REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 October 2023 |
for |
FIELDSIDE ASSOCIATES LIMITED |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 October 2023 |
for |
FIELDSIDE ASSOCIATES LIMITED |
FIELDSIDE ASSOCIATES LIMITED (REGISTERED NUMBER: 02605615) |
Contents of the Financial Statements |
for the year ended 31 October 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Chartered Accountants' Report | 9 |
FIELDSIDE ASSOCIATES LIMITED |
Company Information |
for the year ended 31 October 2023 |
Director: |
Secretary: |
Registered office: |
Registered number: |
Accountants: |
Aissela |
46 High Street |
Esher |
Surrey |
KT10 9QY |
FIELDSIDE ASSOCIATES LIMITED (REGISTERED NUMBER: 02605615) |
Balance Sheet |
31 October 2023 |
2023 | 2022 |
as restated |
Notes | £ | £ | £ | £ |
Fixed assets |
Tangible assets | 4 |
Investments | 5 |
Current assets |
Stocks |
Debtors | 6 |
Investments | 7 |
Cash at bank |
Creditors |
Amounts falling due within one year | 8 |
Net current assets |
Total assets less current liabilities |
Creditors |
Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
Provisions for liabilities | ( |
) | ( |
) |
Net assets |
Capital and reserves |
Called up share capital | 11 |
Retained earnings |
Shareholders' funds |
The director acknowledges her 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. |
FIELDSIDE ASSOCIATES LIMITED (REGISTERED NUMBER: 02605615) |
Balance Sheet - continued |
31 October 2023 |
In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
FIELDSIDE ASSOCIATES LIMITED (REGISTERED NUMBER: 02605615) |
Notes to the Financial Statements |
for the year ended 31 October 2023 |
1. | Statutory information |
Fieldside Associates Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | Accounting policies |
Basis of preparing the financial statements |
Preparation of consolidated financial statements |
The financial statements contain information about Fieldside Associates Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
Key source of estimation, uncertainty and judgement |
The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period. |
There is estimation uncertainty in calculating depreciation. A full line by line review of fixed assets is carried out by management regularly. Whilst every attempt is made to ensure that the depreciation policy is as accurate as possible, there remains a risk that the policy does not match the useful life of the assets. |
There is estimation uncertainty in calculating deferred tax. A full line by line review of deferred tax is carried out by management regularly. Whilst every attempt is made to ensure that the deferred tax is as accurate as possible, there remains a risk that the provisions do not match the actual tax liability when asset is disposed of. |
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 |
Fixtures and fittings | - |
Computer equipment | - |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at fair value with changes in fair value recognised in profit or loss. |
Stocks |
Stock is valued at the lower of cost and net realisable value and relates to residential property held for sale. |
FIELDSIDE ASSOCIATES LIMITED (REGISTERED NUMBER: 02605615) |
Notes to the Financial Statements - continued |
for the year ended 31 October 2023 |
2. | Accounting policies - continued |
Financial instruments |
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a |
party to the contractual provisions of the instrument. |
Trade and other debtors and creditors are classified as basic financial instruments and measured at initial |
recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due. |
Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts. |
Financial liabilities and equity instruments issued by the company are classified in accordance with the |
substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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. |
3. | Employees and directors |
The average number of employees during the year was |
FIELDSIDE ASSOCIATES LIMITED (REGISTERED NUMBER: 02605615) |
Notes to the Financial Statements - continued |
for the year ended 31 October 2023 |
4. | Tangible fixed assets |
Fixtures |
and | Computer |
fittings | equipment | Totals |
£ | £ | £ |
Cost |
At 1 November 2022 |
and 31 October 2023 |
Depreciation |
At 1 November 2022 |
Charge for year |
At 31 October 2023 |
Net book value |
At 31 October 2023 |
At 31 October 2022 |
5. | Fixed asset investments |
Shares in |
group |
undertakings |
£ |
Cost |
At 1 November 2022 |
and 31 October 2023 |
Provisions |
At 1 November 2022 | 19,000 |
Provision for year | 10,000 |
At 31 October 2023 | 29,000 |
Net book value |
At 31 October 2023 |
At 31 October 2022 |
6. | Debtors: amounts falling due within one year |
2023 | 2022 |
as restated |
£ | £ |
Amounts owed by group undertakings |
Other debtors |
FIELDSIDE ASSOCIATES LIMITED (REGISTERED NUMBER: 02605615) |
Notes to the Financial Statements - continued |
for the year ended 31 October 2023 |
7. | Current asset investments |
2023 | 2022 |
as restated |
£ | £ |
Listed investments | - | 32,343 |
8. | Creditors: amounts falling due within one year |
2023 | 2022 |
as restated |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Tax |
Directors' current accounts | - | 152,677 |
Accrued expenses |
9. | Creditors: amounts falling due after more than one year |
2023 | 2022 |
as restated |
£ | £ |
Bank loans more 5 yrs non-inst | 4,540,103 | 4,540,956 |
Amounts falling due in more than five years: |
Repayable otherwise than by instalments |
Bank loans more 5 yrs non-inst |
10. | Secured debts |
The following secured debts are included within creditors: |
2023 | 2022 |
as restated |
£ | £ |
Bank loan | 4,540,103 | 4,840,956 |
There is a fixed and floating charge over the assets of the company in relation to the bank loans. |
FIELDSIDE ASSOCIATES LIMITED (REGISTERED NUMBER: 02605615) |
Notes to the Financial Statements - continued |
for the year ended 31 October 2023 |
11. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | as restated |
£ | £ |
Ordinary A | £1 | 90 | 90 |
Ordinary B | £1 | 10 | 10 |
100 | 100 |
12. | Director's advances, credits and guarantees |
At the year end, the director owed the company £1,252,062 (2022 restated: company owed the director £152,677). During the year, amounts advanced totalled £1,573,674 (2022: £82,049) and amounts repaid totalled £168,935 (2022: £84,846). |
The loan, when due from the company, is interest free. When due to the company, interest is charged at 2.25%. |
13. | Related party disclosures |
During the year, dividends totalling £2,000 (2022: £11,000) were paid to the director. |
At the balance sheet date, the company was owed £391,228 (2022: £380,901) from its subsidiary company. |
Chartered Accountants' Report to the Director |
on the Unaudited Financial Statements of |
Fieldside Associates 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 Statement of Comprehensive Income 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 Fieldside Associates Limited for the year ended 31 October 2023 which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes in Equity 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 Fieldside Associates Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Fieldside Associates Limited and state those matters that we have agreed to state to the director of Fieldside Associates 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 Fieldside Associates Limited and its director for our work or for this report. |
It is your duty to ensure that Fieldside Associates 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 profit of Fieldside Associates Limited. You consider that Fieldside Associates 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 Fieldside Associates 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. |
Aissela |
46 High Street |
Esher |
Surrey |
KT10 9QY |