Field Consulting Limited
Unaudited Financial Statements
For the year ended 31 December 2023
Pages for Filing with Registrar
Company Registration No. 08777648 (England and Wales)
Field Consulting Limited
Company Information
Director
Mr C Rumfitt
Company number
08777648
Registered office
6th Floor
9 Appold Street
London
EC2A 2AP
Accountants
Moore Kingston Smith LLP
6th Floor
9 Appold Street
London
EC2A 2AP
Field Consulting Limited
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 6
Field Consulting Limited
Balance Sheet
As at 31 December 2023
Page 1
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
27,591
44,197
Current assets
Debtors
5
593,773
419,067
Cash at bank and in hand
670,769
293,199
1,264,542
712,266
Creditors: amounts falling due within one year
6
(572,518)
(352,666)
Net current assets
692,024
359,600
Total assets less current liabilities
719,615
403,797
Capital and reserves
Called up share capital
8
103
103
Profit and loss reserves
719,512
403,694
Total equity
719,615
403,797

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 6 August 2024
Mr C Rumfitt
Director
Company Registration No. 08777648
Field Consulting Limited
Notes to the Financial Statements
For the year ended 31 December 2023
Page 2
1
Accounting policies
Company information

Field Consulting Limited is a private company limited by shares incorporated in England and Wales. The registered office is 6th Floor, 9 Appold Street, London, EC2A 2AP.

1.1
Accounting convention

These financial statements have been prepared in accordance with Section 1A of FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”), including section 1A, and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

As at the balance sheet date the company had net current assets of £697,930 (2022: £403,797). It is the view of the directors that based on future financial and cashflow projections that the company will continue to trade for at least 12 months from the signing of the accounts and as such the accounts have been prepared on a going concern basis.true

1.3
Turnover

Turnover represents amounts receivable for services net of VAT and trade discounts.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land and buildings Leasehold
25% straight line
Fixtures, fittings & equipment
25% straight line
Computer equipment
25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Financial instruments
The company has only basic financial instruments.
Field Consulting Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2023
1
Accounting policies
(Continued)
Page 3
Financial assets/liabilities measured at amortised cost
Debtors and creditors receivable or payable within one year of the reporting date are carried at their at transaction price. Debtors and creditors that are receivable or payable in more than one year and not subject to a market rate of interest are measured at the present value of the expected future receipts or payment discounted at a market rate of interest.
1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.8
Taxation

The tax expense represents the sum of the tax currently payable.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.10
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.11
Share-based payments

Equity-settled share-based payments are measured at fair value at the date of grant by reference to the fair value of the equity instruments granted using the Black-Scholes model. The fair value determined at the grant date is expensed on a straight-line basis over the vesting period, based on the estimate of shares that will eventually vest.

Field Consulting Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2023
Page 4
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
23
19
3
Dividends
2023
2022
£
£
Final paid
391,000
276,000
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 January 2023
71,810
77,545
149,355
Additions
-
0
8,512
8,512
At 31 December 2023
71,810
86,057
157,867
Depreciation and impairment
At 1 January 2023
38,349
66,809
105,158
Depreciation charged in the year
17,953
7,165
25,118
At 31 December 2023
56,302
73,974
130,276
Carrying amount
At 31 December 2023
15,508
12,083
27,591
At 31 December 2022
33,461
10,736
44,197
Field Consulting Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2023
Page 5
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
494,480
320,311
Other debtors
99,293
98,756
593,773
419,067
6
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
96,278
149,021
Corporation tax
242,262
45,119
Other taxation and social security
213,676
95,488
Other creditors
20,302
63,038
572,518
352,666
Field Consulting Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2023
Page 6
7
Share-based payment transactions
Number of share options
Weighted average exercise price
2023
2022
2023
2022
Number
Number
£
£
Outstanding at 1 January 2023
6,466
9,722
1.47
1.45
Expired
(2,685)
(3,256)
1.51
1.40
Outstanding at 31 December 2023
3,781
6,466
1.45
1.47
8
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A shares of 0.1p each
100,000
100,000
100
100
Ordinary B shares of 0.1p each
3,093
3,094
3
3
103,093
103,094
103
103
9
Operating lease commitments
2023
2022
£
£
Within one year
209,769
209,769
Between two and five years
97,518
307,487
307,287
517,256
10
Related party transactions
Remuneration of key management personnel

Dividends totalling £293,250 (2022 - £207,000) were paid in the year in respect of shares held by the company's director. Dividends totalling £97,750 (2022 - £69,000) were also paid in the year in respect of shares held by family members of the director.

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