Company Registration No. 02039116 (England and Wales)
Geoplan Spatial Intelligence Limited
Unaudited financial statements
for the year ended 31 January 2025
Pages for filing with the registrar
Geoplan Spatial Intelligence Limited
Contents
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 10
Geoplan Spatial Intelligence Limited
Statement of financial position
As at 31 January 2025
31 January 2025
1
2025
2024
Notes
£
£
£
£
Fixed assets
Intangible assets
4
3,253
250,738
Tangible assets
5
1,305,685
1,355,112
Investment property
6
3,136,995
3,071,000
Investments
7
89,995
4,535,928
4,676,850
Current assets
Debtors
8
682,262
936,799
Cash at bank and in hand
226,432
236,979
908,694
1,173,778
Creditors: amounts falling due within one year
9
(769,019)
(1,405,277)
Net current assets/(liabilities)
139,675
(231,499)
Total assets less current liabilities
4,675,603
4,445,351
Provisions for liabilities
(345,021)
(375,516)
Net assets
4,330,582
4,069,835
Capital and reserves
Called up share capital
150,000
150,000
Revaluation reserve
826,705
826,705
Capital redemption reserve
60,000
60,000
Profit and loss reserves
3,293,877
3,033,130
Total equity
4,330,582
4,069,835
The directors of the company have elected not to include a copy of the income statement within the financial statements.true
For the financial year ended 31 January 2025 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.
Geoplan Spatial Intelligence Limited
Statement of financial position (continued)
As at 31 January 2025
31 January 2025
2
The financial statements were approved by the board of directors and authorised for issue on 4 June 2025 and are signed on its behalf by:
Sara McCartney
Director
Company Registration No. 02039116
Geoplan Spatial Intelligence Limited
Notes to the financial statements
For the year ended 31 January 2025
3
1
Accounting policies
Company information
Geoplan Spatial Intelligence Limited is a private company limited by shares incorporated in England and Wales. The registered office is Bilton Court, Wetherby Road, Harrogate, North Yorkshire, HG3 1GP.
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 the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Going concern
The directors have reviewed the company's forecasts and projections, including its future cash flows, available lending facilities, and have considered possible changes in trading performance. true
After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis of preparing the annual report and financial statements.
1.3
Turnover
Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the balance sheet date, turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the balance sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.
1.4
Research and development expenditure
Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.
1.5
Intangible fixed assets other than goodwill
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.
Geoplan Spatial Intelligence Limited
Notes to the financial statements (continued)
For the year ended 31 January 2025
1
Accounting policies (continued)
4
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Patents & licences
10 years
Development costs
10 years
1.6
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings
Nil
Plant and equipment
4 years on a straight line basis
Fixtures and fittings
5 years on a straight line basis
Computers
4 years on a straight line basis
Motor vehicles
4 years on a straight line basis
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.7
Investment property
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.
1.8
Fixed asset investments
Fixed asset investments are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.
1.9
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
1.10
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Geoplan Spatial Intelligence Limited
Notes to the financial statements (continued)
For the year ended 31 January 2025
1
Accounting policies (continued)
5
1.11
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 statement of financial position 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, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
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.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
1.12
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.
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.
1.13
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Geoplan Spatial Intelligence Limited
Notes to the financial statements (continued)
For the year ended 31 January 2025
1
Accounting policies (continued)
6
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement 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. Where items recognised in other comprehensive income or equity are chargeable to or deductible for tax purposes, the resulting current or deferred tax expense or income is presented in the same component of comprehensive income or equity as the transaction or other event that resulted in the tax expense or income. 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.
1.14
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.15
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.16
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
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.
1.17
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
Geoplan Spatial Intelligence Limited
Notes to the financial statements (continued)
For the year ended 31 January 2025
7
2
Critical accounting judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. Management do not believe there to be any critical accounting judgements or key sources of estimation uncertainty applied in the preparation of these financial statements.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2025
2024
Number
Number
Total
10
10
4
Intangible fixed assets
Other
£
Cost
At 1 February 2024
1,991,351
Additions
26,065
At 31 January 2025
2,017,416
Amortisation and impairment
At 1 February 2024
1,740,613
Amortisation charged for the year
273,550
At 31 January 2025
2,014,163
Carrying amount
At 31 January 2025
3,253
At 31 January 2024
250,738
Geoplan Spatial Intelligence Limited
Notes to the financial statements (continued)
For the year ended 31 January 2025
8
5
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost or valuation
At 1 February 2024
1,250,000
472,789
1,722,789
Additions
39,266
17,778
57,044
Disposals
(132,493)
(132,493)
At 31 January 2025
1,289,266
358,074
1,647,340
Depreciation and impairment
At 1 February 2024
367,677
367,677
Depreciation charged in the year
106,471
106,471
Eliminated in respect of disposals
(132,493)
(132,493)
At 31 January 2025
341,655
341,655
Carrying amount
At 31 January 2025
1,289,266
16,419
1,305,685
At 31 January 2024
1,250,000
105,112
1,355,112
The property portfolio was last revalued in September 2023 and resulted in a revaluation gain of £447,815 in the prior year.
6
Investment property
2025
£
Fair value
At 1 February 2024
3,071,000
Additions
65,995
At 31 January 2025
3,136,995
Investment properties were last valued in June 2023 by Carter Jonas and resulted in a revaluation gain of £476,629 in the prior year. The directors believe there has been no significant change to the value since then.
7
Fixed asset investments
2025
2024
£
£
Other investments other than loans
89,995
Geoplan Spatial Intelligence Limited
Notes to the financial statements (continued)
For the year ended 31 January 2025
7
Fixed asset investments (continued)
9
Movements in fixed asset investments
Investments
£
Cost or valuation
At 1 February 2024
-
Additions
89,995
At 31 January 2025
89,995
Carrying amount
At 31 January 2025
89,995
At 31 January 2024
-
8
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
99,278
154,359
Corporation tax recoverable
150,226
161,382
Other debtors
432,758
621,058
682,262
936,799
9
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
737,175
Trade creditors
81,309
30,802
Corporation tax
18,980
Other taxation and social security
101,320
78,400
Other creditors
567,410
558,900
769,019
1,405,277
The bank loans were repaid in full during the year.
The company utilises a bank overdraft, which is secured on freehold land and buildings with a carrying value of £1,289,266 (2024: £1,250,000) and investment properties with a carrying value of £3,136,995 (2024: £3,071,000).
Geoplan Spatial Intelligence Limited
Notes to the financial statements (continued)
For the year ended 31 January 2025
10
10
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2025
2024
£
£
2,633
482
11
Directors' transactions
Interest free, unsecured loans have been granted by the company to its directors as follows:
Description
% Rate
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
Unsecured loan to Director
-
571,559
44,390
(219,995)
395,954
571,559
44,390
(219,995)
395,954
12
Controlling party
In the opinion of the directors, Mr J W Taylor is the company's controlling party by virtue of their majority shareholding in the company.
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