Silverfin false false 31/08/2023 01/09/2022 31/08/2023 C J Banks 21/07/2023 N J F Boston 21/07/2023 10/11/1997 R A Puddy 10/02/2023 22/09/2021 30 August 2024 The principal activity of the Company is that of property development. 03443576 2023-08-31 03443576 bus:Director1 2023-08-31 03443576 bus:Director2 2023-08-31 03443576 bus:Director3 2023-08-31 03443576 2022-08-31 03443576 core:CurrentFinancialInstruments 2023-08-31 03443576 core:CurrentFinancialInstruments 2022-08-31 03443576 core:Non-currentFinancialInstruments 2023-08-31 03443576 core:Non-currentFinancialInstruments 2022-08-31 03443576 core:ShareCapital 2023-08-31 03443576 core:ShareCapital 2022-08-31 03443576 core:RetainedEarningsAccumulatedLosses 2023-08-31 03443576 core:RetainedEarningsAccumulatedLosses 2022-08-31 03443576 core:PlantMachinery 2022-08-31 03443576 core:PlantMachinery 2023-08-31 03443576 bus:OrdinaryShareClass1 2023-08-31 03443576 2022-09-01 2023-08-31 03443576 bus:FilletedAccounts 2022-09-01 2023-08-31 03443576 bus:SmallEntities 2022-09-01 2023-08-31 03443576 bus:AuditExemptWithAccountantsReport 2022-09-01 2023-08-31 03443576 bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 03443576 bus:Director1 2022-09-01 2023-08-31 03443576 bus:Director2 2022-09-01 2023-08-31 03443576 bus:Director3 2022-09-01 2023-08-31 03443576 core:PlantMachinery 2022-09-01 2023-08-31 03443576 2021-09-01 2022-08-31 03443576 core:CurrentFinancialInstruments 2022-09-01 2023-08-31 03443576 bus:OrdinaryShareClass1 2022-09-01 2023-08-31 03443576 bus:OrdinaryShareClass1 2021-09-01 2022-08-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 03443576 (England and Wales)

GEOSA LIMITED

Unaudited Financial Statements
For the financial year ended 31 August 2023
Pages for filing with the registrar

GEOSA LIMITED

Unaudited Financial Statements

For the financial year ended 31 August 2023

Contents

GEOSA LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 August 2023
GEOSA LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 August 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 12,859 37,976
12,859 37,976
Current assets
Debtors 4 0 7,862
Cash at bank and in hand 0 4,809
0 12,671
Creditors: amounts falling due within one year 5 ( 274,320) ( 285,627)
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 ( 5,377) ( 4,851)
Net liabilities ( 266,838) ( 239,831)
Capital and reserves
Called-up share capital 7 2 2
Profit and loss account ( 266,840 ) ( 239,833 )
Total shareholder's deficit ( 266,838) ( 239,831)

For the financial year ending 31 August 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Geosa Limited (registered number: 03443576) were approved and authorised for issue by the Director on 30 August 2024. They were signed on its behalf by:

C J Banks
Director
GEOSA LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2023
GEOSA LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2023
1. Accounting policies

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.

General information and basis of accounting

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 £.

Going concern

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

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Finance costs

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.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Plant and machinery 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

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.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

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.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 2 3

3. Tangible assets

Plant and machinery Total
£ £
Cost
At 01 September 2022 105,174 105,174
Disposals ( 55,787) ( 55,787)
At 31 August 2023 49,387 49,387
Accumulated depreciation
At 01 September 2022 67,198 67,198
Charge for the financial year 4,287 4,287
Disposals ( 34,957) ( 34,957)
At 31 August 2023 36,528 36,528
Net book value
At 31 August 2023 12,859 12,859
At 31 August 2022 37,976 37,976
Leased assets included above:
Net book value
At 31 August 2023 11,132 11,132
At 31 August 2022 14,843 14,843

4. Debtors

2023 2022
£ £
VAT recoverable 0 7,862

5. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 0 5,402
Amounts owed to Group undertakings 266,722 184,083
Amounts owed to director 0 9,737
Accruals 2,640 68,200
Other taxation and social security 0 12,829
Obligations under finance leases and hire purchase contracts (secured) 4,958 5,376
274,320 285,627

Obligations under finance leases and hire purchase contracts are secured against the assets to which they relate.

6. Creditors: amounts falling due after more than one year

2023 2022
£ £
Obligations under finance leases and hire purchase contracts (secured) 5,377 4,851

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
2 Ordinary shares of £ 1.00 each 2 2

8. Related party transactions

Transactions with the entity's director

2023 2022
£ £
Interest free loan from a director, repayable on demand 0 9,737