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REGISTERED NUMBER: 04441396 (England and Wales)















Fields Associates Limited

Financial Statements for the Year Ended 31 December 2022






Fields Associates Limited (Registered number: 04441396)






Contents of the Financial Statements
for the Year Ended 31 December 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Fields Associates Limited

Company Information
for the Year Ended 31 December 2022







Directors: A J Evans
J Latchem-Smith
C J S H Wallis





Registered office: 18/21 Old Field Road
Pencoed
Bridgend
Mid Glamorgan
CF35 5LJ





Registered number: 04441396 (England and Wales)





Auditors: Haines Watts Wales LLP, Statutory Auditors
7 Neptune Court
Vanguard Way
Cardiff
CF24 5PJ

Fields Associates Limited (Registered number: 04441396)

Balance Sheet
31 December 2022

2022 2021
Notes £    £   
Fixed assets
Tangible assets 4 20,038 16,628
Investments 5 21 21
20,059 16,649

Current assets
Debtors 6 713,124 1,740,110
Cash at bank 645,109 48,878
1,358,233 1,788,988
Creditors
Amounts falling due within one year 7 (188,001 ) (617,980 )
Net current assets 1,170,232 1,171,008
Total assets less current liabilities 1,190,291 1,187,657

Capital and reserves
Called up share capital 200 200
Retained earnings 1,190,091 1,187,457
1,190,291 1,187,657

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 29 September 2023 and were signed on its behalf by:





C J S H Wallis - Director


Fields Associates Limited (Registered number: 04441396)

Notes to the Financial Statements
for the Year Ended 31 December 2022

1. Statutory information

Fields Associates 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.

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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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 the cost less estimated residual value of each asset over its estimated useful life.
Equipment - 25% straight line

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 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.

Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruining at the reporting date, with any gains or losses being taken to the profit and loss account.

3. Employees and directors

The average number of employees during the year was 17 (2021 - 20 ) .

Fields Associates Limited (Registered number: 04441396)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

4. Tangible fixed assets
Equipment
£   
Cost
At 1 January 2022 67,782
Additions 9,132
At 31 December 2022 76,914
Depreciation
At 1 January 2022 51,154
Charge for year 5,722
At 31 December 2022 56,876
Net book value
At 31 December 2022 20,038
At 31 December 2021 16,628

5. Fixed asset investments
Interest
in other
participating
interests
£   
Cost
At 1 January 2022
and 31 December 2022 21
Net book value
At 31 December 2022 21
At 31 December 2021 21

The company owns 1% of the equity share capital of Fields Analytics Co., Limited, a company incorporated in Thailand.

6. Debtors: amounts falling due within one year
2022 2021
£    £   
Amounts owed by group undertakings 650,515 760,870
Other debtors 28,652 974,814
VAT 21,281 -
Prepayments 12,676 4,426
713,124 1,740,110

7. Creditors: amounts falling due within one year
2022 2021
£    £   
Trade creditors 144,491 116,034
Tax 7,463 -
Social security and other taxes 12,842 27,048
VAT - 34,144
Other creditors 10,085 12,641
Accrued expenses 13,120 428,113
188,001 617,980

Fields Associates Limited (Registered number: 04441396)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

8. Disclosure under Section 444(5B) of the Companies Act 2006

The Report of the Auditors was unqualified.

Victoria Carter (Senior Statutory Auditor)
for and on behalf of Haines Watts Wales LLP, Statutory Auditors

9. Ultimate controlling party

The ultimate parent company is Fields Holdings Limited, whose registered office is 21 Old Field Road, Bocam Park, Pencoed, Bridgend CF35 5LJ. Copies of it's financial statements are available from Companies House, Crown Way, Cardiff, CF14 3UZ.

10. Related party transactions

Field Associates Limited is a 100% subsidiary of Fields Group Limited, and has such taken advantage of the exemption stated in FRS102 whereby disclosure need not be given of transactions entered into between two or more members of the same group, provided that any subsidiary which party to the transaction is wholly owned by such a member.