Caseware UK (AP4) 2021.0.152 2021.0.152 2021-12-312021-12-312021-01-0134falseNo description of principal activity36truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 08496396 2021-01-01 2021-12-31 08496396 2021-12-31 08496396 2020-01-01 2020-12-31 08496396 2020-12-31 08496396 2020-01-01 08496396 c:Director4 2021-01-01 2021-12-31 08496396 d:PlantMachinery 2021-01-01 2021-12-31 08496396 d:PlantMachinery 2021-12-31 08496396 d:PlantMachinery 2020-12-31 08496396 d:PlantMachinery d:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 08496396 d:MotorVehicles 2021-01-01 2021-12-31 08496396 d:MotorVehicles 2021-12-31 08496396 d:MotorVehicles 2020-12-31 08496396 d:MotorVehicles d:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 08496396 d:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 08496396 d:Goodwill 2021-12-31 08496396 d:Goodwill 2020-12-31 08496396 d:CurrentFinancialInstruments 2021-12-31 08496396 d:CurrentFinancialInstruments 2020-12-31 08496396 d:Non-currentFinancialInstruments 2021-12-31 08496396 d:Non-currentFinancialInstruments 2020-12-31 08496396 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 08496396 d:CurrentFinancialInstruments d:WithinOneYear 2020-12-31 08496396 d:Non-currentFinancialInstruments d:AfterOneYear 2021-12-31 08496396 d:Non-currentFinancialInstruments d:AfterOneYear 2020-12-31 08496396 d:ShareCapital 2021-12-31 08496396 d:ShareCapital 2020-12-31 08496396 d:RetainedEarningsAccumulatedLosses 2021-12-31 08496396 d:RetainedEarningsAccumulatedLosses 2020-12-31 08496396 c:OrdinaryShareClass1 2021-01-01 2021-12-31 08496396 c:OrdinaryShareClass1 2021-12-31 08496396 c:OrdinaryShareClass1 2020-12-31 08496396 c:FRS102 2021-01-01 2021-12-31 08496396 c:AuditExempt-NoAccountantsReport 2021-01-01 2021-12-31 08496396 c:FullAccounts 2021-01-01 2021-12-31 08496396 c:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31 08496396 d:WithinOneYear 2021-12-31 08496396 d:WithinOneYear 2020-12-31 08496396 d:BetweenOneFiveYears 2021-12-31 08496396 d:BetweenOneFiveYears 2020-12-31 08496396 d:AcceleratedTaxDepreciationDeferredTax 2021-12-31 08496396 d:AcceleratedTaxDepreciationDeferredTax 2020-12-31 xbrli:shares iso4217:GBP xbrli:pure

Company Registration Number 08496396























GROUNDS MAINTENANCE SPECIALISTS LIMITED





UNAUDITED
FINANCIAL STATEMENTS





 31 DECEMBER 2021























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GROUNDS MAINTENANCE SPECIALISTS LIMITED
REGISTERED NUMBER: 08496396

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2021

2021
2020
Note
£
£

Fixed assets
  

Tangible assets
 5 
822,857
742,678

  
822,857
742,678

Current assets
  

Stocks
 6 
55,134
45,415

Debtors: amounts falling due within one year
 7 
610,480
182,597

Cash at bank and in hand
  
135,926
282,928

  
801,540
510,940

Creditors: amounts falling due within one year
 8 
(433,651)
(301,732)

Net current assets
  
 
 
367,889
 
 
209,208

Total assets less current liabilities
  
1,190,746
951,886

Creditors: amounts falling due after more than one year
 9 
(215,472)
(207,586)

Provisions for liabilities
  

Deferred tax
 10 
(203,958)
(133,357)

  
 
 
(203,958)
 
 
(133,357)

Net assets
  
771,316
610,943

Page 1

 
GROUNDS MAINTENANCE SPECIALISTS LIMITED
REGISTERED NUMBER: 08496396

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2021

2021
2020
Note
£
£

Capital and reserves
  

Called up share capital 
 11 
100
100

Profit and loss account
  
771,216
610,843

  
771,316
610,943


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
Mr M D Wright
Director

Date: 7 September 2022

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
GROUNDS MAINTENANCE SPECIALISTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

1.


General information

Grounds Maintenance Specialists Limited is a company limited by shares incorporated in England within the United Kingdom. The address of the registered office is Unit 1 J, Admiral Business Park, Nelson Way, Cramlington, Northumberland, NE23 1WG. 
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue recognition

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 
GROUNDS MAINTENANCE SPECIALISTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
15% reducing balance
Motor vehicles
-
20% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

Page 4

 
GROUNDS MAINTENANCE SPECIALISTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

 
2.10

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.11

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.12

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.13

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.14

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.15

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of financial position.

Page 5

 
GROUNDS MAINTENANCE SPECIALISTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

 
2.16

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


3.


Employees

The average monthly number of employees, including directors, during the year was 36 (2020 - 34).

Page 6

 
GROUNDS MAINTENANCE SPECIALISTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

4.


Intangible assets




Goodwill

£



Cost


At 1 January 2021
10,500



At 31 December 2021

10,500



Amortisation


At 1 January 2021
10,500



At 31 December 2021

10,500



Net book value



At 31 December 2021
-



At 31 December 2020
-




5.


Tangible fixed assets





Plant and machinery
Motor vehicles
Total

£
£
£



Cost or valuation


At 1 January 2021
934,643
280,924
1,215,567


Additions
109,206
151,972
261,178


Disposals
(121,452)
(4,335)
(125,787)



At 31 December 2021

922,397
428,561
1,350,958



Depreciation


At 1 January 2021
346,643
126,246
472,889


Charge for the year on owned assets
88,933
34,897
123,830


Disposals
(65,419)
(3,199)
(68,618)



At 31 December 2021

370,157
157,944
528,101



Net book value



At 31 December 2021
552,240
270,617
822,857



At 31 December 2020
588,000
154,678
742,678

Page 7

 
GROUNDS MAINTENANCE SPECIALISTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

6.


Stocks

2021
2020
£
£

Raw materials and consumables
55,134
45,415

55,134
45,415



7.


Debtors

2021
2020
£
£


Trade debtors
238,976
146,362

Amounts owed by group undertakings
336,767
-

Other debtors
11,314
16,605

Prepayments and accrued income
23,423
19,630

610,480
182,597



8.


Creditors: Amounts falling due within one year

2021
2020
£
£

Bank loans
9,451
-

Trade creditors
57,923
51,955

Corporation tax
18,429
32,993

Other taxation and social security
62,259
53,852

Obligations under finance lease and hire purchase contracts
157,499
146,028

Other creditors
112,998
4,098

Accruals and deferred income
15,092
12,806

433,651
301,732


Included in creditors are liabilities totalling £157,499 (2020 - £146,028) which are secured. Finance lease and hire purchase contracts are secured on the assets concerned.

Page 8

 
GROUNDS MAINTENANCE SPECIALISTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

9.


Creditors: Amounts falling due after more than one year

2021
2020
£
£

Bank loans
35,036
50,000

Net obligations under finance leases and hire purchase contracts
180,436
157,586

215,472
207,586


Included in creditors are liabilities totalling £180,436 (2020 - £157,586) which are secured. Finance lease and hire purchase contracts are secured on the assets concerned.


10.


Deferred taxation




2021
2020


£

£






At beginning of year
(133,357)
(95,284)


Charged to profit or loss
(70,601)
(38,073)



At end of year
(203,958)
(133,357)

The provision for deferred taxation is made up as follows:

2021
2020
£
£


Accelerated capital allowances
(203,958)
(133,357)

(203,958)
(133,357)


11.


Share capital

2021
2020
£
£
Allotted, called up and fully paid



100 (2020 - 100) Ordinary shares of £1.00 each
100
100



12.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date, unpaid contributions of £6,092 (2020 - £3,545) were due to the fund. They are included in other creditors.

Page 9

 
GROUNDS MAINTENANCE SPECIALISTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

13.


Commitments under operating leases

At 31 December 2021 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2021
2020
£
£


Not later than 1 year
30,600
30,600

Later than 1 year and not later than 5 years
38,250
61,200

68,850
91,800


14.


Transactions with directors

At 1 January 2021, a director owed the company £16,393. During the year, the director had advances of £12,280 and repayments of £18,000. Interest of £429 has been charged in the year. The director resigned in the year.


15.


Related party transactions

The company has taken advantage of the small group exemptions not to disclose transactions with the parent entity, of which the company is a 100% subsidiary, or fellow subsidiaries.


Page 10