Groundwork Gallery Projects Limited 14013965 false 2024-04-01 2025-03-31 2025-03-31 The principal activity of the company is cultural education Digita Accounts Production Advanced 6.30.9574.0 true 14013965 2024-04-01 2025-03-31 14013965 2025-03-31 14013965 core:CurrentFinancialInstruments core:WithinOneYear 2025-03-31 14013965 bus:SmallEntities 2024-04-01 2025-03-31 14013965 bus:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 14013965 bus:FilletedAccounts 2024-04-01 2025-03-31 14013965 bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 14013965 bus:RegisteredOffice 2024-04-01 2025-03-31 14013965 bus:Director1 2024-04-01 2025-03-31 14013965 bus:Director2 2024-04-01 2025-03-31 14013965 bus:Director3 2024-04-01 2025-03-31 14013965 bus:CompanyLimitedByGuarantee 2024-04-01 2025-03-31 14013965 bus:Agent1 2024-04-01 2025-03-31 14013965 countries:England 2024-04-01 2025-03-31 iso4217:GBP xbrli:pure

Registration number: 14013965

Groundwork Gallery Projects Limited

(A company limited by guarantee)

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2025

 

Groundwork Gallery Projects Limited

Contents

Company Information

1

Statement of financial position

2

Notes to the Unaudited Financial Statements

3 to 4

 

Groundwork Gallery Projects Limited

Company Information

Directors

Mrs Veronica Sekules

Mr Roy Alexander Brooks

Dr Carolyn Williams

Registered office

19 King Street
King's Lynn
Norfolk
PE30 1HB

Accountants

Hayhow & Co
Chartered Certified Accountants & Business Advisers19 King Street
King's Lynn
Norfolk
PE30 1HB

 

Groundwork Gallery Projects Limited

(Registration number: 14013965)
Statement of financial position as at 31 March 2025

Note

2025
£

Current assets

 

Cash at bank and in hand

 

5,128

Creditors: Amounts falling due within one year

4

(5,128)

Net assets/(liabilities)

 

-

Reserves

 

Surplus/(deficit)

 

-

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of comprehensive income.

Approved and authorised by the Board on 12 June 2025 and signed on its behalf by:
 

.........................................
Mrs Veronica Sekules
Director

 

Groundwork Gallery Projects Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1

General information

The company is a company limited by guarantee, incorporated in England, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £10 towards the assets of the company in the event of liquidation.

The address of its registered office is:
19 King Street
King's Lynn
Norfolk
PE30 1HB

These financial statements were authorised for issue by the Board on 12 June 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Groundwork Gallery Projects Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3.

4

Creditors

Creditors: amounts falling due within one year

2025
£

Due within one year

Accruals and deferred income

540

Other creditors

4,588

5,128