Company Registration No. 07580970 (England and Wales)
Geoshare Ltd
Unaudited accounts
for the period from 1 June 2018 to 31 August 2018
Geoshare Ltd
Unaudited accounts
Contents
Geoshare Ltd
Company Information
for the period from 1 June 2018 to 31 August 2018
Company Number
07580970 (England and Wales)
Registered Office
The Estate Office
Dacliffe Industrial Estate
Appledore Road, Woodchurch
Kent
TN26 3TG
Accountants
Southern Accounting Limited
The Estate Office, Dacliffe Ind. Estate
Appledore Road
Woodchurch
Kent
TN26 3TG
Geoshare Ltd
Statement of financial position
as at 31 August 2018
Tangible assets
37,654
40,187
Cash at bank and in hand
234,624
326,055
Creditors: amounts falling due within one year
(100,297)
(101,372)
Net current assets
144,258
224,683
Total assets less current liabilities
257,913
264,870
Provisions for liabilities
Deferred tax
(6,689)
(7,131)
Net assets
251,224
257,739
Called up share capital
10
10
Profit and loss account
251,214
257,729
Shareholders' funds
251,224
257,739
For the period ending 31 August 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 15 November 2019.
Mr A Bligh
Director
Company Registration No. 07580970
Geoshare Ltd
Notes to the Accounts
for the period from 1 June 2018 to 31 August 2018
Geoshare Ltd is a private company, limited by shares, registered in England and Wales, registration number 07580970. The registered office is The Estate Office, Dacliffe Industrial Estate, Appledore Road, Woodchurch, Kent, TN26 3TG.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous period, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Reducing Balance
Motor vehicles
25% Reducing Balance
Computer equipment
25% Reducing Balance
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Investments in unlisted company shares, which have been classified as fixed asset investments as the Company intends to hold them on a continuing basis, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.
Geoshare Ltd
Notes to the Accounts
for the period from 1 June 2018 to 31 August 2018
4
Intangible fixed assets
Goodwill
5
Tangible fixed assets
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 June 2018
10,090
31,802
12,852
54,744
At 31 August 2018
10,090
31,802
12,852
54,744
At 1 June 2018
1,972
6,628
5,957
14,557
Charge for the period
512
1,586
435
2,533
At 31 August 2018
2,484
8,214
6,392
17,090
At 31 August 2018
7,606
23,588
6,460
37,654
At 31 May 2018
8,118
25,174
6,895
40,187
6
Investments
Other investments
Valuation at 1 June 2018
-
Valuation at 31 August 2018
76,001
Other investments are shares in other unlisted companies which have been measure at fair value.
7
Debtors
31/08/2018
31/05/2018
Geoshare Ltd
Notes to the Accounts
for the period from 1 June 2018 to 31 August 2018
8
Creditors: amounts falling due within one year
31/08/2018
31/05/2018
Trade creditors
16,785
18,050
Taxes and social security
30,844
35,688
Other creditors
24,364
21,468
Loans from directors
24,606
21,015
9
Transactions with related parties
During the period, the Company made pension contributions of £4999.98 (May 2018: £60,000) to the director and members of the director's close family.
10
Average number of employees
During the period the average number of employees was 3 (31/05/2018: 1).
