| GROUNDART LIMITED | |
| UNAUDITED FINANCIAL STATEMENTS | |
| FOR THE YEAR ENDED 31 OCTOBER 2024 | |
| Company registered number: |
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| STATEMENT OF FINANCIAL POSITION AT |
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| Note | 2024 | 2023 | |||
| £ | £ | £ | |||
| FIXED ASSETS | |||||
| Property, plant and equipment | 3 | ||||
| CURRENT ASSETS | |||||
| Debtors | 4 | ||||
| Cash at bank and in hand | |||||
| CREDITORS: Amounts falling due within one year | 5 | ||||
| NET CURRENT ASSETS | |||||
| NET ASSETS | £ |
£ |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | |||||
| Retained earnings | |||||
| SHAREHOLDERS' FUNDS | £ |
£ |
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| In approving these financial statements as director of the company I hereby confirm the following: | |||
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. | |||
| The financial statements were approved and authorised for issue by the board of directors on |
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| Signed on behalf of the board of directors | |||
| The notes on pages 2-5 form part of these financial statements | |
| page 1 | |
| GROUNDART LIMITED | |||
| NOTES TO THE ACCOUNTS | |||
| FOR THE YEAR ENDED 31 OCTOBER 2024 | |||
| 1. | SIGNIFICANT ACCOUNTING POLICIES | ||
| 1a. | Statement of compliance | |||
| Registered office: | ||||
Moor Bottom Road Holcombe Bury BL8 4NR |
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| These financial statements are the first financial statements that comply with FRS 102. The date of transition is 1 November 2023. | ||||
| Basis of accounting | ||||
| 1c. | Revenue recognition | |||
| 1d. | Borrowing costs | |||
| 1e. | Taxation | |||
| The notes on pages 2-5 form part of these financial statements | |
| page 2 | |
| GROUNDART LIMITED | |||
| NOTES TO THE ACCOUNTS (CONT.) | |||
| FOR THE YEAR ENDED 31 OCTOBER 2024 | |||
| 1. | SIGNIFICANT ACCOUNTING POLICIES (CONT.) | ||
| 1f. | Property, plant and equipment | ||
| Plant and machinery | |||
| Vehicles | |||
| Fixtures and fittings | |||
| Equipment | |||
| 1g. | Inventories | |||
| 1h. | Short term debtors and creditors | |||
| 1i. | Cash and cash equivalents | |||
| 1j. | Interest bearing borrowings | |||
| 1k. | Leased assets | |||
| The notes on pages 2-5 form part of these financial statements | |
| page 3 | |
| GROUNDART LIMITED | |||
| NOTES TO THE ACCOUNTS (CONT.) | |||
| FOR THE YEAR ENDED 31 OCTOBER 2024 | |||
| 1. | SIGNIFICANT ACCOUNTING POLICIES (CONT.) | ||
| 1l. | Foreign currencies | |||
| 1m. | Employee benefits | |||
| 1n. | Discontinued operations | |||
| 1o. | Provisions | |||
| 1p. | Judgements and key sources of estimation uncertainty | |||
| 2. | DIRECTORS AND EMPLOYEES | ||
| The average weekly number of employees during the year were as follows: | |||
| 2024 | 2023 | ||
| No. | No. | ||
| Production and sales | |||
| The notes on pages 2-5 form part of these financial statements | |
| page 4 | |
| GROUNDART LIMITED | |||
| NOTES TO THE ACCOUNTS (CONT.) | |||
| FOR THE YEAR ENDED 31 OCTOBER 2024 | |||
| 3. | PROPERTY, PLANT AND EQUIPMENT | |||
| Plant & | Fixtures & | |||
| Machinery | Equipment | Total | ||
| £ | £ | £ | ||
| Cost | ||||
| At 1 November 2023 | ||||
| At 31 October 2024 | ||||
| Depreciation | ||||
| At 1 November 2023 | ||||
| For the year | ||||
| At 31 October 2024 | ||||
| Net Book Amounts | ||||
| At 31 October 2024 | ||||
| At 31 October 2023 | ||||
| 4. | DEBTORS | 2024 | 2023 |
| £ | £ | ||
| Trade debtors | |||
| Social security and other taxes | |||
| Other debtors | |||
| £ |
£ |
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| 5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Loans | - | 1,288 | |
| Corporation tax | |||
| Other taxes and social security | |||
| Other creditors | |||
| Accruals and deferred income | |||
| £ |
£ |
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| The notes on pages 2-5 form part of these financial statements | |
| page 5 |