Ground Six Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 07821998

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	5		510		880
Investments	6		44,557		66,971

			45,067		67,851
CURRENT ASSETS
Debtors	7	56,023		26,633
Cash at bank and in hand		1,804		3,364

		57,827		29,997
Creditors: Amounts Falling Due Within One Year	8	(13,613 )		(25,300 )

NET CURRENT ASSETS (LIABILITIES)			44,214		4,697

TOTAL ASSETS LESS CURRENT LIABILITIES			89,281		72,548

Creditors: Amounts Falling Due After More Than One Year	9		(1,283,400 )		(1,244,472 )

NET LIABILITIES			(1,194,119 )		(1,171,924 )

CAPITAL AND RESERVES
Called up share capital	10		5,000		5,000
Profit and Loss Account			(1,199,119 )		(1,176,924 )

SHAREHOLDERS' FUNDS			(1,194,119)		(1,171,924)

Page 1

Page 2

Ground Six Limited

Balance Sheet (continued)

As At 31 December 2024

For the 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.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their 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.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr Martin Stanley

Director

10th September 2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Ground Six Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07821998 . The registered office is Spaceworks, Benton Park Road, Newcastle Upon Tyne, NE7 7LX.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Research and Development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research is recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised to ... on a straight line basis over their expected useful economic lives, which range from ... to ... years.

If it is not possible to distinguish between the research phase and the development phase of an internal project the expenditure is treated as if it were all incurred in the research phase only.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Fixtures & Fittings	15
Computer Equipment	33

3. Average Number of Employees

Average number of employees, including directors, during the year was: 2 (2023: 3)

4. Intangible Assets

	Development Costs
	£
Cost
As at 1 January 2024	670,990

As at 31 December 2024	670,990

Amortisation
As at 1 January 2024	670,990

As at 31 December 2024	670,990

Net Book Value
As at 31 December 2024	-

As at 1 January 2024	-

Page 3

Page 4

Ground Six Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

5. Tangible Assets

	Fixtures & Fittings	Computer Equipment	Total
	£	£	£
Cost
As at 1 January 2024	3,208	20,243	23,451

As at 31 December 2024	3,208	20,243	23,451

Depreciation
As at 1 January 2024	3,108	19,463	22,571
Provided during the period	84	286	370

As at 31 December 2024	3,192	19,749	22,941

Net Book Value
As at 31 December 2024	16	494	510

As at 1 January 2024	100	780	880

6. Investments

	Unlisted
	£
Cost or Valuation
As at 1 January 2024	66,971
Additions	44,557
Disposals	(66,971 )

As at 31 December 2024	44,557

Provision
As at 1 January 2024	-

As at 31 December 2024	-

Net Book Value
As at 31 December 2024	44,557

As at 1 January 2024	66,971

7. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	1,200	23,853
Prepayments and accrued income	900	2,780
Other debtors	53,923	-

	56,023	26,633

Page 4

Page 5

Ground Six Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

8. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Bank loans and overdrafts	9,046	19,059
Other taxes and social security	473	506
VAT	1,318	1,856
Credit cards	2,176	3,279
Accruals	600	600

	13,613	25,300

9. Creditors: Amounts Falling Due After More Than One Year

	2024	2023
	£	£
Other creditors (1)	1,283,400	1,244,472

10. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	5,000	5,000

Page 5