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REGISTERED NUMBER: 07253661 (England and Wales)






















Strategic Report,

Report of the Directors and

Financial Statements

for the Year Ended 31 March 2024

for

GeoGreen Power Limited

GeoGreen Power Limited (Registered number: 07253661)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Statement of Income and Retained Earnings 8

Balance Sheet 9

Notes to the Financial Statements 10


GeoGreen Power Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: A Cunningham
J A Cunningham
K E S Cunningham
K Auckland
M Ward





SECRETARY: D S Sherlock





REGISTERED OFFICE: Alexandra House
43 Alexandra Street
Nottingham
NG5 1AY





BUSINESS ADDRESS: Bradmore Business Park
Loughborough Road
Bunny
Nottingham
Nottinghamshire
NG11 6QA





REGISTERED NUMBER: 07253661 (England and Wales)





AUDITORS: Wright Vigar Limited
Statutory Auditors
Chartered Accountants & Business Advisers
Alexandra House
43 Alexandra St
Nottingham
Nottinghamshire
NG5 1AY

GeoGreen Power Limited (Registered number: 07253661)

Strategic Report
for the Year Ended 31 March 2024

The directors present their strategic report for the year ended 31 March 2024.

The principal activity of the company is the installation of Solar PV systems, batteries and other energy saving products in the UK.

REVIEW OF BUSINESS
The results are set out in the profit and loss account of the financial statements and the directors are pleased with the progress in the year, especially considering the monies invested in IT systems, staff and premises.

Turnover has increased by 32% from £12,336,626 to £16,250,703 with gross profit also increasing from £2,132,410 to £3,656,498.

PRINCIPAL RISKS AND UNCERTAINTIES
There remain a number of key risks which the business must remain mindful of and structure its approach to manage. These include:

Market risk
The industry is fast moving in technological advances. The directors strive to provide the best products and solutions to fit our clients bespoke needs. To achieve this expert team members scour the markets and respond swiftly to exploit opportunities and future technologies.

Health and safety
Within the construction industry, health and safety is highly regulated. We pride ourselves on our excellent health and safety record. We employ QHSE experts and have weekly meetings to ensure that we promote best practices.

Financial risks
Our main credit risk is liquidity, with trade debtors being the highest risk. The company manages this through setting credit terms with our clients aligning with their credit risk and work undertaken.

People risks
Geogreen Power prides itself on employing experts in the field of green energy. This enables the company to innovate and successfully met our clients needs and expectations. Retention of these experts and development of new team members is at the core of our values. We invest time and money into training programmes, along with many other benefits to ensure that this happens.

ANALYSIS OF KEY PERFORMANCE INDICATORS
The Board look at turnover, margins and profitability when monitoring business performance.

The company measures its Key performance indicators in terms of:

Percentage increase in turnover: 32% (2023: 147%)
Gross profit percentage: 22.5% (2023: 17.3%)

The Board also consider key statement of financial position areas in order to understand the financial position of the company and this shows a net assets position of £1,305,155 (2023 - £512,806).

ON BEHALF OF THE BOARD:





A Cunningham - Director


12 December 2024

GeoGreen Power Limited (Registered number: 07253661)

Report of the Directors
for the Year Ended 31 March 2024

The directors present their report with the financial statements of the company for the year ended 31 March 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of the installation and servicing of solar panels.

DIVIDENDS
No dividends will be distributed for the year ended 31 March 2024.

EVENTS SINCE THE END OF THE YEAR
Information relating to events since the end of the year is given in the notes to the financial statements.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 April 2023 to the date of this report.

A Cunningham
J A Cunningham
K E S Cunningham
K Auckland

Other changes in directors holding office are as follows:

M Ward - appointed 12 May 2023

I S Miles ceased to be a director after 31 March 2024 but prior to the date of this report.

PROFESSIONAL LIABILITY INSURANCE
The company takes out liability insurance on behalf of the directors.

DISCLOSURE IN THE STRATEGIC REPORT
The directors have prepared a review of the business, together with a summary of the principal risks and uncertainties affecting the company, and these are detailed within the Strategic Report. The report includes an explanation of the company's financial risk management policies.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

GeoGreen Power Limited (Registered number: 07253661)

Report of the Directors
for the Year Ended 31 March 2024


STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

ON BEHALF OF THE BOARD:





A Cunningham - Director


12 December 2024

Report of the Independent Auditors to the Members of
GeoGreen Power Limited

Qualified Opinion
We have audited the financial statements of GeoGreen Power Limited (the 'company') for the year ended 31 March 2024 which comprise the Statement of Income and Retained Earnings, Balance Sheet and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion, except for the effects of the matter described in the 'Basis for Qualified Opinion' section of our report, the financial statements:

- give a true and fair view of the state of the company's affairs as at 31 March 2024 and of the company's profit for the year then ended;
- have been properly prepared in accordance with the United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for Qualified Opinion
With respect to opening stock with a carrying value of £215,871, we were unable to obtain sufficient appropriate audit evidence because we did not observe the counting of the physical stock as at 1 April 2023, since that date was prior to our appointment as auditor of the company.

As a consequence of these limitations on our work were were unable to obtain sufficient appropriate audit evidence regarding cost of sales for the company for the period ended 31 March 2024 and related items such as profit for the year.

We conducted our approach in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the 'Auditor's responsibilities for the audit of the financial statements' section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Other matter

We draw attention to the accounting policies to the financial statements and the fact that the comparative information in the accounts was unaudited as the company was entitled to exemption from audit in that year because the company qualified as small. Except for as described in the 'Basis fo Qualified Opinion' section of our report, we have not qualified our opinion in respect of this.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report this fact.

As described in the 'Basis for Qualified Opinion', section of our report, we were unable to satisfy ourselves concerning the opening quantity and value of company stock of £215,871 held at 1 April 2023 and as a consequence the reported value of company cost of sales for the year ended 31 March 2024. We have concluded that where the other information refers to cost of sales or related items such as profit for the year, it may be materially misstated for the same reason.

Report of the Independent Auditors to the Members of
GeoGreen Power Limited


Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

Arising solely of the limitation on the scope of our work relating to the company's opening stock, as set out in the 'Basis for Qualified Opinion' section of our report:

- we have not obtained all the information and explanations that we considered necessary for the purpose of our audit; and
- we were unable to determine whether adequate accounting records had been kept.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
GeoGreen Power Limited


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud.

Our approach included obtaining an understanding of the legal and regulatory frameworks that are applicable to the company and we determined those that are most significant. Based on the results of our risk assessment we designed audit procedures to identify non-compliance with such laws and regulations. The specific procedures included enquiry of management and those charged with governance around actual and potential litigation and claims.

In addition, and based on the results of our risk assessment we designed audit procedures to identify and address material misstatements in relation to fraud. Specifically we considered the risk of fraud through management override that may lead to a misappropriation of assets or inappropriate financial reporting. In response, we performed audit work over the risk of management override of controls, including testing journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Steven Newman LLB BFP FCA (Senior Statutory Auditor)
for and on behalf of Wright Vigar Limited
Statutory Auditors
Chartered Accountants & Business Advisers
Alexandra House
43 Alexandra St
Nottingham
Nottinghamshire
NG5 1AY

12 December 2024

GeoGreen Power Limited (Registered number: 07253661)

Statement of Income and
Retained Earnings
for the Year Ended 31 March 2024

2024 2023
Notes £    £   

TURNOVER 3 16,250,703 12,336,626

Cost of sales 12,594,205 10,204,216
GROSS PROFIT 3,656,498 2,132,410

Administrative expenses 2,549,548 1,888,220
1,106,950 244,190

Other operating income 14,475 73,732
OPERATING PROFIT 5 1,121,425 317,922

Interest receivable and similar income 7,084 176,069
1,128,509 493,991

Interest payable and similar expenses 6 42,403 56,615
PROFIT BEFORE TAXATION 1,086,106 437,376

Tax on profit 7 293,757 116,558
PROFIT FOR THE FINANCIAL YEAR 792,349 320,818

Retained earnings at beginning of year 512,706 240,388

Dividends 8 - (48,500 )

RETAINED EARNINGS AT END OF YEAR 1,305,055 512,706

GeoGreen Power Limited (Registered number: 07253661)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 9 - 25,000
Tangible assets 10 223,038 165,969
Investments 11 1,141,493 1,141,493
1,364,531 1,332,462

CURRENT ASSETS
Stocks 12 250,445 215,871
Debtors 13 3,326,196 1,514,143
Cash at bank and in hand 1,079,978 3,748,180
4,656,619 5,478,194
CREDITORS
Amounts falling due within one year 14 4,483,242 5,922,115
NET CURRENT ASSETS/(LIABILITIES) 173,377 (443,921 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,537,908

888,541

CREDITORS
Amounts falling due after more than one
year

15

(176,993

)

(334,242

)

PROVISIONS FOR LIABILITIES 18 (55,760 ) (41,493 )
NET ASSETS 1,305,155 512,806

CAPITAL AND RESERVES
Called up share capital 19 100 100
Retained earnings 20 1,305,055 512,706
SHAREHOLDERS' FUNDS 1,305,155 512,806

The financial statements were approved by the Board of Directors and authorised for issue on 12 December 2024 and were signed on its behalf by:





A Cunningham - Director


GeoGreen Power Limited (Registered number: 07253661)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

GeoGreen Power 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" 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 entity and rounded to the nearest £.

The comparatives for the year ended 31 March 2023 were not subject to statutory audit because the company and the group in which it is a subsidiary qualified for small company exemptions at that time.

Financial Reporting Standard 102 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

the requirements of Section 7 Statement of Cash Flows.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements:

Stock and contract valuations together with recoverability of trading assets - these involve judgements as to pricing and the extent to which provisions are required to account for the risk of obsolescence.

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

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Devel costs are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Improvements to property - 4% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.

If there is an indication that there has been significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

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.

GeoGreen Power Limited (Registered number: 07253661)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

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.

Amounts recoverable on long term contracts, which are included in debtors are stated at the net sales value of the work done after provisions for contingencies and anticipated future losses on contracts, less amounts received as progress payments on account. Excess progress payments are included in creditors as payments received on account.

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.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

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.

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.

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.

Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis.

Investments
Investments in unlisted companies are held at cost. Impairments in value are considered each year with any such costs being expensed to the income statement.

GeoGreen Power Limited (Registered number: 07253661)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

3. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

An analysis of turnover by class of business is given below:

2024 2023
£    £   
Solar panel installation 16,250,703 12,336,626
16,250,703 12,336,626

An analysis of turnover by geographical market is given below:

2024 2023
£    £   
United Kingdom 16,250,703 12,336,626
16,250,703 12,336,626

4. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 1,005,895 708,350
Social security costs 43,786 33,148
Other pension costs 17,570 20,471
1,067,251 761,969

The average number of employees during the year was as follows:
2024 2023

Office and management 23 20
Production 25 21
48 41

2024 2023
£    £   
Directors' remuneration 365,832 273,336
Directors' pension contributions to money purchase schemes 6,865 5,101

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 6 5

Information regarding the highest paid director is as follows:
2024 2023
£    £   
Emoluments etc 96,419 89,853
Pension contributions to money purchase schemes 1,321 1,321

GeoGreen Power Limited (Registered number: 07253661)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. OPERATING PROFIT

The operating profit is stated after charging:

2024 2023
£    £   
Other operating leases 68,952 121,658
Depreciation - owned assets 50,975 52,227
Loss on disposal of fixed assets 6,419 2,978
Devel costs amortisation 25,000 25,000
Auditors' remuneration 10,000 -

6. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Bank loan interest 42,403 56,243
Interest payable - 372
42,403 56,615

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 285,288 116,558
Adjustments from prior years (5,798 ) -
Total current tax 279,490 116,558

Deferred tax 14,267 -
Tax on profit 293,757 116,558

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£    £   
Profit before tax 1,086,106 437,376
Profit multiplied by the standard rate of corporation tax in the UK of 25%
(2023 - 19%)

271,527

83,101

Effects of:
Expenses not deductible for tax purposes 15,527 15,872
Capital allowances in excess of depreciation (3,371 ) -
Depreciation in excess of capital allowances - 952
Adjustments to tax charge in respect of previous periods (5,798 ) -
Origination and reversal of timing differences 14,267 16,633
Loss on disposal of assets 1,605 -
Total tax charge 293,757 116,558

8. DIVIDENDS
2024 2023
£    £   
Ordinary shares of 1 each
Final - 48,500

GeoGreen Power Limited (Registered number: 07253661)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

9. INTANGIBLE FIXED ASSETS
Devel
costs
£   
COST
At 1 April 2023
and 31 March 2024 50,000
AMORTISATION
At 1 April 2023 25,000
Amortisation for year 25,000
At 31 March 2024 50,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 25,000

Intangible assets relate to the development phase of the internally generated intangible assets incurred by GeoGreen in the year ended 31 March 2023. These costs relate to the development of technical strategies, financial models and methodology to create economic benefits to the company.

These costs have been amortised over 2 years, being fully amortised in the year ended 31 March 2024.

10. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 April 2023 19,088 31,384 16,701
Additions 70,420 7,601 12,781
Disposals (19,088 ) (8,600 ) -
At 31 March 2024 70,420 30,385 29,482
DEPRECIATION
At 1 April 2023 4,587 18,217 8,973
Charge for year 2,817 2,835 3,077
Eliminated on disposal (4,587 ) (6,733 ) -
At 31 March 2024 2,817 14,319 12,050
NET BOOK VALUE
At 31 March 2024 67,603 16,066 17,432
At 31 March 2023 14,501 13,167 7,728

GeoGreen Power Limited (Registered number: 07253661)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

10. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2023 262,299 21,707 351,179
Additions - 38,290 129,092
Disposals (10,460 ) (1,750 ) (39,898 )
At 31 March 2024 251,839 58,247 440,373
DEPRECIATION
At 1 April 2023 139,565 13,868 185,210
Charge for year 29,580 12,666 50,975
Eliminated on disposal (6,047 ) (1,483 ) (18,850 )
At 31 March 2024 163,098 25,051 217,335
NET BOOK VALUE
At 31 March 2024 88,741 33,196 223,038
At 31 March 2023 122,734 7,839 165,969

The net book value of tangible fixed assets includes an amount of £58,025 (2023 - £100,647) in respect of assets held under finance leases or hire purchase contracts. Depreciation charged on these assets during the year amounted to £19,342 (2023 - £33,549).

11. FIXED ASSET INVESTMENTS
Unlisted
investments
£   
COST
At 1 April 2023
and 31 March 2024 1,141,493
NET BOOK VALUE
At 31 March 2024 1,141,493
At 31 March 2023 1,141,493

12. STOCKS
2024 2023
£    £   
Stocks 126,219 125,000
Work-in-progress 124,226 90,871
250,445 215,871

13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,368,352 1,169,978
Other debtors 691,659 55,070
Directors' loan accounts 1,049,505 -
VAT - 135,775
Prepayments and accrued income 216,680 153,320
3,326,196 1,514,143

GeoGreen Power Limited (Registered number: 07253661)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 16) 127,894 105,000
Hire purchase contracts (see note 17) 21,433 31,869
Trade creditors 1,673,327 2,356,247
Amounts owed to group undertakings 2,610 -
Tax 285,288 99,925
Social security and other taxes 59,242 116,517
VAT 152,759 -
Other creditors 1,208,179 8,850
Directors' loan accounts - 1,998
Accruals and deferred income 952,510 3,201,709
4,483,242 5,922,115

Hire purchase contracts or finance leases are secured against the assets to which they relate.

The bank loan is a CBILS (UK Government guaranteed) facility, and is not subject to any security by the company.

15. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans (see note 16) 145,079 280,894
Hire purchase contracts (see note 17) 31,914 53,348
176,993 334,242

16. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 127,894 105,000

Amounts falling due between one and two years:
Bank loans - 1-2 years 145,079 127,894

Amounts falling due between two and five years:
Bank loans - 2-5 years - 153,000

17. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 21,433 31,869
Between one and five years 31,914 53,348
53,347 85,217

GeoGreen Power Limited (Registered number: 07253661)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

17. LEASING AGREEMENTS - continued

Non-cancellable operating leases
2024 2023
£    £   
Within one year 194,433 59,665
Between one and five years 526,765 143,506
721,198 203,171

18. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 55,760 41,493

Deferred
tax
£   
Balance at 1 April 2023 41,493
Provided during year 14,267
Balance at 31 March 2024 55,760

19. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary 1 100 100

20. RESERVES

Called up share capital - represents the nominal value of shares that have been issued.

Retained earnings - represents cumulative profits and losses.

21. PENSION COMMITMENTS

The amount recognised in profit or loss in relation to defined contribution plans was £39,987 (2023 - £32,505).

22. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
A Cunningham
Balance outstanding at start of year - -
Amounts advanced 1,050,260 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 1,050,260 -

GeoGreen Power Limited (Registered number: 07253661)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

23. RELATED PARTY TRANSACTIONS

George Green Power Limited

The company is a subsidiary of George Green Power Limited. At 31 March 2024 the amount owed to George Green Power Limited by GeoGreen Power Limited was £2,610 (2023 - £777).

Management charges were receivable by the company of £13,316 (2023 - £53,758).

GeoPura Limited

The company has entered into transactions with GeoPura Limited, a company in which GeoGreen Power Limited holds a minority shareholding interest, and in which Mr A Cunningham is a director and is a founding shareholder.

Sales and rental income was recorded of £862,480 (2023 - £nil) and the trade debtor at 31 March 2024 was £108,619 (2023 - £53,758).

Purchases and expenses were incurred of £5,840 and the trade creditor at 31 March 2024 was £49,609 (2023 - £389,940).

Transactions with Mrs C Cunningham

During the year Mrs C Cunningham entered into sales transactions totalling £917 (2023 - £nil) and a balance of £600 (2023 - £nil) existed at the financial year end.

24. POST BALANCE SHEET EVENTS

On 27 September 2024, as part of a share restructuring exercise, the company's share capital was subdivided from 100 ordinary shares of £1 each to 10,000 ordinary shares of £0.01 each.

25. ULTIMATE CONTROLLING PARTY

The ultimate parent company is George Green Power Ltd, a company registered in England and Wales.

George Green Power Ltd prepared the only consolidated financial statements in the group that include the results of the company. The consolidated financial statements can be obtained from Companies House. The registered office of George Green Power Ltd is Alexandra House, 43 Alexandra Street, Nottingham, NG5 1AY.

The company is controlled by the directors of the ultimate parent company. A Cunningham is a director of both GeoGreen Power Ltd and George Green Power Ltd.