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REGISTERED NUMBER: 05850576 (England and Wales)











Unaudited Financial Statements

for the Year Ended 31 March 2023

for

Groundstone Overseas Developments Ltd

Groundstone Overseas Developments Ltd (Registered number: 05850576)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 4


Groundstone Overseas Developments Ltd

Company Information
for the Year Ended 31 March 2023







DIRECTORS: Mr J H Cutmore
Mr A M Speed





SECRETARY: Mr A M Speed





REGISTERED OFFICE: Eldo House
Kempson Way
Suffolk Business Park
Bury St Edmunds
Suffolk
IP32 7AR





REGISTERED NUMBER: 05850576 (England and Wales)





ACCOUNTANTS: Knights Lowe
Chartered Accountants
Eldo House, Kempson Way
Suffolk Business Park
Bury St Edmunds
Suffolk
IP32 7AR

Groundstone Overseas Developments Ltd (Registered number: 05850576)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investments 4 142,053 142,053

CURRENT ASSETS
Cash at bank 100 81

CREDITORS
Amounts falling due within one year 5 2,370 1,887
NET CURRENT LIABILITIES (2,270 ) (1,806 )
TOTAL ASSETS LESS CURRENT LIABILITIES 139,783 140,247

CAPITAL AND RESERVES
Called up share capital 6 157,500 157,500
Retained earnings (17,717 ) (17,253 )
SHAREHOLDERS' FUNDS 139,783 140,247

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 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 November 2023 and were signed on its behalf by:





Mr A M Speed - Director


Groundstone Overseas Developments Ltd (Registered number: 05850576)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Groundstone Overseas Developments Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Significant judgements and estimates
In the application of the Company's accounting policies, which are described below, the directors are required to make judgements about the carrying amount of certain assets that are not readily apparent from other sources. Actual results may differ from the estimates employed. The material judgement is as below.

Fair value of loan to subsidiary undertaking
The Company has provided loan finance to its subsidiary for the purchase of a parcel of land in Romania. No interest is charged and technically the loan is repayable on demand. Any impairment to that loan is recognised in the profit or loss account. The Directors commission periodic informal independent professional valuations to determine the estimated fair value of the underlying land at open market value and hence, on an annual basis assess the recoverabliity of the loan and potential impairment of that asset.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Fixed asset investment
The Company's fixed asset investment is stated at the lower of cost and net realisable value.

Impairment
At each reporting date, loans and investments, excluding investment properties, are assessed to determine whether there is an indication that the carrying amount of an asset may be more than its recoverable amount and that the asset should be impaired. If there is an indication of possible impairment, the recoverable amount of an asset, which is the higher of its value in use and its net realisable value, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is written down to its estimated recoverable amount and an impairment loss is recognised in profit and loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. FIXED ASSET INVESTMENTS

Groundstone Overseas Developments Ltd (Registered number: 05850576)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023
Loans to
group
undertakings
£   
At 1 April 2022
and 31 March 2023 142,053

Subsidiary undertaking

The company holds 100% of the ordinary share capital of G.O. Properties & Development S.R.L. an investment company incorporated in Romania.

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other creditors 2,370 1,887

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
157,500 Ordinary £1 157,500 157,500