Registered number
09912818
GEO20 Limited
Accounts for the year ended
31 December 2023
GEO20 Limited
Registered number: 09912818
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 5,086 6,358
Current assets
Debtors 4 74,462 120,618
Cash at bank and in hand 91,472 297,624
165,934 418,242
Creditors: amounts falling due within one year 5 (55,844) (158,980)
Net current assets 110,090 259,262
Total assets less current liabilities 115,176 265,620
Creditors: amounts falling due after more than one year 6 (14,167) (24,167)
Net assets 101,009 241,453
Capital and reserves
Called up share capital 200 200
Profit and loss account 100,809 241,253
Shareholders' funds 101,009 241,453
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
A Crouch
Director
Approved by the board on 5 August 2024
GEO20 Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment 20% on written down value
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 10 10
3 Tangible fixed assets
Plant and machinery etc Total
£ £
Cost
At 1 January 2023 13,889 13,889
At 31 December 2023 13,889 13,889
Depreciation
At 1 January 2023 7,531 7,531
Charge for the year 1,272 1,272
At 31 December 2023 8,803 8,803
Net book value
At 31 December 2023 5,086 5,086
At 31 December 2022 6,358 6,358
4 Debtors 2023 2022
£ £
Trade debtors 60,728 107,124
Other debtors 13,734 13,494
74,462 120,618
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 10,000 10,000
Trade creditors 36,826 77,279
Taxation and social security costs 5,121 68,201
Other creditors 3,897 3,500
55,844 158,980
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 14,167 24,167
14,167 24,167
7 Controlling party
The ultimate controlling party is A. Crouch.
8 Other information
GEO20 Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 23, Capital Business Centre
Carlton Road
South Croydon
Surrey
CR2 0BS
GEO20 Limited 09912818 false 2023-01-01 2023-12-31 2023-12-31 VT Final Accounts April 2024 A Crouch No description of principal activity 09912818 2022-01-01 2022-12-31 09912818 core:WithinOneYear 2022-12-31 09912818 core:AfterOneYear 2022-12-31 09912818 core:ShareCapital 2022-12-31 09912818 core:RetainedEarningsAccumulatedLosses 2022-12-31 09912818 2023-01-01 2023-12-31 09912818 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 09912818 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 09912818 bus:Director40 2023-01-01 2023-12-31 09912818 1 2023-01-01 2023-12-31 09912818 2 2023-01-01 2023-12-31 09912818 core:PlantMachinery 2023-01-01 2023-12-31 09912818 countries:England 2023-01-01 2023-12-31 09912818 bus:FRS102 2023-01-01 2023-12-31 09912818 bus:FilletedAccounts 2023-01-01 2023-12-31 09912818 2023-12-31 09912818 core:WithinOneYear 2023-12-31 09912818 core:AfterOneYear 2023-12-31 09912818 core:ShareCapital 2023-12-31 09912818 core:RetainedEarningsAccumulatedLosses 2023-12-31 09912818 core:PlantMachinery 2023-12-31 09912818 2022-12-31 09912818 core:PlantMachinery 2022-12-31 iso4217:GBP xbrli:pure