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Registered number:
FOR THE YEAR ENDED 31 DECEMBER 2025
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GEOS GROUP LIMITED
COMPANY INFORMATION
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GEOS GROUP LIMITED
CONTENTS
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GEOS GROUP LIMITED
GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
The Group is a leading UK independent energy logistics and fuel distribution business, operating across both marine and inland fuel markets. Through its integrated capabilities in sourcing, storage, transport, and delivery, the Group provides a comprehensive range of fuel solutions to commercial, industrial, marine, and domestic customers.
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GEOS GROUP LIMITED
GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
Marine Operations (SBL)
SBL is one of the UK’s largest independent marine fuel suppliers, specialising in the marketing, sale, and distribution of marine fuel products. The business sources fuel from dedicated storage locations, established supply partners, and reputable refineries, providing a secure and flexible supply chain with strong competitive advantages.
To ensure reliability and service continuity, SBL directly manages fuel transportation from UK refineries and maintains end-to-end control of its logistics operations. The business operates its own fleet of dedicated vessels and road tankers, enabling it to deliver both direct bunkering services and third-party shipping solutions. This integrated model supports high service levels, operational flexibility, and strong utilisation of assets.
Inland Fuel Operations (WTL)
WTL delivers a comprehensive range of fuelling solutions to commercial and domestic markets, including direct fuelling and bulk delivery services. The business supplies DERV (white diesel), gas oil (red diesel), and kerosene (heating oil), with continued expansion into alternative fuel offerings such as HVO (Hydrotreated Vegetable Oil) and marine gas oil.
Progress has been supported by the ongoing investment in a modernised vehicle fleet, which has improved delivery efficiency, operational resilience, and customer service levels. Continued growth in kerosene supply and the development of alternative fuels has strengthened WTL’s position within both traditional and emerging energy markets.
Market Conditions and Performance
During 2025, fuel markets experienced continued volatility, with oil and refined product prices generally easing compared with prior periods due to global supply dynamics and periods of oversupply. At the same time, geopolitical developments and regional instability contributed to short-term fluctuations in pricing and demand.
Lower average fuel prices during the year supported volume growth across both marine and inland operations; however, they also placed pressure on revenue values and contributed to a reduction in reported turnover compared with prior periods, despite underlying operational strength.
Financial Review
Turnover for 2025 was £269.8m (2024 £309.6m ), a reduction due to a fall in oil prices and tonnage. Operating profit before interest and tax for 2025 was £3.0m (2024 £1.9m). While overall volume reduced, profitablilty per unit sold increased over the same period.
Interest costs have significantly reduced to £0.99m in 2025 (2024 £1.4m), due to lower interest rates, strong credit control and cash management.
The Group continues to operate in a competitive and price-sensitive environment, with ongoing margin pressure across certain fuel segments. Demand for more efficient logistics solutions, alternative fuels, and integrated supply services continues to increase.
Group Position and Outlook
The Group maintains a strong and resilient operating model, underpinned by long-term customer relationships, contracted activity, and integrated supply chain control from sourcing through to delivery. This structure provides both marine and inland operations with enhanced reliability, flexibility, and efficiency.
Across both divisions, the Group continues to focus on disciplined growth, margin stabilisation, and operational efficiency. Investment in fleet capability, infrastructure, and alternative fuel solutions supports continued expansion into adjacent markets and strengthens long-term competitiveness.
Despite ongoing volatility in fuel pricing and broader market conditions, the Group is well positioned to strengthen
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GEOS GROUP LIMITED
GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
its regional presence, enhance customer relationships, and progress towards sustainable profitability and improved cash generation.
On 16 May 2026 a group reorganisation was completed. Following this, Geos Group Limited is now owned by Wilton Transport Holdings Limited and the ultimate controlling party remains Barry J Newton by virtue of his controlling shareholding. As part of the same reorganisation, Sea Bunkering Holdings Limited and Sea Bunkering Limited are no longer subsidiaries of Geos Group Limited, albeit they remain under common control.
Geos group measures success through key performance indicators (KPIs), including:
∙Volume Growth and Operating Profit – Indicators of market expansion and profitability.
°While overall volume reduced this year, profitablilty per unit sold increased over the same period
∙Effective Risk Management – Addressing oil price volatility, logistics costs, and currency fluctuations.
°Newly introduced hedging strategies have successfully mitigated oil price volatility and managed backwardation in the futures market.
°Internal efficiencies have reduced shipping costs per metric ton, despite global cost pressures.
°Replacing the oldest lorries in the fleet expect to reduce the operational costs over the medium term.
The primary risk to the business is marine distillate price volatility, managed through physical trades and derivatives. Logistical costs associated with fuel transportation also impact profitability.
Geos Group employs various financial instruments, including trade finance, fuel price hedging, cash management, and foreign exchange hedging, to raise finance and mitigate financial risks.
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GEOS GROUP LIMITED
GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
Geos Group faces several financial risks, including:
∙Market Risk: Exposure to oil price fluctuations managed through fuel price hedge contracts.
∙Currency Risk: Foreign exchange risk mitigated through forward exchange contracts, with all sales and costs invoiced in sterling.
∙Liquidity Risk: Ensuring sufficient liquidity for operations while investing cash assets safely and profitably.
∙Interest Rate Risk: Operations financed through trade loan facilities, term loans, and retained earnings. Trade debtors and creditors do not attract interest but are subject to fair value interest rate risk.
∙Credit Risk: Managed through financial stability assessments, customer credit limits based on payment history and references, regular credit limit reviews, and provisions for at-risk debtor balances.
The Director closely monitors counterparties' performance and acts if there is a significant risk of contractual non-performance.
Director’s Statement of Compliance with Duty to Promote the Success of the Company
In accordance with Section 172 of the UK Companies Act 2006, the Directors of Geos Group Ltd are committed to acting in a manner that promotes the long-term success of the company for the benefit of its stakeholders. The Board adheres to the following key principles:
∙Risk Management: Operating in a highly regulated industry, Geos Group adopts a proactive approach to identifying, assessing, and mitigating risks. The company continuously enhances its risk management framework to safeguard operational resilience and financial stability.
∙Our People: Geos Group is committed to fostering a high-performance work environment by investing in talent, upholding strong ethical standards, and promoting a culture of integrity, collaboration, and professional development.
∙Business Relationships: The company prioritizes sustainable growth by maintaining long-term, mutually beneficial relationships with customers and suppliers. These partnerships are integral to ensuring supply reliability, operational efficiency, and service excellence.
∙Community and Environment: Geos Group actively contributes to the communities in which it operates and is committed to minimizing its environmental impact. The company leverages its industry expertise to support local initiatives and explore sustainable practices within its operations.
By adhering to these principles, Geos Group remains focused on sustainable growth, operational excellence, and delivering long-term value to its stakeholders.
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GEOS GROUP LIMITED
GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
This report was approved by the board and signed on its behalf.
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GEOS GROUP LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
The directors present their report and the financial statements for the year ended 31 December 2025.
The directors are responsible for preparing the Group Strategic Report, the Directors' Report and the consolidated financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Group's financial statements and then apply them consistently;
∙make judgments and accounting estimates that are reasonable and prudent;
∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and the Group and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The profit for the year, after taxation, amounted to £1,308,153 (2024 - £478,855).
Interim dividends of £367,003 (2024: £383,337) were paid.
The directors who served during the year were:
The Group has not disclosed information in respect of greenhouse gas emissions, energy consumption and energy efficiency action as its energy consumption in the United Kingdom for the year is 40,000kWh or lower.
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GEOS GROUP LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
On 16 May 2026 a group reorganisation was completed. Following this, Geos Group Limited is now owned by Wilton Transport Holdings Limited and the ultimate controlling party remains Barry J Newton by virtue of his controlling shareholding. As part of the same reorganisation, Sea Bunkering Holdings Limited and Sea Bunkering Limited are no longer subsidiaries of Geos Group Limited, albeit they remain under common control.
The auditors, James Cowper Kreston Audit, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board and signed on its behalf.
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GEOS GROUP LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF GEOS GROUP LIMITED
We have audited the financial statements of GEOS Group Limited (the 'Parent Company') and its subsidiaries (the 'Group') for the year ended 31 December 2025, which comprise the Consolidated Statement of Comprehensive Income, the Consolidated Balance Sheet, the Company Balance Sheet, the Consolidated Statement of Cash Flows, the Consolidated Statement of Changes in Equity, the Company Statement of Changes in Equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group's or the Parent Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
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GEOS GROUP LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF GEOS GROUP LIMITED (CONTINUED)
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Group Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Group Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Group and the Parent Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Directors' Report.
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GEOS GROUP LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF GEOS GROUP LIMITED (CONTINUED)
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these Group financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from events and transactions reflected in the financial statements, as we will be less likely to become aware of instance of non-compliance.
The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
The specific procedures for this engagement that we design and performed to detect material misstatements in respect of irregularities, including fraud, were as follows:
∙Enquiry of management, those charged with governance around actual and potential litigation and claims;
∙Enquiry with management and those charged with governance to identify any material instances of non-complaince with laws and regulations;
∙Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;
∙Performing audit work to address the risk of irregularities due to management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.
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GEOS GROUP LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF GEOS GROUP LIMITED (CONTINUED)
This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Chartered Accountants and Statutory Auditor
Apex
Forbury Road
Berkshire
RG1 8LS
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GEOS GROUP LIMITED
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2025
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GEOS GROUP LIMITED
REGISTERED NUMBER: 05281091
CONSOLIDATED BALANCE SHEET
AS AT 31 DECEMBER 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 21 to 41 form part of these financial statements.
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GEOS GROUP LIMITED
REGISTERED NUMBER: 05281091
CONSOLIDATED BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2025
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GEOS GROUP LIMITED
REGISTERED NUMBER: 05281091
COMPANY BALANCE SHEET
AS AT 31 DECEMBER 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 21 to 41 form part of these financial statements.
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GEOS GROUP LIMITED
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2025
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GEOS GROUP LIMITED
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
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GEOS GROUP LIMITED
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2025
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GEOS GROUP LIMITED
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
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GEOS GROUP LIMITED
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2025
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GEOS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
GEOS Group Limited is a private company limited by shares incorporate in the United Kingdom. Its registered office and principal place of business is Chiltern House, 45 Station Road, Henley-on-Thames, Oxfordshire, RG9 1AT.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
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 (see note 3).
The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of Comprehensive Income in these financial statements.
The following principal accounting policies have been applied:
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 Statement of Comprehensive Income from the date on which control is obtained. They are deconsolidated from the date control ceases.
The financial position of the group, its liquidity position and principal risks and uncertainties are described in the Strategic report.
The group has remained committed to growth, developing new business opportunities, strengthening its balance sheet and above all, focusing on providing value to its customers beyond best price. This value includes leveraging off the company’s market knowledge and its unique expertise, which enables the group to limit customers’ exposure to price volatility, supply issues and quality. As a result, the directors believe that the group has adequate resources to continue operations for the foreseeable future being a period of not less that twelve months from the date of signing the financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
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GEOS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
Functional and presentation currency
Transactions and balances
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GEOS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
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GEOS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
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 Statement of Comprehensive Income over its useful economic life, estimated to be 20 years.
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:
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.
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GEOS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimates and compared with its carrying amount. If estimated recoverable amount is lower, carrying amount is reduced to its estimates recoverable amount, and an impairment loss is recognised immediately in profit or loss.
If an impairment loss subsequently reverses, the carry amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in the prior years. A reversal of an impairment loss is recognised immediately in the statement of comprehensive income.
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GEOS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
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.
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.
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.
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.
Basic 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.
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GEOS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
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.
Other financial instruments
Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.
Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.
Derecognition of financial instruments
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.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.
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GEOS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Estimates and underlying assumptions are reviewed on an ongoing basis. Estimates are based on historical experience and other assumptions that are considered reasonable in the circumstances. The actual amount or values may vary in certain instances from the assumptions and estimates made. Changes will be recorded, with corresponding effect in the Statement of Comprehensive Income, when, and if, better information is obtained. Information about assumptions and estimation uncertainties that have a significant risk of resulting in material adjustment within the next financial year are included below. Critical judgements that management has made in the process of applying accounting policies disclosed herein and that have a significant effect on the amounts recognised in the financial statements relates to the following: Provisions In recognising provisions, the company evaluates the extent to which it is probable that it has incurred a legal or constructive obligation in respect of past events and the probability that there will be an outflow of benefits as a result. The judgements used to recognise provisions are based on currently known factors which may vary over time, resulting in changes in the measurement of recorded amounts as compared to initial estimates. Stocks Management applies judgement at each balance sheet date position to estimate the net realisable values of stock, taking into account the most reliable evidence at each reporting date. Fixed assets Management reviews its estimate of the useful lives of depreciable assets at each reporting date, based on the expected utility of the assets. Uncertainties in these estimates relate to obsolescence and "wear and tear" that may change the utility of certain plant and machinery. Where there are indicators of impairment of individual assets, management perform impairment tests based on the fair value less costs to sell at a value in use calculation. The value in use calculation is based on a discounted cash flow model, cash flows being based on budgets and estimated discount rates. In undertaking this impairment assessment, the director has taken into consideration the benefits that the Blyth terminal brings to the performance of the company's other terminals.
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GEOS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Analysis of turnover by country of destination:
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GEOS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 30
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GEOS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 31
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GEOS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
10.Taxation (continued)
There are no factors that may effect the future tax charge.
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GEOS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 33
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GEOS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 34
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GEOS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 35
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GEOS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 36
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GEOS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 37
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GEOS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 38
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GEOS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Profit and loss account
As at 31 December 2024 and at 31 December 2023 there were no contingent liabilities.
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GEOS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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 £196,115 (2024: £107,356). Contributions totalling £nil (2024: £nil) were payable to the fund at the balance sheet date and are included in creditors.
The company has taken advantage of the exemption allowed under section 408 Companies Act 2006 and has not presented its own Statement of Comprehensive Income in these financial statements. The profit after tax of the parent company for the year was £6,034,162 (2024: £357,717).
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GEOS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
31.Other financial commitments
Guarantees
Geos Group Limited and Sea Bunkering Holdings Limited have a composite company limited multilateral guarantee provided to HSBC UK Bank plc in respect of the financing facility in Sea Bunkering Limited.
On 16 May 2026 a group reorganisation was completed. Following this, Geos Group Limited is now owned by Wilton Transport Holdings Limited and the ultimate controlling party remains Barry J Newton by virtue of his controlling shareholding. As part of the same reorganisation, Sea Bunkering Holdings Limited and Sea Bunkering Limited are no longer subsidiaries of Geos Group Limited, albeit they remain under common control.
The ultimate controlling party is
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