IRIS Accounts Production v26.1.10.61 SC258485 Board of Directors 1.3.25 28.2.26 28.2.26 false true false false true false Fair value model iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure utr:tonnes utr:kWh SC258485 2025-02-28 SC258485 2026-02-28 SC258485 2025-03-01 2026-02-28 SC258485 2024-02-29 SC258485 2024-03-01 2025-02-28 SC258485 2025-02-28 SC258485 ns15:Scotland 2025-03-01 2026-02-28 SC258485 ns14:PoundSterling 2025-03-01 2026-02-28 SC258485 ns10:Director1 2025-03-01 2026-02-28 SC258485 ns10:PrivateLimitedCompanyLtd 2025-03-01 2026-02-28 SC258485 ns10:SmallEntities 2025-03-01 2026-02-28 SC258485 ns10:AuditExempt-NoAccountantsReport 2025-03-01 2026-02-28 SC258485 ns10:SmallCompaniesRegimeForDirectorsReport 2025-03-01 2026-02-28 SC258485 ns10:SmallCompaniesRegimeForAccounts 2025-03-01 2026-02-28 SC258485 ns10:FullAccounts 2025-03-01 2026-02-28 SC258485 ns10:Director2 2025-03-01 2026-02-28 SC258485 ns10:Director3 2025-03-01 2026-02-28 SC258485 ns10:CompanySecretary1 2025-03-01 2026-02-28 SC258485 ns10:RegisteredOffice 2025-03-01 2026-02-28 SC258485 ns5:CurrentFinancialInstruments 2026-02-28 SC258485 ns5:CurrentFinancialInstruments 2025-02-28 SC258485 ns5:ShareCapital 2026-02-28 SC258485 ns5:ShareCapital 2025-02-28 SC258485 ns5:SharePremium 2026-02-28 SC258485 ns5:SharePremium 2025-02-28 SC258485 ns5:CapitalRedemptionReserve 2026-02-28 SC258485 ns5:CapitalRedemptionReserve 2025-02-28 SC258485 ns5:RetainedEarningsAccumulatedLosses 2026-02-28 SC258485 ns5:RetainedEarningsAccumulatedLosses 2025-02-28 SC258485 ns5:MotorVehicles 2025-03-01 2026-02-28 SC258485 ns5:ComputerEquipment 2025-03-01 2026-02-28 SC258485 ns5:PlantMachinery 2025-02-28 SC258485 ns5:PlantMachinery 2025-03-01 2026-02-28 SC258485 ns5:PlantMachinery 2026-02-28 SC258485 ns5:PlantMachinery 2025-02-28 SC258485 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2026-02-28 SC258485 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2025-02-28

REGISTERED NUMBER: SC258485 (Scotland)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2026

FOR

GROUND DEVELOPMENTS LIMITED

GROUND DEVELOPMENTS LIMITED (REGISTERED NUMBER: SC258485)

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2026

Page |

Company Information | 1 |

Statement of Financial Position | 2 |

Notes to the Financial Statements | 4 |

GROUND DEVELOPMENTS LIMITED

COMPANY INFORMATION

FOR THE YEAR ENDED 28 FEBRUARY 2026

| DIRECTORS: | P Nicholas

| W Barr

| K Mackenzie

| SECRETARY: | Mrs S E Nicholas

| REGISTERED OFFICE: | Unit 1 Burnhouse Industrial Estate

| Whitburn

| Bathgate

| West Lothian

| EH47 0LQ

| REGISTERED NUMBER: | SC258485 (Scotland)

| ACCOUNTANTS: | MacDonald Morton Ltd

| Chartered Accountants

| 67 March Road

| Edinburgh

| EH4 3SU

| BANKERS: | Handelsbanken

| Apex 3, 2,

| 95 Haymarket Terrace

| Edinburgh

| EH12 5HD

| SOLICITORS: | Anderson Strathern

| 1 Rutland Court

| Edinburgh

| EH3 8EY

GROUND DEVELOPMENTS LIMITED (REGISTERED NUMBER: SC258485)

STATEMENT OF FINANCIAL POSITION

28 FEBRUARY 2026

| 28.2.26 | 28.2.25 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 375,839 |  | 242,955 |  |

Investment property | 5 | 1,334,482 |  | 385,000 |  |

1,710,321 |  | 627,955 |  |

CURRENT ASSETS

Debtors | 6 | 6,591,477 |  | 3,059,298 |  |

Cash at bank and in hand | 2,043,079 |  | 1,406,788 |  |

8,634,556 |  | 4,466,086 |  |

CREDITORS

Amounts falling due within one year | 7 | 3,619,060 |  | 786,442 |  |

NET CURRENT ASSETS | 5,015,496 |  | 3,679,644 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 6,725,817 |  | 4,307,599 |  |

CAPITAL AND RESERVES

Called up share capital | 112 |  | 126 |  |

Share premium | 39,960 |  | 39,960 |  |

Capital redemption reserve | 28 |  | 14 |  |

Retained earnings | 6,685,717 |  | 4,267,499 |  |

SHAREHOLDERS' FUNDS | 6,725,817 |  | 4,307,599 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2026 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.

GROUND DEVELOPMENTS LIMITED (REGISTERED NUMBER: SC258485)

STATEMENT OF FINANCIAL POSITION - continued

28 FEBRUARY 2026

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 19 June 2026 and were signed on its behalf by:

K Mackenzie - Director

GROUND DEVELOPMENTS LIMITED (REGISTERED NUMBER: SC258485)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2026

1. | STATUTORY INFORMATION

| Ground Developments Limited is a private company, limited by shares , registered in Scotland. 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 as modified by the revaluation of certain assets.

| Turnover

| Revenue comprises the fair value of the sale of goods and services net of value added tax, rebates and discounts.

| Revenue is recognised as follows:

| Sales of goods are recognised when the company has delivered products to the customer, the customer has accepted the products, and collectability of the related receivables is fairly assured.In respect of products sold with a right of return, accumulated experience is used to estimate and provide for such returns at the time of sale.

| Service revenues are recognised as those services are provided to customers.

| Tangible fixed assets

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

| Motor vehicles | - | 25% on cost

| Plant, equipment & machinery | - | 33% on cost and 15% on reducing balance

| Investment property

| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

| Taxation

| Taxation for the year comprises current and deferred 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 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 statement of financial position date.

| Deferred taxation

| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

GROUND DEVELOPMENTS LIMITED (REGISTERED NUMBER: SC258485)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 28 FEBRUARY 2026

2. | ACCOUNTING POLICIES - continued

| Operating leases

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

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

| 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.

| Employee benefits

| Short-term employee benefits are recognised as an expense in the period in which they are incurred. The costs of any unused holiday entitlement is recognised in the period in which the employee's services are received.

| Long term contracts

| Amounts recoverable on long term contracts, which are included in debtors, are stated at the net sales value of the work done after provision for contingencies and anticipated future losses on contracts, less amounts received as progress payments on account. No profit is recognised until a contract has advanced to a stage where the total profit can be assessed with reasonable certainty. Income arising from settlement of contract claims is recorded when final negotiations have been completed and the amount of the settlement is considered to be collectable.

| Impairment of assets

| At each reporting date fixed assets are reviewed to determine whether there is an indication that those assets have suffered on impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

| If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

| Cash and cash equivalents

| Cash and cash equivalents include cash in hand and deposits held at call with banks and bank overdrafts

| Short term debtors and creditors

| Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price including transaction costs. Any losses arising from impairment review at the reporting date are recognised in the income statement.

GROUND DEVELOPMENTS LIMITED (REGISTERED NUMBER: SC258485)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 28 FEBRUARY 2026

2. | ACCOUNTING POLICIES - continued

| Equity instruments

| Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

| Financial instruments

| Fair value of financial assets carried at amortised cost - The directors consider that the carrying amounts of financial assets carried at amortised cost in the financial statements approximate to their fair values.

| Critical estimates and judgements

| The directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period or in the period of the revision and future periods if the revision affects both current and future periods.

| Accounting for construction contracts - The company undertakes construction contracts which take place over a period of time and revenue and profits are recognised as the company performs under these contracts. The extent to which the contract revenue and profits have been earned involve estimating a percentage of completion under ongoing contracts which is based on costs incurred at the date as a proportion of total estimated costs.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 47 (2025 - 44 ) .

4. | TANGIBLE FIXED ASSETS

| Plant and

| machinery

| etc

£ |

| COST

| At 1 March 2025 | 323,940 |  |

| Additions | 285,440 |  |

| At 28 February 2026 | 609,380 |  |

| DEPRECIATION

| At 1 March 2025 | 80,985 |  |

| Charge for year | 152,556 |  |

| At 28 February 2026 | 233,541 |  |

| NET BOOK VALUE

| At 28 February 2026 | 375,839 |  |

| At 28 February 2025 | 242,955 |  |

GROUND DEVELOPMENTS LIMITED (REGISTERED NUMBER: SC258485)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 28 FEBRUARY 2026

5. | INVESTMENT PROPERTY

| Total

£ |

| FAIR VALUE

| At 1 March 2025 | 385,000 |  |

| Additions | 949,482 |  |

| At 28 February 2026 | 1,334,482 |  |

| NET BOOK VALUE

| At 28 February 2026 | 1,334,482 |  |

| At 28 February 2025 | 385,000 |  |

| The investment property was valued by the directors at a fair market value at 28 February 2026.

6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 28.2.26 |  | 28.2.25

£ | £ |

| Trade debtors | 2,882,793 |  | 885,616 |  |

| Amounts recoverable on contract | 2,302,688 |  | 718,444 |  |

| Other debtors | 1,405,996 |  | 1,455,238 |  |

6,591,477 |  | 3,059,298 |  |

7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 28.2.26 |  | 28.2.25

£ | £ |

| Trade creditors | 2,511,773 |  | 651,101 |  |

| Taxation and social security | 1,054,584 |  | 93,826 |  |

| Other creditors | 52,703 |  | 41,515 |  |

3,619,060 |  | 786,442 |  |