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REGISTERED NUMBER: 12003398 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023

FOR

GROUNDFORCE DEVELOPMENTS LTD

GROUNDFORCE DEVELOPMENTS LTD (REGISTERED NUMBER: 12003398)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GROUNDFORCE DEVELOPMENTS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTORS: R D P Farr
M G Carpenter





REGISTERED OFFICE: Kimville
Broadway Lane
Denmead
Hampshire
PO7 5NT





REGISTERED NUMBER: 12003398 (England and Wales)





ACCOUNTANTS: Landi Accounting Limited
62 Stakes Road
Purbrook
Waterlooville
Hampshire
PO7 5NT

GROUNDFORCE DEVELOPMENTS LTD (REGISTERED NUMBER: 12003398)

BALANCE SHEET
31 MAY 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 18,011 21,429

CURRENT ASSETS
Stocks 221,855 370,581
Debtors 5 182,537 114,835
Cash at bank and in hand 48,903 2,830
453,295 488,246
CREDITORS
Amounts falling due within one year 6 470,880 503,766
NET CURRENT LIABILITIES (17,585 ) (15,520 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

426

5,909

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 424 5,907
SHAREHOLDERS' FUNDS 426 5,909

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

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

GROUNDFORCE DEVELOPMENTS LTD (REGISTERED NUMBER: 12003398)

BALANCE SHEET - continued
31 MAY 2023


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 16 February 2024 and were signed on its behalf by:




M G Carpenter - Director



R D P Farr - Director


GROUNDFORCE DEVELOPMENTS LTD (REGISTERED NUMBER: 12003398)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

1. STATUTORY INFORMATION

GROUNDFORCE 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

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 6 (2022 - 4 ) .

GROUNDFORCE DEVELOPMENTS LTD (REGISTERED NUMBER: 12003398)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 June 2022
and 31 May 2023 6,065 26,200 2,296 34,561
DEPRECIATION
At 1 June 2022 1,205 10,647 1,280 13,132
Charge for year 899 1,925 594 3,418
At 31 May 2023 2,104 12,572 1,874 16,550
NET BOOK VALUE
At 31 May 2023 3,961 13,628 422 18,011
At 31 May 2022 4,860 15,553 1,016 21,429

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade debtors 164,395 100,799
Other debtors 18,142 14,036
182,537 114,835

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade creditors 279,849 214,198
Taxation and social security 158,317 246,328
Other creditors 32,714 43,240
470,880 503,766