ACCOUNTS - Final Accounts

Registered number: 02113729

G.B. GEOTECHNICS LIMITED

FILLETED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

G.B. GEOTECHNICS LIMITED

REGISTERED NUMBER: 02113729

CONSOLIDATED BALANCE SHEET

AS AT 31 MARCH 2025

		2025		2024
Note		£		£

Fixed assets
Intangible assets	5		111,456		139,430
Tangible assets	6		566,044		690,736
Investments	7		120,621		114,957
			798,121		945,123
Current assets
Stocks	8	22,212		42,153
Debtors: amounts falling due within one year	9	1,037,714		1,056,859
Cash at bank and in hand	10	799,689		457,900
		1,859,615		1,556,912
Creditors: amounts falling due within one year	11	(1,169,385)		(1,138,828)
Net current assets			690,230		418,084
Total assets less current liabilities			1,488,351		1,363,207
Creditors: amounts falling due after more than one year	12		(106,851)		(169,767)
Provisions for liabilities
Deferred taxation	15	(25,311)		(15,319)
			(25,311)		(15,319)
Net assets			1,356,189		1,178,121

Page 1

G.B. GEOTECHNICS LIMITED

REGISTERED NUMBER: 02113729

CONSOLIDATED BALANCE SHEET (CONTINUED)

AS AT 31 MARCH 2025

		2025		2024
Note		£		£

Capital and reserves
Called up share capital	16	77,493	77,091
Share premium account		74,490	74,490
Profit and loss account		827,950	685,588
Equity attributable to owners of the parent Company		979,933	837,169
Non-controlling interests		376,256	340,952
		1,356,189	1,178,121

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 consolidated profit and loss account 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 4 December 2025.

G S Ballard

Director

The notes on pages 7 to 22 form part of these financial statements.

Page 2

G.B. GEOTECHNICS LIMITED

REGISTERED NUMBER: 02113729

COMPANY BALANCE SHEET

AS AT 31 MARCH 2025

		2025		2024
Note		£		£

Fixed assets
Tangible assets	6		122,393		150,877
Investments	7		420		420
			122,813		151,297
Current assets
Stocks	8	-		25,200
Debtors: amounts falling due within one year	9	1,166,306		1,251,833
Cash at bank and in hand	10	395,696		3,433
		1,562,002		1,280,466
Creditors: amounts falling due within one year	11	(917,985)		(757,525)
Net current assets			644,017		522,941
Total assets less current liabilities			766,830		674,238

Creditors: amounts falling due after more than one year	12		(59,065)		(114,430)
Provisions for liabilities
Deferred taxation	15	(25,311)		(15,319)
			(25,311)		(15,319)
Net assets			682,454		544,489

Page 3

G.B. GEOTECHNICS LIMITED

REGISTERED NUMBER: 02113729

COMPANY BALANCE SHEET (CONTINUED)

AS AT 31 MARCH 2025

	2025	2024
Note	£	£

Capital and reserves
Called up share capital	16		77,493		77,091
Share premium account			74,490		74,490
Profit and loss account brought forward		392,908		696,247
(Loss)/profit for the year		158,982		(283,215)
Other changes in the profit and loss account		(21,419)		(20,124)
Profit and loss account carried forward			530,471		392,908
			682,454		544,489

The directors consider that the Company is entitled to exemption from the requirement to have an audit under the provisions of 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 Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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 consolidated profit and loss account 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 4 December 2025.

G S Ballard

Director

The notes on pages 7 to 22 form part of these financial statements.

Page 4


		G.B. GEOTECHNICS LIMITED

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 MARCH 2025

	Called up share capital	Share premium account	Profit and loss account	Equity attributable to owners of parent Company	Non-controlling interests	Total equity
	£	£	£	£	£	£
At 1 April 2023	77,091	74,490	996,083	1,147,664	297,431	1,445,095

Loss for the year	-	-	(267,621)	(267,621)	58,313	(209,308)
Currency translation differences	-	-	(22,750)	(22,750)	(14,792)	(37,542)
Dividends: Equity capital	-	-	(20,124)	(20,124)	-	(20,124)

At 1 April 2024	77,091	74,490	685,588	837,169	340,952	1,178,121

Profit for the year	-	-	214,837	214,837	61,666	276,503
Currency translation differences	-	-	(51,056)	(51,056)	(26,362)	(77,418)
Dividends: Equity capital	-	-	(21,464)	(21,464)	-	(21,464)
Purchase of own shares	-	-	45	45	-	45
Shares issued during the year	402	-	-	402	-	402
At 31 March 2025	77,493	74,490	827,950	979,933	376,256	1,356,189

The notes on pages 7 to 22 form part of these financial statements.

Page 5

G.B. GEOTECHNICS LIMITED

COMPANY STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 MARCH 2025

	Called up share capital	Share premium account	Profit and loss account	Total equity
	£	£	£	£
At 1 April 2023	77,091	74,490	696,247	847,828

Loss for the year	-	-	(283,215)	(283,215)
Dividends: Equity capital	-	-	(20,124)	(20,124)

At 1 April 2024	77,091	74,490	392,908	544,489

Profit for the year	-	-	158,982	158,982
Dividends: Equity capital	-	-	(21,464)	(21,464)
Purchase of own shares	-	-	45	45
Shares issued during the year	402	-	-	402
At 31 March 2025	77,493	74,490	530,471	682,454

The notes on pages 7 to 22 form part of these financial statements.

Page 6

G.B. GEOTECHNICS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1.	General information

G.B. Geotechnics Limited is a private company limited by shares and incorporated in England and Wales, registration number 02113729. The company heads a group with subsidiaries in the USA and Australia which provides structural investigation services.
The address of its registered office is Unit 2 Downing Park, Swaffham Bulbeck, Cambridge, CB25 0NW.

2.Accounting policies

2.1

Basis of preparation of financial statements

The consolidated 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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires Group management to exercise judgment in applying the Group's accounting policies.

The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Profit and loss account in these financial statements.

The following principal accounting policies have been applied:

2.2

Going concern

The financial statements have been prepared on a going concern basis. The directors have considered the 12 months following the date of signing the accounts and consider the Group to be a going concern.

2.3

Basis of consolidation

The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Balance sheet, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated profit and loss account from the date on which control is obtained. They are deconsolidated from the date control ceases.
In accordance with the transitional exemption available in FRS 102, the Group has chosen not to retrospectively apply the standard to business combinations that occurred before the date of transition to FRS 102, being 01 April 2015.

Page 7

G.B. GEOTECHNICS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.4

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Consolidated profit and loss account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

On consolidation, the results of overseas operations are translated into Sterling at rates approximating to those ruling when the transactions took place. All assets and liabilities of overseas operations are translated at the rate ruling at the reporting date. Exchange differences arising on translating the opening net assets at opening rate and the results of overseas operations at actual rate are recognised in other comprehensive income.

2.5

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Group 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. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Group will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

Page 8

G.B. GEOTECHNICS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.6

Operating leases: the Group as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

2.7

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.8

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.9

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

2.10

Pensions

Defined contribution pension plan

The Group operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Group pays fixed contributions into a separate entity. Once the contributions have been paid the Group has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in other creditors as a liability in the Balance sheet. The assets of the plan are held separately from the Group in independently administered funds.

Page 9

G.B. GEOTECHNICS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.11

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company and the Group operate and generate income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

2.12

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of the Group's share of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Consolidated profit and loss account over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Page 10

G.B. GEOTECHNICS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.13

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.

At each reporting date the Group assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

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

Depreciation is provided on the following basis:

Long-term leasehold property	-	over the period of the lease
Plant and machinery	-	15% reducing balance
Motor vehicles	-	25% reducing balance
Office equipment	-	15% reducing balance and 33% on cost

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 profit or loss.

2.14

Impairment of fixed assets and goodwill

Assets that are subject to depreciation or amortisation are assessed at each balance sheet date to determine whether there is any indication that the assets are impaired. where there is any indication that an asset may be impaired, the carrying value of the asset (or cash-generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceed its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (CGU's). Non-financial assets that have been previously impaired are reviewed at each balance sheet date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.

2.15

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Page 11

G.B. GEOTECHNICS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.16

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

2.17

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.

2.18

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.

2.19

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.

2.20

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.

Increases in provisions are generally charged as an expense to profit or loss.

2.21

Financial instruments

The Group has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Group's Balance sheet when the Group 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.

Page 12

G.B. GEOTECHNICS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.21

Financial instruments (continued)

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Group's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Impairment of financial assets

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

Page 13

G.B. GEOTECHNICS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.21

Financial instruments (continued)

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

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 Group after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans, other loans and loans due to fellow group companies are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Group transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Group will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Group's contractual obligations expire or are discharged or cancelled.

2.22

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.

Page 14

G.B. GEOTECHNICS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Employees

The average monthly number of employees, including directors, during the year was 80 (2024 - 78).

4.	Parent company profit for the year

The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Profit and loss account in these financial statements. The profit after tax of the parent Company for the year was £158,982 (2024 - loss £283,215).

5.	Intangible assets
	Group

		Goodwill
		£
	Cost
	At 1 April 2024	175,345
	Foreign exchange movement	(11,599)
	At 31 March 2025	163,746
	Amortisation
	At 1 April 2024	35,915
	Charge for the year	16,375
	At 31 March 2025	52,290
	Net book value
	At 31 March 2025	111,456
	At 31 March 2024	139,430

Page 15

G.B. GEOTECHNICS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

6.	Tangible fixed assets
	Group

	Long-term leasehold property	Plant and machinery	Motor vehicles	Total
	£	£	£	£
Cost or valuation
At 1 April 2024	10,566	1,927,310	226,744	2,164,620
Additions	-	75,282	6,995	82,277
Disposals	-	(5,259)	(438)	(5,697)
Exchange adjustments	-	58,148	1,388	59,536
At 31 March 2025	10,566	2,055,481	234,689	2,300,736
Depreciation
At 1 April 2024	9,314	1,321,180	143,390	1,473,884
Charge for the year	1,252	146,091	22,408	169,751
Disposals	-	(3,143)	-	(3,143)
Exchange adjustments	-	89,653	4,547	94,200
At 31 March 2025	10,566	1,553,781	170,345	1,734,692
Net book value
At 31 March 2025	-	501,700	64,344	566,044
At 31 March 2024	1,252	606,130	83,354	690,736

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:
	2025	2024
	£	£


Plant and machinery	5,151	6,814
Motor vehicles	12,059	17,049
	17,210	23,863

Page 16

G.B. GEOTECHNICS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

6.Tangible fixed assets (continued)

	Company

	Long-term leasehold property	Plant and machinery	Motor vehicles	Total
	£	£	£	£
Cost or valuation
At 1 April 2024	10,566	720,476	63,774	794,816
Additions	-	901	6,995	7,896
Disposals	-	(4,790)	-	(4,790)
At 31 March 2025	10,566	716,587	70,769	797,922
Depreciation
At 1 April 2024	9,314	599,656	34,969	643,939
Charge for the year	1,252	23,241	10,240	34,733
Disposals	-	(3,143)	-	(3,143)
At 31 March 2025	10,566	619,754	45,209	675,529
Net book value
At 31 March 2025	-	96,833	25,560	122,393
At 31 March 2024	1,252	120,820	28,805	150,877

Page 17

G.B. GEOTECHNICS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

7.	Fixed asset investments
	Group

		Unlisted investments
		£
	Cost or valuation
	At 1 April 2024	114,957
	Additions	5,664
	At 31 March 2025	120,621

	Company

		Investments in subsidiary companies
		£
	Cost or valuation
	At 1 April 2024	420
	At 31 March 2025	420

Subsidiary undertakings
The following were subsidiary undertakings of the Company:
Name	Registered office	Class of shares	Holding

	GB Geotechnics Australia Pty Ltd	New South Wales	Ordinary	70%
	GB Geotechnics USA Inc	New York	Ordinary	100%

8.	Stocks
		Group	Group	Company	Company
		2025	2024	2025	2024
		£	£	£	£

Long-term contract balances	22,212	42,153	-	25,200
	22,212	42,153	-	25,200

Page 18

G.B. GEOTECHNICS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Debtors

Group	Group	Company	Company
2025	2024	2025	2024
£	£	£	£


Trade debtors	855,824	831,411	482,197	479,010
Amounts owed by group undertakings	-	-	570,938	608,028
Other debtors	127,265	131,020	61,359	73,305
Prepayments and accrued income	54,625	94,428	51,812	91,490
	1,037,714	1,056,859	1,166,306	1,251,833

10.	Cash and cash equivalents
		Group	Group	Company	Company
		2025	2024	2025	2024
		£	£	£	£

Cash at bank and in hand	799,689	457,900	395,696	3,433
Less: bank overdrafts	-	(4,021)	-	(4,021)
	799,689	453,879	395,696	(588)

11.	Creditors: Amounts falling due within one year
		Group	Group	Company	Company
		2025	2024	2025	2024
		£	£	£	£

Bank overdrafts	-	4,021	-	4,021
Bank loans	62,386	66,128	50,000	50,000
Payments received on account	55,013	-	55,013	-
Trade creditors	140,944	256,680	107,428	218,924
Amounts owed to group undertakings	-	-	101,001	-
Other taxation and social security	379,174	304,555	220,633	144,931
Obligations under finance lease and hire purchase contracts	8,091	9,741	5,416	4,721
Other creditors	268,852	247,703	251,444	245,365
Accruals and deferred income	254,925	250,000	127,050	89,563
	1,169,385	1,138,828	917,985	757,525

Hire purchase liabilities are secured on the assets concerned.
Bank loans are secured by fixed and floating charges over all tangible fixed assets of the company.

Page 19

G.B. GEOTECHNICS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

12.	Creditors: Amounts falling due after more than one year
		Group	Group	Company	Company
		2025	2024	2025	2024
		£	£	£	£

Bank loans	97,786	155,337	50,000	100,000
Net obligations under finance leases and hire purchase contracts	9,065	14,430	9,065	14,430
	106,851	169,767	59,065	114,430

13.	Loans
	Analysis of the maturity of loans is given below:
		Group	Group	Company	Company
		2025	2024	2025	2024
		£	£	£	£

Bank loans due within 1 year	62,386	66,128	50,000	50,000
Bank loans due within 1-2 years	65,061	66,128	50,000	50,000
Bank loans due within 2-5 years	32,725	89,210	-	50,000
Total loans liabilities	160,172	221,466	100,000	150,000

14.	Hire purchase and finance leases
	Minimum lease payments under hire purchase fall due as follows:
		Group	Group	Company	Company
		2025	2024	2025	2024
		£	£	£	£

Within one year	7,632	8,996	5,416	6,622
Between 1-5 years	9,065	18,334	9,065	16,554
	16,697	27,330	14,481	23,176

Page 20

G.B. GEOTECHNICS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

15.	Deferred taxation
	Group and Company

	Group and company 2025	Group and Company 2024
	£	£

At beginning of year	(15,319)	(29,218)
Charged to profit or loss	(9,992)	13,899
At end of year	(25,311)	(15,319)

The provision for deferred taxation is made up as follows:
	Group	Group	Company	Company
	2025	2024	2025	2024
	£	£	£	£

Accelerated capital allowances	(28,522)	(33,547)	(28,522)	(33,547)
Tax losses carried forward	-	14,887	-	14,887
Other timing differences	3,211	3,341	3,211	3,341
	(25,311)	(15,319)	(25,311)	(15,319)

16.	Share capital
		2025	2024
		£	£

Allotted, called up and fully paid

2,683 (2024 - 2,281) Ordinary B shares of £1.00 each	2,683	2,281
300 (2024 - 300) Ordinary C shares of £1.00 each	300	300
74,510 (2024 - 74,510) Ordinary A shares of £1.00 each	74,510	74,510

	77,493	77,091

During the year the company issued 402 ordinary B shares at par.

Page 21

G.B. GEOTECHNICS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

17.	Pension commitments

The Group operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Group in an independently administered fund. The pension cost charge represents contributions payable by the Group to the fund and amounted to £201,470 (2024 - £214,615). Contributions totalling £13,794 (2024 - £14,730) were payable to the fund at the balance sheet date and are included in creditors.

18.	Commitments under operating leases
	At 31 March 2025 the Group and the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
		Group	Group	Company	Company
		2025	2024	2025	2024
		£	£	£	£

Not later than 1 year	7,662	68,918	7,662	68,918
Later than 1 year and not later than 5 years	-	52,803	-	52,803
	7,662	121,721	7,662	121,721

19.	Related party transactions
	Included in creditors are balances due to directors of £253,677 (2024 - £239,368). Certain directors have provided guarantees in respect of bank facilities.

Page 22