ACCOUNTS - Final Accounts preparation

Registered number: 08477415

GEOINNOVATIONS LTD

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

GEOINNOVATIONS LTD

REGISTERED NUMBER: 08477415

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2024

		2024		2023
Note	£	£	£	£

Fixed assets
Tangible assets	4		2,253		3,094
			2,253		3,094
Current assets
Debtors: amounts falling due within one year	5	23,352		16,287
Cash at bank and in hand	6	95,086		82,540
		118,438		98,827
Creditors: amounts falling due within one year	7	(22,852)		(25,130)
Net current assets			95,586		73,697
Total assets less current liabilities			97,839		76,791

Net assets			97,839		76,791

Capital and reserves
Called up share capital	8	24	24
Profit and loss account		97,815	76,767
		97,839	76,791

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GEOINNOVATIONS LTD

REGISTERED NUMBER: 08477415

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 DECEMBER 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the Statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 25 September 2025.

D N Kitching

Director

The notes on pages 3 to 7 form part of these financial statements.

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GEOINNOVATIONS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.	General information

Geoinnovations Ltd is a company limited by shares, incorporated in England and Wales. The address of the registered office is 3 Brook Business Centre, Cowley Mill Road, Uxbridge, Middlesex, United Kingdom, UB8 2FX.

The company specialises in manufacturing activities.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

2.3

Interest income

Interest income is recognised in the Statement of comprehensive income using the effective interest method.

2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment

25% Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of comprehensive income.

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GEOINNOVATIONS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.8

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Employees

The average monthly number of employees, including the directors, during the year was 2 (2023 - 2).

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GEOINNOVATIONS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

4.	Tangible fixed assets

		Office equipment
		£
	Cost
	At 1 January 2024	5,350
	Additions	508
	At 31 December 2024	5,858
	Depreciation
	At 1 January 2024	2,256
	Charge for the year	1,349
	At 31 December 2024	3,605
	Net book value
	At 31 December 2024	2,253
	At 31 December 2023	3,094

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GEOINNOVATIONS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Debtors

					2024	2023
					£	£


Trade debtors	22,764	14,105
Other debtors	588	2,182
	23,352	16,287

6.	Cash and cash equivalents
		2024	2023
		£	£

Cash at bank and in hand	95,086	82,540
	95,086	82,540

7.	Creditors: Amounts falling due within one year
		2024	2023
		£	£

Trade creditors	15,562	21,804
Corporation tax	-	201
Other taxation and social security	-	835
Other creditors	5,340	340
Accruals and deferred income	1,950	1,950
	22,852	25,130

8.	Share capital
		2024	2023
		£	£

Allotted, called up and fully paid

24 Ordinary shares of £1 each	24	24

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GEOINNOVATIONS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Related party transactions

Included within other creditors is an amount of £5,340 (2023 - £340) due to a director.

During the year, management charges of £15,920 (2023 - £19,426) were charged by companies with a common director.

Included within trade debtors is an amount of £17,210 (2023 - £11,711) due from companies with a common director.

Included within trade creditors is an amount of £14,657 (2023 - £13,711) due to companies with a common director.

10.	Controlling party

The company is under the control of the directors by virtue of their majority shareholding in the company.

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