Geo Management Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03883776 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2019

FOR

GEO MANAGEMENT LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr D J Mills

Mrs L M Mills

Mr G Mills

Miss M Mills

SECRETARY:

Mr D J Mills

REGISTERED OFFICE:

Ingram House

Meridian Way

Norwich

Norfolk

NR7 0TA

REGISTERED NUMBER:

03883776 (England and Wales)

ACCOUNTANTS:

LEES

Chartered Certified Accountants

Ingram House

Meridian Way

Norwich

Norfolk

NR7 0TA

FIXED ASSETS

Tangible assets

4

2,343

17,454

Investments

5

-

-

Investment property

6

8,405,000

8,965,000

8,407,343

8,982,454

CURRENT ASSETS

Debtors

7

37,970

54,187

Cash at bank

960,746

284,692

998,716

338,879

CREDITORS

Amounts falling due within one year

8

1,102,741

493,256

NET CURRENT LIABILITIES

(104,025

)

(154,377

)

TOTAL ASSETS LESS CURRENT LIABILITIES

8,303,318

8,828,077

CREDITORS

Amounts falling due after more than one year

9

(5,273,839

)

(5,609,540

)

PROVISIONS FOR LIABILITIES

(54,782

)

(52,791

)

NET ASSETS

2,974,697

3,165,746

CAPITAL AND RESERVES

Called up share capital

11

400

400

Non-distributable reserve

159,802

719,802

Retained earnings

2,814,495

2,445,544

SHAREHOLDERS' FUNDS

2,974,697

3,165,746

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors on 12 December 2019 and were signed on its behalf by:

Mr D J Mills - Director

Mrs L M Mills - Director

1.	STATUTORY INFORMATION

Geo Management Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The financial statements are presented in Sterling, which is the functional currency of the company and rounded

to the nearest £.

Going Concern

As at 31 March 2019, the company had net current liabilities of £104,025. The directors believe, after reviewing

the business activities of the company, together with the factors likely to affect its future development, its

financial position, its exposure to financial risk, and on the basis of funding available, that the company has

sufficient resources to continue in operation for the foreseeable future. Therefore, the directors believe it

appropriate to adopt the going concern basis in preparing financial statements.

Turnover

Turnover represents amounts receivable for rental, associated income and other services supplied during the

period, net of value added tax. Rents received in advance are initially deferred with revenue recognised in the

Statement of Comprehensive Income over the terms as detailed in the respective tenancy agreements. Turnover

relating to contract work is recognised as contract activity progresses and the right to consideration is earned.

Unbilled turnover on individual contracts is included as accrued income within debtors.

Tangible assets

Tangible assets are recorded at cost less accumulated depreciation. Depreciation is calculated so as to write off

the cost of fixed assets, less their estimated residual values, over the expected useful economic lives of the

assets concerned. The principal annual rates used for this purpose are as follows:

Plant and machinery etc - 25% on cost and over the lease term

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

Investment property

Investment property is initially recorded at cost which includes purchase cost and any directly attributable

expenditure.

Investment properties whose fair value can be measured reliably are measured at fair value. The gain or loss on

revaluation is recognised in the Statement of Comprehensive Income in the period in which it arises. Such gains

or losses are transferred from retained earnings to a non-distributable reserve.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws

that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal

of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies

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 of exchange ruling

at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2018 - 2 ) .

4.	TANGIBLE ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2018

242,381

Additions

1,803

At 31 March 2019

244,184

DEPRECIATION

At 1 April 2018

224,927

Charge for year

16,914

At 31 March 2019

241,841

NET BOOK VALUE

At 31 March 2019

2,343

At 31 March 2018

17,454

5.	INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2018

and 31 March 2019

400

PROVISIONS

At 1 April 2018

and 31 March 2019

400

NET BOOK VALUE

At 31 March 2019

-

At 31 March 2018

-

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2018

8,965,000

Revaluations

(560,000

)

At 31 March 2019

8,405,000

NET BOOK VALUE

At 31 March 2019

8,405,000

At 31 March 2018

8,965,000

The directors value the company's investment property portfolio annually at the balance sheet date. The

directors take an external property agent's view on the market, together with their own knowledge and

experience to assess the open market value of each property.

The historical cost of the company's investment properties was £8,219,631 (2018 - £8,219,631).

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

30,302

50,587

Other debtors

7,668

3,600

37,970

54,187

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Bank loans and overdrafts

422,899

233,333

Trade creditors

1,582

906

Taxation and social security

119,154

122,721

Other creditors

559,106

136,296

1,102,741

493,256

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Bank loans

-

422,899

Other creditors

5,273,839

5,186,641

5,273,839

5,609,540

10.	SECURED DEBTS

The following secured debts are included within creditors:

2019

2018

£

£

Bank loans

422,899

656,232

Other loans

700,000

-

1,122,899

656,232

Bank loans are secured by charges over certain assets of the company.

Other loans are secured by a charge over certain investment properties of the company.

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

304

Ordinary 'A'

£1

304

304

96

Ordinary 'B'

£1

96

96

400

400

12.	RELATED PARTY DISCLOSURES