Company registration number: 10422820
Unaudited financial statements
for the year ended 31 March 2025
for
Ground-speed Projects Limited
Pages for filing with the Registrar
Company registration number: 10422820
Ground-speed Projects Limited
Balance sheet
as at 31 March 2025
2025 2024
Note £ £ £ £
Fixed assets
Intangible assets 4 26,000 26,000
26,000 26,000
Current assets
Cash at bank and in hand 8,300 6,263
8,300 6,263
Creditors: amounts falling due within one
year 		(4,013) (1,906)
Net current assets 4,287 4,357
Total assets less current liabilities 30,287 30,357
NET ASSETS 30,287 30,357
Capital and reserves
Called up share capital 1 1
Profit and loss account 30,286 30,356
TOTAL EQUITY 30,287 30,357
The company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies for the year ended 31 March 2025.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges their responsibilities to comply with the Companies Act 2006 in respect to accounting records and the preparation of financial statements.
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Company registration number: 10422820
Ground-speed Projects Limited
Balance sheet - continued
as at 31 March 2025
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 Profit and loss account has not been delivered to the Registrar.
Signed by:
Mr T Welbourn, Director
18 March 2025
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Ground-speed Projects Limited
Notes to the financial statements
for the year ended 31 March 2025
1 Company information
Ground-speed Projects Limited is a private company registered in England and Wales. Its registered number is 10422820. The company is limited by shares. Its registered office is Eckington Business Centre, 62 Market Street, Sheffield, South Yorkshire, S21 4JH.
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 historic cost convention.
Going concern
In preparing these financial statements, the director has assessed whether there are any material uncertainties related to events or conditions that cast significant doubt upon the company's ability to continue as a going concern. In making this assessment, the director takes into account all available information about the future which is at least 12 months from the date that the financial statements are authorised for issue.
The director considers that the company has adequate resources to continue in business for the foreseeable future and that it is appropriate to adopt the going concern basis in preparing the financial statements.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, Value Added Tax and other sales taxes.
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.
Amortisation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Goodwill -
3 Average number of employees
During the year the average number of employees was 5 (2024 - 5).
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Ground-speed Projects Limited
Notes to the financial statements - continued
for the year ended 31 March 2025
4 Intangible assets
Goodwill
£
Cost
At 1 April 2024 26,000
At 31 March 2025 26,000
Amortisation
At 31 March 2025 -
Net book value
At 31 March 2025 26,000
At 31 March 2024 26,000
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