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REGISTERED NUMBER: 05448204 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2023

FOR

FIELDS OF SHIFNAL LIMITED

FIELDS OF SHIFNAL LIMITED (REGISTERED NUMBER: 05448204)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2023










Page

Company information 1

Statement of financial position 2 to 3

Notes to the financial statements 4 to 6


FIELDS OF SHIFNAL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2023







DIRECTOR: Mr A Teecey



REGISTERED OFFICE: 4 Broadway
Shifnal
Shropshire
TF11 8AZ



REGISTERED NUMBER: 05448204 (England and Wales)



ACCOUNTANTS: NJR Accountancy Services Limited
14 Victoria Square
Droitwich Spa
Worcestershire
WR9 8DS



BANKERS: Barclays Bank
Leicester Area
Leicester
LE87 2BB

FIELDS OF SHIFNAL LIMITED (REGISTERED NUMBER: 05448204)

STATEMENT OF FINANCIAL POSITION
31ST MARCH 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Property, plant and equipment 5 180,808 163,520
180,808 163,520

CURRENT ASSETS
Debtors 6 16,354 25,438
Cash at bank 412,024 390,337
428,378 415,775
CREDITORS
Amounts falling due within one year 7 442,208 409,131
NET CURRENT (LIABILITIES)/ASSETS (13,830 ) 6,644
TOTAL ASSETS LESS CURRENT LIABILITIES 166,978 170,164

CREDITORS
Amounts falling due after more than one year 8 (95,844 ) (114,981 )

PROVISIONS FOR LIABILITIES (3,080 ) -
NET ASSETS 68,054 55,183

CAPITAL AND RESERVES
Called up share capital 150 100
Retained earnings 67,904 55,083
SHAREHOLDERS' FUNDS 68,054 55,183

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

FIELDS OF SHIFNAL LIMITED (REGISTERED NUMBER: 05448204)

STATEMENT OF FINANCIAL POSITION - continued
31ST MARCH 2023


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 director and authorised for issue on 31st August 2023 and were signed by:





Mr A Teecey - Director


FIELDS OF SHIFNAL LIMITED (REGISTERED NUMBER: 05448204)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2023


1. STATUTORY INFORMATION

Fields of Shifnal 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.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is being amortised evenly over its estimated useful life of ten years.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on cost
Computer equipment - 33% on cost

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 tax
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.

FIELDS OF SHIFNAL LIMITED (REGISTERED NUMBER: 05448204)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2023


2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st April 2022
and 31st March 2023 10,539
AMORTISATION
At 1st April 2022
and 31st March 2023 10,539
NET BOOK VALUE
At 31st March 2023 -
At 31st March 2022 -

5. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Freehold and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1st April 2022 163,520 8,226 6,995 13,638 192,379
Additions - 21,610 - - 21,610
At 31st March 2023 163,520 29,836 6,995 13,638 213,989
DEPRECIATION
At 1st April 2022 - 8,226 6,995 13,638 28,859
Charge for year - 4,322 - - 4,322
At 31st March 2023 - 12,548 6,995 13,638 33,181
NET BOOK VALUE
At 31st March 2023 163,520 17,288 - - 180,808
At 31st March 2022 163,520 - - - 163,520

FIELDS OF SHIFNAL LIMITED (REGISTERED NUMBER: 05448204)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2023


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 12,317 22,308
Other debtors 4,037 3,130
16,354 25,438

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 15,642 27,389
Trade creditors 10,164 7,877
Taxation and social security 40,040 49,212
Other creditors 376,362 324,653
442,208 409,131

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans 95,844 114,981

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 53,157 62,294