21 false false false false false false false false false false true false false false false false false No description of principal activity 2023-05-01 Sage Accounts Production Advanced 2023 - FRS102_2023 903,135 131,844 1,034,979 458,730 192,408 651,138 383,841 444,405 xbrli:pure xbrli:shares iso4217:GBP 3965757 2023-05-01 2024-04-30 3965757 2024-04-30 3965757 2023-04-30 3965757 2022-05-01 2023-04-30 3965757 2023-04-30 3965757 2022-04-30 3965757 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-05-01 2024-04-30 3965757 core:LandBuildings core:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 3965757 core:PlantMachinery 2023-05-01 2024-04-30 3965757 core:FurnitureFittings 2023-05-01 2024-04-30 3965757 core:MotorVehicles 2023-05-01 2024-04-30 3965757 bus:Director1 2023-05-01 2024-04-30 3965757 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-04-30 3965757 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-04-30 3965757 core:LandBuildings core:OwnedOrFreeholdAssets 2023-04-30 3965757 core:PlantMachinery 2023-04-30 3965757 core:FurnitureFittings 2023-04-30 3965757 core:MotorVehicles 2023-04-30 3965757 core:LandBuildings core:OwnedOrFreeholdAssets 2024-04-30 3965757 core:PlantMachinery 2024-04-30 3965757 core:FurnitureFittings 2024-04-30 3965757 core:MotorVehicles 2024-04-30 3965757 core:WithinOneYear 2024-04-30 3965757 core:WithinOneYear 2023-04-30 3965757 core:AfterOneYear 2023-04-30 3965757 core:ShareCapital 2024-04-30 3965757 core:ShareCapital 2023-04-30 3965757 core:RetainedEarningsAccumulatedLosses 2024-04-30 3965757 core:RetainedEarningsAccumulatedLosses 2023-04-30 3965757 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-04-30 3965757 core:LandBuildings core:OwnedOrFreeholdAssets 2023-04-30 3965757 core:PlantMachinery 2023-04-30 3965757 core:FurnitureFittings 2023-04-30 3965757 core:MotorVehicles 2023-04-30 3965757 bus:SmallEntities 2023-05-01 2024-04-30 3965757 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 3965757 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 3965757 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 3965757 bus:FullAccounts 2023-05-01 2024-04-30 3965757 core:OfficeEquipment 2023-05-01 2024-04-30 3965757 core:OfficeEquipment 2023-04-30 3965757 core:OfficeEquipment 2024-04-30
COMPANY REGISTRATION NUMBER: 3965757
Geotechnical Observations Limited
Filleted Unaudited Financial Statements
30 April 2024
Geotechnical Observations Limited
Statement of Financial Position
30 April 2024
2024
2023
Note
£
£
Fixed assets
Intangible assets
5
383,841
444,405
Tangible assets
6
503,156
552,062
---------
---------
886,997
996,467
Current assets
Stocks
53,165
51,975
Debtors
7
411,462
453,406
Cash at bank and in hand
830,975
1,023,615
------------
------------
1,295,602
1,528,996
Creditors: amounts falling due within one year
8
634,208
685,340
------------
------------
Net current assets
661,394
843,656
------------
------------
Total assets less current liabilities
1,548,391
1,840,123
Creditors: amounts falling due after more than one year
9
104,924
Provisions
17,635
31,747
------------
------------
Net assets
1,530,756
1,703,452
------------
------------
Capital and reserves
Called up share capital
100
100
Profit and loss account
1,530,656
1,703,352
------------
------------
Shareholders funds
1,530,756
1,703,452
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Geotechnical Observations Limited
Statement of Financial Position (continued)
30 April 2024
These financial statements were approved by the board of directors and authorised for issue on 22 January 2025 , and are signed on behalf of the board by:
DR A M Ridley
Director
Company registration number: 3965757
Geotechnical Observations Limited
Notes to the Financial Statements
Year ended 30 April 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Peter Vaughan Building, 9 Avro Way, Brooklands, Weybridge, Surrey, KT13 0YF.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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 financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
The turnover shown in the profit and loss account represents fees earned during the period, exclusive of Value Added Tax.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, 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. 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.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Software
-
20% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Research and development
Research expenditure is written off in the period in which it is incurred. Development expenditure incurred is capitalised as an intangible asset only when all of the following criteria are met: - It is technically feasible to complete the intangible asset so that it will be available for use or sale; - There is the intention to complete the intangible asset and use or sell it; - There is the ability to use or sell the intangible asset; - The use or sale of the intangible asset will generate probable future economic benefits; - There are adequate technical, financial and other resources available to complete the development and to use or sell the intangible asset; and - The expenditure attributable to the intangible asset during its development can be measured reliably. Expenditure that does not meet the above criteria is expensed as incurred.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts 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 equity, except to the extent 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 equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold property
-
2% straight line
Plant and equipment
-
20% straight line
Fixtures and fittings
-
5% straight line
Motor vehicles
-
25% reducing balance
Office furniture and equipment
-
20% straight line
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 stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
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. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
The company operates a defined contribution pension scheme on behalf of certain directors. The assets of the scheme are held separately from those of the company. Contributions are charged to the profit and loss account for the year in which they are payable to the schemes.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 21 (2023: 21 ).
5. Intangible assets
Development costs
£
Cost
At 1 May 2023
903,135
Additions
131,844
------------
At 30 April 2024
1,034,979
------------
Amortisation
At 1 May 2023
458,730
Charge for the year
192,408
------------
At 30 April 2024
651,138
------------
Carrying amount
At 30 April 2024
383,841
------------
At 30 April 2023
444,405
------------
6. Tangible assets
Freehold property
Plant and machinery
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
£
£
Cost
At 1 May 2023
580,826
378,913
121,897
43,231
129,420
1,254,287
Additions
6,629
3,980
10,609
---------
---------
---------
--------
---------
------------
At 30 Apr 2024
580,826
385,542
121,897
43,231
133,400
1,264,896
---------
---------
---------
--------
---------
------------
Depreciation
At 1 May 2023
174,241
295,004
91,427
27,021
114,532
702,225
Charge for the year
11,616
30,538
6,095
4,054
7,212
59,515
---------
---------
---------
--------
---------
------------
At 30 Apr 2024
185,857
325,542
97,522
31,075
121,744
761,740
---------
---------
---------
--------
---------
------------
Carrying amount
At 30 Apr 2024
394,969
60,000
24,375
12,156
11,656
503,156
---------
---------
---------
--------
---------
------------
At 30 Apr 2023
406,585
83,909
30,470
16,210
14,888
552,062
---------
---------
---------
--------
---------
------------
7. Debtors
2024
2023
£
£
Trade debtors
139,248
228,139
Other debtors
272,214
225,267
---------
---------
411,462
453,406
---------
---------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
50,000
Trade creditors
327,645
282,024
Corporation tax
25,920
Social security and other taxes
135,308
172,756
Other creditors
171,255
154,640
---------
---------
634,208
685,340
---------
---------
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
104,167
Other creditors
757
----
---------
104,924
----
---------
10. Related party transactions
The company was under the control of Dr A Ridley throughout the period. Dr A Ridley is the sole director and majority shareholder.