Company No:
Contents
Note | 2023 | 2022 | ||
£ | £ | |||
Fixed assets | ||||
Tangible assets | 3 |
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12,859 | 37,976 | |||
Current assets | ||||
Debtors | 4 |
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Cash at bank and in hand |
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0 | 12,671 | |||
Creditors: amounts falling due within one year | 5 | (
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Net current liabilities | (274,320) | (272,956) | ||
Total assets less current liabilities | (261,461) | (234,980) | ||
Creditors: amounts falling due after more than one year | 6 | (
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Net liabilities | (
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Capital and reserves | ||||
Called-up share capital | 7 |
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Profit and loss account | (
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Total shareholder's deficit | (
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Director's responsibilities:
The financial statements of Geosa Limited (registered number:
C J Banks
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Geosa Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Winslade Park Manor Drive, Clyst St. Mary, Exeter, EX5 1FY, England, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
The director has assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The director notes that the business has net liabilities of £266,838. The Company is supported through group loans. The directors have confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements. Given the current position, the director believes that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.
Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
Plant and machinery |
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Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
2023 | 2022 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including the director |
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Plant and machinery | Total | ||
£ | £ | ||
Cost | |||
At 01 September 2022 |
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Disposals | (
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At 31 August 2023 |
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Accumulated depreciation | |||
At 01 September 2022 |
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Charge for the financial year |
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Disposals | (
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At 31 August 2023 |
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Net book value | |||
At 31 August 2023 |
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At 31 August 2022 |
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Leased assets included above: | |||
Net book value | |||
At 31 August 2023 | 11,132 | 11,132 | |
At 31 August 2022 | 14,843 | 14,843 |
2023 | 2022 | ||
£ | £ | ||
VAT recoverable |
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2023 | 2022 | ||
£ | £ | ||
Trade creditors |
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Amounts owed to Group undertakings |
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Amounts owed to director |
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Accruals |
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Other taxation and social security |
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Obligations under finance leases and hire purchase contracts (secured) |
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2023 | 2022 | ||
£ | £ | ||
Obligations under finance leases and hire purchase contracts (secured) |
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2023 | 2022 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
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Transactions with the entity's director
2023 | 2022 | ||
£ | £ | ||
Interest free loan from a director, repayable on demand | 0 | 9,737 |