Acorah Software Products - Accounts Production 15.0.600 false true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 09341082 Michela Noli Michela Noli true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09341082 2022-12-31 09341082 2023-12-31 09341082 2023-01-01 2023-12-31 09341082 frs-core:CurrentFinancialInstruments 2023-12-31 09341082 frs-core:FurnitureFittings 2023-12-31 09341082 frs-core:FurnitureFittings 2023-01-01 2023-12-31 09341082 frs-core:FurnitureFittings 2022-12-31 09341082 frs-core:ShareCapital 2023-12-31 09341082 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 09341082 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 09341082 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 09341082 frs-bus:SmallEntities 2023-01-01 2023-12-31 09341082 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 09341082 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 09341082 1 2023-01-01 2023-12-31 09341082 frs-bus:Director1 2023-01-01 2023-12-31 09341082 frs-countries:EnglandWales 2023-01-01 2023-12-31 09341082 2021-12-31 09341082 2022-12-31 09341082 2022-01-01 2022-12-31 09341082 frs-core:CurrentFinancialInstruments 2022-12-31 09341082 frs-core:ShareCapital 2022-12-31 09341082 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: 09341082
Ground Trading Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2023
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—3
Page 1
Balance Sheet
Registered number: 09341082
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 652 870
652 870
CURRENT ASSETS
Debtors 5 219 174
Cash at bank and in hand 128,080 131,847
128,299 132,021
Creditors: Amounts Falling Due Within One Year 6 (55,464 ) (52,842 )
NET CURRENT ASSETS (LIABILITIES) 72,835 79,179
TOTAL ASSETS LESS CURRENT LIABILITIES 73,487 80,049
NET ASSETS 73,487 80,049
CAPITAL AND RESERVES
Called up share capital 7 1,000 1,000
Profit and Loss Account 72,487 79,049
SHAREHOLDERS' FUNDS 73,487 80,049
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Michela Noli
Director
30 August 2024
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Ground Trading Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09341082 . The registered office is 809 Salisbury House, 29 Finsbury Circus, London, England, EC2M 7AQ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Revenue is recognised to the extent that the company obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales taxes or duty. The following criteria must also be met before revenue is recognised:
Sale of goods
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer, usually on dispatch of the goods, the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Rendering of services
Revenue 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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. No depreciation is provided in the year of acquisition. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Furniture, fixtures and equipment 25% Reducing balance
2.4. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
3. Average Number of Employees
Average number of employees, including directors, during the year was as follows:
2023 2022
Sales, marketing and distribution 1 1
1 1
4. Tangible Assets
Furniture, fixtures and equipment
£
Cost
As at 1 January 2023 2,845
As at 31 December 2023 2,845
...CONTINUED
Page 2
Page 3
Depreciation
As at 1 January 2023 1,975
Provided during the period 218
As at 31 December 2023 2,193
Net Book Value
As at 31 December 2023 652
As at 1 January 2023 870
5. Debtors
2023 2022
£ £
Due within one year
VAT 219 174
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Director's loan account 55,464 52,842
7. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1,000 1,000
8. Ultimate Controlling Party
The company's ultimate controlling party is Michela Noli by virtue of the ownership of 100% of the issued share capital in the company.
Page 3