Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.552022-04-01falseGroundworkstruetrue 05755940 2022-04-01 2023-03-31 05755940 2021-04-01 2022-03-31 05755940 2023-03-31 05755940 2022-03-31 05755940 c:CompanySecretary1 2022-04-01 2023-03-31 05755940 c:Director1 2022-04-01 2023-03-31 05755940 c:Director2 2022-04-01 2023-03-31 05755940 c:RegisteredOffice 2022-04-01 2023-03-31 05755940 d:PlantMachinery 2022-04-01 2023-03-31 05755940 d:PlantMachinery 2023-03-31 05755940 d:PlantMachinery 2022-03-31 05755940 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 05755940 d:MotorVehicles 2022-04-01 2023-03-31 05755940 d:MotorVehicles 2023-03-31 05755940 d:MotorVehicles 2022-03-31 05755940 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 05755940 d:FurnitureFittings 2022-04-01 2023-03-31 05755940 d:FurnitureFittings 2023-03-31 05755940 d:FurnitureFittings 2022-03-31 05755940 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 05755940 d:OfficeEquipment 2022-04-01 2023-03-31 05755940 d:OfficeEquipment 2023-03-31 05755940 d:OfficeEquipment 2022-03-31 05755940 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 05755940 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 05755940 d:CurrentFinancialInstruments 2023-03-31 05755940 d:CurrentFinancialInstruments 2022-03-31 05755940 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 05755940 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 05755940 d:ShareCapital 2023-03-31 05755940 d:ShareCapital 2022-03-31 05755940 d:RetainedEarningsAccumulatedLosses 2023-03-31 05755940 d:RetainedEarningsAccumulatedLosses 2022-03-31 05755940 c:FRS102 2022-04-01 2023-03-31 05755940 c:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 05755940 c:FullAccounts 2022-04-01 2023-03-31 05755940 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 05755940 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 05755940 d:AcceleratedTaxDepreciationDeferredTax 2022-03-31 05755940 2 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Registered number: 05755940










K H GROUNDWORKS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
K H GROUNDWORKS LIMITED
 
 
COMPANY INFORMATION


Directors
Mr K Hoolhouse 
Mrs S Hoolhouse 




Company secretary
Mrs S Hoolhouse



Registered number
05755940



Registered office
12 Church Street

Cromer

Norfolk

NR27 9ER




Accountants
MA Partners LLP
Chartered Accountants

12 Church Street

Cromer

Norfolk

NR27 9ER





 
K H GROUNDWORKS LIMITED
 

CONTENTS



Page
Accountants' Report
 
 
1
Balance Sheet
 
 
2 - 3
Notes to the Financial Statements
 
 
4 - 9


 
K H GROUNDWORKS LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF K H GROUNDWORKS LIMITED
FOR THE YEAR ENDED 31 MARCH 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of K H Groundworks Limited for the year ended 31 March 2023 which comprise the Balance Sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of Directors of K H Groundworks Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of K H Groundworks Limited  and state those matters that we have agreed to state to the Board of Directors of K H Groundworks Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than K H Groundworks Limited and its Board of Directors, as a body, for our work or for this report. 

It is your duty to ensure that K H Groundworks Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of K H Groundworks Limited. You consider that K H Groundworks Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of K H Groundworks Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



MA Partners LLP
 
Chartered Accountants
  
12 Church Street
Cromer
Norfolk
NR27 9ER
18 October 2023
Page 1

 
K H GROUNDWORKS LIMITED
REGISTERED NUMBER: 05755940

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
36,091
44,977

  
36,091
44,977

Current assets
  

Stocks
  
2,100
2,100

Debtors: amounts falling due within one year
 5 
33,589
40,935

Cash at bank and in hand
 6 
17,985
16,248

  
53,674
59,283

Creditors: amounts falling due within one year
 7 
(13,386)
(25,269)

Net current assets
  
 
 
40,288
 
 
34,014

Total assets less current liabilities
  
76,379
78,991

Provisions for liabilities
  

Deferred tax
 8 
(6,858)
(8,546)

  
 
 
(6,858)
 
 
(8,546)

Net assets
  
69,521
70,445


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
69,421
70,345

  
69,521
70,445


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.

Page 2

 
K H GROUNDWORKS LIMITED
REGISTERED NUMBER: 05755940
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 18 October 2023.




Mr K Hoolhouse
Mrs S Hoolhouse
Director
Director

The notes on pages 4 to 9 form part of these financial statements.

Page 3

 
K H GROUNDWORKS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

K H Groundworks Limited is a private company limited by shares, incorporated and domiciled in England and Wales.  The address of its registered office is 12 Church Street, Cromer, Norfolk, NR27 9ER.
The company's principal activity is that of construction of domestic buildings.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The following principal accounting policies have been applied:

 
2.2

Revenue

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover 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 turnover is recognised:

Rendering of services

Turnover 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 turnover 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

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

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 Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
K H GROUNDWORKS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.5

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 balance sheet 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 balance sheet 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 balance sheet date.

 
2.6

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.

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

Depreciation is provided on the following basis:

Plant and machinery
-
15%
reducing balance
Motor vehicles
-
25%
reducing balance
Fixtures and fittings
-
15%
reducing balance
Office equipment
-
33%
straight line

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.

Page 5

 
K H GROUNDWORKS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.8

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.

 
2.9

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.

 
2.10

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.

 
2.11

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 balance sheet 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 Balance Sheet.


3.


Employees

The average monthly number of employees, including directors, during the year was 5 (2022 - 5).

Page 6

 
K H GROUNDWORKS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Fixtures and fittings
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 April 2022
57,242
36,040
1,583
5,991
100,856


Additions
-
366
-
-
366



At 31 March 2023

57,242
36,406
1,583
5,991
101,222



Depreciation


At 1 April 2022
36,237
12,204
1,447
5,991
55,879


Charge for the year on owned assets
3,179
6,052
21
-
9,252



At 31 March 2023

39,416
18,256
1,468
5,991
65,131



Net book value



At 31 March 2023
17,826
18,150
115
-
36,091



At 31 March 2022
21,005
23,836
136
-
44,977

Page 7

 
K H GROUNDWORKS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


Debtors

2023
2022
£
£


Trade debtors
13,072
15,083

Other debtors
19,670
25,714

Prepayments and accrued income
847
138

33,589
40,935



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
17,985
16,248

17,985
16,248



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
620
1,101

Corporation tax
4,964
5,003

Other creditors
6,692
18,075

Accruals and deferred income
1,110
1,090

13,386
25,269



8.


Deferred taxation




2023


£






At beginning of year
(8,546)


Charged to profit or loss
1,688



At end of year
(6,858)

Page 8

 
K H GROUNDWORKS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
 
8.Deferred taxation (continued)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(6,858)
(8,546)

(6,858)
(8,546)

 
Page 9