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REGISTERED NUMBER: 12534363 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

GROUNDED PACKAGING (UK) LIMITED

GROUNDED PACKAGING (UK) LIMITED (REGISTERED NUMBER: 12534363)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GROUNDED PACKAGING (UK) LIMITED

COMPANY INFORMATION
for the Year Ended 31 March 2024







DIRECTORS: B Grant
J Kempton





REGISTERED OFFICE: 10 John Street
London
WC1N 2EB





REGISTERED NUMBER: 12534363 (England and Wales)





ACCOUNTANTS: Oury Clark Chartered Accountants
Herschel House
58 Herschel Street
Slough
Berkshire
SL1 1PG

GROUNDED PACKAGING (UK) LIMITED (REGISTERED NUMBER: 12534363)

BALANCE SHEET
31 March 2024

31.3.24 31.3.23
Notes £    £   
CURRENT ASSETS
Stocks 81,611 5,459
Debtors 4 304,945 157,622
Cash at bank 3,359 137
389,915 163,218
CREDITORS
Amounts falling due within one year 5 1,270,670 93,192
NET CURRENT (LIABILITIES)/ASSETS (880,755 ) 70,026
TOTAL ASSETS LESS CURRENT
LIABILITIES

(880,755

)

70,026

CREDITORS
Amounts falling due after more than one
year

6

-

153,365
NET LIABILITIES (880,755 ) (83,339 )

CAPITAL AND RESERVES
Called up share capital 8 100 100
Other reserves 9 4,579 -
Retained earnings 9 (885,434 ) (83,439 )
SHAREHOLDERS' FUNDS (880,755 ) (83,339 )

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.

GROUNDED PACKAGING (UK) LIMITED (REGISTERED NUMBER: 12534363)

BALANCE SHEET - continued
31 March 2024


The 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 March 2025 and were signed on its behalf by:





B Grant - Director


GROUNDED PACKAGING (UK) LIMITED (REGISTERED NUMBER: 12534363)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Grounded Packaging (Uk) 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.

The directors of the entity's parent company, Grounded Investments Limited, have provided a commitment to provide any financial support which may be necessary in order that the company can meet its liabilities, as they fall due, for a period in excess of 12 months and 1 day from the date of the approval of these financial statements. As a result of this commitment the directors have continued to adopt the going concern basis in preparing these financial statements.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue is recognised once production is completed for customised orders, and when goods are delivered for stock held. Both of these are when the risks and rewards are transferred to the customer.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences have been fully amortised in the current year.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Basic Financial Instruments as covered by Section 11 of FRS 102 are measured at amortised cost. The company does not have any Other Financial Instruments as covered by Section 12 of FRS 102.

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.


GROUNDED PACKAGING (UK) LIMITED (REGISTERED NUMBER: 12534363)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

Foreign currencies
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 of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Share based payments
Equity-settled transactions are awards of shares, or options over shares, that are provided to employees in exchange for the rendering of services.

The cost of equity-settled transactions is measured at fair value on grant date. The fair value is estimated at the date of grant using a Black-Scholes option-pricing model. This fair value is based on the fair value of the underlying share, the exercise price, the risk free rate, the expected life of the option, the expected dividend yield and the volatility. Assumptions have been used in determining the fair value of the underlying share, the risk free rate, the expected life of the option, the dividend yield and the volatility.

The cost of equity-settled transactions is recognised as an expense with a corresponding increase in equity over the vesting period. The cumulative charge to the income statement is calculated based on the grant date fair value of the award, the best estimate of the number of awards that are likely to vest and the expired portion of the vesting period. The amounts recognised in the income statement for the period is the cumulative amount calculated at each reporting date less amounts already recognised in previous periods.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 1 ) .

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 249,953 118,492
Amounts owed by group undertakings 100 102
Other debtors 54,892 39,028
304,945 157,622

GROUNDED PACKAGING (UK) LIMITED (REGISTERED NUMBER: 12534363)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 170,162 15,066
Amounts owed to group undertakings 1,022,101 -
Taxation and social security 26,726 961
Other creditors & accruals 51,681 77,165
1,270,670 93,192

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Amounts owed to group undertakings - 153,365

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.3.24 31.3.23
£    £   
Within one year 18,000 2,697

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
10,000 Ordinary £0.01 100 100

9. RESERVES
Retained Other
earnings reserves Totals
£    £    £   

At 1 April 2023 (83,439 ) - (83,439 )
Deficit for the year (801,995 ) (801,995 )
Share option expenses - 4,579 4,579
At 31 March 2024 (885,434 ) 4,579 (880,855 )

Other reserves relates to accumulated share option charges.

10. ULTIMATE CONTROLLING PARTY

The parent and ultimate parent company is Grounded Investments Limited, a company registered in New Zealand at Level 1/656 Great South Road, Ellerslie, Auckland 1051. The directors believe there is no ultimate controlling party.