Geo - Drill Limited
- Active
- Small
- 19 years
- 40 employees
- £3,118,616 (cur assets)
- 1m-15m
- Regular importer
- Virtual address
- 2 directors
- 2 owners
- Family business
- Gateshead
Two conditions of three:
1.Turnover < £10.2 million
2.Balance sheet total < £5.1 million
3.Average number of employees < 50
Field of Operation
Website
Summary
Geo Drill Ltd, based in Gateshead, UK, is a small, family-run business with an active status. Founded eighteen years ago, it employs forty people and holds £3,118,616 in assets. The company operates from a virtual address, managed by two directors and two owners. It’s a regular importer of machinery, boilers, and mechanical appliances—parts, with nineteen months of import activity recorded.
The company's website, geodrillproject.eu, details a collaborative effort focused on geothermal drilling technology. It's a consortium of twelve European partners aiming to reduce drilling costs through innovative hammer systems, sensor technology, and advanced materials. The site highlights the project's objectives, impact, and recent news releases—including a final newsletter and presentations at industry events. Geo Drill’s services revolve around research and development, rather than direct sales, and the website positions it as a key player in advancing geothermal energy solutions.
Financially, Geo Drill Ltd shows a mixed picture. Current assets increased by 11%, reaching £3.1 million, while net assets increased by 5.6%, totaling £2.1 million. However, bank borrowings decreased by 4.7%, reaching £77,000, and cash reserves increased by 38%, reaching £1.3 million. Trade debtors decreased by 10%, suggesting improved collection efforts. The company’s small size (meeting two of three criteria for turnover under £10.2m, assets under £5.1m, and fewer than 50 employees) allows for flexibility, but the decrease in liabilities is something to keep an eye on. No auditor is mentioned, likely due to its status as a small company, meaning the figures are unaudited.
Overall, Geo Drill Ltd appears to be financially stable, driven by its involvement in a European research project. However, the virtual address and lack of direct sales activity raise questions about its long-term sustainability.
Registered in England/Wales under the registration number 05882090, with a registered address at NE11 0BU, Gateshead, Tyne And Wear, 6 Queens Court North, Third Avenue, Team Valley Trading Estate.
WARNING: The numbers have been rounded for simplicity and may be inaccurate.Please, refer to the latest financial report for verification.
Ports, countries, transport, and price/kg were calculated by CorpSignals; non-official data, may contain errors.
Owners & PSC
-
Individual
- 9 years
- 3
- 50%+
-
Resident of United Kingdom
-
Individual
- 9 years
- 25%+
-
Resident of United Kingdom
Managers
-
Individual
- 19 years
- 2
-
Resident of United Kingdom
-
Individual
- 19 years
- 3
-
Resident of United Kingdom
Last reports
The latest confirmation statement submitted eight months ago.
Last news
-
Confirmation statement made on 2025-07-20 with no updatesDownload 3 pages pdf report
-
Total exemption full accounts made up to 2024-07-31Download 11 pages pdf report
-
Confirmation statement made on 2024-07-20 with no updatesDownload 3 pages pdf report
Importer profile by HS codes
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Import HS codes in detail
Last imported products
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* Warning: Ports, countries, transport, and price/kg were calculated by CorpSignals; non-official data, may contain errors.
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