Geo2 Holdings Limited 11096261 false 2022-03-01 2023-02-28 2023-02-28 The principal activity of the company is Holding company Digita Accounts Production Advanced 6.30.9574.0 true false 11096261 2022-03-01 2023-02-28 11096261 2023-02-28 11096261 bus:OrdinaryShareClass1 2023-02-28 11096261 core:RetainedEarningsAccumulatedLosses 2023-02-28 11096261 core:ShareCapital 2023-02-28 11096261 core:CurrentFinancialInstruments 2023-02-28 11096261 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 11096261 core:Non-currentFinancialInstruments 2023-02-28 11096261 core:Non-currentFinancialInstruments core:AfterOneYear 2023-02-28 11096261 core:CostValuation 2023-02-28 11096261 core:LandBuildings core:OwnedOrFreeholdAssets 2023-02-28 11096261 core:MotorVehicles 2023-02-28 11096261 core:OfficeEquipment 2023-02-28 11096261 core:PlantMachinery 2023-02-28 11096261 bus:SmallEntities 2022-03-01 2023-02-28 11096261 bus:AuditExemptWithAccountantsReport 2022-03-01 2023-02-28 11096261 bus:FullAccounts 2022-03-01 2023-02-28 11096261 bus:SmallCompaniesRegimeForAccounts 2022-03-01 2023-02-28 11096261 bus:RegisteredOffice 2022-03-01 2023-02-28 11096261 bus:Director3 2022-03-01 2023-02-28 11096261 bus:OrdinaryShareClass1 2022-03-01 2023-02-28 11096261 bus:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 11096261 core:LandBuildings 2022-03-01 2023-02-28 11096261 core:LandBuildings core:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 11096261 core:MotorVehicles 2022-03-01 2023-02-28 11096261 core:OfficeEquipment 2022-03-01 2023-02-28 11096261 core:PlantMachinery 2022-03-01 2023-02-28 11096261 countries:England 2022-03-01 2023-02-28 11096261 2022-02-28 11096261 core:CostValuation 2022-02-28 11096261 core:LandBuildings core:OwnedOrFreeholdAssets 2022-02-28 11096261 core:MotorVehicles 2022-02-28 11096261 core:OfficeEquipment 2022-02-28 11096261 core:PlantMachinery 2022-02-28 11096261 2021-03-01 2022-02-28 11096261 2022-02-28 11096261 bus:OrdinaryShareClass1 2022-02-28 11096261 core:RetainedEarningsAccumulatedLosses 2022-02-28 11096261 core:ShareCapital 2022-02-28 11096261 core:CurrentFinancialInstruments 2022-02-28 11096261 core:CurrentFinancialInstruments core:WithinOneYear 2022-02-28 11096261 core:Non-currentFinancialInstruments 2022-02-28 11096261 core:Non-currentFinancialInstruments core:AfterOneYear 2022-02-28 11096261 core:LandBuildings core:OwnedOrFreeholdAssets 2022-02-28 11096261 core:MotorVehicles 2022-02-28 11096261 core:OfficeEquipment 2022-02-28 11096261 core:PlantMachinery 2022-02-28 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 11096261

Geo2 Holdings Limited

Filleted Unaudited Financial Statements

for the Year Ended 28 February 2023

 

Geo2 Holdings Limited

(Registration number: 11096261)
Balance Sheet as at 28 February 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

495,861

515,450

Investments

5

113

113

 

495,974

515,563

Current assets

 

Debtors

6

61,793

156,027

Cash at bank and in hand

 

115,362

120,616

 

177,155

276,643

Creditors: Amounts falling due within one year

7

(171,526)

(177,397)

Net current assets

 

5,629

99,246

Total assets less current liabilities

 

501,603

614,809

Creditors: Amounts falling due after more than one year

7

(104,282)

(199,642)

Net assets

 

397,321

415,167

Capital and reserves

 

Called up share capital

9

222

222

Retained earnings

397,099

414,945

Shareholders' funds

 

397,321

415,167

 

Geo2 Holdings Limited

(Registration number: 11096261)
Balance Sheet as at 28 February 2023

For the financial year ending 28 February 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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 28 November 2023 and signed on its behalf by:
 


Mr P D Stapleton
Director

   
 

Geo2 Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

1

General information

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

The address of its registered office is:
50-54 Oswald Road
Scunthorpe
North Lincolnshire
DN15 7PQ

The company's registration number is 1109261

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 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 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.

Group accounts not prepared

The company is part of a small group. The company has taken advantage of the exemption provided by Section 398 of the Companies Act 2006 and has not prepared group accounts.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of rent and services in the ordinary course of the company’s activities. Turnover is shown net of returns.

The company recognises revenue when: the amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.

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.

 

Geo2 Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 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,over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land and buildings

2% per annum straight line

Plant and machinery

25% per annum on written down value

Office equipment

25% per annum on written down value

Motor vehicles

25% per annum on written down value

Investments

Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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 services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price.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.

 

Geo2 Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

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 at the transaction price.

Borrowings

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year was 3 (2022 - 3).

 

Geo2 Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

4

Tangible assets

Land and buildings
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 March 2022

508,233

10,606

18,902

40,103

577,844

At 28 February 2023

508,233

10,606

18,902

40,103

577,844

Depreciation

At 1 March 2022

30,475

4,324

8,108

19,487

62,394

Charge for the year

10,165

1,571

2,699

5,154

19,589

At 28 February 2023

40,640

5,895

10,807

24,641

81,983

Carrying amount

At 28 February 2023

467,593

4,711

8,095

15,462

495,861

At 28 February 2022

477,758

6,282

10,794

20,616

515,450

Included within the net book value of land and buildings above is £467,593 (2022 - £477,758) in respect of freehold land and buildings.
 

5

Investments

2023
£

2022
£

Investments in subsidiaries

113

113

Subsidiaries

£

Cost or valuation

At 1 March 2022

113

At 28 February 2023

113

Carrying amount

At 28 February 2023

113

At 28 February 2022

113

 

Geo2 Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

6

Debtors

2023
£

2022
£

Trade debtors

3,600

31,800

Amounts owed by group undertakings

8,888

80,046

Other debtors

49,305

44,181

 

61,793

156,027

7

Creditors

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

92,500

78,500

Trade creditors

 

76,150

76,834

Social security and other taxes

 

1,666

4,975

Accruals

 

1,210

17,088

 

171,526

177,397

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

104,282

199,642

 

Geo2 Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

8

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Bank borrowings

92,500

78,500

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

104,282

199,642

Some of the company borrowings are secured against the assets of the company.
The amounts are as follows:

Due within one year - £29,784 (2022 - £22,500).
Due after one year - £85,332 (2022 - £112,726).

 

9

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

222

222

222

222