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Registered Number: 14817866
England and Wales

 

 

 


Unaudited Financial Statements

for the period ended 30 April 2024

for

GROUNDCORE CONTRACTORS LTD

 
 
Notes
 
2024
£
Fixed assets    
Tangible fixed assets 3 50,398 
50,398 
Current assets    
Stocks 4 13,400 
Debtors 5 2,443 
Cash at bank and in hand 1,532 
17,375 
Creditors: amount falling due within one year 6 (20,428)
Net current assets (3,053)
 
Total assets less current liabilities 47,345 
Creditors: amount falling due after more than one year 7 (29,814)
Net assets 17,531 
 

Capital and reserves
   
Called up share capital 8 100 
Profit and loss account 17,431 
Shareholder's funds 17,531 
 


For the period ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 11 June 2024 and were signed by:


-------------------------------
BURROUGHS George John
Director
1
General Information
GroundCore Contractors Ltd is a private company, limited by shares, registered in England and Wales, registration number 14817866, registration address 13 The Close, Norwich, NR1 4DS.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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 comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 20% Reducing Balance
Motor Vehicles 20% Reducing Balance
Computer Equipment 33% Straight Line
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the period was 1.
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Computer Equipment   Total
  £   £   £   £
At 20 April 2023      
Additions 26,300    29,200    527    56,027 
Disposals      
At 30 April 2024 26,300    29,200    527    56,027 
Depreciation
At 20 April 2023      
Charge for period 822    4,633    174    5,629 
On disposals      
At 30 April 2024 822    4,633    174    5,629 
Net book values
Closing balance as at 30 April 2024 25,478    24,567    353    50,398 
Opening balance as at 20 April 2023      


4.

Stocks

2024
£
Stocks 13,400 
13,400 

5.

Debtors: amounts falling due within one year

2024
£
Trade Debtors 815 
Other Debtors 1,628 
2,443 

6.

Creditors: amount falling due within one year

2024
£
Trade Creditors 11,092 
Bank Loans & Overdrafts 1,562 
PAYE & Social Security 238 
Directors' Current Accounts 11,373 
VAT Control Account (3,837)
20,428 

7.

Creditors: amount falling due after more than one year

2024
£
Obligations Under HP/Financial Leases 29,814 
29,814 

8.

Share Capital

Authorised
100 Class A shares of £1.00 each
Allotted, called up and fully paid
2024
£
100 Class A shares of £1.00 each 100 
100 

2