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REGISTERED NUMBER: 08921242 (England and Wales)






















Fields Farm Eggs Limited

Unaudited Financial Statements for the Year Ended 31st March 2024






Fields Farm Eggs Limited (Registered number: 08921242)






Contents of the Financial Statements
for the year ended 31st March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Fields Farm Eggs Limited

Company Information
for the year ended 31st March 2024







DIRECTORS: G H Field
Mrs K Field
Miss G H Field
A H Field





REGISTERED OFFICE: Lower Mill Farm
South Newbald
York
East Yorkshire
YO43 4SU





REGISTERED NUMBER: 08921242 (England and Wales)





ACCOUNTANTS: Smailes Goldie Limited
Chartered Accountants
Regent's Court
Princess Street
Hull
East Yorkshire
HU2 8BA

Fields Farm Eggs Limited (Registered number: 08921242)

Balance Sheet
31st March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 144,651 90,764
Investments 6 2,386,426 1,108,520
2,531,077 1,199,284

CURRENT ASSETS
Stocks 153,142 166,017
Debtors 7 631,623 821,535
Cash at bank and in hand 485,831 278,344
1,270,596 1,265,896
CREDITORS
Amounts falling due within one year 8 930,861 765,677
NET CURRENT ASSETS 339,735 500,219
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,870,812

1,699,503

PROVISIONS FOR LIABILITIES 21,574 -
NET ASSETS 2,849,238 1,699,503

CAPITAL AND RESERVES
Called up share capital 4 4
Retained earnings 2,849,234 1,699,499
SHAREHOLDERS' FUNDS 2,849,238 1,699,503

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Fields Farm Eggs Limited (Registered number: 08921242)

Balance Sheet - continued
31st March 2024


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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12th September 2024 and were signed on its behalf by:





G H Field - Director


Fields Farm Eggs Limited (Registered number: 08921242)

Notes to the Financial Statements
for the year ended 31st March 2024

1. STATUTORY INFORMATION

Fields Farm Eggs 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.

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 as modified by the revaluation of certain assets.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. The company adopted FRS 102 in the current year and an explanation of how transition to FRS 102 has affected the reported financial position and performance is given in the notes to the financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Sale of goods

Turnover from the sale of eggs is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on the dispatch of the goods.

Goodwill
Goodwill arising on business combinations is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over five years. Which the directors consider to be its useful economic life. Provision is made for any impairment.

Tangible fixed assets
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Plant and machinery - 15% and 25% of reducing balance and 25% on cost
Motor vehicles - 25% of reducing balance

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Financial instruments
Listed investments
Listed investments are initially measured at transaction price and are subsequently measured at fair value at the end of each reporting date. Fair value is deemed to be the bid price of each listed investment by reference to published market data at close of trading on the reporting date. Fair value gains and losses are recognised through the profit and loss account.

Fields Farm Eggs Limited (Registered number: 08921242)

Notes to the Financial Statements - continued
for the year ended 31st March 2024

2. ACCOUNTING POLICIES - continued

Taxation
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

Foreign currencies
Foreign currency transactions are initially recognised by applying to the foreign currency amount the spot exchange rate between the functional currency and the foreign currency at the date of the transaction.

Monetary assets and liabilities denominated in a foreign currency at the balance sheet date are translated using the closing rate.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Pension costs and other post retirement benefits
When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

The company operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2023 - 14 ) .

Fields Farm Eggs Limited (Registered number: 08921242)

Notes to the Financial Statements - continued
for the year ended 31st March 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st April 2023
and 31st March 2024 500,000
AMORTISATION
At 1st April 2023
and 31st March 2024 500,000
NET BOOK VALUE
At 31st March 2024 -
At 31st March 2023 -

5. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1st April 2023 171,239 138,625 309,864
Additions 3,021 80,200 83,221
Disposals - (10,450 ) (10,450 )
At 31st March 2024 174,260 208,375 382,635
DEPRECIATION
At 1st April 2023 121,409 97,691 219,100
Charge for year 10,910 16,352 27,262
Eliminated on disposal - (8,378 ) (8,378 )
At 31st March 2024 132,319 105,665 237,984
NET BOOK VALUE
At 31st March 2024 41,941 102,710 144,651
At 31st March 2023 49,830 40,934 90,764

6. FIXED ASSET INVESTMENTS
Listed
investments
£   
COST OR VALUATION
At 1st April 2023 1,108,520
Additions 1,400,000
Disposals (160,000 )
Revaluations 37,906
At 31st March 2024 2,386,426
NET BOOK VALUE
At 31st March 2024 2,386,426
At 31st March 2023 1,108,520

Fields Farm Eggs Limited (Registered number: 08921242)

Notes to the Financial Statements - continued
for the year ended 31st March 2024

6. FIXED ASSET INVESTMENTS - continued


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 543,265 625,001
Other debtors 88,358 196,534
631,623 821,535

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 477,793 339,378
Taxation and social security 369,792 178,241
Other creditors 83,276 248,058
930,861 765,677

9. OTHER FINANCIAL COMMITMENTS

The company operates a defined contribution pension scheme for the directors and senior employees. The assets of the scheme are held separately from those of the company in an independently administered fund. Included in other creditors are amounts owed to the pension scheme totalling £10,420 (2023: £160,328).

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31st March 2024 and 31st March 2023:

2024 2023
£    £   
G H Field and Mrs K Field
Balance outstanding at start of year 49,981 80,443
Amounts advanced 62,339 49,981
Amounts repaid (49,981 ) (80,443 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 62,339 49,981

Interest has been charged at official rates.