1 March 2023 v2024.61.1 limited_company_frs_102_section_1a_v1_1_1 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP064921602023-03-012024-02-29064921602024-02-29064921602023-02-2806492160core:WithinOneYear2024-02-2906492160core:WithinOneYear2023-02-2806492160core:ShareCapital2024-02-2906492160core:ShareCapital2023-02-2806492160core:RetainedEarningsAccumulatedLosses2024-02-2906492160core:RetainedEarningsAccumulatedLosses2023-02-2806492160bus:Director12023-03-012024-02-2906492160bus:RegisteredOffice2023-03-012024-02-2906492160core:NetGoodwill2023-03-012024-02-2906492160core:FurnitureFittingsToolsEquipment2023-03-012024-02-2906492160core:MotorVehicles2023-03-012024-02-2906492160core:PlantMachinery2023-03-012024-02-29064921602022-03-012023-02-2806492160core:NetGoodwill2024-02-2906492160core:LandBuildings2023-03-0106492160core:PlantMachinery2023-03-01064921602023-03-0106492160core:LandBuildings2023-03-012024-02-2906492160core:LandBuildings2024-02-2906492160core:PlantMachinery2024-02-2906492160core:LandBuildings2023-02-2806492160core:PlantMachinery2023-02-280649216012023-03-012024-02-2906492160countries:EnglandWales2023-03-012024-02-2906492160bus:AuditExemptWithAccountantsReport2023-03-012024-02-2906492160bus:PrivateLimitedCompanyLtd2023-03-012024-02-2906492160bus:SmallEntities2023-03-012024-02-2906492160bus:FullAccounts2023-03-012024-02-29
Company registration number:
06492160
Geckops Ltd
Unaudited Filleted Financial Statements for the year ended
29 February 2024
G&T Accountancy Services Limited
Chartered Certified Accountants
Unit 1B Denby Dale Business Park, Wakefield Road, Huddersfield, West Yorkshire, HD8 8QH, United Kingdom
Geckops Ltd
Report to the board of directors on the preparation of the unaudited statutory financial statements of Geckops Ltd
Year ended
29 February 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the
financial statements
of
Geckops Ltd
for the year ended
29 February 2024
which comprise the income statement, statement of income and retained earnings, statement of financial position and related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/​content/​dam/​ACCA_Global/​Members/​Doc/​rule/​2018-rulebook.pdf.
This report is made solely to the Board of Directors of
Geckops Ltd
, as a body, in accordance with the terms of our engagement letter dated 6 February 2024. Our work has been undertaken solely to prepare for your approval the
financial statements
of
Geckops Ltd
and state those matters that we have agreed to state to the Board of Directors of
Geckops Ltd
, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at https://www.accaglobal.com/​content/​dam/​ACCA_Global/​Technical/​fact/​technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than
Geckops Ltd
and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that
Geckops Ltd
has kept adequate accounting records and to prepare statutory
financial statements
that give a true and fair view of the assets, liabilities, financial position and profit of
Geckops Ltd
. You consider that
Geckops Ltd
is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Geckops Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
G&T Accountancy Services Limited
Chartered Certified Accountants
Unit 1B Denby Dale Business Park
Wakefield Road
Huddersfield
West Yorkshire
HD8 8QH
United Kingdom
Date:
21 March 2024
Geckops Ltd
Statement of Financial Position
29 February 2024
20242023
Note££
Fixed assets    
Tangible assets 6
412,519
 
406,080
 
Current assets    
Stocks
133,720
 
54,371
 
Debtors 7
345,627
 
211,299
 
Cash at bank and in hand
62,613
 
319,745
 
541,960
 
585,415
 
Creditors: amounts falling due within one year 8
(264,256
)
(323,840
)
Net current assets
277,704
 
261,575
 
Total assets less current liabilities 690,223   667,655  
Capital and reserves    
Called up share capital
100
 
100
 
Profit and loss account
690,123
 
667,555
 
Shareholders funds
690,223
 
667,655
 
For the year ending
29 February 2024
, 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 financial statements for the year in question in accordance with section 476;
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
financial statements
have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies’ regime.
In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered.
These
financial statements
were approved by the board of directors and authorised for issue on
21 March 2024
, and are signed on behalf of the board by:
Mr J Auty
Director
Company registration number:
06492160
Geckops Ltd
Notes to the Financial Statements
Year ended
29 February 2024

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
291 Wakefield Road
,
Lepton
,
Huddersfield
,
West Yorkshire
,
HD8 0EL
, England.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Current tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Goodwill

Purchased goodwill arises on business acquisitions and represents the difference between the cost of acquisition and the fair values of the identifiable assets and liabilities acquired.
Goodwill is initially recorded at cost, and is subsequently stated at cost less any accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over the useful economic life of the asset. Where a reliable estimate of the useful life of goodwill cannot be made, the life is presumed not to exceed five years.

Intangible assets

Intangible assets are initially measured at cost and are subsequently measured at cost less any accumulated amortisation and accumulated impairment losses or at a revalued amount. However, Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Any intangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Land and buildingsNil
Fixtures, fittings and equipment
15% reducing balance
Motor vehicles
25% reducing balance
Plant and machinery
15% reducing balance

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution pension plan

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4 Average number of employees

The average number of persons employed by the company during the year was
21
(2023:
16.00
).

5 Intangible assets

Goodwill
£
Cost  
At
1 March 2023
and
29 February 2024
12,000
 
Amortisation  
At
1 March 2023
and
29 February 2024
12,000
 
Carrying amount  
At
29 February 2024
-  
At 28 February 2023 -  

6 Tangible assets

Land and buildingsPlant and machinery etc.Total
£££
Cost      
At
1 March 2023
186,950
 
338,419
 
525,369
 
Additions
26,259
 
43,801
 
70,060
 
Disposals -  
(10,660
)
(10,660
)
At
29 February 2024
213,209
 
371,560
 
584,769
 
Depreciation      
At
1 March 2023
-  
119,289
 
119,289
 
Charge -  
62,709
 
62,709
 
Disposals -  
(9,748
)
(9,748
)
At
29 February 2024
-  
172,250
 
172,250
 
Carrying amount      
At
29 February 2024
213,209
 
199,310
 
412,519
 
At 28 February 2023
186,950
 
219,130
 
406,080
 

7 Debtors

20242023
££
Trade debtors
322,151
 
190,057
 
Other debtors
23,476
 
21,242
 
345,627
 
211,299
 

8 Creditors: amounts falling due within one year

20242023
££
Trade creditors
22,141
 
47,770
 
Taxation and social security
118,123
 
142,325
 
Other creditors
123,992
 
133,745
 
264,256
 
323,840
 

10 Controlling party

The company was under the control of Mr J Auty throughout the current and previous year. Mr J Auty is the managing director and majority shareholder.