Company Registration No. 14372576 (England and Wales)
Groundtec Developments Ltd
Unaudited accounts
for the year ended 30 September 2024
Groundtec Developments Ltd
Unaudited accounts
Contents
Groundtec Developments Ltd
Company Information
for the year ended 30 September 2024
Company Number
14372576 (England and Wales)
Registered Office
4 Lynford Road
Mundford
Thetford
IP26 5HN
England
Accountants
Worthwhile Accountancy
Farthingworth
4 Lynford Road
Mundford
Norfolk
IP26 5HN
Groundtec Developments Ltd
Statement of financial position
as at 30 September 2024
Tangible assets
24,633
27,671
Cash at bank and in hand
14,539
328
Creditors: amounts falling due within one year
(46,370)
(12,950)
Net current liabilities
(12,071)
(8,123)
Total assets less current liabilities
12,562
19,548
Creditors: amounts falling due after more than one year
(16,625)
(14,920)
Net (liabilities)/assets
(4,063)
4,628
Called up share capital
100
100
Profit and loss account
(4,163)
4,528
Shareholders' funds
(4,063)
4,628
For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 9 April 2025 and were signed on its behalf by
Mr N Cohn
Director
Company Registration No. 14372576
Groundtec Developments Ltd
Notes to the Accounts
for the year ended 30 September 2024
Groundtec Developments Ltd is a private company, limited by shares, registered in England and Wales, registration number 14372576. The registered office is 4 Lynford Road, Mundford, Thetford, IP26 5HN, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Groundtec Developments Ltd
Notes to the Accounts
for the year ended 30 September 2024
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 October 2023
25,603
9,643
1,649
36,895
Additions
625
13,750
-
14,375
Disposals
-
(9,192)
-
(9,192)
At 30 September 2024
26,228
14,201
1,649
42,078
At 1 October 2023
6,401
2,411
412
9,224
Charge for the year
6,557
3,550
412
10,519
On disposals
-
(2,298)
-
(2,298)
At 30 September 2024
12,958
3,663
824
17,445
At 30 September 2024
13,270
10,538
825
24,633
At 30 September 2023
19,202
7,232
1,237
27,671
Amounts falling due within one year
Other debtors
13,501
3,219
6
Creditors: amounts falling due within one year
2024
2023
Obligations under finance leases and hire purchase contracts
9,639
4,712
Trade creditors
33,418
1,401
Loans from directors
-
5,883
7
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
16,625
14,920
Groundtec Developments Ltd
Notes to the Accounts
for the year ended 30 September 2024
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Balance B/fwd
5,883
-
-
5,883
Repaid during year
-
-
5,883
(5,883)
Advanced during year
-
(10,694)
-
(10,694)
5,883
(10,694)
5,883
(10,694)
Advances to the director in the year are repayable on demand and interest free.
9
Average number of employees
During the year the average number of employees was 2 (2023: 2).