Geo2 Remediation Limited 04638532 false 2023-03-01 2024-02-29 2024-02-29 The principal activity of the company is that of environmental consultancy and contracting Digita Accounts Production Advanced 6.30.9574.0 true 04638532 2023-03-01 2024-02-29 04638532 2024-02-29 04638532 bus:OrdinaryShareClass1 2024-02-29 04638532 core:RetainedEarningsAccumulatedLosses 2024-02-29 04638532 core:ShareCapital 2024-02-29 04638532 core:CurrentFinancialInstruments 2024-02-29 04638532 core:CurrentFinancialInstruments core:WithinOneYear 2024-02-29 04638532 core:OfficeEquipment 2024-02-29 04638532 core:PlantMachinery 2024-02-29 04638532 1 2024-02-29 04638532 bus:SmallEntities 2023-03-01 2024-02-29 04638532 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 04638532 bus:FullAccounts 2023-03-01 2024-02-29 04638532 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 04638532 bus:RegisteredOffice 2023-03-01 2024-02-29 04638532 bus:Director3 2023-03-01 2024-02-29 04638532 bus:OrdinaryShareClass1 2023-03-01 2024-02-29 04638532 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 04638532 core:OfficeEquipment 2023-03-01 2024-02-29 04638532 core:PlantMachinery 2023-03-01 2024-02-29 04638532 core:ToolsEquipment 2023-03-01 2024-02-29 04638532 countries:England 2023-03-01 2024-02-29 04638532 1 2023-03-01 2024-02-29 04638532 2023-02-28 04638532 core:OfficeEquipment 2023-02-28 04638532 core:PlantMachinery 2023-02-28 04638532 1 2023-02-28 04638532 2022-03-01 2023-02-28 04638532 2023-02-28 04638532 bus:OrdinaryShareClass1 2023-02-28 04638532 core:RetainedEarningsAccumulatedLosses 2023-02-28 04638532 core:ShareCapital 2023-02-28 04638532 core:CurrentFinancialInstruments 2023-02-28 04638532 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 04638532 core:OfficeEquipment 2023-02-28 04638532 core:PlantMachinery 2023-02-28 04638532 1 2023-02-28 04638532 1 2022-03-01 2023-02-28 04638532 1 2022-02-28 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 04638532

Geo2 Remediation Limited

Filleted Unaudited Financial Statements

for the Year Ended 29 February 2024

 

Geo2 Remediation Limited

(Registration number: 04638532)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

9,725

3,250

Current assets

 

Stocks

122,116

15,945

Debtors

5

404,798

292,653

Cash at bank and in hand

 

47,407

35,303

 

574,321

343,901

Creditors: Amounts falling due within one year

6

(388,771)

(157,673)

Net current assets

 

185,550

186,228

Total assets less current liabilities

 

195,275

189,478

Provisions for liabilities

(1,495)

-

Net assets

 

193,780

189,478

Capital and reserves

 

Called up share capital

7

111

111

Retained earnings

193,669

189,367

Shareholders' funds

 

193,780

189,478

 

Geo2 Remediation Limited

(Registration number: 04638532)
Balance Sheet as at 29 February 2024

For the financial year ending 29 February 2024 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 14 August 2024 and signed on its behalf by:
 


Mr P D Stapleton
Director

   
 

Geo2 Remediation Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

1

General information

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

The address of its registered office is:
Coniston House
Louisa Street
Idle
Bradford
BD10 8NE

The company's registration number is 04638532

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

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 current and 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 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.

 

Geo2 Remediation Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

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

Plant and machinery

25% per annum on written down value

Office equipment

25% per annum on written down value

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 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.

Stocks

The cost of work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the work in progress to its present location and condition. At each reporting date, work in progress is assessed for impairment. If work in progress is impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

 

Geo2 Remediation Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year was 18 (2023 - 13).

4

Tangible assets

Plant and machinery
£

Office equipment
£

Total
£

Cost or valuation

At 1 March 2023

3,895

284

4,179

Additions

-

7,737

7,737

At 29 February 2024

3,895

8,021

11,916

Depreciation

At 1 March 2023

893

36

929

Charge for the year

751

511

1,262

At 29 February 2024

1,644

547

2,191

Carrying amount

At 29 February 2024

2,251

7,474

9,725

At 28 February 2023

3,002

248

3,250

 

Geo2 Remediation Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

5

Debtors

2024
£

2023
£

Trade debtors

394,919

239,545

Amounts owed by group undertakings

-

671

Other debtors

4,879

42,437

Director's account

5,000

10,000

 

404,798

292,653

6

Creditors

2024
£

2023
£

Due within one year

Trade creditors

230,012

124,264

Amounts due to group undertakings

64,786

8,700

Social security and other taxes

84,237

21,509

Other creditors

9,736

3,200

388,771

157,673

7

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

111

111

111

111

         
 

Geo2 Remediation Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

8

Related party transactions

Transactions with directors

2024

At 1 March 2023
£

Advances to director
£

Repayments by director
£

At 29 February 2024
£

Director's account

10,000

5,000

(10,000)

5,000

         
       

 

2023

At 1 March 2022
£

Advances to director
£

At 28 February 2023
£

Director's account

-

10,000

10,000