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Groundforce1 Ltd
Registered Number:10920976
For the year ended 31 August 2022
England and Wales
Unaudited Financial Statements
2
For the year ended 31 August 2022
Groundforce1 Ltd
Contents Page
1
Statement of Financial Position
2 to 5
Notes to the Financial Statements
3
Registered Number :
10920976
As at 31 August 2022
Groundforce1 Ltd
Statement of Financial Position
£
£
2021
2022
Notes
Fixed assets
Intangible assets
-
1,000
2
Property, plant and equipment
3,320
4,316
3
3,320
5,316
Current assets
Trade and other receivables
81,875
34,315
4
2,256
Cash and cash equivalents
-
34,315
84,131
Trade and other payables: amounts falling due within one
year
(50,144)
(37,148)
5
33,987
(2,833)
Net current liabilities
Total assets less current liabilities
487
39,303
Trade and other payables: amounts falling due after more
than one year
(38,333)
(34,748)
6
-
(820)
Provisions for liabilities
(34,261)
Net assets/liabilities
150
Capital and reserves
Called up share capital
1
1
Retained earnings
(34,262)
149
(34,261)
150
Shareholders' funds
For the year ended 31 August 2022 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 of its financial statements for the year ended 31 August 2022 in accordance with Section 476 of the Companies Act 2006
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section
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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
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4
Registered Number :
10920976
For the year ended 31 August 2022
Groundforce1 Ltd
Statement of Financial Position Continued
N White Director
These financial statements were approved and authorised for issue by the Board on 22 November 2023 and were signed by:
The notes form part of these financial statements
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5
For the year ended 31 August 2022
Groundforce1 Ltd
Notes to the Financial Statements
Statutory Information
Groundforce1 Ltd is a private limited company, limited by shares, domiciled in England and Wales, registration
number 10920976.
Registered address:
124 Addington Road
Addington Road
West Wickham
United Kingdom
BR4 9BQ
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the
Companies Act 2006. The financial statements have been prepared under the historical costs convention as
modified by the revaluation of certain assets.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for the provision of gardening and landscaping services, excluding value added tax.
Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of 5 years.
Property, plant and equipment
Property, plant and equipment, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery
33.33% Straight line
25% Reducing balance
Motor Vehicles
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.
Going Concern
At 31 August 2022, the company had net current liabilities of £2,833 and net liabilities of £34,261. The director has
considered the availability of working capital at 31 August 2022 and is of the opinion that this will be sufficient to
enable the company to continue operating for at least the 12 months from the date of signing these accounts, and
pay its debts as they fall due. The director has therefore concluded that the accounts should be prepared on a going
concern basis
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6
For the year ended 31 August 2022
Groundforce1 Ltd
Notes to the Financial Statements Continued
2. Intangible fixed assets
Goodwill
Cost or valuation
£
At 01 September 2021
5,000
At 31 August 2022
5,000
Amortisation
At 01 September 2021
4,000
1,000
Charge for year
At 31 August 2022
5,000
Net book value
At 31 August 2022
-
At 31 August 2021
1,000
3. Property, plant and equipment
Total
Motor
Vehicles
Plant and
Machinery
£
£
£
Cost or
valuation
At 01 September 2021
9,503
3,149
6,354
1,916
-
1,916
Additions
At 31 August 2022
8,270
3,149
11,419
Provision for depreciation and impairment
At 01 September 2021
5,187
1,575
3,612
Charge for year
2,912
787
2,125
At 31 August 2022
8,099
2,362
5,737
At 31 August 2022
Net book value
2,533
787
3,320
At 31 August 2021
2,742
1,574
4,316
4. Trade and other receivables
2021
2022
£
£
Trade debtors
14,942
46,700
Other debtors
19,373
35,175
81,875
34,315
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7
For the year ended 31 August 2022
Groundforce1 Ltd
Notes to the Financial Statements Continued
5. Trade and other payables: amounts falling due within one year
2021
2022
£
£
Bank loans and overdraft
4,782
10,000
Trade creditors
-
1,929
Taxation and social security
10,288
24,430
Other creditors
22,078
13,785
37,148
50,144
6. Trade and other payables: amounts falling due after more than one year
2021
2022
£
£
Bank loans and overdraft
34,748
38,333
Analysis of creditors falling due after more than five years:
Payable by instalments
14,600
19,827
7. Average number of persons employed
During the year the average number of employees was 3 (2021 : 2)
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