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REGISTERED NUMBER: 01536198 (England and Wales)
















Unaudited Financial Statements

for the Year Ended 31st December 2024

for

Groundspark Ltd

Groundspark Ltd (Registered number: 01536198)






Contents of the Financial Statements
for the Year Ended 31st December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Groundspark Ltd

Company Information
for the Year Ended 31st December 2024







DIRECTORS: D S Jenkins
C J Hunt





REGISTERED OFFICE: Ansty House
Henfield Road
Small Dole
West Sussex
BN5 9XH





REGISTERED NUMBER: 01536198 (England and Wales)





ACCOUNTANTS: Sigma Partners
Chartered Certified Accountants
Delmon House
36-38 Church Road
Burgess Hill
West Sussex
RH15 9AE

Groundspark Ltd (Registered number: 01536198)

Balance Sheet
31st December 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Investment property 4 4,060,300 4,060,300

CURRENT ASSETS
Debtors 5 86,040 28,205
Cash at bank 992,326 880,696
1,078,366 908,901
CREDITORS
Amounts falling due within one year 6 95,425 70,431
NET CURRENT ASSETS 982,941 838,470
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,043,241

4,898,770

PROVISIONS FOR LIABILITIES 566,509 566,509
NET ASSETS 4,476,732 4,332,261

CAPITAL AND RESERVES
Called up share capital 2 2
Non distributable Fair Value gains 3,547,800 3,547,800
Retained earnings 928,930 784,459
SHAREHOLDERS' FUNDS 4,476,732 4,332,261

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 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.

Groundspark Ltd (Registered number: 01536198)

Balance Sheet - continued
31st December 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 21st May 2025 and were signed on its behalf by:





D S Jenkins - Director


Groundspark Ltd (Registered number: 01536198)

Notes to the Financial Statements
for the Year Ended 31st December 2024

1. STATUTORY INFORMATION

Groundspark 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.

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 as modified by the revaluation of certain assets.

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

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

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 1 (2023 - 1 ) .

Groundspark Ltd (Registered number: 01536198)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2024

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st January 2024
and 31st December 2024 4,060,300
NET BOOK VALUE
At 31st December 2024 4,060,300
At 31st December 2023 4,060,300

Fair value at 31st December 2024 is represented by:
£   
Valuation in 1998 569,361
Valuation in 2003 409,676
Valuation in 2013 944,312
Valuation in 2014 615,832
Valuation in 2015 251,764
Valuation in 2021 756,855
Cost 512,500
4,060,300

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 512,500 512,500

Investment property was valued on an open market basis on 19th January 2022 by Retail Insite .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 22,726 20,194
Other debtors 63,314 8,011
86,040 28,205

Groundspark Ltd (Registered number: 01536198)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 70,957 46,257
Other creditors 24,468 24,174
95,425 70,431

7. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is C J Hunt.