IRIS Accounts Production v23.3.0.418 10741127 Board of Directors 1.9.22 31.8.23 31.8.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh107411272022-08-31107411272023-08-31107411272022-09-012023-08-31107411272021-08-31107411272021-09-012022-08-31107411272022-08-3110741127ns10:Originalns15:EnglandWales2022-09-012023-08-3110741127ns14:PoundSterlingns10:Original2022-09-012023-08-3110741127ns10:Originalns10:Director12022-09-012023-08-3110741127ns10:Original2022-09-012023-08-3110741127ns10:Original2023-08-3110741127ns10:Originalns10:PrivateLimitedCompanyLtd2022-09-012023-08-3110741127ns10:Originalns10:SmallEntities2022-09-012023-08-3110741127ns10:Originalns10:AuditExempt-NoAccountantsReport2022-09-012023-08-3110741127ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-09-012023-08-3110741127ns10:SmallCompaniesRegimeForAccountsns10:Original2022-09-012023-08-3110741127ns10:Originalns10:AbridgedAccounts2022-09-012023-08-3110741127ns10:Originalns10:Director22022-09-012023-08-3110741127ns10:Originalns10:Director32022-09-012023-08-3110741127ns10:Originalns10:Director42022-09-012023-08-3110741127ns10:Originalns10:RegisteredOffice2022-09-012023-08-3110741127ns10:Original2022-08-3110741127ns10:Originalns5:CurrentFinancialInstruments2023-08-3110741127ns10:Originalns5:CurrentFinancialInstruments2022-08-3110741127ns5:ShareCapitalns10:Original2023-08-3110741127ns5:ShareCapitalns10:Original2022-08-3110741127ns10:Originalns5:CapitalRedemptionReserve2023-08-3110741127ns10:Originalns5:CapitalRedemptionReserve2022-08-3110741127ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-08-3110741127ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-08-3110741127ns10:Originalns5:PlantMachinery2022-09-012023-08-3110741127ns10:Originalns5:FurnitureFittings2022-09-012023-08-3110741127ns10:Original2021-09-012022-08-3110741127ns10:Original2022-08-3110741127ns10:Originalns5:WithinOneYear2023-08-3110741127ns10:Originalns5:WithinOneYear2022-08-3110741127ns5:BetweenOneFiveYearsns10:Original2023-08-3110741127ns5:BetweenOneFiveYearsns10:Original2022-08-3110741127ns10:Originalns5:MoreThanFiveYears2023-08-3110741127ns10:Originalns5:MoreThanFiveYears2022-08-3110741127ns10:Originalns5:AllPeriods2023-08-3110741127ns10:Originalns5:AllPeriods2022-08-31
REGISTERED NUMBER: 10741127 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023

FOR

INDEPENDENT GROUNDWORKS SUPPLIES
LIMITED

INDEPENDENT GROUNDWORKS SUPPLIES
LIMITED (REGISTERED NUMBER: 10741127)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 August 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


INDEPENDENT GROUNDWORKS SUPPLIES
LIMITED

COMPANY INFORMATION
for the year ended 31 August 2023







DIRECTORS: L Beavon
D J O'Neill
P Williams
I J Melvin





REGISTERED OFFICE: Highdown House
11 Highdown Road
Leamington Spa
Warwickshire
CV31 1XT





REGISTERED NUMBER: 10741127 (England and Wales)






INDEPENDENT GROUNDWORKS SUPPLIES
LIMITED (REGISTERED NUMBER: 10741127)

ABRIDGED BALANCE SHEET
31 August 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 13,374 14,151

CURRENT ASSETS
Stocks 269,388 255,086
Debtors 1,618,754 2,115,756
Cash at bank and in hand 1,396,303 1,222,207
3,284,445 3,593,049
CREDITORS
Amounts falling due within one year 1,749,496 2,292,678
NET CURRENT ASSETS 1,534,949 1,300,371
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,548,323

1,314,522

CAPITAL AND RESERVES
Called up share capital 7 165,000 173,500
Capital redemption reserve 85,000 76,500
Retained earnings 1,298,323 1,064,522
1,548,323 1,314,522

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

INDEPENDENT GROUNDWORKS SUPPLIES
LIMITED (REGISTERED NUMBER: 10741127)

ABRIDGED BALANCE SHEET - continued
31 August 2023


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

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 August 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 1 December 2023 and were signed on its behalf by:





D J O'Neill - Director


INDEPENDENT GROUNDWORKS SUPPLIES
LIMITED (REGISTERED NUMBER: 10741127)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 August 2023

1. STATUTORY INFORMATION

Independent Groundworks Supplies 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.

The accounts have been prepared in accordance with applicable accounting standards. The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year.

Turnover
Turnover comprises the value of sales (net of value added tax) of goods and services provided in the normal course of business. Revenue is recognised in respect of service contracts when the company obtains the right to consideration.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant & machinery - 25% on reducing balance
Fixtures & fittings - 25% on reducing balance

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

INDEPENDENT GROUNDWORKS SUPPLIES
LIMITED (REGISTERED NUMBER: 10741127)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 August 2023

2. ACCOUNTING POLICIES - continued

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 17 (2022 - 18 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 September 2022 36,930
Additions 2,881
At 31 August 2023 39,811
DEPRECIATION
At 1 September 2022 22,779
Charge for year 3,658
At 31 August 2023 26,437
NET BOOK VALUE
At 31 August 2023 13,374
At 31 August 2022 14,151

5. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 55,000 55,000
Between one and five years 220,000 220,000
In more than five years 130,500 185,500
405,500 460,500

The operating lease commitments relate to Land and Buildings.

6. SECURED DEBTS

A fixed and floating charge is held over the company and it's assets

INDEPENDENT GROUNDWORKS SUPPLIES
LIMITED (REGISTERED NUMBER: 10741127)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 August 2023

7. CALLED UP SHARE CAPITAL

During the year the company made a purchase of own shares. The company purchased 8,500 ordinary A shares for total consideration of £100,000.

8. CONTROLLING INTERESTS

The directors are considered to be the ultimate controlling parties by virtue of their ability to act in concert in respect of the financial and operating policies of the company.