Registered number
05262612
GA Groundworks LTD
Filleted Accounts
31 October 2023
GA Groundworks LTD
Registered number: 05262612
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 244,722 210,084
Current assets
Debtors 4 118,701 52,443
Cash at bank and in hand 208,511 214,075
327,212 266,518
Creditors: amounts falling due within one year 5 (87,950) (77,315)
Net current assets 239,262 189,203
Total assets less current liabilities 483,984 399,287
Creditors: amounts falling due after more than one year 6 (43,890) (20,876)
Net assets 440,094 378,411
Capital and reserves
Called up share capital 100 100
Profit and loss account 439,994 378,311
Shareholders' funds 440,094 378,411
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
G Bainbridge
Director
Approved by the board on 30 July 2024
GA Groundworks LTD
Notes to the Accounts
for the year ended 31 October 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 11 11
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 November 2022 376,385 228,533 604,918
Additions 113,000 - 113,000
Disposals (1,250) - (1,250)
At 31 October 2023 488,135 228,533 716,668
Depreciation
At 1 November 2022 194,292 200,542 394,834
Charge for the year 54,694 22,418 77,112
At 31 October 2023 248,986 222,960 471,946
Net book value
At 31 October 2023 239,149 5,573 244,722
At 31 October 2022 182,093 27,991 210,084
4 Debtors 2023 2022
£ £
Trade debtors 4,918 (28)
Other debtors 113,783 52,471
118,701 52,443
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 2 1
Obligations under finance lease and hire purchase contracts 39,732 39,732
Taxation and social security costs 31,835 35,693
Other creditors 16,381 1,889
87,950 77,315
6 Creditors: amounts falling due after one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts 43,890 20,876
7 Other information
GA Groundworks LTD is a private company limited by shares and incorporated in England. Its registered office is:
125 Brinkburn Crescent
Houghton-le-Spring
DH4 5HB
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