House
2 Effingham Road
Reigate
Surrey
RH2 7JN





REGISTERED NUMBER: 01742051 (England and Wales)





AUDITORS: John Williams & Co Limited
Chartered Certified Accountants
Statutory Auditors
Chart House
2 Effingham Road
Reigate
Surrey
RH2 7JN

GEEPLUS EUROPE LIMITED (REGISTERED NUMBER: 01742051)

BALANCE SHEET
31 DECEMBER 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,371,488 1,359,833

CURRENT ASSETS
Stocks 3,943,034 3,630,942
Debtors 5 1,294,740 818,480
Cash at bank and in hand 1,287,193 2,123,795
6,524,967 6,573,217
CREDITORS
Amounts falling due within one year 6 1,327,586 1,293,756
NET CURRENT ASSETS 5,197,381 5,279,461
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,568,869

6,639,294

PROVISIONS FOR LIABILITIES 8 257,842 255,026
NET ASSETS 6,311,027 6,384,268

CAPITAL AND RESERVES
Called up share capital 9 150,000 150,000
Retained earnings 10 6,161,027 6,234,268
SHAREHOLDERS' FUNDS 6,311,027 6,384,268

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 director and authorised for issue on 7 November 2023 and were signed by:





J G Chapman - Director


GEEPLUS EUROPE LIMITED (REGISTERED NUMBER: 01742051)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

1. STATUTORY INFORMATION

Geeplus Europe 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.

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.

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 and have been prepared in British pound sterling.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 - 15% on cost
Fixtures and fittings - 10% on cost
Computer equipment - 20% 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 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.

Research and development
Expenditure on design and general development is written off in the year in which it is incurred.

GEEPLUS EUROPE LIMITED (REGISTERED NUMBER: 01742051)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022

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 transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Leasing commitments
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 37 (2021 - 39 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 January 2022 2,240,507 149,554 208,300 2,598,361
Additions 310,969 17,268 4,044 332,281
At 31 December 2022 2,551,476 166,822 212,344 2,930,642
DEPRECIATION
At 1 January 2022 981,381 70,432 186,715 1,238,528
Charge for year 298,652 13,670 8,304 320,626
At 31 December 2022 1,280,033 84,102 195,019 1,559,154
NET BOOK VALUE
At 31 December 2022 1,271,443 82,720 17,325 1,371,488
At 31 December 2021 1,259,126 79,122 21,585 1,359,833

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 865,384 398,095
Other debtors 166,605 173,618
VAT 154,201 221,254
Prepayments 108,550 25,513
1,294,740 818,480

GEEPLUS EUROPE LIMITED (REGISTERED NUMBER: 01742051)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade creditors 190,712 182,834
Amounts owed to group undertakings 1,019,396 1,017,500
Tax 37,820 37,357
Social security and other taxes 24,825 36,699
Other creditors 4,264 2,436
Accruals and deferred income 50,569 16,930
1,327,586 1,293,756

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2022 2021
£    £   
Within one year 277,675 208,401
Between one and five years 1,388,375 134,563
In more than five years 370,233 -
2,036,283 342,964

8. PROVISIONS FOR LIABILITIES
2022 2021
£    £   
Deferred tax 257,842 255,026

Deferred
tax
£   
Balance at 1 January 2022 255,026
Accelerated capital allowances 2,816
Balance at 31 December 2022 257,842

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
150,000 Ordinary £1 150,000 150,000

10. RESERVES
Retained
earnings
£   

At 1 January 2022 6,234,268
Deficit for the year (73,241 )
At 31 December 2022 6,161,027

GEEPLUS EUROPE LIMITED (REGISTERED NUMBER: 01742051)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022

11. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

M R Wilson FCCA (Senior Statutory Auditor)
for and on behalf of John Williams & Co Limited

12. FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

13. CONTROL

The company is under the control of J G Chapman Esq, the director of the company.