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Company Registration No. 13871182 (England and Wales)
Mark Vallance Groundworks Ltd Unaudited accounts for the year ended 31 March 2023
Mark Vallance Groundworks Ltd Unaudited accounts Contents
Page
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Mark Vallance Groundworks Ltd Company Information for the year ended 31 March 2023
Director
Mark Vallance
Company Number
13871182 (England and Wales)
Registered Office
UNIT 5E SOUTH HAMS BUSINESS PARK CHURCHSTOW KINGSBRIDGE DEVON TQ7 3QH ENGLAND
Accountants
Helen Solomon Ltd Unit 4G South Hams Business Park Kingsbridge Devon TQ7 3QH
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Mark Vallance Groundworks Ltd Statement of financial position as at 31 March 2023
2023 
Notes
£ 
Fixed assets
Intangible assets
120,000 
Tangible assets
391,953 
511,953 
Current assets
Debtors
81,948 
Cash at bank and in hand
50,059 
132,007 
Creditors: amounts falling due within one year
(220,099)
Net current liabilities
(88,092)
Total assets less current liabilities
423,861 
Creditors: amounts falling due after more than one year
(26,428)
Net assets
397,433 
Capital and reserves
Called up share capital
100 
Fair value reserve
310,790 
Profit and loss account
86,543 
Shareholders' funds
397,433 
For the year ending 31 March 2023 the company was entitled to exemption from audit 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 20 October 2023 and were signed on its behalf by
Mark Vallance Director Company Registration No. 13871182
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Mark Vallance Groundworks Ltd Notes to the Accounts for the year ended 31 March 2023
1
Statutory information
Mark Vallance Groundworks Ltd is a private company, limited by shares, registered in England and Wales, registration number 13871182. The registered office is UNIT 5E SOUTH HAMS BUSINESS PARK, CHURCHSTOW, KINGSBRIDGE, DEVON, TQ7 3QH, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets less residual values over their estimated useful lives:
Plant & machinery
5% Reducing Balance
Motor vehicles
10% Reducing Balance
Computer equipment
25% on Cost
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation. Goodwill is being amortised equally over 5 years.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 April 2022
- 
Additions
150,000 
At 31 March 2023
150,000 
Amortisation
At 1 April 2022
- 
Charge for the year
30,000 
At 31 March 2023
30,000 
Net book value
At 31 March 2023
120,000 
Goodwill of £150,000 was paid to the Director on 1 April 2022 when the sole trader business was purchased by the company from him.
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Mark Vallance Groundworks Ltd Notes to the Accounts for the year ended 31 March 2023
5
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 April 2022
- 
- 
- 
- 
Additions
292,698 
116,950 
790 
410,438 
At 31 March 2023
292,698 
116,950 
790 
410,438 
Depreciation
Charge for the year
13,752 
4,495 
238 
18,485 
At 31 March 2023
13,752 
4,495 
238 
18,485 
Net book value
At 31 March 2023
278,946 
112,455 
552 
391,953 
The Plant and Machinery was revalued on 1 April 2022 by the director to the insurance replacement values of the assets.
The Vehicles were revalued by the director on 1 April 2022 by the director to the insurance values of the assets
The Computer and IT Equipment was revalued by the director on 1 April 2022 to the insurance value of the assets.
6
Debtors
2023 
£ 
Amounts falling due within one year
VAT
15,686 
Trade debtors
66,262 
81,948 
7
Creditors: amounts falling due within one year
2023 
£ 
Bank loans and overdrafts
10,000 
Obligations under finance leases and hire purchase contracts
3,741 
Trade creditors
84,527 
Taxes and social security
15,117 
Loans from directors
89,450 
Accruals
17,264 
220,099 
8
Creditors: amounts falling due after more than one year
2023 
£ 
Bank loans
26,428 
9
Share capital
2023 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
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Mark Vallance Groundworks Ltd Notes to the Accounts for the year ended 31 March 2023
10
Transactions with related parties
The business and assets were purchased from the director on 1 April 2022 less provision for finance debts on the assets. The director also loaned the company £40,000 on 1 April 2022 for the company to use as working capital. The remaining balance of the Director's Loan account was £89,450 as at 31 March 2023 due to the director.
11
Average number of employees
During the year the average number of employees was 12.
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