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REGISTERED NUMBER: 07741020 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023

FOR

GROUNDWORKS INNOVATION LIMITED

GROUNDWORKS INNOVATION LIMITED (REGISTERED NUMBER: 07741020)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 August 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


GROUNDWORKS INNOVATION LIMITED

COMPANY INFORMATION
for the Year Ended 31 August 2023







DIRECTOR: Dr C H Sami





SECRETARY:





REGISTERED OFFICE: 2 High Street
Chobham
Surrey
GU24 8AA





REGISTERED NUMBER: 07741020 (England and Wales)





ACCOUNTANTS: Kingfisher Business Advisors Ltd
Chartered Accountants
2 High St
Chobham
Woking
Surrey
GU24 8AA

GROUNDWORKS INNOVATION LIMITED (REGISTERED NUMBER: 07741020)

BALANCE SHEET
31 August 2023

31.8.23 31.8.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 473 1,272

CURRENT ASSETS
Debtors 5 2,329 4,037
Cash at bank 36,220 32,032
38,549 36,069
CREDITORS
Amounts falling due within one year 6 14,933 14,598
NET CURRENT ASSETS 23,616 21,471
TOTAL ASSETS LESS CURRENT
LIABILITIES

24,089

22,743

PROVISIONS FOR LIABILITIES 90 242
NET ASSETS 23,999 22,501

CAPITAL AND RESERVES
Called up share capital 3 3
Retained earnings 23,996 22,498
SHAREHOLDERS' FUNDS 23,999 22,501

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 director acknowledges her 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 18 April 2024 and were signed by:





Dr C H Sami - Director


GROUNDWORKS INNOVATION LIMITED (REGISTERED NUMBER: 07741020)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 August 2023

1. STATUTORY INFORMATION

Groundworks Innovation 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 etc - 33% on cost

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - 1 ).

GROUNDWORKS INNOVATION LIMITED (REGISTERED NUMBER: 07741020)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 August 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 September 2022
and 31 August 2023 8,569
DEPRECIATION
At 1 September 2022 7,297
Charge for year 799
At 31 August 2023 8,096
NET BOOK VALUE
At 31 August 2023 473
At 31 August 2022 1,272

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Other debtors 2,329 4,037

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Taxation and social security 503 12,937
Other creditors 14,430 1,661
14,933 14,598

7. ULTIMATE CONTROLLING PARTY

The controlling party is Dr C H Sami.