Registration number:
for the Year Ended
Field Farm Stud (Wiltshire) Ltd.
Contents
Balance Sheet |
|
Notes to the Unaudited Financial Statements |
Field Farm Stud (Wiltshire) Ltd.
(Registration number: 11621347)
Balance Sheet as at 31 October 2023
Note |
2023 |
2022 |
|
Fixed assets |
|||
Tangible assets |
|
|
|
Current assets |
|||
Debtors |
- |
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Net current liabilities |
( |
( |
|
Net liabilities |
( |
( |
|
Capital and reserves |
|||
Called up share capital |
100 |
100 |
|
Retained earnings |
(50,428) |
(16,598) |
|
Shareholders' deficit |
(50,328) |
(16,498) |
For the financial year ending 31 October 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
......................................... |
Field Farm Stud (Wiltshire) Ltd.
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
England
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Going concern
The company is reliant on the financial support of its director, who has committed to provide additional cash injections as required. Therefore, the accounts have been prepared on a going concern basis on the understanding that sufficient cash will be made available to enable the company to meet its liabilities as they fall due during the next 12 months.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the provision of livery and other services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
Tax
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Field Farm Stud (Wiltshire) Ltd.
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Plant and machinery |
20% straight line basis |
Long leasehold property improvements |
4% straight line basis |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Field Farm Stud (Wiltshire) Ltd.
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023
Tangible assets |
Long leasehold property improvements |
Plant and machinery |
Total |
|
Cost or valuation |
|||
At 1 November 2022 |
|
|
|
At 31 October 2023 |
|
|
|
Depreciation |
|||
At 1 November 2022 |
|
|
|
Charge for the year |
|
|
|
At 31 October 2023 |
|
|
|
Carrying amount |
|||
At 31 October 2023 |
|
|
|
At 31 October 2022 |
|
|
|
Included within the net book value of land and buildings above is £136,164 (2022 - £142,331) in respect of long leasehold land and buildings.
Debtors |
Current |
2023 |
2022 |
Prepayments |
- |
|
- |
|
Creditors |
Creditors: amounts falling due within one year
2023 |
2022 |
|
Due within one year |
||
Trade creditors |
- |
|
Other creditors |
|
|
|
|
Field Farm Stud (Wiltshire) Ltd.
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023
Related party transactions |
Transactions with directors |
M Ebert (director) had a loan account with the company. At the balance sheet date the amount due to M Ebert was £190,900 (2022: £167,900).