Geometal Limited

	Page
Balance Sheet	1
Notes to the Financial Statements	2—4

Registered number: 12526742

		2024		2023 as restated
	Notes	£	£	£	£
CURRENT ASSETS
Debtors	4	1,636,207		2,713,665
Cash at bank and in hand		1,144,722		1,111,256

		2,780,929		3,824,921
Creditors: Amounts Falling Due Within One Year	5	(670,606 )		(894,839 )

NET CURRENT ASSETS (LIABILITIES)			2,110,323		2,930,082

TOTAL ASSETS LESS CURRENT LIABILITIES			2,110,323		2,930,082

Creditors: Amounts Falling Due After More Than One Year	6		(31,230 )		(2,118,885 )

NET ASSETS			2,079,093		811,197

CAPITAL AND RESERVES
Called up share capital	7		1,995,100		260,100
Profit and Loss Account			83,993		551,097

SHAREHOLDERS' FUNDS			2,079,093		811,197

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

The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr. Michalis Christoforou

Director

16/09/2025

The notes on pages 2 to 4 form part of these financial statements.

1. General Information

Geometal Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12526742 . The registered office is Christie & Co, Crews Hill Golf Club, Cattlegate Road, Enfield, EN2 8AZ.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2.4. Taxation

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

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 1 (2023: 1)

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Geometal Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

4. Debtors

	2024	2023 as restated
	£	£
Due within one year
Trade debtors	799,927	1,292,253
Prepayments and accrued income	632,799	1,255,601
Corporation tax recoverable assets	1,690	-
VAT	1,000	4,344
Amounts owed by group undertakings	-	161,467

	1,435,416	2,713,665
Due after more than one year
Amounts owed by associates	200,791	-

	1,636,207	2,713,665

5. Creditors: Amounts Falling Due Within One Year

	2024	2023 as restated
	£	£
Bank loans and overdrafts	229,799	-
Corporation tax	16,649	116,498
Accruals and deferred income	424,158	778,341

	670,606	894,839

6. Creditors: Amounts Falling Due After More Than One Year

	2024	2023 as restated
	£	£
Amounts owed to parent undertaking	31,230	-
Amounts owed to related parties	-	2,118,885

	31,230	2,118,885

7. Share Capital

	2024	2023 as restated
Allotted, called up and fully paid	£	£
100 Ordinary Shares of £ 1.000 each	100	100

Preference Shares

	2024	2023 as restated
Allotted, called up and fully paid	£	£
1,995,000 Preference Shares of £ 1.000 each	1,995,000	260,000


Shares issued during the period:	£
1,735,000 Preference Shares of £ 1.000 each	1,735,000

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Geometal Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

8. Dividends

	2024	2023 as restated
	£	£
On equity shares:
Final dividend paid	518,000	-

9. Related Party Transactions

Geometal (Cyprus) Ltd

Associate

Debtor £200,791 (2023: £0)

During the year the company advanced a loan of £198,999 to Geometal (Cyprus) Ltd. The above loan is unsecured and repayable on demand. Interest is charged at 3.5% per annum.

10. Ultimate Parent Undertaking and Controlling Party

The company's immediate and ultimate parent undertaking is Geobel Ltd . Geobel Ltd was incorporated in Cyprus.

The registered office address of Geobel Ltd is Armenias, 11, Flat 4 Strovolos 2003, Nicosia, Cyprus . The ultimate controlling party is Mr Filippos Kotsis who controls 100% of the shares of Geometal Limited .

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