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REGISTERED NUMBER: 10546874 (England and Wales)















GEOSPEK LTD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2023






GEOSPEK LTD (REGISTERED NUMBER: 10546874)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4

Report of the Accountants 7

GEOSPEK LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTOR: C D Binks





REGISTERED OFFICE: Unit 5 Sovereign Business Park
Penistone Road
Shepley
HUDDERSFIELD
HD8 8BE





REGISTERED NUMBER: 10546874 (England and Wales)





ACCOUNTANTS: FINLAYSON & CO
Whitby Court
Abbey Road
Shepley
HUDDERSFIELD
West Yorkshire
HD8 8EL

GEOSPEK LTD (REGISTERED NUMBER: 10546874)

STATEMENT OF FINANCIAL POSITION
30 NOVEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 26,995 31,910

CURRENT ASSETS
Inventories 5 11,459 11,404
Debtors 6 39,240 57,179
Cash at bank 8,684 8,548
59,383 77,131
CREDITORS
Amounts falling due within one year 7 74,323 78,638
NET CURRENT LIABILITIES (14,940 ) (1,507 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

12,055

30,403

CREDITORS
Amounts falling due after more than one
year

8

11,757

17,500
NET ASSETS 298 12,903

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 198 12,803
SHAREHOLDERS' FUNDS 298 12,903

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 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.

GEOSPEK LTD (REGISTERED NUMBER: 10546874)

STATEMENT OF FINANCIAL POSITION - continued
30 NOVEMBER 2023


The 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.

The financial statements were approved by the director and authorised for issue on 9 August 2024 and were signed by:





C D Binks - Director


GEOSPEK LTD (REGISTERED NUMBER: 10546874)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1. STATUTORY INFORMATION

Geospek Ltd 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.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and Machinery - 20% on cost
Fixtures and Fittings - 20% on cost
Motor Vehicles - 25% on reducing balance

Stocks
Inventories 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 inventories 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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

GEOSPEK LTD (REGISTERED NUMBER: 10546874)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Short Plant and and
leasehold Machinery Fittings
£    £    £   
COST
At 1 December 2022 1,200 37,638 4,527
Additions - 3,421 283
At 30 November 2023 1,200 41,059 4,810
DEPRECIATION
At 1 December 2022 - 28,907 2,214
Charge for year - 3,214 768
At 30 November 2023 - 32,121 2,982
NET BOOK VALUE
At 30 November 2023 1,200 8,938 1,828
At 30 November 2022 1,200 8,731 2,313

Motor Computer
Vehicles Equipment Totals
£    £    £   
COST
At 1 December 2022 33,772 1,985 79,122
Additions - 733 4,437
At 30 November 2023 33,772 2,718 83,559
DEPRECIATION
At 1 December 2022 15,161 930 47,212
Charge for year 4,654 716 9,352
At 30 November 2023 19,815 1,646 56,564
NET BOOK VALUE
At 30 November 2023 13,957 1,072 26,995
At 30 November 2022 18,611 1,055 31,910

GEOSPEK LTD (REGISTERED NUMBER: 10546874)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

5. INVENTORIES
2023 2022
£    £   
Stocks 4,500 4,500
Work In Progress 6,959 6,904
11,459 11,404

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 29,159 48,405
Other debtors 10,081 8,774
39,240 57,179

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 7,000 7,000
Trade creditors 8,157 2,440
Taxation and social security 22,749 20,087
Other creditors 36,417 49,111
74,323 78,638

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 11,757 17,500

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary 1 100 100

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 November 2023 and 30 November 2022:

2023 2022
£    £   
C D Binks
Balance outstanding at start of year 7,804 2,065
Amounts advanced 9,028 25,711
Amounts repaid (7,804 ) (19,972 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 9,028 7,804

GEOSPEK LTD

REPORT OF THE ACCOUNTANTS TO THE DIRECTOR OF
GEOSPEK LTD

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

As described on the Statement of Financial Position you are responsible for the preparation of the financial statements for the year ended 30 November 2023 set out on pages two to seven and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






FINLAYSON & CO
Whitby Court
Abbey Road
Shepley
HUDDERSFIELD
West Yorkshire
HD8 8EL


9 August 2024