Registered Number 02782574

GEODYSSEY LIMITED

Abbreviated Accounts

31 May 2014

GEODYSSEY LIMITED Registered Number 02782574

Abbreviated Balance Sheet as at 31 May 2014

Notes 2014 2013
£ £
Called up share capital not paid - -
Fixed assets
Intangible assets - -
Tangible assets - -
Investments - -
- -
Current assets
Stocks - -
Debtors 62,655 77,831
Investments - -
Cash at bank and in hand 237,039 200,635
299,694 278,466
Prepayments and accrued income - -
Creditors: amounts falling due within one year (249,682) (229,466)
Net current assets (liabilities) 50,012 49,000
Total assets less current liabilities 50,012 49,000
Creditors: amounts falling due after more than one year 0 0
Provisions for liabilities 0 0
Accruals and deferred income 0 0
Total net assets (liabilities) 50,012 49,000
Capital and reserves
Called up share capital 2 30,000 30,000
Share premium account 0 0
Revaluation reserve 0 0
Other reserves 0 0
Profit and loss account 20,012 19,000
Shareholders' funds 50,012 49,000
  • For the year ending 31 May 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 11 September 2014

And signed on their behalf by:
G E Howe, Director

GEODYSSEY LIMITED Registered Number 02782574

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

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover comprises revenue recognised by the company in respect of holidays supplied during the year exclusive of Value Added Tax. Turnover is recognised at the date of departure of the trip to which it relates.

Other accounting policies
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 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 discounted.

Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange gains and losses are recognised in the Profit and loss account.

Financial instruments
Financial instruments are classified and accounted for according to the substance of the contractual arrangement as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

2Called Up Share Capital
Allotted, called up and fully paid:
2014
£		 2013
£
30,000 Ordinary shares of £1 each 30,000 30,000