REGISTERED NUMBER: 07875250 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

GROUNDCOVER LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M A Mattock

Mrs S F Mattock

D Mattock

REGISTERED OFFICE:

29 Arboretum Street

Nottingham

Nottinghamshire

NG1 4JA

REGISTERED NUMBER:

07875250 (England and Wales)

ACCOUNTANTS:

Lemans

Chartered Certified Accountants

29 Arboretum Street

Nottingham

Nottinghamshire

NG1 4JA

FIXED ASSETS

Intangible assets

4

27,675

31,775

Tangible assets

5

12,190

14,488

39,865

46,263

CURRENT ASSETS

Debtors

6

1,461

4,972

Cash at bank and in hand

34,461

52,349

35,922

57,321

CREDITORS

Amounts falling due within one year

7

41,120

63,920

NET CURRENT LIABILITIES

(5,198

)

(6,599

)

TOTAL ASSETS LESS CURRENT LIABILITIES

34,667

39,664

PROVISIONS FOR LIABILITIES

3,048

3,622

NET ASSETS

31,619

36,042

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

31,519

35,942

SHAREHOLDERS' FUNDS

31,619

36,042

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 December 2025 and were signed on its behalf by:

M A Mattock - Director

1.	STATUTORY INFORMATION

Groundcover Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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

-

10% on reducing balance

Tractors and trailers

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 (2024 - 1 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

and 31 March 2025

82,000

AMORTISATION

At 1 April 2024

50,225

Amortisation for year

4,100

At 31 March 2025

54,325

NET BOOK VALUE

At 31 March 2025

27,675

At 31 March 2024

31,775

5.	TANGIBLE FIXED ASSETS

Tractors

Plant and

and

Motor

machinery

trailers

vehicles

Totals

£

£

£

£

COST

At 1 April 2024

31,877

10,689

29,601

72,167

Disposals

(2,050

)

-

-

(2,050

)

At 31 March 2025

29,827

10,689

29,601

70,117

DEPRECIATION

At 1 April 2024

19,565

9,908

28,206

57,679

Charge for year

1,573

260

465

2,298

Eliminated on disposal

(2,050

)

-

-

(2,050

)

At 31 March 2025

19,088

10,168

28,671

57,927

NET BOOK VALUE

At 31 March 2025

10,739

521

930

12,190

At 31 March 2024

12,312

781

1,395

14,488

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

553

4,656

Other debtors

908

316

1,461

4,972

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade creditors

1,530

1,771

Corporation tax

329

2,426

Directors' current accounts

37,281

57,853

Accruals and deferred income

1,980

1,870

41,120

63,920

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.25

31.3.24

value:

£

£

80

A Ordinary

£1

80

80

20

B Ordinary

£1

20

20

100

100