REGISTERED NUMBER: 10439807 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST OCTOBER 2024

FOR

GROUNDWORKS360 LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Report of the Accountants

7

DIRECTORS:

M J Smith

J P Smith

REGISTERED OFFICE:

1st Floor

8 Bridle Close

Kingston-Upon-Thames

Surrey

KT1 2JW

REGISTERED NUMBER:

10439807 (England and Wales)

ACCOUNTANTS:

Goff and Company Chartered Accountants

89 Havant Road

Emsworth

Hampshire

PO10 7LF

FIXED ASSETS

Tangible assets

4

152,571

136,054

CURRENT ASSETS

Stocks

44,000

22,000

Debtors

5

293,292

153,009

Cash at bank

2,247,721

2,092,938

2,585,013

2,267,947

CREDITORS

Amounts falling due within one year

6

472,440

465,099

NET CURRENT ASSETS

2,112,573

1,802,848

TOTAL ASSETS LESS CURRENT LIABILITIES

2,265,144

1,938,902

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

2,265,143

1,938,901

SHAREHOLDERS' FUNDS

2,265,144

1,938,902

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

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

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 2nd October 2025 and were signed on its behalf by:

M J Smith - Director

1.	STATUTORY INFORMATION

Groundworks360 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.

Turnover

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

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation

Taxation for the year comprises current 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 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1st November 2023

229,555

11,783

241,338

Additions

84,500

-

84,500

Disposals

(58,000

)

-

(58,000

)

At 31st October 2024

256,055

11,783

267,838

DEPRECIATION

At 1st November 2023

95,809

9,475

105,284

Charge for year

37,710

577

38,287

Eliminated on disposal

(28,304

)

-

(28,304

)

At 31st October 2024

105,215

10,052

115,267

NET BOOK VALUE

At 31st October 2024

150,840

1,731

152,571

At 31st October 2023

133,746

2,308

136,054

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.24

31.10.23

£

£

Trade debtors

144,852

2,650

Amounts owed by participating interests

-

52,120

Other debtors

148,440

98,239

293,292

153,009

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.24

31.10.23

£

£

Hire purchase contracts

-

18,000

Trade creditors

46,919

13,934

Taxation and social security

402,617

416,155

Other creditors

22,904

17,010

472,440

465,099

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31st October 2024 and 31st October 2023:

31.10.24

31.10.23

£

£

M J Smith

Balance outstanding at start of year

60,642

20,670

Amounts advanced

50,515

86,472

Amounts repaid

(35,500

)

(46,500

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

75,657

60,642

J P Smith

Balance outstanding at start of year

-

-

Amounts advanced

70,687

-

Amounts repaid

(35,500

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

35,187

-

An HMRC approved rate of interest is being charged.

8.	ULTIMATE CONTROLLING PARTY

The controlling party is M J Smith.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31st October 2024 set out on pages three to seven and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Goff and Company Chartered Accountants

89 Havant Road

Emsworth

Hampshire

PO10 7LF

2nd October 2025