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REGISTERED NUMBER: 09735444 (England and Wales)















GROUNDWORKS SOLUTIONS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023






GROUNDWORKS SOLUTIONS LIMITED (REGISTERED NUMBER: 09735444)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GROUNDWORKS SOLUTIONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2023







DIRECTORS: Mr W Cooper
Ms N Palmer-Cooper





REGISTERED OFFICE: 424 Margate Road
Ramsgate
Kent
CT12 6SJ





REGISTERED NUMBER: 09735444 (England and Wales)





ACCOUNTANTS: Spurling Cannon
Chartered Certified Accountants
424 Margate Road
Westwood
Ramsgate
Kent
CT12 6SJ

GROUNDWORKS SOLUTIONS LIMITED (REGISTERED NUMBER: 09735444)

BALANCE SHEET
31 AUGUST 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 198,571 251,697

CURRENT ASSETS
Stocks 396,295 396,295
Debtors 5 547,737 677,510
944,032 1,073,805
CREDITORS
Amounts falling due within one year 6 (504,178 ) (695,338 )
NET CURRENT ASSETS 439,854 378,467
TOTAL ASSETS LESS CURRENT
LIABILITIES

638,425

630,164

CREDITORS
Amounts falling due after more than one
year

7

(163,855

)

(259,741

)
NET ASSETS 474,570 370,423

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 474,569 370,422
SHAREHOLDERS' FUNDS 474,570 370,423

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.

GROUNDWORKS SOLUTIONS LIMITED (REGISTERED NUMBER: 09735444)

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.

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 21 December 2023 and were signed on its behalf by:





Mr W Cooper - Director


GROUNDWORKS SOLUTIONS LIMITED (REGISTERED NUMBER: 09735444)

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

1. STATUTORY INFORMATION

Groundworks Solutions 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.

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.
Plant and machinery - 25% on reducing balance
Fixture & Fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

GROUNDWORKS SOLUTIONS LIMITED (REGISTERED NUMBER: 09735444)

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

4. TANGIBLE FIXED ASSETS
Plant and Fixture & Motor Computer
machinery Fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 September 2022 402,757 992 223,105 14,319 641,173
Additions - - 25,252 1,232 26,484
Disposals - - (31,797 ) - (31,797 )
At 31 August 2023 402,757 992 216,560 15,551 635,860
DEPRECIATION
At 1 September 2022 266,630 815 112,969 9,062 389,476
Charge for year 34,058 44 30,471 1,623 66,196
Eliminated on disposal - - (18,383 ) - (18,383 )
At 31 August 2023 300,688 859 125,057 10,685 437,289
NET BOOK VALUE
At 31 August 2023 102,069 133 91,503 4,866 198,571
At 31 August 2022 136,127 177 110,136 5,257 251,697

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 241,446 289,952
Amounts receivable in respect of hire
purchase contracts

20,360

35,153
Sundry debtors 204,643 265,420
White Mills Wake & Aquapark 10,000 -
Cooper and Palmer Cooper 12,925 -
VAT 58,363 86,985
547,737 677,510

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 2,973 64,032
Other loans 27,462 37,462
Trade creditors 333,716 457,151
Corporation Tax 124,805 99,595
Social security and other taxes 12,222 34,598
Accrued expenses 3,000 2,500
504,178 695,338

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts 163,855 259,741