Company registration number 12976716 (England and Wales)
GEOHN ESTATES (NORMANTON) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
GEOHN ESTATES (NORMANTON) LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 7
GEOHN ESTATES (NORMANTON) LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investment property
3
3,205,920
2,730,000
Current assets
Debtors
4
38,817
-
0
Cash at bank and in hand
98,432
167,763
137,249
167,763
Creditors: amounts falling due within one year
5
(2,389,549)
(2,507,965)
Net current liabilities
(2,252,300)
(2,340,202)
Total assets less current liabilities
953,620
389,798
Provisions for liabilities
(132,635)
(13,655)
Net assets
820,985
376,143
Capital and reserves
Called up share capital
8
1
1
Profit and loss reserves
820,984
376,142
Total equity
820,985
376,143

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 20 May 2025 and are signed on its behalf by:
S J Seddon
Director
Company Registration No. 12976716
GEOHN ESTATES (NORMANTON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
1
Accounting policies
Company information

Geohn Estates (Normanton) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit A2-A5 Plodder Lane, Farnworth, Bolton, England, BL4 0LR.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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 £.

The financial statements have been prepared under the historical cost convention, modified to include investment properties at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is the total amount of rent receivable by the company excluding Value Added Tax, and is attributable to continuing activities of the investment company. Turnover is recognised in the period to which it relates, is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured.

1.3
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with the bank.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

GEOHN ESTATES (NORMANTON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 3 -
Basic financial liabilities

Basic financial liabilities, including creditors and loans from related parties, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.8
Leases

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

GEOHN ESTATES (NORMANTON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 4 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
2
2

The directors did not receive any remuneration from the company in the current or prior year.

GEOHN ESTATES (NORMANTON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 5 -
3
Investment property
2024
£
Fair value
At 1 January 2024
2,730,000
Revaluations
475,920
At 31 December 2024
3,205,920

The investment properties brought forward of £2,730,000 were valued as at 30 September 2024 on a fair value basis by the directors. The directors consider this to be a fair value of the properties at 31 December 2024.

4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
38,817
-
0
5
Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings
2,261,873
2,314,215
Corporation tax
29,301
38,688
Other taxation and social security
-
0
3,566
Other creditors
98,375
151,496
2,389,549
2,507,965
GEOHN ESTATES (NORMANTON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
6
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2024
2023
Balances:
£
£
Investment property
132,635
13,655
2024
Movements in the year:
£
Liability at 1 January 2024
13,655
Charge to profit or loss
118,980
Liability at 31 December 2024
132,635
7
Operating lease commitments
Lessor

At the reporting end date the company had contracted with tenants for the following minimum lease payments:

2024
2023
£
£
894,813
286,345
8
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary share of £1 each of £1 each
1
1
1
1
9
Related party transactions

The company has taken the exemption conferred by Section 1A of FRS102, not to disclose transactions with members of the group headed by Geohn Group Limited.

 

Included within creditors at 31 December 2024 is an amount due to the parent company, Geohn Estates Limited, of £2,261,873 (2023: £2,314,215). This amount is unsecured and repayable on demand.

10
Parent company

The company is a wholly owned subsidiary of Geohn Estates Limited, a company incorporated in England and Wales, whose registered address and principal place of business is Units A2-A5, Edgefold Industrial Estate, Bolton, BL4 0LR.

The ultimate parent undertaking and controlling party is Geohn Group Limited.

GEOHN ESTATES (NORMANTON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 7 -
11
Profit and loss reserves

Included within the profit and loss reserves are non distributable reserves totalling £397,905 (2023: £40,965) in relation to investment properties held at fair value.

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