Silverfin false 31/03/2023 01/04/2022 31/03/2023 D T Cracklen 14/03/2017 06 October 2023 The principal activity of the Company during the financial year was a land agent. 10668830 2023-03-31 10668830 bus:Director1 2023-03-31 10668830 2022-03-31 10668830 core:CurrentFinancialInstruments 2023-03-31 10668830 core:CurrentFinancialInstruments 2022-03-31 10668830 core:Non-currentFinancialInstruments 2023-03-31 10668830 core:Non-currentFinancialInstruments 2022-03-31 10668830 core:ShareCapital 2023-03-31 10668830 core:ShareCapital 2022-03-31 10668830 core:RetainedEarningsAccumulatedLosses 2023-03-31 10668830 core:RetainedEarningsAccumulatedLosses 2022-03-31 10668830 core:FurnitureFittings 2022-03-31 10668830 core:OfficeEquipment 2022-03-31 10668830 core:FurnitureFittings 2023-03-31 10668830 core:OfficeEquipment 2023-03-31 10668830 2022-04-01 2023-03-31 10668830 bus:FullAccounts 2022-04-01 2023-03-31 10668830 bus:SmallEntities 2022-04-01 2023-03-31 10668830 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 10668830 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 10668830 bus:Director1 2022-04-01 2023-03-31 10668830 core:FurnitureFittings 2022-04-01 2023-03-31 10668830 core:OfficeEquipment 2022-04-01 2023-03-31 10668830 2021-04-01 2022-03-31 10668830 core:Non-currentFinancialInstruments 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Company No: 10668830 (England and Wales)

PRIESTFIELD LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2023
Pages for filing with the registrar

PRIESTFIELD LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2023

Contents

PRIESTFIELD LIMITED

BALANCE SHEET

As at 31 March 2023
PRIESTFIELD LIMITED

BALANCE SHEET (continued)

As at 31 March 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 37,544 34,631
37,544 34,631
Current assets
Debtors 4 0 23,040
Cash at bank and in hand 87,217 61,046
87,217 84,086
Creditors: amounts falling due within one year 5 ( 23,631) ( 39,372)
Net current assets 63,586 44,714
Total assets less current liabilities 101,130 79,345
Creditors: amounts falling due after more than one year 6 ( 17,552) ( 25,362)
Net assets 83,578 53,983
Capital and reserves
Called-up share capital 100 100
Profit and loss account 83,478 53,883
Total shareholder's funds 83,578 53,983

For the financial year ending 31 March 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Priestfield Limited (registered number: 10668830) were approved and authorised for issue by the Director on 06 October 2023. They were signed on its behalf by:

D T Cracklen
Director
PRIESTFIELD LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
PRIESTFIELD LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Priestfield Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Towngate House, 2-8 Parkstone Road, Poole, BH15 2PW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.
Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Fixtures and fittings 15 % reducing balance
Office equipment 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 2 2

3. Tangible assets

Fixtures and fittings Office equipment Total
£ £ £
Cost
At 01 April 2022 27,034 12,440 39,474
Additions 2,764 6,395 9,159
At 31 March 2023 29,798 18,835 48,633
Accumulated depreciation
At 01 April 2022 156 4,687 4,843
Charge for the financial year 4,308 1,938 6,246
At 31 March 2023 4,464 6,625 11,089
Net book value
At 31 March 2023 25,334 12,210 37,544
At 31 March 2022 26,878 7,753 34,631

4. Debtors

2023 2022
£ £
Trade debtors 0 16,149
Corporation tax 0 ( 4,073)
Other debtors 0 10,964
0 23,040

5. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 6,582 5,354
Trade creditors 5,816 8,155
Taxation and social security 5,370 15,695
Other creditors 5,863 10,168
23,631 39,372

6. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 17,552 25,362

There are no amounts included above in respect of which any security has been given by the small entity.