Registration number: 04370092

The Ground Group Limited

Contents

Balance Sheet	1 to 2
Notes to the Unaudited Financial Statements	3 to 10

The Ground Group Limited

(Registration number: 04370092)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	28,221	45,640
Investment property	5	6,429,881	5,742,131
		6,458,102	5,787,771
Current assets
Debtors	6	7,736,777	8,369,494
Cash at bank and in hand		19,752	262,862
		7,756,529	8,632,356
Creditors: Amounts falling due within one year	7	(1,298,369)	(1,730,101)
Net current assets		6,458,160	6,902,255
Total assets less current liabilities		12,916,262	12,690,026
Creditors: Amounts falling due after more than one year	7	(5,911,356)	(5,681,215)
Provisions for liabilities		(36,618)	(35,128)
Net assets		6,968,288	6,973,683
Capital and reserves
Called up share capital		2	2
Retained earnings		6,968,286	6,973,681
Shareholders' funds		6,968,288	6,973,683

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

The Ground Group Limited

(Registration number: 04370092)
Balance Sheet as at 31 December 2024

Approved and authorised by the director on 4 September 2025
 

......................................... Mr N S Griffiths Company secretary and director

The Ground Group Limited

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

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit D Xenon Park
Worcester Avenue
Wheatley
Doncaster
DN2 4NB

These financial statements were authorised for issue by the director on 4 September 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 is recognised at legal completion in respect of the total proceeds of building and
development. Turnover is measured at the fair value of consideration receivable and represents the
amount receivable for a property, net of discounts and VAT.

Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received using the accrual model.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

The Ground Group Limited

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and machinery	25% per annum on a reducing balance basis
Fixtures, fittings and equipment	25% per annum on a reducing balance basis
Motor vehicles	25% per annum on a reducing balance basis

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

The Ground Group Limited

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

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

The Ground Group Limited

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

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 4).

The Ground Group Limited

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

4	Tangible assets

	Furniture, fittings and equipment  £	Motor vehicles  £	Total £
Cost or valuation
At 1 January 2024	126,427	89,553	215,980
Disposals	-	(33,750)	(33,750)
At 31 December 2024	126,427	55,803	182,230
Depreciation
At 1 January 2024	95,993	74,347	170,340
Charge for the year	7,611	1,800	9,411
Eliminated on disposal	-	(25,742)	(25,742)
At 31 December 2024	103,604	50,405	154,009
Carrying amount
At 31 December 2024	22,823	5,398	28,221
At 31 December 2023	30,434	15,206	45,640

5	Investment properties

	2024 £
At 1 January	5,742,131
Additions	687,750
At 31 December	6,429,881

There has been no valuation of investment property by an independent valuer.

The Ground Group Limited

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

6

Debtors

	Note	2024 £	2023 £
Trade debtors		61,061	64,242
Amounts owed by related parties	9	6,807,261	7,693,404
Other debtors		828,343	570,260
Prepayments		40,112	41,588
		7,736,777	8,369,494

7

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	2023 £
Due within one year
Loans and borrowings	8	473,159	461,492
Trade creditors		78,678	71,405
Amounts owed to related parties	9	89,273	609,812
Taxation and social security		88,971	39,802
Corporation tax		455,353	373,973
Other creditors		-	114,879
Accrued expenses		112,935	58,738
		1,298,369	1,730,101

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £223,159 (2023 - £211,492).

Creditors: amounts falling due after more than one year

	Note	2024 £	2023 £
Due after one year
Loans and borrowings	8	5,911,356	5,681,215

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £5,911,356 (2023 - £5,681,215).

The Ground Group Limited

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

8	Loans and borrowings

Non-current loans and borrowings

	2024 £	2023 £
Bank borrowings	5,911,356	5,681,215

Current loans and borrowings

	2024 £	2023 £
Bank borrowings	223,159	211,492
Other borrowings	250,000	250,000
	473,159	461,492

9	Related party transactions

Loans to related parties

2024	Entities with joint control or significant influence £	Total £
At start of period	7,693,404	7,693,404
Repaid	(886,143)	(886,143)
At end of period	6,807,261	6,807,261

2023	Entities with joint control or significant influence £	Total £
At start of period	3,830,711	3,830,711
Advanced	3,862,693	3,862,693
At end of period	7,693,404	7,693,404

The Ground Group Limited

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

Loans from related parties

2024	Entities with joint control or significant influence £	Total £
At start of period	122,125	122,125
Repaid	(61,493)	(61,493)
At end of period	60,632	60,632

2023	Entities with joint control or significant influence £	Total £
At start of period	123,258	123,258
Repaid	(1,133)	(1,133)
At end of period	122,125	122,125

Terms of loans from related parties

There are no repayment terms and interest is not charged on the balances.