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REGISTERED NUMBER: 02871169 (England and Wales)















Groundwork Pride Limited

Report of the Directors and

Unaudited Financial Statements For The Year Ended 31 March 2024






Groundwork Pride Limited (Registered number: 02871169)






Contents of the Financial Statements
For The Year Ended 31 March 2024




Page

Company Information 1

Report of the Directors 2

Income Statement 3

Balance Sheet 4

Notes to the Financial Statements 5


Groundwork Pride Limited

Company Information
For The Year Ended 31 March 2024







DIRECTORS: P Cooper
D Queenan
F J Lawrence
G Williams
D Reynolds



SECRETARY: S J Munro



REGISTERED OFFICE: Environment & Business Centre
Merlyn-Rees Avenue
Morley
LEEDS
West Yorkshire
LS27 9SL



REGISTERED NUMBER: 02871169 (England and Wales)



ACCOUNTANTS: Kingswood Allotts Limited
Chartered Accountants
Sidings Court
Lakeside
Doncaster
South Yorkshire
DN4 5NU



BANKERS: The Co-operative Bank
Wakefield
WF1 3BG

Groundwork Pride Limited (Registered number: 02871169)

Report of the Directors
For The Year Ended 31 March 2024

The directors present their report with the financial statements of the company for the year ended 31 March 2024.

REVIEW OF BUSINESS
RESULTS FOR THE YEAR
A profit of £15,006 prior to gift aid donation (2023: £37,205) was made on turnover of £851,897 (2023: £988,703). The profit before the application of the Group's Management Charge was £105,006 (2023: £89,727).

REVIEW OF BUSINESS
GPL is a wholly owned subsidiary of Groundwork Yorkshire (a limited company 22022681 and registered charity 519846).

In the period under review, GPL further developed its forward order book, securing over £1m of work for future periods with a target client ratio of 30% small/medium landscaping work; 40% housing developer related and 30% design build work developed and delivered in partnership. We are achieving a better than 50% tender success rate on our bid for work with ongoing positive client feedback - essential for our very competitive market place.

Our specific projects range from garden and public open space creation in areas of new housing to the delivery of technically demanding landscapes in commercial, public and private spaces. Projects completed in the past twelve months include hard and soft landscaping projects with values from £5,000 to £500,000.

Whilst GPL is not directly involved in the provision of charitable services, it works closely with the Trust and its contribution to the success of the Trust is more than simply the gift aiding of annual surplus. By delivering quality environmental service, GPL actively promotes the aims of its parent Trust and the national Groundwork network, often in areas and with partners who are not familiar with the work of Groundwork.

Whilst we have a clear focus on more commercial opportunities, our trading company remains important to the delivery of Groundwork's wider strategy in Yorkshire and the Humber, a process which brings added benefit as overhead costs are shared and staff gain greater and wider experience. Both locally and nationally the Federation of Groundwork Trusts has also initiated a process of change and has renewed its overall strategy whilst introducing a new partnership agreement for member trusts. This process of change means that our work and development activity is being more closely aligned with that of fellow Groundwork Trusts. This has led to a number of interesting and useful developments already, including the shared development of design services with our colleagues in the North East which has the potential to expand the work of GPL further.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 April 2023 to the date of this report.

P Cooper
D Queenan
F J Lawrence
G Williams

Other changes in directors holding office are as follows:

D Reynolds was appointed as a director after 31 March 2024 but prior to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





P Cooper - Director


26 September 2024

Groundwork Pride Limited (Registered number: 02871169)

Income Statement
For The Year Ended 31 March 2024

2024 2023
£    £   

TURNOVER 851,879 988,703

Cost of sales 604,310 742,832
GROSS PROFIT 247,569 245,871

Administrative expenses 227,060 201,314
20,509 44,557

Other operating income 280 170
OPERATING PROFIT 20,789 44,727


Interest payable and similar expenses 5,783 7,522
PROFIT BEFORE TAXATION 15,006 37,205

Tax on profit - -
PROFIT FOR THE FINANCIAL YEAR 15,006 37,205

Groundwork Pride Limited (Registered number: 02871169)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 9,140 11,862

CURRENT ASSETS
Debtors 5 336,723 453,987
Cash at bank 15,077 4,012
351,800 457,999
CREDITORS
Amounts falling due within one year 6 329,234 436,160
NET CURRENT ASSETS 22,566 21,839
TOTAL ASSETS LESS CURRENT LIABILITIES 31,706 33,701

CREDITORS
Amounts falling due after more than one year 7 209,676 226,677
NET LIABILITIES (177,970 ) (192,976 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (178,070 ) (193,076 )
SHAREHOLDERS' FUNDS (177,970 ) (192,976 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 26 September 2024 and were signed on its behalf by:





P Cooper - Director


Groundwork Pride Limited (Registered number: 02871169)

Notes to the Financial Statements
For The Year Ended 31 March 2024

1. STATUTORY INFORMATION

Groundwork Pride 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.

These accounts have been prepared on the going concern basis on the assumption that the parent company, Groundwork Yorkshire Limited, will continue to support its operations. Groundwork Yorkshire Limited has incurred repeated group deficits on unrestricted funds and group net current liabilities on unrestricted funds. Details of Groundwork Yorkshire Limited's plans to address the deficit of funds can be found in note 1 of its accounts. These plans include a merger with Groundwork North Yorkshire and The Leeds Groundwork Trust and the acquisition of part of the business of Groundwork South Yorkshire. This merger to form Groundwork Yorkshire Limited will improve efficiency so enhance the ability of the group to support its subsidiaries.

Based on the above considerations the Board considers it remains appropriate to prepare the accounts on a going concern basis.

Turnover
Turnover represents revenue recognised by the company in respect of goods and services supplied, exclusive of Value Added Tax and trade discounts. Revenue is recognised when work is performed. Any excess of sales invoiced over revenue recognised is included as deferred income within other creditors, and any deficit as accrued income within other debtors.

Tangible fixed assets
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the costs of fixed assets, less their estimated residual value over their expected useful lives on the following bases:

Plant & machinery - over 5 years straight line
Fixtures & fittings - over 3-5 years straight line

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

Pension costs
The company makes contributions to the West Yorkshire Pension Scheme, a multi-employer defined benefit pension scheme. This company's share of the scheme cannot be separately identified and therefore, in accordance with FRS102 the contributions have have been accounted for as defined contribution pension scheme. Within the accounts of the parent company the pension scheme has been accounted for as a defined benefit scheme as the group's share of the scheme can be identified. The pension charge represents contributions payable by the company to the scheme.

Government grants
The company has adopted the performance model.

Government revenue grants towards current expenditure are recognised in the period the expenditure is incurred.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 13 ) .

Groundwork Pride Limited (Registered number: 02871169)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 18,164 28,475 46,639
DEPRECIATION
At 1 April 2023 12,465 22,312 34,777
Charge for year 1,723 999 2,722
At 31 March 2024 14,188 23,311 37,499
NET BOOK VALUE
At 31 March 2024 3,976 5,164 9,140
At 31 March 2023 5,699 6,163 11,862

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 194,224 290,409
Other debtors 142,499 163,578
336,723 453,987

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 84,500 121,310
Amounts owed to group undertakings 89,284 74,630
Taxation and social security 10,206 5,853
Other creditors 145,244 234,367
329,234 436,160

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Amounts owed to group undertakings 137,381 148,599
Other creditors 72,295 78,078
209,676 226,677

The above includes £141,099 (2023: £158,330) payable in instalments due after more than five years.

8. OTHER FINANCIAL COMMITMENTS

Financial commitments at the year-end were £1,794 (2023: £8,970).

Groundwork Pride Limited (Registered number: 02871169)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2024

9. RELATED PARTY DISCLOSURES

The company donates profits to the controlling charities based on the work performed in their operational areas. Donations to be paid for the year are £nil (2023: £nil).

The company entered transactions not under normal market conditions with its shareholders as follows:


Sales £369,494 (2023: £243,479)
Purchases £34,793 (2023: £50,340)
Debtors £109,017 (2023: £112,135)
Creditors £373,790 (2023: £331,238)

10. ULTIMATE CONTROLLING PARTY

The company is controlled by Groundwork Yorkshire Limited as the majority shareholder. The registered office of Groundwork Yorkshire Limited is Environment & Business Centre, Merlyn-Rees Avenue, Morley, Leeds, LS27 9SL.

The company is consolidated in the group accounts prepared by its parent Groundwork Yorkshire Limited which are available from Companies House.