Registration number:
Geosho Technology Limited
for the Year Ended 31 August 2024
Geosho Technology Limited
Contents
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Company Information |
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Abridged Balance Sheet |
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Notes to the Unaudited Abridged Financial Statements |
Geosho Technology Limited
Company Information
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Directors |
S Fisher R Fisher |
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Registered office |
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Accountants |
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Geosho Technology Limited
(Registration number: 10324852)
Abridged Balance Sheet as at 31 August 2024
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Note |
2024 |
2023 |
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Current assets |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
- |
( |
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Total assets less current liabilities |
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Accruals and deferred income |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
100 |
100 |
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Retained earnings |
1,024 |
1,919 |
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Shareholders' funds |
1,124 |
2,019 |
For the financial year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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• |
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.
Approved and authorised by the
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......................................... |
Geosho Technology Limited
Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2024
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General information |
The company is a private company limited by share capital, incorporated in England & Wales.
The address of its registered office is:
England
These financial statements were authorised for issue by the
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
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 £.
Revenue recognition
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates
Tax
The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
Geosho Technology Limited
Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2024
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
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Asset class |
Depreciation method and rate |
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Plant and equipment |
20% reducing balance |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Geosho Technology Limited
Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2024
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Geosho Technology Limited
Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2024
Going concern
These financial statements are prepared on the going concern basis. Both the directors and the parent company will continue to support the company for the foreseeable future. At the time of approving the financial statements, the directors therefore have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis in preparing the financial statements.
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Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
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Tangible assets |
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Furniture, fittings and equipment |
Total |
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Cost or valuation |
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At 1 September 2023 |
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Disposals |
( |
( |
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At 31 August 2024 |
- |
- |
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Depreciation |
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At 1 September 2023 |
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Eliminated on disposal |
( |
( |
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At 31 August 2024 |
- |
- |
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Carrying amount |
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At 31 August 2024 |
- |
- |
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Share capital |
Allotted, called up and fully paid shares
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2024 |
2023 |
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No. |
£ |
No. |
£ |
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75 |
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75 |
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25 |
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25 |
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Geosho Technology Limited
Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2024
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Parent entity |
The company is a 100% subsidiary of Logitek Software Limited, a company incorporated in England & Wales. Its registered office is 1 The Beeches, Lydiard Millicent, Swindon, United Kingdom, SN5 3LT.