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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
Page
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Groundtec Developments Ltd Company Information for the year ended 30 September 2024
Director
Mr N Cohn
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
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Groundtec Developments Ltd Statement of financial position as at 30 September 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
24,633 
27,671 
Current assets
Debtors
19,760 
4,499 
Cash at bank and in hand
14,539 
328 
34,299 
4,827 
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 
Capital and reserves
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
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Groundtec Developments Ltd Notes to the Accounts for the year ended 30 September 2024
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
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:
Plant & machinery
25% RB
Motor vehicles
25% RB
Computer equipment
25% SL
Leased Assets
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.
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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 
Depreciation
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 
Net book value
At 30 September 2024
13,270 
10,538 
825 
24,633 
At 30 September 2023
19,202 
7,232 
1,237 
27,671 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
6,259 
1,280 
Other debtors
13,501 
3,219 
19,760 
4,499 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
1,847 
954 
Obligations under finance leases and hire purchase contracts
9,639 
4,712 
Trade creditors
33,418 
1,401 
Other creditors
1,466 
- 
Loans from directors
- 
5,883 
46,370 
12,950 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Obligations under finance leases and hire purchase contracts
16,625 
14,920 
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Groundtec Developments Ltd Notes to the Accounts for the year ended 30 September 2024
8
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Mr N Cohn
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).
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