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Company Registration No. 14372576 (England and Wales)
Groundtec Developments Ltd Unaudited accounts for the period from 23 September 2022 to 30 September 2023
Groundtec Developments Ltd Unaudited accounts Contents
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Groundtec Developments Ltd Company Information for the period from 23 September 2022 to 30 September 2023
Director
Mr N Cohn
Company Number
14372576 (England and Wales)
Registered Office
4 Lynford Road Mundford Thetford IP26 5HN England
Accountants
Worthwhile Accountancy Farthingworth 4 Lynford Road Mundford Norfolk IP26 5HN
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Groundtec Developments Ltd Statement of financial position as at 30 September 2023
2023 
Notes
£ 
Fixed assets
Tangible assets
27,671 
Current assets
Debtors
4,499 
Cash at bank and in hand
328 
4,827 
Creditors: amounts falling due within one year
(12,950)
Net current liabilities
(8,123)
Total assets less current liabilities
19,548 
Creditors: amounts falling due after more than one year
(14,920)
Net assets
4,628 
Capital and reserves
Called up share capital
100 
Profit and loss account
4,528 
Shareholders' funds
4,628 
For the period ending 30 September 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 13 February 2024 and were signed on its behalf by
Mr N Cohn Director Company Registration No. 14372576
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Groundtec Developments Ltd Notes to the Accounts for the period from 23 September 2022 to 30 September 2023
1
Statutory information
Groundtec Developments Ltd is a private company, limited by shares, registered in England and Wales, registration number 14372576. The registered office is 4 Lynford Road, Mundford, Thetford, IP26 5HN, England.
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 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% RB
Motor vehicles
25% RB
Computer equipment
25% SL
Leased Assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 23 September 2022
- 
- 
- 
- 
Additions
25,603 
9,643 
1,649 
36,895 
At 30 September 2023
25,603 
9,643 
1,649 
36,895 
Depreciation
Charge for the period
6,401 
2,411 
412 
9,224 
At 30 September 2023
6,401 
2,411 
412 
9,224 
Net book value
At 30 September 2023
19,202 
7,232 
1,237 
27,671 
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Groundtec Developments Ltd Notes to the Accounts for the period from 23 September 2022 to 30 September 2023
5
Debtors
2023 
£ 
Amounts falling due within one year
Trade debtors
1,280 
Other debtors
3,219 
4,499 
6
Creditors: amounts falling due within one year
2023 
£ 
VAT
954 
Obligations under finance leases and hire purchase contracts
4,712 
Trade creditors
1,401 
Loans from directors
5,883 
12,950 
7
Creditors: amounts falling due after more than one year
2023 
£ 
Obligations under finance leases and hire purchase contracts
14,920 
8
Operating lease commitments
2023 
£ 
At 30 September 2023 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
4,712 
Later than one year and not later than five years
14,920 
19,632 
9
Average number of employees
During the period the average number of employees was 2.
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