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
Mark Vallance Groundworks Ltd
Company Information
for the year ended 31 March 2023
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
Mark Vallance Groundworks Ltd
Statement of financial position
as at 31 March 2023
Cash at bank and in hand
50,059
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)
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
Mark Vallance Groundworks Ltd
Notes to the Accounts
for the year ended 31 March 2023
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
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 (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
Charge for the year
30,000
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.
Mark Vallance Groundworks Ltd
Notes to the Accounts
for the year ended 31 March 2023
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Tangible fixed assets
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
Additions
292,698
116,950
790
410,438
At 31 March 2023
292,698
116,950
790
410,438
Charge for the year
13,752
4,495
238
18,485
At 31 March 2023
13,752
4,495
238
18,485
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.
Amounts falling due within one year
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
Taxes and social security
15,117
Loans from directors
89,450
8
Creditors: amounts falling due after more than one year
2023
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
Mark Vallance Groundworks Ltd
Notes to the Accounts
for the year ended 31 March 2023
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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.
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Average number of employees
During the year the average number of employees was 12.