Acorah Software Products - Accounts Production 15.0.600 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 04286419 Mr Jason Hollands Mr Richard Spencer Mr Paul Kershaw Mr Jason Hollands iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04286419 2023-03-31 04286419 2024-03-31 04286419 2023-04-01 2024-03-31 04286419 frs-core:CurrentFinancialInstruments 2024-03-31 04286419 frs-core:FurnitureFittings 2024-03-31 04286419 frs-core:FurnitureFittings 2023-04-01 2024-03-31 04286419 frs-core:FurnitureFittings 2023-03-31 04286419 frs-core:MotorVehicles 2024-03-31 04286419 frs-core:MotorVehicles 2023-04-01 2024-03-31 04286419 frs-core:MotorVehicles 2023-03-31 04286419 frs-core:PlantMachinery 2024-03-31 04286419 frs-core:PlantMachinery 2023-04-01 2024-03-31 04286419 frs-core:PlantMachinery 2023-03-31 04286419 frs-core:ShareCapital 2024-03-31 04286419 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 04286419 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 04286419 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 04286419 frs-bus:SmallEntities 2023-04-01 2024-03-31 04286419 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 04286419 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 04286419 frs-bus:Director1 2023-04-01 2024-03-31 04286419 frs-bus:Director2 2023-04-01 2024-03-31 04286419 frs-bus:Director3 2023-04-01 2024-03-31 04286419 frs-bus:CompanySecretary1 2023-04-01 2024-03-31 04286419 frs-countries:EnglandWales 2023-04-01 2024-03-31 04286419 2022-03-31 04286419 2023-03-31 04286419 2022-04-01 2023-03-31 04286419 frs-core:CurrentFinancialInstruments 2023-03-31 04286419 frs-core:ShareCapital 2023-03-31 04286419 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 04286419
GeoDyne Limited
Financial Statements
For The Year Ended 31 March 2024
Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 04286419
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 15,819 16,733
15,819 16,733
CURRENT ASSETS
Debtors 5 333,164 495,847
Cash at bank and in hand 260,210 240,265
593,374 736,112
Creditors: Amounts Falling Due Within One Year 6 (156,246 ) (226,538 )
NET CURRENT ASSETS (LIABILITIES) 437,128 509,574
TOTAL ASSETS LESS CURRENT LIABILITIES 452,947 526,307
NET ASSETS 452,947 526,307
CAPITAL AND RESERVES
Called up share capital 7 200 200
Profit and Loss Account 452,747 526,107
SHAREHOLDERS' FUNDS 452,947 526,307
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Richard Spencer
Director
21 August 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
GeoDyne Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04286419 . The registered office is Unit 2.2 Clarendon House Clarendon Park, Clumber Avenue, Nottingham, NG5 1AH.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% on cost
Motor Vehicles 25% on cost
Fixtures & Fittings 10% on cost
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 16 (2023: 16)
16 16
Page 3
Page 4
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 April 2023 22,422 54,506 35,815 112,743
Additions 4,555 - - 4,555
As at 31 March 2024 26,977 54,506 35,815 117,298
Depreciation
As at 1 April 2023 21,258 54,506 20,246 96,010
Provided during the period 1,887 - 3,582 5,469
As at 31 March 2024 23,145 54,506 23,828 101,479
Net Book Value
As at 31 March 2024 3,832 - 11,987 15,819
As at 1 April 2023 1,164 - 15,569 16,733
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 262,403 357,530
Other debtors 70,761 138,317
333,164 495,847
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 80,361 131,814
Bank loans and overdrafts 3,511 5,995
Other creditors 2,968 3,414
Taxation and social security 69,406 85,315
156,246 226,538
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 200 200
Page 4