2023-04-012024-03-312024-03-31false07491014WHITE GROUNDWORKS 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WHITE GROUNDWORKS LIMITED

Registered Number
07491014
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

WHITE GROUNDWORKS LIMITED
Company Information
for the year from 1 April 2023 to 31 March 2024

Director

WHITE, Martin Alan

Registered Address

11a Kimberley Park Road
Falmouth
TR11 2DA

Registered Number

07491014 (England and Wales)
WHITE GROUNDWORKS LIMITED
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets324,11544,189
Investment property4717,852717,852
741,967762,041
Current assets
Debtors55,30693,680
Cash at bank and on hand1,09862,306
6,404155,986
Creditors amounts falling due within one year6(269,168)(400,071)
Net current assets (liabilities)(262,764)(244,085)
Total assets less current liabilities479,203517,956
Creditors amounts falling due after one year7(363,761)(379,690)
Provisions for liabilities9(4,582)(8,396)
Net assets110,860129,870
Capital and reserves
Called up share capital100100
Profit and loss account110,760129,770
Shareholders' funds110,860129,870
The financial statements were approved and authorised for issue by the Director on 5 August 2024, and are signed on its behalf by:
WHITE, Martin Alan
Director
Registered Company No. 07491014
WHITE GROUNDWORKS LIMITED
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Turnover policy
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.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
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.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Plant and machinery15
Vehicles10
Investment property
The investment property is accounted for under FRS 102, Section 16 Investment Property. Investment property is remeasured to fair value at each balance sheet date with fair value gains and losses being reported in profit or loss. Investment properties are valued using RICS open market valuation on a freehold basis.
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
2.Average number of employees

20242023
Average number of employees during the year22
3.Tangible fixed assets

Plant & machinery

Vehicles

Total

£££
Cost or valuation
At 01 April 2357,62130,88688,507
Additions2,500-2,500
Disposals(26,250)-(26,250)
At 31 March 2433,87130,88664,757
Depreciation and impairment
At 01 April 2324,43819,88044,318
Charge for year2,5071,1013,608
On disposals(7,284)-(7,284)
At 31 March 2419,66120,98140,642
Net book value
At 31 March 2414,2109,90524,115
At 31 March 2333,18311,00644,189
4.Investment property

£
Fair value at 01 April 23717,852
At 31 March 24717,852
5.Debtors: amounts due within one year

2024

2023

££
Other debtors5,30693,680
Total5,30693,680
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables29137
Bank borrowings and overdrafts19,0867,872
Taxation and social security76235,278
Finance lease and HP contracts-8,892
Other creditors247,312345,912
Accrued liabilities and deferred income1,9791,980
Total269,168400,071
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts363,761373,066
Other creditors-6,624
Total363,761379,690
8.Obligations under finance leases

2024

2023

££
Finance lease and HP contracts-6,624
9.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)4,5828,396
Total4,5828,396