Geodesic Resources Limited - Filleted accounts

Geodesic Resources Limited
Registered number:		10354887
Balance Sheet
as at 30 September 2018

Notes			2018			2017
£				£
Fixed assets
Tangible assets	2		1,131			-

Current assets
Debtors	3	13,882			-
Cash at bank and in hand		10,186			29,364
		24,068			29,364

Creditors: amounts falling due within one year	4	(18,444)			(23,972)

Net current assets			5,624			5,392

Net assets			6,755			5,392

Capital and reserves
Called up share capital			10			10
Profit and loss account			6,745			5,382

Shareholder's funds			6,755			5,392

The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.

These accounts were approved by the board on 31 October 2018 and signed by:




Mr Steven Kiely
Director

Geodesic Resources Limited
Notes to the Accounts
for the year ended 30 September 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.

	Turnover

	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	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. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.







2	Tangible fixed assets
				Plant and machinery etc
£
	Cost
	Additions			1,508
	At 30 September 2018			1,508

	Depreciation
	Charge for the year			377
	At 30 September 2018			377

	Net book value
	At 30 September 2018			1,131


3	Debtors	2018		2017
£			£

	Trade debtors	13,882		-


4	Creditors: amounts falling due within one year	2018		2017
£			£

	Corporation tax	12,398		17,991
	Other taxes and social security costs	5,491		5,777
	Other creditors	555		204
		18,444		23,972

5	Other information

	Geodesic Resources Limited is a private company limited by shares and incorporated in England. Its registered office is:
	SBC House
	Restmor Way
	Wallington
	Surrey
	SM6 7AH