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REGISTERED NUMBER: SC340506 (Scotland)












Financial Statements for the Year Ended 31 March 2024

for

GEDDEYE LTD

GEDDEYE LTD (REGISTERED NUMBER: SC340506)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GEDDEYE LTD

Company Information
for the Year Ended 31 March 2024







DIRECTOR: LR Geddes





REGISTERED OFFICE: 12 Traill Drive
Montrose
Angus
DD10 8SW





REGISTERED NUMBER: SC340506 (Scotland)





ACCOUNTANTS: Account Tax Ltd
Chartered Certified Accountants
12 Traill Drive
Montrose
Angus
DD10 8SW

GEDDEYE LTD (REGISTERED NUMBER: SC340506)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 15,297 37,551

CURRENT ASSETS
Debtors 5 - 1,755
Cash at bank 78,989 37,273
78,989 39,028
CREDITORS
Amounts falling due within one year 6 26,686 45,739
NET CURRENT ASSETS/(LIABILITIES) 52,303 (6,711 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

67,600

30,840

CREDITORS
Amounts falling due after more than one
year

7

(28,006

)

-

PROVISIONS FOR LIABILITIES (2,906 ) (16,912 )
NET ASSETS 36,688 13,928

CAPITAL AND RESERVES
Called up share capital 6 6
Retained earnings 36,682 13,922
SHAREHOLDERS' FUNDS 36,688 13,928

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

GEDDEYE LTD (REGISTERED NUMBER: SC340506)

Balance Sheet - continued
31 March 2024


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 Profit & Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 19 July 2024 and were signed by:





LR Geddes - Director


GEDDEYE LTD (REGISTERED NUMBER: SC340506)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Geddeye Ltd is a private company, limited by shares , registered in Scotland. 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.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, 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 material 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.

GEDDEYE LTD (REGISTERED NUMBER: SC340506)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2023 157,567 37,918 2,680 198,165
Disposals (118,129 ) - - (118,129 )
At 31 March 2024 39,438 37,918 2,680 80,036
DEPRECIATION
At 1 April 2023 129,254 28,904 2,456 160,614
Charge for year 2,844 2,254 224 5,322
Eliminated on disposal (101,197 ) - - (101,197 )
At 31 March 2024 30,901 31,158 2,680 64,739
NET BOOK VALUE
At 31 March 2024 8,537 6,760 - 15,297
At 31 March 2023 28,313 9,014 224 37,551

GEDDEYE LTD (REGISTERED NUMBER: SC340506)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:
Plant and
machinery
£   
COST
At 1 April 2023
and 31 March 2024 49,000
DEPRECIATION
At 1 April 2023
and 31 March 2024 42,051
NET BOOK VALUE
At 31 March 2024 6,949
At 31 March 2023 6,949

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 970
Other debtors - 785
- 1,755

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 4,718 37,442
Taxation and social security 12,032 (1,502 )
Other creditors 9,936 9,799
26,686 45,739

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 28,006 -

8. RELATED PARTY DISCLOSURES

The company was under the control of L Geddes, the director, throughout the current and previous year.

As at 31st March 2024 included in other creditors, is a balance outstanding due to the director of £9,188 (2023 - £9,799). No interest was paid on this loan.