WHAT IS AN UNGEARED COMPANY?
A Company which has an ungeared balance sheet is called as an "Ungeared Company".
What does ungeared balance sheet mean?
Before we get to know about what ungeared balance sheet means, one must first be aware of the term "Gearing" or "Gearing ratio".
In case, the company does not have any debt, then the gearing ratio becomes zero and as the balance sheet will not contain any debt figure in such cases, hence the balance sheet for any such fiscal years will be referred to as "ungeared balance sheet".