| Geodan Ltd |
| Notes to the Accounts |
| for the year ended 31 March 2018 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Office equipment |
25% reducing balance |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. No provision for deferred tax has been made since the directors are of the opinion that no liability will crystallise in the foreseeable future. |
|
|
| 2 |
Employees |
2018 |
|
2017 |
| Number |
Number |
|
|
Average number of persons employed by the company |
1 |
|
1 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Office equipment |
| £ |
|
Cost |
|
At 1 April 2017 |
11,122 |
|
At 31 March 2018 |
11,122 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 April 2017 |
6,765 |
|
Charge for the year |
1,089 |
|
At 31 March 2018 |
7,854 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2018 |
3,268 |
|
At 31 March 2017 |
4,357 |
|
|
| 4 |
Debtors |
2018 |
|
2017 |
| £ |
£ |
|
|
Trade debtors |
44,640 |
|
35,438 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due within one year |
2018 |
|
2017 |
| £ |
£ |
|
|
Taxation and social security costs |
26,281 |
|
32,383 |
|
Other creditors |
3,142 |
|
5,621 |
|
|
|
|
|
|
29,423 |
|
38,004 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Other information |
|
|
Geodan Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
|
Plummers Barn |
|
Halden Lane |
|
Benenden |
|
TN17 4BJ |
