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 2021

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

Mr S 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

8,277

5,403

Investments

5

-

-

Investment property

6

5,745,000

7,640,000

5,753,277

7,645,403

CURRENT ASSETS

Debtors

7

249,080

110,867

Cash at bank

194,789

156,943

443,869

267,810

CREDITORS

Amounts falling due within one year

8

356,616

294,562

NET CURRENT ASSETS/(LIABILITIES)

87,253

(26,752

)

TOTAL ASSETS LESS CURRENT LIABILITIES

5,840,530

7,618,651

CREDITORS

Amounts falling due after more than one year

9

(5,002,827

)

(5,200,443

)

PROVISIONS FOR LIABILITIES

(66,000

)

(60,058

)

NET ASSETS

771,703

2,358,150

CAPITAL AND RESERVES

Called up share capital

11

400

400

Retained earnings

771,303

2,357,750

SHAREHOLDERS' FUNDS

771,703

2,358,150

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 December 2021 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 £.

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 income statement 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

Government grants

Government grants are recognised when there is reasonable assurance that the grant conditions will be met and the grant will be received. These grants are recognised within other operating income on a systematic basis over the periods in which the related costs towards which they are intended to compensate are recognised as expenses.

Coronavirus Job Retention Scheme (CJRS)

Grants received in relation to the Coronavirus Job Retention Scheme are accounted for on the accruals basis once the related payroll return has been submitted.

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 income statement 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

The average number of employees during the year was 4 (2020 - 4 ) .

4.	TANGIBLE ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2020

234,375

Additions

5,913

Disposals

(999

)

At 31 March 2021

239,289

DEPRECIATION

At 1 April 2020

228,972

Charge for year

2,144

Eliminated on disposal

(104

)

At 31 March 2021

231,012

NET BOOK VALUE

At 31 March 2021

8,277

At 31 March 2020

5,403

5.	INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2020

and 31 March 2021

400

PROVISIONS

At 1 April 2020

and 31 March 2021

400

NET BOOK VALUE

At 31 March 2021

-

At 31 March 2020

-

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2020

7,640,000

Revaluations

(1,895,000

)

At 31 March 2021

5,745,000

NET BOOK VALUE

At 31 March 2021

5,745,000

At 31 March 2020

7,640,000

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 (2020 - £8,219,631).

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

242,845

104,348

Other debtors

6,235

6,519

249,080

110,867

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade creditors

-

18

Taxation and social security

137,599

106,268

Other creditors

219,017

188,276

356,616

294,562

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Other creditors

5,002,827

5,200,443

10.	SECURED DEBTS

The following secured debts are included within creditors:

2021

2020

£

£

Other loans

210,000

280,000

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

2021

2020

value:

£

£

304

Ordinary 'A'

£1

304

304

96

Ordinary 'B'

£1

96

96

400

400

12.	RELATED PARTY DISCLOSURES