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REGISTERED NUMBER: 10963377 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2023

FOR

M UNDERWOOD GROUNDWORKS LTD

M UNDERWOOD GROUNDWORKS LTD (REGISTERED NUMBER: 10963377)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023










Page

Balance Sheet 1

Notes to the Financial Statements 3


M UNDERWOOD GROUNDWORKS LTD (REGISTERED NUMBER: 10963377)

BALANCE SHEET
30 SEPTEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 182,056 216,924
Investment property 5 322,670 212,898
504,726 429,822

CURRENT ASSETS
Stocks 3,000 14,675
Debtors 6 8,580 99,243
Cash at bank and in hand 126,199 290,689
137,779 404,607
CREDITORS
Amounts falling due within one year 7 27,496 106,530
NET CURRENT ASSETS 110,283 298,077
TOTAL ASSETS LESS CURRENT
LIABILITIES

615,009

727,899

PROVISIONS FOR LIABILITIES 34,591 41,216
NET ASSETS 580,418 686,683

CAPITAL AND RESERVES
Called up share capital 8 2 2
Retained earnings 580,416 686,681
SHAREHOLDERS' FUNDS 580,418 686,683

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

M UNDERWOOD GROUNDWORKS LTD (REGISTERED NUMBER: 10963377)

BALANCE SHEET - continued
30 SEPTEMBER 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 9 April 2024 and were signed on its behalf by:




Mr M A Underwood - Director



Mrs C N J Underwood - Director


M UNDERWOOD GROUNDWORKS LTD (REGISTERED NUMBER: 10963377)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023


1. STATUTORY INFORMATION

M Underwood Groundworks Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 10963377

Registered office: Eastmoor Farm
Eastmoor Lane
Doddington
March
Cambridgeshire
PE15 0WE

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 represents the invoiced value of goods and services supplied, net of value added tax and adjusted for opening and closing work in progress.

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 - 15% on reducing balance
Office & computer equipment - 20% on cost
Motor vehicles - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.


M UNDERWOOD GROUNDWORKS LTD (REGISTERED NUMBER: 10963377)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


2. ACCOUNTING POLICIES - continued
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 4 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Office &
Plant and computer Motor
machinery equipment vehicles Totals
£    £    £    £   
COST
At 1 October 2022 314,931 3,508 46,380 364,819
Additions 454 249 - 703
At 30 September 2023 315,385 3,757 46,380 365,522
DEPRECIATION
At 1 October 2022 125,854 2,457 19,584 147,895
Charge for year 28,422 449 6,700 35,571
At 30 September 2023 154,276 2,906 26,284 183,466
NET BOOK VALUE
At 30 September 2023 161,109 851 20,096 182,056
At 30 September 2022 189,077 1,051 26,796 216,924

M UNDERWOOD GROUNDWORKS LTD (REGISTERED NUMBER: 10963377)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2022 212,898
Additions 215,992
Disposals (106,220 )
At 30 September 2023 322,670
NET BOOK VALUE
At 30 September 2023 322,670
At 30 September 2022 212,898

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 77,371
Other debtors 8,580 21,872
8,580 99,243

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 10,152 41,265
Taxation and social security 4,091 47,440
Other creditors 13,253 17,825
27,496 106,530

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
2 Ordinary £1 2 2

9. TRANSACTIONS WITH DIRECTORS

Included in other creditors falling due within one year is a loan from the directors to the company amounting to £10,774 (2022 - £15,113). This loan is non-interest bearing and repayable on demand.

During the year dividends were paid to the directors amounting to £14,000 (2022 - £25,000).