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REGISTERED NUMBER: 09923733 (England and Wales)















GROUNDRICH LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2023






GROUNDRICH LIMITED (REGISTERED NUMBER: 09923733)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GROUNDRICH LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2023







DIRECTORS: D J Richardson
C K Richardson





SECRETARY: C K Richardson





REGISTERED OFFICE: Pembroke House
Llantarnam Park Way
Cwmbran
Torfaen
NP44 3AU





REGISTERED NUMBER: 09923733 (England and Wales)





ACCOUNTANTS: Green & Co
Chartered Certified Accountants
Pembroke House
Llantarnam Park Way
Cwmbran
Torfaen
NP44 3AU

GROUNDRICH LIMITED (REGISTERED NUMBER: 09923733)

BALANCE SHEET
31ST MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,727 2,032
Investments 5 102,352 -
104,079 2,032

CURRENT ASSETS
Stocks 245,450 25,600
Debtors 6 668,572 909,080
Cash at bank and in hand 486,480 832,902
1,400,502 1,767,582
CREDITORS
Amounts falling due within one year 7 332,730 523,955
NET CURRENT ASSETS 1,067,772 1,243,627
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,171,851

1,245,659

PROVISIONS FOR LIABILITIES 1,406 386
NET ASSETS 1,170,445 1,245,273

GROUNDRICH LIMITED (REGISTERED NUMBER: 09923733)

BALANCE SHEET - continued
31ST MARCH 2023

2023 2022
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 8 100 100
Fair value reserve 9 4,347 -
Retained earnings 1,165,998 1,245,173
SHAREHOLDERS' FUNDS 1,170,445 1,245,273

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7th November 2023 and were signed on its behalf by:





D J Richardson - Director


GROUNDRICH LIMITED (REGISTERED NUMBER: 09923733)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2023

1. STATUTORY INFORMATION

Groundrich Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


GROUNDRICH LIMITED (REGISTERED NUMBER: 09923733)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2022 - 16 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1st April 2022
and 31st March 2023 3,736
DEPRECIATION
At 1st April 2022 1,704
Charge for year 305
At 31st March 2023 2,009
NET BOOK VALUE
At 31st March 2023 1,727
At 31st March 2022 2,032

GROUNDRICH LIMITED (REGISTERED NUMBER: 09923733)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2023

5. FIXED ASSET INVESTMENTS
Unlisted
investments
£   
COST OR VALUATION
Additions 96,986
Revaluations 5,366
At 31st March 2023 102,352
NET BOOK VALUE
At 31st March 2023 102,352

Cost or valuation at 31st March 2023 is represented by:

Unlisted
investments
£   
Valuation in 2023 102,352

Market value of listed investments at 31st March 2023 - £ 102,352 .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 599,922 909,080
Other debtors 18,548 -
VAT 50,102 -
668,572 909,080

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 120,767 95,102
Corporation Tax - 178,551
Social security and other taxes 21,451 29,318
VAT - 30,076
Directors' current accounts 302 302
Pensions 1,007 426
Accrued expenses 189,203 190,180
332,730 523,955

GROUNDRICH LIMITED (REGISTERED NUMBER: 09923733)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2023

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

9. RESERVES
Fair
value
reserve
£   
Revaluations 5,367
Deferred tax (1,020 )

At 31st March 2023 4,347

10. RELATED PARTY DISCLOSURES

During the year, the company purchased and incurred the following costs from D & M Landscaping Limited, a company of which DJ Richardson and CK Richardson are both directors:

Hire charges £1,160,000 (2022: £720,000)
Management charges £Nil (2022: £150,000).

At 31 March 2023, an amount of £158,100 (2022: £158,100) was owing to D & M Landscaping Limited and is included in Accrued Expenses.

At 31 March 2023, the balance owing to D J Richardson on his director's loan account was £302 (2022:
£302).