REGISTERED NUMBER: |
Fields Associates Limited |
Financial Statements for the Year Ended 31 December 2022 |
REGISTERED NUMBER: |
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: |
Registered office: |
Registered number: |
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 |
Investments | 5 |
Current assets |
Debtors | 6 |
Cash at bank |
Creditors |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
Net current assets |
Total assets less current liabilities |
Capital and reserves |
Called up share capital |
Retained earnings |
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 |
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 |
2. | Accounting policies |
Basis of preparing the financial statements |
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 |
Equipment | - |
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 |
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 |
Additions |
At 31 December 2022 |
Depreciation |
At 1 January 2022 |
Charge for year |
At 31 December 2022 |
Net book value |
At 31 December 2022 |
At 31 December 2021 |
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 |
Other debtors |
VAT |
Prepayments |
7. | Creditors: amounts falling due within one year |
2022 | 2021 |
£ | £ |
Trade creditors |
Tax |
Social security and other taxes |
VAT | - | 34,144 |
Other creditors |
Accrued expenses |
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. |
for and on behalf of |
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. |