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REGISTERED NUMBER: 08091112 (England and Wales)















Financial Statements For The Year Ended 31st May 2024

for

Down To Groundworks Limited

Down To Groundworks Limited (Registered number: 08091112)






Contents of the Financial Statements
For The Year Ended 31st May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Down To Groundworks Limited

Company Information
For The Year Ended 31st May 2024







DIRECTOR: H Louw





REGISTERED OFFICE: 63 High Street
Chislehurst
Kent
BR7 5BE





REGISTERED NUMBER: 08091112 (England and Wales)





ACCOUNTANTS: Baker Britt
Chartered Accountants
63 High Street
Chislehurst
Kent
BR7 5AF

Down To Groundworks Limited (Registered number: 08091112)

Balance Sheet
31st May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 212,528 195,659

CURRENT ASSETS
Debtors 5 1,144,429 554,674
Cash at bank 114,941 396,554
1,259,370 951,228
CREDITORS
Amounts falling due within one year 6 993,787 647,209
NET CURRENT ASSETS 265,583 304,019
TOTAL ASSETS LESS CURRENT
LIABILITIES

478,111

499,678

CREDITORS
Amounts falling due after more than one
year

7

(196,895

)

(254,347

)

PROVISIONS FOR LIABILITIES (38,071 ) (28,245 )
NET ASSETS 243,145 217,086

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 243,143 217,084
SHAREHOLDERS' FUNDS 243,145 217,086

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

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

The director acknowledges his 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.

Down To Groundworks Limited (Registered number: 08091112)

Balance Sheet - continued
31st May 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 director and authorised for issue on 25th March 2025 and were signed by:





H Louw - Director


Down To Groundworks Limited (Registered number: 08091112)

Notes to the Financial Statements
For The Year Ended 31st May 2024

1. STATUTORY INFORMATION

Down To Groundworks 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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on reducing balance

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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

Down To Groundworks Limited (Registered number: 08091112)

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

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st June 2023 418,478
Additions 90,925
At 31st May 2024 509,403
DEPRECIATION
At 1st June 2023 222,819
Charge for year 74,056
At 31st May 2024 296,875
NET BOOK VALUE
At 31st May 2024 212,528
At 31st May 2023 195,659

Fixed assets, included in the above, which are held under finance leases are as follows:

Plant and
machinery
etc
£   
COST
At 1st June 2023 195,117
Additions 88,650
At 31st May 2024 283,767
DEPRECIATION
At 1st June 2023 72,370
Charge for year 52,850
At 31st May 2024 125,220
NET BOOK VALUE
At 31st May 2024 158,547
At 31st May 2023 122,747

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 819,315 458,337
Amounts recoverable on contract 61,423 65,934
Other debtors 263,691 30,403
1,144,429 554,674

Down To Groundworks Limited (Registered number: 08091112)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 96,349 98,949
Finance leases 57,664 56,372
Trade creditors 253,869 142,317
Taxation and social security 63,661 40,586
Other creditors 522,244 308,985
993,787 647,209

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 59,645 155,994
Finance leases 137,250 98,353
196,895 254,347