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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
Page
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Groundwork Procurement Services Ltd Company Information for the year ended 31 July 2023
Director
Mr B Johnston
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
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Groundwork Procurement Services Ltd Statement of financial position as at 31 July 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
12,163 
468 
Current assets
Debtors
58,101 
82,214 
Cash at bank and in hand
93,081 
125,871 
151,182 
208,085 
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
Deferred tax
(2,311)
(89)
Net assets
109,190 
146,434 
Capital and reserves
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
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Groundwork Procurement Services Ltd Notes to the Accounts for the year ended 31 July 2023
1
Statutory information
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.
3
Accounting policies
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.
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 over their estimated useful lives:
Plant & machinery
25% reducing balance
Motor vehicles
25% reducing balance
Deferred taxation
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 
Additions
- 
13,500 
13,500 
At 31 July 2023
3,403 
13,500 
16,903 
Depreciation
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 
Net book value
At 31 July 2023
351 
11,812 
12,163 
At 31 July 2022
468 
- 
468 
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Groundwork Procurement Services Ltd Notes to the Accounts for the year ended 31 July 2023
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
58,101 
81,298 
Other debtors
- 
916 
58,101 
82,214 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
10,310 
- 
Trade creditors
29,823 
45,872 
Taxes and social security
4,179 
14,558 
Other creditors
2,143 
- 
Loans from directors
3,789 
- 
Accruals
1,600 
1,600 
51,844 
62,030 
7
Average number of employees
During the year the average number of employees was 4 (2022: 4).
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