IRIS Accounts Production v24.3.0.553 08451383 Board of Directors 1.10.23 30.9.24 30.9.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh084513832023-09-30084513832024-09-30084513832023-10-012024-09-30084513832022-03-31084513832022-04-012023-09-30084513832023-09-3008451383ns15:EnglandWales2023-10-012024-09-3008451383ns14:PoundSterling2023-10-012024-09-3008451383ns10:Director12023-10-012024-09-3008451383ns10:PrivateLimitedCompanyLtd2023-10-012024-09-3008451383ns10:SmallEntities2023-10-012024-09-3008451383ns10:AuditExemptWithAccountantsReport2023-10-012024-09-3008451383ns10:SmallCompaniesRegimeForDirectorsReport2023-10-012024-09-3008451383ns10:SmallCompaniesRegimeForAccounts2023-10-012024-09-3008451383ns10:FullAccounts2023-10-012024-09-300845138312023-10-012024-09-3008451383ns10:Director22023-10-012024-09-3008451383ns10:Director32023-10-012024-09-3008451383ns10:RegisteredOffice2023-10-012024-09-3008451383ns5:CurrentFinancialInstruments2024-09-3008451383ns5:CurrentFinancialInstruments2023-09-3008451383ns5:ShareCapital2024-09-3008451383ns5:ShareCapital2023-09-3008451383ns5:RetainedEarningsAccumulatedLosses2024-09-3008451383ns5:RetainedEarningsAccumulatedLosses2023-09-3008451383ns5:PlantMachinery2023-10-012024-09-3008451383ns5:FurnitureFittings2023-10-012024-09-3008451383ns5:IntangibleAssetsOtherThanGoodwill2023-09-3008451383ns5:IntangibleAssetsOtherThanGoodwill2024-09-3008451383ns5:IntangibleAssetsOtherThanGoodwill2023-09-3008451383ns5:PlantMachinery2023-09-3008451383ns5:FurnitureFittings2023-09-3008451383ns5:PlantMachinery2024-09-3008451383ns5:FurnitureFittings2024-09-3008451383ns5:PlantMachinery2023-09-3008451383ns5:FurnitureFittings2023-09-3008451383ns5:WithinOneYearns5:CurrentFinancialInstruments2024-09-3008451383ns5:WithinOneYearns5:CurrentFinancialInstruments2023-09-30
REGISTERED NUMBER: 08451383 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

GROUND SOURCE CONSULT LTD

GROUND SOURCE CONSULT LTD (REGISTERED NUMBER: 08451383)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 30 September 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

GROUND SOURCE CONSULT LTD

COMPANY INFORMATION
for the year ended 30 September 2024







DIRECTORS: M Collins
J Howley
A D Howley





REGISTERED OFFICE: Linden House
Linden Close
Tunbridge Wells
Kent
TN4 8HH





REGISTERED NUMBER: 08451383 (England and Wales)





ACCOUNTANTS: BSR Bespoke Chartered Accountants
Linden House
Linden Close
Tunbridge Wells
Kent
TN4 8HH

GROUND SOURCE CONSULT LTD (REGISTERED NUMBER: 08451383)

BALANCE SHEET
30 September 2024

30.9.24 30.9.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 100 100
Tangible assets 5 1,994 2,642
2,094 2,742

CURRENT ASSETS
Debtors 6 1,934 5,668
Cash at bank 3,695 1,575
5,629 7,243
CREDITORS
Amounts falling due within one year 7 5,915 6,310
NET CURRENT (LIABILITIES)/ASSETS (286 ) 933
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,808

3,675

PROVISIONS FOR LIABILITIES 499 660
NET ASSETS 1,309 3,015

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 1,307 3,013
1,309 3,015

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

GROUND SOURCE CONSULT LTD (REGISTERED NUMBER: 08451383)

BALANCE SHEET - continued
30 September 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 12 March 2025 and were signed on its behalf by:





A D Howley - Director


GROUND SOURCE CONSULT LTD (REGISTERED NUMBER: 08451383)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30 September 2024


1. STATUTORY INFORMATION

Ground Source Consult Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Preparation of consolidated financial statements
The financial statements contain information about Ground Source Consult Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Significant judgements and estimates
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.

Turnover
Revenue is recognised when it is probable that future economic benefits will flow to the company from the provision of contracts for the sale of services and is measured as the fair value of consideration which the company expects to receive from those transactions. Revenue is recognised from the provision of services as the value of services provided is delivered to the customer. Where the normal criteria for the recognition of revenue are not met or are varied, then revenue is recognised at the point when control has passed to the customer which could be when legal title has passed to the customer or when the business has a right to payment such as on delivery or when cash payment has been made to the company.

When the outcome of a services contract can be estimated reliably, contract revenue and associated expenditure are recognised by reference to the stage of completion of the contract at the reporting date.

When the outcome of a services contract cannot be estimated reliably, contract revenue shall only be recognised to the extent of the amount of associated expenditure incurred and it is probable that the contract revenue will be recoverable.

Provision will be made for all losses arising from a services contract where it is probable that current and future contract expenditure exceeds contract revenue.

Revenue is recognised net of returns and of trade discounts and is shown exclusive of value added tax.

GROUND SOURCE CONSULT LTD (REGISTERED NUMBER: 08451383)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 September 2024


2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 25% on reducing balance

Financial instruments
The company enters into basic financial instruments that give rise to financial assets and financial liabilities including trade and other debtors, trade and other creditors, bank account balances, bank loans and other loans and borrowings and investments in certain non puttable and non convertible equity instruments.

Debt instruments which are not payable or receivable within one year are initially accounted for at the transaction price and are subsequently accounted for at amortised cost using the effective interest method. Debt instruments payable and receivable within one year are measured at their undiscounted cash amounts. Where the debt instruments are treated as a financing transaction, then the financial asset or liability is measured at the present value of future cash flows based on a market rate of interest. Debt instruments which are treated as financial assets and accounted for at amortised cost are also assessed for impairment.

Equity instruments are initially accounted for at transaction price. They are subsequently accounted for at cost unless they can be accounted for at fair value based on a readily available market price or fair value. Equity instruments which are treated as financial assets and accounted for at cost are also assessed for impairment.

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.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

GROUND SOURCE CONSULT LTD (REGISTERED NUMBER: 08451383)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 September 2024


4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 October 2023
and 30 September 2024 100
NET BOOK VALUE
At 30 September 2024 100
At 30 September 2023 100

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 October 2023
and 30 September 2024 400 23,572 23,972
DEPRECIATION
At 1 October 2023 267 21,063 21,330
Charge for year 20 628 648
At 30 September 2024 287 21,691 21,978
NET BOOK VALUE
At 30 September 2024 113 1,881 1,994
At 30 September 2023 133 2,509 2,642

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Amounts owed by group undertakings 411 1,774
Other debtors 1,523 3,894
1,934 5,668

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade creditors 3,454 4,100
Taxation and social security 459 208
Other creditors 2,002 2,002
5,915 6,310

GROUND SOURCE CONSULT LTD (REGISTERED NUMBER: 08451383)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 September 2024


8. SECURED DEBTS

A fixed and floating charge is secured over the assets of the company in relation to a bank loan taken out by Hex Energy Ltd (fellow subsidiary).

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
GROUND SOURCE CONSULT LTD


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Ground Source Consult Ltd for the year ended 30 September 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Ground Source Consult Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Ground Source Consult Ltd and state those matters that we have agreed to state to the Board of Directors of Ground Source Consult Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Ground Source Consult Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Ground Source Consult Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Ground Source Consult Ltd. You consider that Ground Source Consult Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Ground Source Consult Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






BSR Bespoke Chartered Accountants
Linden House
Linden Close
Tunbridge Wells
Kent
TN4 8HH


13 March 2025