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REGISTERED NUMBER: 12112639 (England and Wales)















Airfield Farm Limited

Unaudited Financial Statements

for the year ended

31 July 2023






Airfield Farm Limited (Registered number: 12112639)

Contents of the Financial Statements
for the year ended 31 July 2023










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 6

Chartered Accountants' Report 7

Airfield Farm Limited

Company Information
for the year ended 31 July 2023







DIRECTOR: S Eustace





REGISTERED OFFICE: Airfield Farm Cottage
Clopton Road
Monewden
Woodbridge
Suffolk
IP13 7DF





REGISTERED NUMBER: 12112639 (England and Wales)





ACCOUNTANTS: Haines Watts
Chartered Accountants
8 Hopper Way
Diss
Norfolk
IP22 4GT

Airfield Farm Limited (Registered number: 12112639)

Balance Sheet
31 July 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 34,517 14,952

CURRENT ASSETS
Debtors 5 44,165 58,527
Cash at bank 1,794 714
45,959 59,241
CREDITORS
Amounts falling due within one year 6 (39,249 ) (25,512 )
NET CURRENT ASSETS 6,710 33,729
TOTAL ASSETS LESS CURRENT LIABILITIES 41,227 48,681

CREDITORS
Amounts falling due after more than one
year

7

(37,436

)

(39,478

)

PROVISIONS FOR LIABILITIES (1,345 ) (1,024 )
NET ASSETS 2,446 8,179

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 2,346 8,079
SHAREHOLDERS' FUNDS 2,446 8,179

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

Airfield Farm Limited (Registered number: 12112639)

Balance Sheet - continued
31 July 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 31 January 2024 and were signed by:





S Eustace - Director


Airfield Farm Limited (Registered number: 12112639)

Notes to the Financial Statements
for the year ended 31 July 2023


1. STATUTORY INFORMATION

Airfield Farm 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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
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 each asset over its estimated useful life.
Land improvements - 10% reducing balance
Plant and machinery - 15% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Airfield Farm Limited (Registered number: 12112639)

Notes to the Financial Statements - continued
for the year ended 31 July 2023


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Land Plant and
improvements machinery Totals
£    £    £   
COST
At 1 August 2022 3,954 12,955 16,909
Additions 3,565 21,260 24,825
At 31 July 2023 7,519 34,215 41,734
DEPRECIATION
At 1 August 2022 922 1,035 1,957
Charge for year 570 4,690 5,260
At 31 July 2023 1,492 5,725 7,217
NET BOOK VALUE
At 31 July 2023 6,027 28,490 34,517
At 31 July 2022 3,032 11,920 14,952

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 935
Other debtors 44,165 57,592
44,165 58,527

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 7,686 5,623
Trade creditors 2,207 121
Taxation and social security 416 251
Other creditors 18,940 9,517
39,249 25,512

Airfield Farm Limited (Registered number: 12112639)

Notes to the Financial Statements - continued
for the year ended 31 July 2023


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 26,667 36,667
Hire purchase contracts 10,769 2,811
37,436 39,478

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

9. RELATED PARTY DISCLOSURES

At the end of the year, the company owed the director £15,218 (2022 : £2,868) relating to an interest free loan with no set repayment terms.


At the end of the year, the company was owed £34,920 (2022 : £45,563 ) by a connected company relating to an interest free loan with no set repayment terms.

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Airfield Farm Limited


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Airfield Farm Limited for the year ended 31 July 2023 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Airfield Farm Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Airfield Farm Limited and state those matters that we have agreed to state to the director of Airfield Farm Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Airfield Farm Limited and its director for our work or for this report.

It is your duty to ensure that Airfield Farm Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Airfield Farm Limited. You consider that Airfield Farm Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Airfield Farm Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Haines Watts
Chartered Accountants
8 Hopper Way
Diss
Norfolk
IP22 4GT


31 January 2024