Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-3182023-01-01falseThe principal activity of the company is provision of training courses8truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12073289 2023-01-01 2023-12-31 12073289 2022-01-01 2022-12-31 12073289 2023-12-31 12073289 2022-12-31 12073289 c:Director1 2023-01-01 2023-12-31 12073289 d:ComputerEquipment 2023-01-01 2023-12-31 12073289 d:ComputerEquipment 2023-12-31 12073289 d:ComputerEquipment 2022-12-31 12073289 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 12073289 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-12-31 12073289 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-12-31 12073289 d:CurrentFinancialInstruments 2023-12-31 12073289 d:CurrentFinancialInstruments 2022-12-31 12073289 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 12073289 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 12073289 d:ShareCapital 2023-12-31 12073289 d:ShareCapital 2022-12-31 12073289 d:SharePremium 2023-12-31 12073289 d:SharePremium 2022-12-31 12073289 d:CapitalRedemptionReserve 2023-12-31 12073289 d:CapitalRedemptionReserve 2022-12-31 12073289 d:RetainedEarningsAccumulatedLosses 2023-12-31 12073289 d:RetainedEarningsAccumulatedLosses 2022-12-31 12073289 c:OrdinaryShareClass1 2023-01-01 2023-12-31 12073289 c:OrdinaryShareClass1 2023-12-31 12073289 c:FRS102 2023-01-01 2023-12-31 12073289 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 12073289 c:FullAccounts 2023-01-01 2023-12-31 12073289 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 12073289 d:Subsidiary1 2023-01-01 2023-12-31 12073289 d:Subsidiary1 1 2023-01-01 2023-12-31 12073289 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:InternallyGeneratedIntangibleAssets 2023-01-01 2023-12-31 12073289 6 2023-01-01 2023-12-31 12073289 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:OwnedIntangibleAssets 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 12073289














GEOLOGICA LIMITED

 
UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
GEOLOGICA LIMITED
 

CONTENTS



Page
Balance sheet
 
1 - 2
Notes to the financial statements
 
3 - 9


 
GEOLOGICA LIMITED
REGISTERED NUMBER:12073289

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
12,548
8,412

Tangible assets
 5 
1,366
258

Investments
 6 
805
805

  
14,719
9,475

Current assets
  

Debtors: amounts falling due within one year
 7 
173,434
163,151

Cash at bank and in hand
 8 
23,019
7,661

  
196,453
170,812

Creditors: amounts falling due within one year
 9 
(91,543)
(113,327)

Net current assets
  
 
 
104,910
 
 
57,485

Total assets less current liabilities
  
119,629
66,960

  

Net assets
  
119,629
66,960


Capital and reserves
  

Called up share capital 
 10 
1,000
1,000

Own shares held
  
(256)
-

Share premium account
  
283,090
283,090

Profit and loss account
  
(164,205)
(217,130)

  
119,629
66,960


1

 
GEOLOGICA LIMITED
REGISTERED NUMBER:12073289
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




S J Baker
Director

Date: 15 November 2024

The notes on pages 3 to 9 form part of these financial statements.

2

 
GEOLOGICA LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Geologica Limited is a private company, limited by shares, registered in England and Wales, registration number 12073289. The registered office address is Elsley Court, 20-22 Great Titchfield Street, London, W1W 8BE.
The principal activity of the company is provision of training courses.
 
2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The company is the parent undertaking of a small group and as such is not required by the Companies Act 2006 to prepare group accounts. These financial statements therefore present information about the company as an individual undertaking and not about its group.
 
The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is pound sterling.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

 
2.3

Turnover

Turnover from fees receivable for provision of training courses is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. 

 
2.4

Operating leases: the company as lessee

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

3

 
GEOLOGICA LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that 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.

 
2.6

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the company in independently administered funds.

 
2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.8

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a useful life of 10 years.

4

 
GEOLOGICA LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Computer equipment
-
33%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

 Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.11

 Debtors

Short-term debtors are measured at transaction price, less any impairment. 

 
2.12

 Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.13

 Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.14

 Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Employees

The average monthly number of employees, including directors, during the year was 8 (2022 - 8).

5

 
GEOLOGICA LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Intangible assets




Development expenditure

£



Cost


At 1 January 2023
11,300


Additions
5,384



At 31 December 2023

16,684



Amortisation


At 1 January 2023
2,888


Charge for the year
1,248



At 31 December 2023

4,136



Net book value



At 31 December 2023
12,548



At 31 December 2022
8,412



6

 
GEOLOGICA LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Tangible fixed assets





Computer equipment

£



Cost 


At 1 January 2023
465


Additions
1,337



At 31 December 2023

1,802



Depreciation


At 1 January 2023
207


Charge for the year
229



At 31 December 2023

436



Net book value



At 31 December 2023
1,366



At 31 December 2022
258


6.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 January 2023
805



At 31 December 2023
805






Net book value



At 31 December 2023
805



At 31 December 2022
805

7

 
GEOLOGICA LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

Subsidiary undertaking


The following was a subsidiary undertaking of the company:

Name

Registered office

Class of shares

Holding

Geologica Inc.
USA
Ordinary
100%


7.


Debtors

2023
2022
£
£


Trade debtors
37,696
55,952

Amounts owed by group undertakings
134,880
106,096

Other debtors
130
130

Prepayments and accrued income
728
973

173,434
163,151



8.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
23,019
7,661



9.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
8,972
18,774

Other taxation and social security
6,279
6,883

Other creditors
63,181
77,414

Accruals and deferred income
13,111
10,256

91,543
113,327


8

 
GEOLOGICA LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

10.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1,000 Ordinary shares of £1.00 each
1,000
1,000

On 5 December 2023, 256 Ordinary shares held in treasury were purchased at an average price of £1 each.


11.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £2,225 (2022 - £1,597). Contributions totalling £433 (2022 - £321) were payable to the fund at the balance sheet date and are included in creditors.


12.


Related party transactions

No disclosure has been made of transactions with other wholly owned group companies in accordance
with FRS 102 Section 1A paragraph 1AC.35.
Included within other creditors is £17,980 (2022 - £30,240) due to the directors. The loans are interest free and repayable on demand.

 
9