REGISTERED NUMBER:
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Groundwork Pride Limited |
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Report of the Directors and |
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Unaudited Financial Statements For The Period 1 October 2020 to 31 March 2021 |
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REGISTERED NUMBER:
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Groundwork Pride Limited |
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Report of the Directors and |
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Unaudited Financial Statements For The Period 1 October 2020 to 31 March 2021 |
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Groundwork Pride Limited (Registered number: 02871169) |
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Contents of the Financial Statements |
For The Period 1 October 2020 to 31 March 2021 |
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Company Information | 1 |
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Report of the Directors | 2 |
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Income Statement | 3 |
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Balance Sheet | 4 |
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Notes to the Financial Statements | 5 |
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Groundwork Pride Limited |
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Company Information |
For The Period 1 October 2020 to 31 March 2021 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
The Old Grammar School |
13 Moorgate Road |
Rotherham |
South Yorkshire |
S60 2EN |
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BANKERS: |
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Wakefield |
WF1 3BG |
Groundwork Pride Limited (Registered number: 02871169) |
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Report of the Directors |
For The Period 1 October 2020 to 31 March 2021 |
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The directors present their report with the financial statements of the company for the period 1 October 2020 to 31 March 2021. |
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REVIEW OF BUSINESS |
Due to the impact of the Covid-19 pandemic, Groundwork Pride Limited extended its financial reporting period to 30 September 2020. This report covers the period from 1 October 2020 to 31 March 2021. The company will revert to a standard 12-month reporting period from 1 April 2021. |
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During the period of this report, Groundwork Pride Limited was a trading subsidiary jointly owned by Groundwork Wakefield Limited (51%) and Groundwork North Yorkshire (49%), both charitable companies whose objects are environmental and employment improvements in the City of Wakefield and the county of North Yorkshire respectively. |
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On 1 January 2021, Groundwork Wakefield, having completed its merger with the Leeds Groundwork Trust and Groundwork North Yorkshire, changed its name to Groundwork Yorkshire Limited and amended its Articles of Association so that its charitable area covers Yorkshire and the Humber. As a result, Groundwork Pride Limited is now a wholly owned trading subsidiary of Groundwork Yorkshire Limited. |
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In the period under review, GPL further developed its forward order book, securing over £1m of work for future periods with a target client ratio of 30% small/medium landscaping work; 40% housing developer related and 30% design build work developed and delivered in partnership. We are achieving a better than 50% tender success rate on our bid for work with ongoing positive client feedback - essential for our very competitive market place. |
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Our specific projects range from garden and public open space creation in areas of new housing to the delivery of technically demanding landscapes in commercial, public and private spaces. Projects completed in the past twelve months include hard and soft landscaping projects with values from £5,000 to £50,000. |
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Whilst GPL is not directly involved in the provision of charitable services, it works closely with the Trusts and its contribution to the success of the Trusts is more than simply the gift aiding of annual surplus. By delivering quality environmental service, GPL actively promotes the aims of its parent Trusts and the national Groundwork network, often in areas and with partners who are not familiar with the work of Groundwork. |
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Whilst we have a clear focus on more commercial opportunities, our trading company remains important to the delivery of Groundwork's wider strategy in Yorkshire and the Humber, a process which brings added benefit as overhead costs are shared and staff gain greater and wider experience. Both locally and nationally the Federation of Groundwork Trusts has also initiated a process of change and has renewed its overall strategy whilst introducing a new partnership agreement for member trusts. This process of change means that our work and development activity is being more closely aligned with that of fellow Groundwork Trusts. This has led to a number of interesting and useful developments already, including the shared development of design services with our colleagues in the North East which has the potential to expand the work of GPL further. |
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DIRECTORS |
The directors shown below have held office during the whole of the period from 1 October 2020 to the date of this report. |
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This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. |
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ON BEHALF OF THE BOARD: |
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Groundwork Pride Limited (Registered number: 02871169) |
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Income Statement |
For The Period 1 October 2020 to 31 March 2021 |
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Period | Period |
1.10.20 | 1.4.19 |
to | to |
31.3.21 | 30.9.20 |
£ | £ |
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TURNOVER |
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Cost of sales |
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GROSS PROFIT |
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Administrative expenses |
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25,592 | 53,453 |
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Other operating income |
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OPERATING PROFIT |
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Interest payable and similar expenses |
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PROFIT BEFORE TAXATION |
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Tax on profit |
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PROFIT FOR THE FINANCIAL PERIOD |
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Groundwork Pride Limited (Registered number: 02871169) |
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Balance Sheet |
31 March 2021 |
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2021 | 2020 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
7 |
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NET LIABILITIES | ( |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS | ( |
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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. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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Groundwork Pride Limited (Registered number: 02871169) |
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Notes to the Financial Statements |
For The Period 1 October 2020 to 31 March 2021 |
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1. | STATUTORY INFORMATION |
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Groundwork Pride Limited is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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These accounts have been prepared on the going concern basis on the assumption that the parent company, Groundwork Yorkshire Limited, will continue to support its operations. Groundwork Yorkshire Limited has incurred repeated group deficits on unrestricted funds and group net current liabilities on unrestricted funds. Details of Groundwork Yorkshire Limited's plans to address the deficit of funds can be found in note 1 of its accounts. These plans include a merger with Groundwork North Yorkshire and The Leeds Groundwork Trust and the acquisition of part of the business of Groundwork South Yorkshire. This merger to form Groundwork Yorkshire Limited will improve efficiency so enhance the ability of the group to support its subsidiaries. |
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Based on the above considerations the Board considers it remains appropriate to prepare the accounts on a going concern basis. |
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Turnover |
Turnover represents revenue recognised by the company in respect of goods and services supplied, exclusive of Value Added Tax and trade discounts. Revenue is recognised when work is performed. Any excess of sales invoiced over revenue recognised is included as deferred income within other creditors, and any deficit as accrued income within other debtors. |
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Tangible fixed assets |
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the costs of fixed assets, less their estimated residual value over their expected useful lives on the following bases: |
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Plant & machinery - over 5 years straight line |
Fixtures & fittings - over 3-5 years straight line |
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Pension costs |
The company makes contributions to the West Yorkshire Pension Scheme, a multi-employer defined benefit pension scheme. This company's share of the scheme cannot be separately identified and therefore, in accordance with FRS102 the contributions have have been accounted for as defined contribution pension scheme. Within the accounts of the parent company the pension scheme has been accounted for as a defined benefit scheme as the group's share of the scheme can be identified. The pension charge represents contributions payable by the company to the scheme. |
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Government grants |
The company has adopted the performance model. |
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Government revenue grants towards current expenditure are recognised in the period the expenditure is incurred. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees was 10 (2020: 8). |
Groundwork Pride Limited (Registered number: 02871169) |
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Notes to the Financial Statements - continued |
For The Period 1 October 2020 to 31 March 2021 |
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4. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and |
machinery | fittings | Totals |
£ | £ | £ |
COST |
At 1 October 2020 |
and 31 March 2021 |
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DEPRECIATION |
At 1 October 2020 |
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Charge for period |
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At 31 March 2021 |
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NET BOOK VALUE |
At 31 March 2021 |
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At 30 September 2020 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Trade creditors |
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Amounts owed to group undertakings |
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Taxation and social security |
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Other creditors |
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7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2021 | 2020 |
£ | £ |
Amounts owed to group undertakings |
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Other creditors |
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The above includes £191,679 (2020: £201,156) payable in instalments due after more than five years. |
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8. | RELATED PARTY DISCLOSURES |
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The company donates profits to the controlling charities based on the work performed in their operational areas. Donations to be paid for the year are £nil (2020: £nil). |
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The company entered transactions not under normal market conditions with its shareholders as follows: |
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Sales | Purchases | Debtors | Creditors |
£ | £ | £ | £ |
2021 | 28,584 | 5,851 | 532 | 294,766 |
2020 | 31,650 | 57,666 | 9,549 | 295,395 |
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Groundwork Pride Limited (Registered number: 02871169) |
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Notes to the Financial Statements - continued |
For The Period 1 October 2020 to 31 March 2021 |
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9. | ULTIMATE CONTROLLING PARTY |
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The company is controlled by Groundwork Yorkshire Limited as the majority shareholder. The registered office of Groundwork Yorkshire Limited is Environment & Business Centre, Merlyn-Rees Avenue, Morley, Leeds, LS27 9SL. |
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The company is consolidated in the group accounts prepared by its parent Groundwork Yorkshire Limited which are available from Companies House. |