Abbreviated Company Accounts - GEOPROJECTS (UK) LIMITED

GEOPROJECTS (UK) LIMITED Registered Number 01615144

Abbreviated Balance Sheet as at 31 December 2014

	Notes	2014	2013
		£	£
Current assets
Debtors		-	845
Cash at bank and in hand		1,280	6,749
		1,280	7,594
Creditors: amounts falling due within one year		-	(9,742)
Net current assets (liabilities)		1,280	(2,148)
Total assets less current liabilities		1,280	(2,148)
Creditors: amounts falling due after more than one year		(2,714,846)	(2,711,418)
Total net assets (liabilities)		(2,713,566)	(2,713,566)
Capital and reserves
Called up share capital	2	100	100
Profit and loss account		(2,713,666)	(2,713,666)
Shareholders' funds		(2,713,566)	(2,713,566)

For the year ending 31 December 2014 the company was entitled to exemption 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 22 September 2015

And signed on their behalf by:
Mr K Khayat, Director

GEOPROJECTS (UK) LIMITED Registered Number 01615144

Notes to the Abbreviated Accounts for the period ended 31 December 2014

1Accounting Policies

Basis of measurement and preparation of accounts
The full financial statements, from which these abbreviated accounts have been extracted, have
been prepared under the historical cost convention and in accordance with the Financial Reporting
Standard for Smaller Entities (effective April 2008).

Going concern

As at 31 December 2014 the company had net liabilities of £2,713,566 and was fully reliant on the
support of its ultimate parent company, International Investments S.A.L, for ongoing support.

The directors see no reason why the parent company will not continue to provide this support for the
foreseeable future and for this reason the accounts have been prepared on a going concern basis.

Turnover policy
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.

Other accounting policies
Operating leases

Rentals under operating leases are charged to the Profit and loss account on a straight line basis
over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a
straight line basis over the period until the date the rent is expected to be adjusted to the prevailing
market rate.

Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for
obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of
fixed and variable overheads.

Deferred taxation

Full provision is made for deferred tax assets and liabilities arising from all timing differences
between the recognition of gains and losses in the financial statements and recognition in the tax
computation.

A net deferred tax asset is recognised only if it can be regarded as more likely than not that there will
be suitable taxable profits from which the future reversal of the underlying timing differences can be
deducted.

Deferred tax assets and liabilities are calculated at the tax rates expected to be effective at the time
the timing differences are expected to reverse.

Deferred tax assets and liabilities are not discounted.

2Called Up Share Capital
Allotted, called up and fully paid:

	2014 £	2013 £
100 Ordinary shares of £1 each	100	100