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Registered number: 10811419
Intelligent Groundworks Limited
Unaudited Financial Statements
For The Year Ended 30 June 2024
E Johnson & Associates Ltd
637 Green Lanes
London
N8 0RE
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 10811419
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 98,223 130,964
98,223 130,964
CURRENT ASSETS
Stocks 5 21,506 262,662
Debtors 6 319,644 547,511
Cash at bank and in hand 264,769 32,661
605,919 842,834
Creditors: Amounts Falling Due Within One Year 7 (269,830 ) (488,505 )
NET CURRENT ASSETS (LIABILITIES) 336,089 354,329
TOTAL ASSETS LESS CURRENT LIABILITIES 434,312 485,293
Creditors: Amounts Falling Due After More Than One Year 8 (59,558 ) (101,483 )
NET ASSETS 374,754 383,810
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 374,654 383,710
SHAREHOLDERS' FUNDS 374,754 383,810
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For the year ending 30 June 2024 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 his 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
Mr. N Uka
Director
15th January 2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Intelligent Groundworks Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10811419 . The registered office is 7 Bryanstone Road, Waltham Cross, EN8 7FQ.
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
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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. 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. 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:
Plant & Machinery 25% on Reducing Balance
Motor Vehicles 25% on Reducing Balance
Computer Equipment 25% on Reducing Balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 5)
2 5
4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 July 2023 23,150 220,397 813 244,360
As at 30 June 2024 23,150 220,397 813 244,360
Depreciation
As at 1 July 2023 13,021 99,706 669 113,396
Provided during the period 2,532 30,173 36 32,741
As at 30 June 2024 15,553 129,879 705 146,137
Net Book Value
As at 30 June 2024 7,597 90,518 108 98,223
As at 1 July 2023 10,129 120,691 144 130,964
5. Stocks
2024 2023
£ £
Work in progress 21,506 262,662
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6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 309,929 375,209
Other debtors 9,715 172,302
319,644 547,511
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 36,925 37,802
Trade creditors 117,292 309,703
Bank loans and overdrafts 5,000 5,000
Other creditors 64,423 94,272
Taxation and social security 46,190 41,728
269,830 488,505
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 53,725 90,650
Bank loans 5,833 10,833
59,558 101,483
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 36,925 37,802
Later than one year and not later than five years 53,725 90,650
90,650 128,452
90,650 128,452
10. Share Capital
2024 2023
Allotted, called up and fully paid £ £
100 Ordinary Shares of £ 1.00 each 100 100
11. Related Party Transactions
During the year, no dividend was paid to the director.
12. Ultimate Controlling Party
The company's ultimate controlling party is Mr N Uka by virtue of his ownership of 100% of the issued share capital in the company.
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