01 May 2023 30 April 2024 No principle activity is included 01339901 2023-05-01 01339901 2024-04-30 01339901 2023-05-01 2024-04-30 01339901 2023-04-30 01339901 2022-05-01 2023-04-30 01339901 uk-core:WithinOneYear 2024-04-30 01339901 uk-core:WithinOneYear 2023-04-30 01339901 uk-core:AfterOneYear 2024-04-30 01339901 uk-core:AfterOneYear 2023-04-30 01339901 uk-core:ShareCapital 2024-04-30 01339901 uk-core:ShareCapital 2023-04-30 01339901 uk-core:RevaluationReserve 2024-04-30 01339901 uk-core:RevaluationReserve 2023-04-30 01339901 uk-core:RetainedEarningsAccumulatedLosses 2024-04-30 01339901 uk-core:RetainedEarningsAccumulatedLosses 2023-04-30 01339901 uk-bus:Director1 2023-05-01 2024-04-30 01339901 uk-bus:RegisteredOffice 2023-05-01 2024-04-30 01339901 uk-curr:PoundSterling 2023-05-01 2024-04-30 01339901 uk-core:PlantMachinery 2023-05-01 2024-04-30 01339901 uk-core:Vehicles 2023-05-01 2024-04-30 01339901 uk-core:FurnitureFittings 2023-05-01 2024-04-30 01339901 uk-core:OfficeEquipment 2023-05-01 2024-04-30 01339901 uk-core:VehiclesPlantMachinery 2023-04-30 01339901 uk-core:FurnitureFittingsToolsEquipment 2023-04-30 01339901 uk-core:VehiclesPlantMachinery 2023-05-01 2024-04-30 01339901 uk-core:FurnitureFittingsToolsEquipment 2023-05-01 2024-04-30 01339901 uk-core:VehiclesPlantMachinery 2024-04-30 01339901 uk-core:FurnitureFittingsToolsEquipment 2024-04-30 01339901 uk-core:Non-currentFinancialInstruments uk-core:CostValuation 2023-04-30 01339901 uk-core:Non-currentFinancialInstruments uk-core:CostValuation 2024-04-30 01339901 uk-core:Non-currentFinancialInstruments uk-core:ProvisionsForImpairmentInvestments 2024-04-30 01339901 uk-core:Non-currentFinancialInstruments 2024-04-30 01339901 uk-core:Non-currentFinancialInstruments 2023-04-30 01339901 uk-core:WithinOneYear 2023-05-01 2024-04-30 01339901 uk-core:BetweenOneTwoYears 2024-04-30 01339901 uk-core:BetweenOneTwoYears 2023-04-30 01339901 uk-core:BetweenTwoFiveYears 2024-04-30 01339901 uk-core:BetweenTwoFiveYears 2023-04-30 01339901 uk-bus:FRS102 2023-05-01 2024-04-30 01339901 uk-bus:FullAccounts 2023-05-01 2024-04-30 01339901 uk-bus:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 01339901 uk-bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 iso4217:GBP xbrli:pure
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
  GROUNDWORK LANDSCAPES LIMITED
   
   
   
  UNAUDITED FINANCIAL STATEMENTS
   
   
  FOR THE YEAR ENDED 30 APRIL 2024
   
   
   
   
   
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
  GROUNDWORK LANDSCAPES LIMITED
  Company registered number: 01339901
  STATEMENT OF FINANCIAL POSITION AT 30 April 2024
    Note 2024 2023
      £ £ £
  FIXED ASSETS
  Property, plant and equipment 3 287,637 347,196
  Investments held as fixed assets 4 16,739 16,739
      304,376 363,935
  CURRENT ASSETS    
  Inventories   202,229 191,774
  Debtors 5 351,179 673,698
  Cash at bank and in hand   165,855 297,768
      719,263 1,163,240
  CREDITORS: Amounts falling due within one year 6 427,059 472,193
  NET CURRENT ASSETS   292,204 691,047
  TOTAL ASSETS LESS CURRENT LIABILITIES   596,580 1,054,982
           
  CREDITORS: Amounts falling due after more than one year 7 (16,691) (50,897)
           
  PROVISIONS FOR LIABILITIES   (20,635) (20,635)
  NET ASSETS   £559,254 £983,450
  CAPITAL AND RESERVES    
  Called up share capital   20,000 20,000
  Revaluation reserve   89,919 89,919
  Retained earnings   449,335 873,531
  SHAREHOLDERS' FUNDS   £559,254 £983,450
       
  In approving these financial statements as directors of the company we hereby confirm the following:
       
  For the year in question the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
       
  The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with section 476 of the Companies Act 2006.
       
  The directors acknowledge their responsibilities for: 1) ensuring that the company keeps accounting records which comply with Sections 386 and 386 of the Companies Act 2006, and 2) preparing financial statements that give a true and fair view of the state of affairs of the company at at the end of each financial year and of its profit or loss for the 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 the financial statements, so far as they are applicable to the company.
 
 
  These financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies
       
  In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
  The financial statements were approved and authorised for issue by the board of directors on 25 November 2024
  Signed on behalf of the board of directors
       
  Mrs M J Richardson, Director
       
  The notes on pages 2-7 form part of these financial statements
  page 1
  NOTES TO THE ACCOUNTS
  FOR THE YEAR ENDED 30 APRIL 2024
       
 
1. SIGNIFICANT ACCOUNTING POLICIES
       
         
1a. Statement of compliance
         
  Groundwork Landscapes Limited is a private Limited company incorporated in England.
         
         
  Registered office:
  Top of Th' Moor Farm
Moor Bottom Road
Holcombe
Bury
BL8 4NR
  These financial statements are the first financial statements that comply with FRS 102. The date of transition is 1 May 2023.
         
  The transition to FRS 102 has resulted in a small number of changes in accounting policies to those used previously. The nature of these changes and their impact on opening equity and profit for the comparative period are explained in notes and below. These financial statements have been prepared in accordance with the provisions of Section 1A of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
         
 
         
  Basis of accounting
         
 
  The financial statements have been prepared under the historical cost convention. The presentation currency is £ sterling.
         
1c. Revenue recognition
         
  Income is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
         
1d. Borrowing costs
         
  Borrowing costs directly attributable to the acquisition, construction or production of qualifying assets, which are assets that necessarily take a substantial period of time to get ready for their intended use or sale, are added to the cost of those assets, until such time as the assets are substantially ready for their intended use or sale. Investment income earned on the temporary investment of specific borrowings pending their expenditure on qualifying assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
         
 
  The notes on pages 2-7 form part of these financial statements
  page 2
  NOTES TO THE ACCOUNTS (CONT.)
  FOR THE YEAR ENDED 30 APRIL 2024
       
 
1. SIGNIFICANT ACCOUNTING POLICIES (CONT.)
         
1e. Taxation
         
  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 temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary 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. The measurement of deferred tax liabilities and assets reflects 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 relate 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.
         
 
         
 
       
1f. Property, plant and equipment
       
  Depreciation is provided, after taking account of any grants receivable, at the following annual rates in order to write off each asset over its estimated useful life.
       
  Plant and machinery Reducing balance 20%  
  Vehicles Reducing balance 20%  
  Fixtures and fittings Reducing balance 20%  
  Equipment Reducing balance 20%  
         
1g. Inventories
         
  Stocks are stated at the lower of cost and net realisable value. Cost includes all costs incurred in bringing each product to its present location and condition.
         
         
1h. Short term debtors and creditors
         
  Debtors and creditors receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in profit and loss.
         
         
1i. Cash and cash equivalents
         
  Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. For the purpose of statement of cash flows, bank overdrafts which are repayable on demand form an integral part of the Company's cash management are included as a component of cash and cash equivalents.
         
 
  The notes on pages 2-7 form part of these financial statements
  page 3
  NOTES TO THE ACCOUNTS (CONT.)
  FOR THE YEAR ENDED 30 APRIL 2024
       
 
1. SIGNIFICANT ACCOUNTING POLICIES (CONT.)
         
1j. Interest bearing borrowings
         
  All interest-bearing loans and borrowings which are basic financial instruments are initially recognised at the present value of cash payable to the bank (including interest). After initial recognition they are measured at amortised cost using the effective interest rate method, less impairment. Any difference between the amount initially recognised and redemption value is recognised in profit and loss together with any interest and fees payable.
         
         
1k. Leased assets
         
  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 are capitalised in the balance sheet and are depreciated over the shorter of the lease term and the asset's useful life. A corresponding liability is recognised for the lower of the fair value of the leased asset and the present value of the minimum lease payments in the balance sheet. Lease payments are apportioned between the reduction of the lease liability and finance charges in the income statement so as to achieve a constant rate of interest on the remaining balance of the liability. Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term. Lease incentives are recognised over the lease term on a straight line basis.
         
 
         
         
1l. Foreign currencies
         
  Transactions in foreign currencies are initially recorded in the entity’s functional currency by applying the spot exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account.
         
         
1m. Employee benefits
         
  The obligations for contributions to defined contribution scheme are recognised as an expense as incurred. The assets of the scheme are held separately from those of the Company in an independent administered fund.
         
         
1n. Discontinued operations
         
  A discontinued operation is a component of the Company's business, the operations and cash flows of which can be clearly distinguished from the rest of the Company and which represents a separate major line of business or geographical area of operations, or is part of a signal coordinated disposal of a separate major line of business or geographical area of operations, or is a subsidiary acquired exclusively with a review to resale.
         
         
1o. Provisions
         
  Provisions are recognised when the Company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
         
  The notes on pages 2-7 form part of these financial statements
  page 4
  NOTES TO THE ACCOUNTS (CONT.)
  FOR THE YEAR ENDED 30 APRIL 2024
       
 
1. SIGNIFICANT ACCOUNTING POLICIES (CONT.)
         
1p. Judgements and key sources of estimation uncertainty
         
  In the application of the Company's accounting policies, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below:
         
 
         
 
         
       
       
2. DIRECTORS AND EMPLOYEES
       
  The average weekly number of employees during the year were as follows:
    2024 2023
    No. No.
  Production and sales 18 18
   
         
3. PROPERTY, PLANT AND EQUIPMENT
    Plant & Fixtures &  
    Machinery Equipment Total
    £ £ £
  Cost
         
  At 1 May 2023 644,081 535,355 1,179,436
  Additions other than through business combinations 18,750 23,600 42,350
         
  Disposals (24,000) (6,000) (30,000)
  At 30 April 2024 638,831 552,955 1,191,786
   
  Depreciation
         
  At 1 May 2023 404,989 427,251 832,240
  For the year 46,769 25,140 71,909
  At 30 April 2024 451,758 452,391 904,149
   
  Net Book Amounts
         
  At 30 April 2024 187,073 100,564 287,637
  At 30 April 2023 239,092 108,104 347,196
   
  The notes on pages 2-7 form part of these financial statements
  page 5
  NOTES TO THE ACCOUNTS (CONT.)
  FOR THE YEAR ENDED 30 APRIL 2024
       
       
4. INVESTMENTS HELD AS FIXED ASSETS
       
    Loans to  
    group  
    undertakings Total
    £ £
  Cost or valuation
       
  At 1 May 2023 16,739 16,739
  At 30 April 2024 16,739 16,739
   
  Amounts written off
       
  At 30 April 2024 - -
   
  Net Book Amounts
       
  At 30 April 2024 16,739 16,739
  At 30 April 2023 16,739 16,739
   
       
       
5. DEBTORS 2024 2023
    £ £
  Amounts falling due within one year:
  Trade debtors 173,872 545,998
  UK Corporation tax - 15,501
  Other debtors 79,754 112,199
    £253,626 £673,698
  Amounts falling due after more than one year:
  Trade debtors 97,553 -
    £97,553 £-
   
       
       
6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
    2024 2023
    £ £
  Bank loans and overdrafts 4,579 43,366
  Finance leases and hire purchase contracts 31,183 6,222
  Trade creditors 206,859 227,988
  Other taxes and social security 137,297 103,549
  Other creditors 2,481 1,481
  Accruals and deferred income 44,660 89,587
    £427,059 £472,193
   
 
  The notes on pages 2-7 form part of these financial statements
  page 6
  NOTES TO THE ACCOUNTS (CONT.)
  FOR THE YEAR ENDED 30 APRIL 2024
       
       
7. CREDITORS: AMOUNTS FALLING DUE AFTER ONE YEAR
    2024 2023
    £ £
  Bank loans and overdrafts 16,691 50,897
    £16,691 £50,897
   
       
       
  Analysis of borrowings:
       
  Due within five years:
  within 1 year
  bank 4,579 43,366
  leases 31,183 6,222
  within 1-2 years
  bank 16,691 -
  within 2-5 years
  bank - 50,897
    £52,453 £100,485
   
  The notes on pages 2-7 form part of these financial statements
  page 7