Geosphere Limited 01599148 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is to provide research and consultancy services to the oil industry Digita Accounts Production Advanced 6.30.9574.0 true 01599148 2023-01-01 2023-12-31 01599148 2023-12-31 01599148 bus:OrdinaryShareClass1 2023-12-31 01599148 core:RetainedEarningsAccumulatedLosses 2023-12-31 01599148 core:ShareCapital 2023-12-31 01599148 core:CurrentFinancialInstruments 2023-12-31 01599148 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 01599148 core:FurnitureFittings 2023-12-31 01599148 core:OfficeEquipment 2023-12-31 01599148 core:PlantMachinery 2023-12-31 01599148 bus:SmallEntities 2023-01-01 2023-12-31 01599148 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 01599148 bus:FullAccounts 2023-01-01 2023-12-31 01599148 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 01599148 bus:RegisteredOffice 2023-01-01 2023-12-31 01599148 bus:Director1 2023-01-01 2023-12-31 01599148 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 01599148 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 01599148 core:ComputerEquipment 2023-01-01 2023-12-31 01599148 core:FurnitureFittings 2023-01-01 2023-12-31 01599148 core:OfficeEquipment 2023-01-01 2023-12-31 01599148 core:PlantMachinery 2023-01-01 2023-12-31 01599148 countries:England 2023-01-01 2023-12-31 01599148 2022-12-31 01599148 core:FurnitureFittings 2022-12-31 01599148 core:OfficeEquipment 2022-12-31 01599148 core:PlantMachinery 2022-12-31 01599148 2022-01-01 2022-12-31 01599148 2022-12-31 01599148 bus:OrdinaryShareClass1 2022-12-31 01599148 core:RetainedEarningsAccumulatedLosses 2022-12-31 01599148 core:ShareCapital 2022-12-31 01599148 core:CurrentFinancialInstruments 2022-12-31 01599148 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 01599148 core:FurnitureFittings 2022-12-31 01599148 core:OfficeEquipment 2022-12-31 01599148 core:PlantMachinery 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 01599148

Geosphere Limited

Annual Report and Unaudited Financial Statements

for the year ended 31 December 2023

 

Geosphere Limited

(Registration number: 01599148)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed Assets

 

Tangible Assets

4

239

342

Current assets

 

Debtors

5

768

687

Cash at bank and in hand

 

6,879

40,366

 

7,647

41,053

Creditors: Amounts falling due within one year

6

(5,004)

(34,319)

Net current assets

 

2,643

6,734

Net assets

 

2,882

7,076

Capital and Reserves

 

Called up share capital

7

100

100

Retained Earnings

2,782

6,976

Shareholders' funds

 

2,882

7,076

For the financial year ending 31 December 2023 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 24 September 2024 and signed on its behalf by:
 


Dr T R Harper
Director

   
 

Geosphere Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

1

General information

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

The address of its registered office is:
Netherton Farm
Sheepwash
BEAWORTHY
Devon
EX21 5PL

These financial statements were authorised for issue by the Board on 24 September 2024.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared on a going concern basis and using the historical cost convention.

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 sales, value added tax, returns, rebates and discounts.

Foreign currency transactions and balances

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class

Depreciation method and rate

Plant and equipment

15% of net book value

Office equipment

15% of net book value

Computer equipment

33% of cost

3

Staff numbers

The average number of persons employed by the company (including directors under service contract) during the year, was 0 (2022 - 0).

 

Geosphere Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

4

Tangible Assets

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Total
£

Cost or valuation

At 1 January 2023

14,022

920

2,132

17,074

At 31 December 2023

14,022

920

2,132

17,074

Depreciation

At 1 January 2023

13,905

901

1,926

16,732

Charge for the year

70

3

30

103

At 31 December 2023

13,975

904

1,956

16,835

Carrying amount

At 31 December 2023

47

16

176

239

At 31 December 2022

117

19

206

342

5

Debtors

Current

2023
£

2022
£

Prepayments

575

687

Other debtors

193

-

 

768

687

 

Geosphere Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

4,053

33,419

Accruals and deferred income

 

950

900

Other creditors

 

1

-

 

5,004

34,319

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100