Company Registration No. 6951529 (England and Wales)
Groundwork Procurement Services Ltd
Unaudited accounts
for the year ended 31 July 2023
Groundwork Procurement Services Ltd
Unaudited accounts
Contents
Groundwork Procurement Services Ltd
Company Information
for the year ended 31 July 2023
Company Number
6951529 (England and Wales)
Registered Office
West Clayton Business Centre
Berry Lane
Chorleywood
Hertfordshire
WD3 5EX
Accountants
GIA Foley & Co Ltd
West Clayton Business Centre
Berry Lane
Chorleywood
Hertfordshire
WD3 5EX
Groundwork Procurement Services Ltd
Statement of financial position
as at 31 July 2023
Tangible assets
12,163
468
Cash at bank and in hand
93,081
125,871
Creditors: amounts falling due within one year
(51,844)
(62,030)
Net current assets
99,338
146,055
Total assets less current liabilities
111,501
146,523
Provisions for liabilities
Net assets
109,190
146,434
Called up share capital
50
100
Capital redemption reserve
50
-
Profit and loss account
109,090
146,334
Shareholders' funds
109,190
146,434
For the year ending 31 July 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 8 November 2023 and were signed on its behalf by
Mr B Johnston
Director
Company Registration No. 6951529
Groundwork Procurement Services Ltd
Notes to the Accounts
for the year ended 31 July 2023
Groundwork Procurement Services Ltd is a private company, limited by shares, registered in England and Wales, registration number 6951529. The registered office is West Clayton Business Centre, Berry Lane, Chorleywood, Hertfordshire, WD3 5EX.
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 remained unchanged from the previous year, and also 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 over their estimated useful lives:
Plant & machinery
25% reducing balance
Motor vehicles
25% reducing balance
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 August 2022
3,403
-
3,403
At 31 July 2023
3,403
13,500
16,903
At 1 August 2022
2,935
-
2,935
Charge for the year
117
1,688
1,805
At 31 July 2023
3,052
1,688
4,740
At 31 July 2023
351
11,812
12,163
Groundwork Procurement Services Ltd
Notes to the Accounts
for the year ended 31 July 2023
Amounts falling due within one year
Trade debtors
58,101
81,298
6
Creditors: amounts falling due within one year
2023
2022
Trade creditors
29,823
45,872
Taxes and social security
4,179
14,558
Loans from directors
3,789
-
7
Average number of employees
During the year the average number of employees was 4 (2022: 4).