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REGISTERED NUMBER: 02871169 (England and Wales)















Groundwork Pride Limited

Report of the Directors and

Unaudited Financial Statements For The Year Ended 31 March 2023






Groundwork Pride Limited (Registered number: 02871169)






Contents of the Financial Statements
For The Year Ended 31 March 2023




Page

Company Information 1

Report of the Directors 2

Income Statement 3

Balance Sheet 4

Notes to the Financial Statements 5


Groundwork Pride Limited

Company Information
For The Year Ended 31 March 2023







DIRECTORS: P Cooper
D Queenan
F J Lawrence
G Williams



SECRETARY: Ms S J Munro



REGISTERED OFFICE: Environment & Business Centre
Merlyn-Rees Avenue
Morley
LEEDS
West Yorkshire
LS27 9SL



REGISTERED NUMBER: 02871169 (England and Wales)



ACCOUNTANTS: Kingswood Allotts Limited
Chartered Accountants
Sidings Court
Lakeside
Doncaster
South Yorkshire
DN4 5NU



BANKERS: The Co-operative Bank
Wakefield
WF1 3BG

Groundwork Pride Limited (Registered number: 02871169)

Report of the Directors
For The Year Ended 31 March 2023

The directors present their report with the financial statements of the company for the year ended 31 March 2023.

REVIEW OF BUSINESS
RESULTS FOR THE YEAR
A profit of £37,205 prior to gift aid donation (2022: £31,840) was made on turnover of £988,703 (2022: £1,195,842).

REVIEW OF BUSINESS
GPL is a wholly owned subsidiary of Groundwork Yorkshire (a limited company 22022681 and registered charity 519846).

In the period under review, GPL further developed its forward order book, securing over £1m of work for future periods with a target client ratio of 30% small/medium landscaping work; 40% housing developer related and 30% design build work developed and delivered in partnership. We are achieving a better than 50% tender success rate on our bid for work with ongoing positive client feedback - essential for our very competitive market place.

Our specific projects range from garden and public open space creation in areas of new housing to the delivery of technically demanding landscapes in commercial, public and private spaces. Projects completed in the past twelve months include hard and soft landscaping projects with values from £5,000 to £500,000.

Whilst GPL is not directly involved in the provision of charitable services, it works closely with the Trust and its contribution to the success of the Trust is more than simply the gift aiding of annual surplus. By delivering quality environmental service, GPL actively promotes the aims of its parent Trust and the national Groundwork network, often in areas and with partners who are not familiar with the work of Groundwork.

Whilst we have a clear focus on more commercial opportunities, our trading company remains important to the delivery of Groundwork's wider strategy in Yorkshire and the Humber, a process which brings added benefit as overhead costs are shared and staff gain greater and wider experience. Both locally and nationally the Federation of Groundwork Trusts has also initiated a process of change and has renewed its overall strategy whilst introducing a new partnership agreement for member trusts. This process of change means that our work and development activity is being more closely aligned with that of fellow Groundwork Trusts. This has led to a number of interesting and useful developments already, including the shared development of design services with our colleagues in the North East which has the potential to expand the work of GPL further.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 April 2022 to the date of this report.

P Cooper
D Queenan

Other changes in directors holding office are as follows:

J Readshaw - resigned 14 November 2022
F J Lawrence - appointed 14 November 2022
G Williams - appointed 14 November 2022

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





P Cooper - Director


26 September 2023

Groundwork Pride Limited (Registered number: 02871169)

Income Statement
For The Year Ended 31 March 2023

2023 2022
£    £   

TURNOVER 988,703 1,195,842

Cost of sales 742,832 950,144
GROSS PROFIT 245,871 245,698

Administrative expenses 201,314 228,813
44,557 16,885

Other operating income 170 19,790
OPERATING PROFIT 44,727 36,675


Interest payable and similar expenses 7,522 4,835
PROFIT BEFORE TAXATION 37,205 31,840

Tax on profit - -
PROFIT FOR THE FINANCIAL YEAR 37,205 31,840

Groundwork Pride Limited (Registered number: 02871169)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 11,862 9,463

CURRENT ASSETS
Debtors 5 453,987 570,889
Cash at bank 4,012 25,550
457,999 596,439
CREDITORS
Amounts falling due within one year 6 436,160 592,463
NET CURRENT ASSETS 21,839 3,976
TOTAL ASSETS LESS CURRENT LIABILITIES 33,701 13,439

CREDITORS
Amounts falling due after more than one
year

7

226,677

243,620
NET LIABILITIES (192,976 ) (230,181 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (193,076 ) (230,281 )
SHAREHOLDERS' FUNDS (192,976 ) (230,181 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 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 in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 26 September 2023 and were signed on its behalf by:





P Cooper - Director


Groundwork Pride Limited (Registered number: 02871169)

Notes to the Financial Statements
For The Year Ended 31 March 2023

1. STATUTORY INFORMATION

Groundwork Pride 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.

These accounts have been prepared on the going concern basis on the assumption that the parent company, Groundwork Yorkshire Limited, will continue to support its operations. Groundwork Yorkshire Limited has incurred repeated group deficits on unrestricted funds and group net current liabilities on unrestricted funds. Details of Groundwork Yorkshire Limited's plans to address the deficit of funds can be found in note 1 of its accounts. These plans include a merger with Groundwork North Yorkshire and The Leeds Groundwork Trust and the acquisition of part of the business of Groundwork South Yorkshire. This merger to form Groundwork Yorkshire Limited will improve efficiency so enhance the ability of the group to support its subsidiaries.

Based on the above considerations the Board considers it remains appropriate to prepare the accounts on a going concern basis.

Turnover
Turnover represents revenue recognised by the company in respect of goods and services supplied, exclusive of Value Added Tax and trade discounts. Revenue is recognised when work is performed. Any excess of sales invoiced over revenue recognised is included as deferred income within other creditors, and any deficit as accrued income within other debtors.

Tangible fixed assets
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the costs of fixed assets, less their estimated residual value over their expected useful lives on the following bases:

Plant & machinery - over 5 years straight line
Fixtures & fittings - over 3-5 years straight line

Pension costs
The company makes contributions to the West Yorkshire Pension Scheme, a multi-employer defined benefit pension scheme. This company's share of the scheme cannot be separately identified and therefore, in accordance with FRS102 the contributions have have been accounted for as defined contribution pension scheme. Within the accounts of the parent company the pension scheme has been accounted for as a defined benefit scheme as the group's share of the scheme can be identified. The pension charge represents contributions payable by the company to the scheme.

Government grants
The company has adopted the performance model.

Government revenue grants towards current expenditure are recognised in the period the expenditure is incurred.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2022 - 11 ) .

Groundwork Pride Limited (Registered number: 02871169)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 April 2022 13,054 25,836 38,890
Additions 5,110 - 5,110
At 31 March 2023 18,164 25,836 44,000
DEPRECIATION
At 1 April 2022 10,753 18,674 29,427
Charge for year 1,712 999 2,711
At 31 March 2023 12,465 19,673 32,138
NET BOOK VALUE
At 31 March 2023 5,699 6,163 11,862
At 31 March 2022 2,301 7,162 9,463

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 290,409 364,692
Amounts owed by group undertakings - 6,050
Other debtors 163,578 200,147
453,987 570,889

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 121,310 163,962
Amounts owed to group undertakings 74,630 181,952
Taxation and social security 5,853 46,993
Other creditors 234,367 199,556
436,160 592,463

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Amounts owed to group undertakings 148,599 159,789
Other creditors 78,078 83,831
226,677 243,620

The above includes £158,330 (2022: £175,501) payable in instalments due after more than five years.

8. OTHER FINANCIAL COMMITMENTS

Financial commitments at the year-end were £8,970 (2022: £16,146).

Groundwork Pride Limited (Registered number: 02871169)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2023

9. RELATED PARTY DISCLOSURES

The company donates profits to the controlling charities based on the work performed in their operational areas. Donations to be paid for the year are £nil (2022: £nil).

The company entered transactions not under normal market conditions with its shareholders as follows:

SalesPurchasesDebtorsCreditors
£   £   £   £   
243,47950,340112,135331,238
20221,34040,8910333,875


10. ULTIMATE CONTROLLING PARTY

The company is controlled by Groundwork Yorkshire Limited as the majority shareholder. The registered office of Groundwork Yorkshire Limited is Environment & Business Centre, Merlyn-Rees Avenue, Morley, Leeds, LS27 9SL.

The company is consolidated in the group accounts prepared by its parent Groundwork Yorkshire Limited which are available from Companies House.