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REGISTERED NUMBER: 07863778 (England and Wales)








Unaudited Financial Statements

for the Year Ended 30 November 2024

for

Geo-Drill Services Limited

Geo-Drill Services Limited (Registered number: 07863778)






Contents of the Financial Statements
for the Year Ended 30 November 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Geo-Drill Services Limited

Company Information
for the Year Ended 30 November 2024







DIRECTOR: P Turnbull





REGISTERED OFFICE: 6 Queens Court
Third Avenue
Team Valley
Gateshead
Tyne and Wear
NE11 0BU





REGISTERED NUMBER: 07863778 (England and Wales)





ACCOUNTANTS: Inspire Chartered Accountants
6 Queens Court
Third Avenue
Team Valley
Gateshead
Tyne and Wear
NE11 0BU

Geo-Drill Services Limited (Registered number: 07863778)

Balance Sheet
30 November 2024

30.11.24 30.11.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 9,888 31,206
Investment property 5 523,000 523,000
532,888 554,206

CURRENT ASSETS
Debtors 6 113,074 95
Cash at bank and in hand 687 81,030
113,761 81,125
CREDITORS
Amounts falling due within one year 7 130,045 115,632
NET CURRENT LIABILITIES (16,284 ) (34,507 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

516,604

519,699

CREDITORS
Amounts falling due after more than one
year

8

(162,237

)

(174,860

)

PROVISIONS FOR LIABILITIES (28,067 ) (33,396 )
NET ASSETS 326,300 311,443

Geo-Drill Services Limited (Registered number: 07863778)

Balance Sheet - continued
30 November 2024

30.11.24 30.11.23
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 326,200 311,343
SHAREHOLDERS' FUNDS 326,300 311,443

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

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

The director acknowledges his 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.

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 director and authorised for issue on 28 July 2025 and were signed by:





P Turnbull - Director


Geo-Drill Services Limited (Registered number: 07863778)

Notes to the Financial Statements
for the Year Ended 30 November 2024

1. STATUTORY INFORMATION

Geo-Drill Services 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.

The financial statements have been prepared on a going concern basis. This assumes that the company will continue to trade for the foreseeable future. In order to do so it relies on continued support from its creditors. Should the company no longer receive such support, the fixed assets will need to be reclassified as current assets and long term liabilities as current liabilities.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.


Geo-Drill Services Limited (Registered number: 07863778)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 December 2023
and 30 November 2024 172,987
DEPRECIATION
At 1 December 2023 141,781
Charge for year 21,318
At 30 November 2024 163,099
NET BOOK VALUE
At 30 November 2024 9,888
At 30 November 2023 31,206

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2023
and 30 November 2024 523,000
NET BOOK VALUE
At 30 November 2024 523,000
At 30 November 2023 523,000

Geo-Drill Services Limited (Registered number: 07863778)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.24 30.11.23
£    £   
Other debtors 113,074 95

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.24 30.11.23
£    £   
Bank loans and overdrafts 17,340 17,340
Trade creditors 150 118
Taxation and social security 29,803 37,437
Other creditors 82,752 60,737
130,045 115,632

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
30.11.24 30.11.23
£    £   
Bank loans 162,237 174,860

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 92,877 105,500

9. SECURED DEBTS

The following secured debts are included within creditors:

30.11.24 30.11.23
£    £   
Bank loans 179,577 192,200

The bank loan is secured by a charge over the investment property.

10. RELATED PARTY DISCLOSURES

During the year the company repaid £174,425 to Geo - Drill Limited, a company of which Paul Turnbull is sole director.

The debit balance at the year end is £88,635 (2023: credit balance of £21,071).