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REGISTERED NUMBER: SC487766 (Scotland)








UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

GEOLIVE LTD

GEOLIVE LTD (REGISTERED NUMBER: SC487766)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 6

Chartered Accountants' Report 7

GEOLIVE LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTOR: Mrs O M Hamilton





REGISTERED OFFICE: 7 Robert Leonard Industrial Centre
Kirkhill Industrial Estate
ABERDEEN
AB21 0GG





REGISTERED NUMBER: SC487766 (Scotland)





ACCOUNTANTS: Bain Henry Reid
Chartered Accountants
4 West Craibstone Street
Bon-Accord Square
ABERDEEN
AB11 6YL

GEOLIVE LTD (REGISTERED NUMBER: SC487766)

BALANCE SHEET
30 SEPTEMBER 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 8,946 11,645
8,946 11,645

CURRENT ASSETS
Stocks 14,640 38,779
Debtors 6 33,374 46,757
Cash at bank 106,457 54,302
154,471 139,838
CREDITORS
Amounts falling due within one year 7 142,227 154,434
NET CURRENT ASSETS/(LIABILITIES) 12,244 (14,596 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

21,190

(2,951

)

PROVISIONS FOR LIABILITIES 1,700 -
NET ASSETS/(LIABILITIES) 19,490 (2,951 )

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings 19,480 (2,961 )
SHAREHOLDERS' FUNDS 19,490 (2,951 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

GEOLIVE LTD (REGISTERED NUMBER: SC487766)

BALANCE SHEET - continued
30 SEPTEMBER 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 7 May 2025 and were signed by:





Mrs O M Hamilton - Director


GEOLIVE LTD (REGISTERED NUMBER: SC487766)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024


1. STATUTORY INFORMATION

Geolive Ltd is a private company, limited by shares , registered in Scotland. 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 company meets its day to day working capital requirements through a director's loan account. The director has confirmed they intend to continue to provide support from their own resources for a period of at least twelve months from the date of signing the accounts. The director therefore believes that the company is a going concern and consequently the financial statements have been prepared on the going concern basis.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover includes revenue earned from the sale of goods.

Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for purchase of the goods.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of three years.

Franchise licence
Franchise fee, being the amount paid in connection with the acquisition of the franchise in 2015, is being amortised evenly over its estimated useful life of three 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.
Plant and machinery etc - 33% on cost, 25% on cost and 20% on cost

Stocks
Stocks are valued at the lower of cost and estimated selling price less costs to sell.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss.

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.

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.

GEOLIVE LTD (REGISTERED NUMBER: SC487766)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


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 4 (2023 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 October 2023
and 30 September 2024 29,700 8,500 38,200
AMORTISATION
At 1 October 2023
and 30 September 2024 29,700 8,500 38,200
NET BOOK VALUE
At 30 September 2024 - - -
At 30 September 2023 - - -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 October 2023 100,963
Additions 3,346
At 30 September 2024 104,309
DEPRECIATION
At 1 October 2023 89,318
Charge for year 6,045
At 30 September 2024 95,363
NET BOOK VALUE
At 30 September 2024 8,946
At 30 September 2023 11,645

GEOLIVE LTD (REGISTERED NUMBER: SC487766)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 29,143 40,771
Other debtors 4,231 5,986
33,374 46,757

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 6,946 11,169
Taxation and social security 14,602 13,620
Other creditors 120,679 129,645
142,227 154,434

8. OTHER FINANCIAL COMMITMENTS

Amounts outstanding at the year end relating to the defined contribution pension scheme totalled £386 (2023: £232) which are included within other creditors.

Operating Leases
At the year end the company had obligations under non-cancellable operating leases totalling £204,552 (2023: £210,585).

Non-cancellable operating leases relate to lease agreements for property (which expire in 2034) and for a motor vehicle (which expires in 2026).

9. RELATED PARTY DISCLOSURES

Details of director's loan account transactions and the year end balance are as follows:

20242023
£   £   

Amount due to the director at start of the year113,833115,103
Received from the director during the year--
Paid to the director during the year(716)(1,270)
Amount due to the director at end of the year113,117113,833

The loan has no set repayment terms and no interest is chargeable.

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
GEOLIVE 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 Balance Sheet. 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.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Geolive Ltd for the year ended 30 September 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at https://icas.com/icas-framework-preparation-of-accounts.

This report is made solely to the director of Geolive Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Geolive Ltd and state those matters that we have agreed to state to the director of Geolive Ltd in this report in accordance with the requirements of ICAS as detailed at https://icas.com/icas-framework-preparation-of-accounts. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Geolive Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Geolive Ltd. You consider that Geolive Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Geolive Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Bain Henry Reid
Chartered Accountants
4 West Craibstone Street
Bon-Accord Square
ABERDEEN
AB11 6YL


7 May 2025