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NEEDHAM GEOSCIENCE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2024






NEEDHAM GEOSCIENCE LIMITED (REGISTERED NUMBER: 06361681)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


NEEDHAM GEOSCIENCE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2024







DIRECTORS: Dr D T Needham
Mrs F J Needham





SECRETARY: Mrs F J Needham





REGISTERED OFFICE: 47 Lawn Avenue
Burley in Wharfedale
West Yorkshire
LS29 7ET





REGISTERED NUMBER: 06361681 (England and Wales)





ACCOUNTANTS: Wilkinson and Partners
Suite 1.07
International Dev. Centre
Valley Road
Ilkley
West Yorkshire
LS29 8AL

NEEDHAM GEOSCIENCE LIMITED (REGISTERED NUMBER: 06361681)

BALANCE SHEET
31ST DECEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 10,842 3,184

CURRENT ASSETS
Debtors 5 25,050 60,157
Cash at bank 51,792 6,136
76,842 66,293
CREDITORS
Amounts falling due within one year 6 26,771 12,449
NET CURRENT ASSETS 50,071 53,844
TOTAL ASSETS LESS CURRENT LIABILITIES 60,913 57,028

CREDITORS
Amounts falling due after more than one
year

7

(14,954

)

(24,610

)

PROVISIONS FOR LIABILITIES 8 (2,166 ) (605 )
NET ASSETS 43,793 31,813

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 43,693 31,713
SHAREHOLDERS' FUNDS 43,793 31,813

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

NEEDHAM GEOSCIENCE LIMITED (REGISTERED NUMBER: 06361681)

BALANCE SHEET - continued
31ST DECEMBER 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21st March 2025 and were signed on its behalf by:





Dr D T Needham - Director


NEEDHAM GEOSCIENCE LIMITED (REGISTERED NUMBER: 06361681)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2024


1. STATUTORY INFORMATION

Needham Geoscience 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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents the net invoiced sales of services provided, excluding value added tax, except in respect of service contracts where turnover is recognised when the company obtains the right to consideration.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance
Computer equipment - 33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

NEEDHAM GEOSCIENCE LIMITED (REGISTERED NUMBER: 06361681)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st January 2024 40,948
Additions 14,655
Disposals (17,296 )
At 31st December 2024 38,307
DEPRECIATION
At 1st January 2024 37,764
Charge for year 6,438
Eliminated on disposal (16,737 )
At 31st December 2024 27,465
NET BOOK VALUE
At 31st December 2024 10,842
At 31st December 2023 3,184

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 24,160 58,983
Directors' current accounts - 679
Prepayments 890 495
25,050 60,157

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 5,890 5,890
Other loans 3,539 3,539
Trade creditors 2,384 155
Corporation tax 7,714 313
VAT 3,977 288
Directors' current accounts 929 -
Accrued expenses 2,338 2,264
26,771 12,449

NEEDHAM GEOSCIENCE LIMITED (REGISTERED NUMBER: 06361681)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 9,941 16,058
Other loans 5,013 8,552
14,954 24,610

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 2,166 605

Deferred
tax
£   
Balance at 1st January 2024 605
Provided during year 1,561
Balance at 31st December 2024 2,166

The movement in the deferred tax provision is wholly attributable to accelerated capital allowances.

9. CALLED UP SHARE CAPITAL

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

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31st December 2024 and 31st December 2023:

2024 2023
£    £   
Dr D T Needham and Mrs F J Needham
Balance outstanding at start of year 679 25,904
Amounts advanced 25,392 -
Amounts repaid (27,000 ) (25,225 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (929 ) 679

The directors loan account is interest free and repayable on demand.

NEEDHAM GEOSCIENCE LIMITED (REGISTERED NUMBER: 06361681)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024


11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Dr D T Needham.