Company Registration No. 07567478 (England and Wales)
GROUND AND ENVIRONMENTAL SERVICES LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
GROUND AND ENVIRONMENTAL SERVICES LIMITED
COMPANY INFORMATION
Directors
Mr K Mexter
Mr C Spanton
Mr K Bearman
Mr P Di Pasquale
Mr P Johnson
(Appointed 28 February 2023)
Company number
07567478
Registered office
Unit 2
Montpelier Business Park , Dencora Way
Ashford
Kent
TN23 4FG
Accountants
Accounts Unlocked Limited
Office 43
The Cobalt Building
1600 Eureka Park
Lower Pemberton
Ashford, Kent
TN25 4BF
GROUND AND ENVIRONMENTAL SERVICES LIMITED
CONTENTS
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 5
GROUND AND ENVIRONMENTAL SERVICES LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 MARCH 2023
31 March 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
35,912
52,076
Current assets
Debtors
182,207
89,502
Cash at bank and in hand
121,348
223,358
303,555
312,860
Creditors: amounts falling due within one year
(144,121)
(173,270)
Net current assets
159,434
139,590
Total assets less current liabilities
195,346
191,666
Capital and reserves
Called up share capital
200
200
Profit and loss reserves
195,146
191,466
Total equity
195,346
191,666
In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).
The directors of the company have elected not to include a copy of the income statement within the financial statements.true
For the financial year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
GROUND AND ENVIRONMENTAL SERVICES LIMITED
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT
31 MARCH 2023
31 March 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 29 September 2023 and are signed on its behalf by:
Mr K Mexter
Mr C Spanton
Director
Director
Mr P Johnson
Director
Company Registration No. 07567478
GROUND AND ENVIRONMENTAL SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 3 -
1
Accounting policies
Company information
Ground and Environmental Services Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 2, Montpelier Business Park , Dencora Way, Ashford, Kent, TN23 4FG.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Leasehold improvements
20- straight line
Plant & machinery
33- and 50- reducing balance
Fixtures & fittings
30- and 50- reducing balance
Motor vehicles
33- and 50- reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Impairment of fixed assets
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
GROUND AND ENVIRONMENTAL SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 4 -
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.6
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the statement of financial position as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
13
9
GROUND AND ENVIRONMENTAL SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 5 -
4
Tangible fixed assets
Leasehold improvements
Plant & machinery
Fixtures & fittings
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 April 2022
11,650
118,370
25,160
101,254
256,434
Additions
1,706
1,706
At 31 March 2023
11,650
120,076
25,160
101,254
258,140
Depreciation and impairment
At 1 April 2022
7,767
102,360
23,052
71,178
204,357
Depreciation charged in the year
1,942
5,372
632
9,925
17,871
At 31 March 2023
9,709
107,732
23,684
81,103
222,228
Carrying amount
At 31 March 2023
1,941
12,344
1,476
20,151
35,912
At 31 March 2022
3,883
16,010
2,107
30,076
52,076
5
Directors' transactions
Dividends totalling £7,566 (2022 - £13,403) were paid in the year in respect of shares held by the company's directors.
6
Shareholders Dividends
Dividends totalling £2,658 (2022 - £17,767 ) were paid in the year in respect of shares held by the company's shareholders (excluding directors dividends paid).