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REGISTERED NUMBER: 04691011 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

GEOTECH DEVELOPMENTS LIMITED

GEOTECH DEVELOPMENTS LIMITED (REGISTERED NUMBER: 04691011)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


GEOTECH DEVELOPMENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: M M F M Bosch





SECRETARY: Mrs J E C Bosch





REGISTERED OFFICE: Waters End Farm
Standen Street
Iden Green
Cranbrook
Kent
TN17 4LA





REGISTERED NUMBER: 04691011 (England and Wales)





ACCOUNTANTS: Advanta
Chartered Accountants
29 Gildredge Road
Eastbourne
East Sussex
BN21 4RU

GEOTECH DEVELOPMENTS LIMITED (REGISTERED NUMBER: 04691011)

ABRIDGED BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 891,443 455,061

CURRENT ASSETS
Stocks 68,082 147,680
Debtors 715,674 759,853
Cash at bank 401 902
784,157 908,435
CREDITORS
Amounts falling due within one year 824,266 583,014
NET CURRENT (LIABILITIES)/ASSETS (40,109 ) 325,421
TOTAL ASSETS LESS CURRENT
LIABILITIES

851,334

780,482

CREDITORS
Amounts falling due after more than one
year

(406,166

)

(105,750

)

PROVISIONS FOR LIABILITIES 6 (148,817 ) (111,835 )
NET ASSETS 296,351 562,897

CAPITAL AND RESERVES
Called up share capital 300 300
Retained earnings 296,051 562,597
SHAREHOLDERS' FUNDS 296,351 562,897

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

GEOTECH DEVELOPMENTS LIMITED (REGISTERED NUMBER: 04691011)

ABRIDGED BALANCE SHEET - continued
31 MARCH 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 6 November 2024 and were signed by:





M M F M Bosch - Director


GEOTECH DEVELOPMENTS LIMITED (REGISTERED NUMBER: 04691011)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Geotech Developments Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

These financial statements have been prepared on the basis that the company will continue to be a going concern. If this assumption is not considered valid, then adjustments would need to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that might arise and to reclassify fixed assets and long term liabilities as current assets and liabilities.

The validity of the going concern basis depends upon the continued support of the company director and lenders.

Turnover
Turnover is measured at fair value of the consideration received or receivable, excluding discounts, rebates value added tax and other sales taxes.

Revenue is recognised as work is completed. Revenue not billed is included in debtors as work in progress.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant & machinery - 25% on reducing balance and 10% on reducing balance
Furniture,fittings & equipment - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - Straight line over 3 years

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

GEOTECH DEVELOPMENTS LIMITED (REGISTERED NUMBER: 04691011)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2023 1,199,556
Additions 612,153
Disposals (11,209 )
At 31 March 2024 1,800,500
DEPRECIATION
At 1 April 2023 744,495
Charge for year 171,042
Eliminated on disposal (6,480 )
At 31 March 2024 909,057
NET BOOK VALUE
At 31 March 2024 891,443
At 31 March 2023 455,061

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
Additions 502,385
At 31 March 2024 502,385
DEPRECIATION
Charge for year 62,596
At 31 March 2024 62,596
NET BOOK VALUE
At 31 March 2024 439,789

GEOTECH DEVELOPMENTS LIMITED (REGISTERED NUMBER: 04691011)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


5. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdrafts 51,574 80,121
Hire purchase contracts 429,507 -
Bank loan 105,750 152,750
586,831 232,871

Loans of £105,750 (2023: £152,750) are secured by way of a fixed and floating charge over the undertaking and all property and assets present and future, including goodwill, uncalled capital, buildings, fixtures, fixed plant & machinery.

Hire purchase contracts are secured by way of a fixed charge over the assets.

6. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 221,047 111,835
Trading losses (72,230 ) -
148,817 111,835

Deferred
tax
£   
Balance at 1 April 2023 111,835
Provided during year 109,212
Tax losses carried forward (72,230 )
Balance at 31 March 2024 148,817

7. RELATED PARTY DISCLOSURES

During the year the company the company invoiced £150,000 to a company controlled by the directors family in relation to research and development costs.

During the year the company was owed £135,359 (2023: £364,470) from a company under common control.

At the balance sheet date £227,288 (2023: £61,006) was owed to the company director. The loan is unsecured, repayable on demand and interest-free.

At the balance sheet date £6,100 (2023: £32,825) was owed to the son of the director. The loan is unsecured, repayable on demand and interest-free.

8. EXCEPTIONAL ITEMS

During the year the company the company invoiced £150,000 in relation to research and development costs.