Geomant UK Limited - Accounts to registrar (filleted) - small 23.1.2

Geomant UK Limited - Accounts to registrar (filleted) - small 23.1.2

GEOMANT UK LIMITED - Company Information

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REGISTERED NUMBER: 05323859 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

FOR

GEOMANT UK LIMITED

GEOMANT UK LIMITED (REGISTERED NUMBER: 05323859)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


GEOMANT UK LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2022







DIRECTORS: K F Ross
F A Vecsei





REGISTERED OFFICE: Turnpike Gate House
Alcester Heath
Alcester
Warwickshire
B49 5JG





REGISTERED NUMBER: 05323859 (England and Wales)





AUDITORS: Crowe U.K. LLP
Chartered Accountants and Statutory Auditors
Black Country House
Rounds Green Road
Oldbury
West Midlands
B69 2DG
Page 1
GEOMANT UK LIMITED (REGISTERED NUMBER: 05323859)

BALANCE SHEET
31 DECEMBER 2022

2022 2021
Notes £    £   
FIXED ASSETS
Tangible assets 4 2,423 4,021

CURRENT ASSETS
Debtors 5 1,386,551 1,386,182
Cash at bank and in hand 428,562 380,363
1,815,113 1,766,545
CREDITORS
Amounts falling due within one year 6 (1,243,088 ) (1,357,427 )
NET CURRENT ASSETS 572,025 409,118
TOTAL ASSETS LESS CURRENT
LIABILITIES
574,448
413,139

CREDITORS
Amounts falling due after more than
one year
7
(25,393
)
(34,853
)
NET ASSETS 549,055 378,286

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 548,055 377,286
SHAREHOLDERS' FUNDS 549,055 378,286

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 Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 April 2023 and were signed on its behalf by:





K F Ross - Director


The notes form part of these financial statements

Page 2
GEOMANT UK LIMITED (REGISTERED NUMBER: 05323859)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022


1. STATUTORY INFORMATION

Geomant UK 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.

Turnover
Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts.

Rendering of Services

Revenue from a contract to provide support services is recognised in the period in which the services are provided in accordance with the date of the contract when all of the following conditions are satisfied :
- the amount of revenue can be measured reliably;
- it is probable that the Company will receive the consideration due under the contract;
- the stage of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred to complete the contract can be measured reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 50% on cost

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.

Going concern
The company has cash resources and has no requirement for external funding. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. They continue to believe the going concern basis appropriate in preparing the annual financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2021 - 10 ) .

Page 3 continued...
GEOMANT UK LIMITED (REGISTERED NUMBER: 05323859)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022


4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 January 2022 13,768
Additions 1,528
At 31 December 2022 15,296
DEPRECIATION
At 1 January 2022 9,747
Charge for year 3,126
At 31 December 2022 12,873
NET BOOK VALUE
At 31 December 2022 2,423
At 31 December 2021 4,021

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 624,454 591,345
Amounts owed by group undertakings 76,051 89,535
Amounts owed by participating interests 326,613 358,897
Other debtors 359,433 346,405
1,386,551 1,386,182

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 9,451 9,637
Trade creditors 39,924 54,044
Amounts owed to group undertakings 17,879 81,164
Amounts owed to participating interests 179,675 165,109
Taxation and social security 72,920 120,777
Other creditors 923,239 926,696
1,243,088 1,357,427

Page 4 continued...
GEOMANT UK LIMITED (REGISTERED NUMBER: 05323859)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2022 2021
£    £   
Bank loans 25,390 34,850
Other creditors 3 3
25,393 34,853

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mark Evans (Senior Statutory Auditor)
for and on behalf of Crowe U.K. LLP

9. RELATED PARTY DISCLOSURES

In accordance with FRS 102 section 33 the company has taken advantage of the exemption available not to disclose details of transactions entered into between wholly owned subsidiaries.

During the year the company purchased goods and services from the following non-wholly owned related companies, Inova Solutions Inc. for value of £16,652 (2021: £13,502), the company sold services to Inova Solutions Inc. for value of £17,997 (2021: £1,724).

As at the balance sheet date the following amounts were outstanding from related parties; Geomant Global Limited £326,613 (2021: £323,674), Inova Solutions £79,641 (2021: £75,303). The following amounts were outstanding to related parties, Buzzeasy Limited £1,588 (2021: £81,075) and Agrocom £Nil (2021: £89).

10. ULTIMATE CONTROLLING PARTY

The company's immediate parent undertaking is Geomant Global, a company registered in Croatia The company considers its ultimate parent undertaking and controlling party to be Meritus ulaganja d. d., a company registered in Croatia, by virtue of it's 51% shareholding in its 100% parent company.

11. PENSION COMMITMENTS

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. Contributions totalling £2,523 (2021: £3,436) were payable to the fund at the balance sheet date and are included in creditors.

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