Company registration number 1405988 (England and Wales)
FIELD FILMS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
FIELD FILMS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
FIELD FILMS LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,193
1,728
Current assets
Debtors
4
25,690
Cash at bank and in hand
212,920
317,879
212,920
343,569
Creditors: amounts falling due within one year
5
(40,798)
(74,298)
Net current assets
172,122
269,271
Net assets
173,315
270,999
Capital and reserves
Called up share capital
4
4
Profit and loss reserves
173,311
270,995
Total equity
173,315
270,999
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 20 July 2024
Mr. T W Field
Director
Company Registration No. 1405988
FIELD FILMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information
Field Films Limited is a private company limited by shares incorporated in England and Wales. The registered office is Three Chimneys, Hunts Hill Lane, Naphill, High Wycombe, Buckinghamshire, United Kingdom, HP14 4RL.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.
1.3
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:
Computers
33% on cost / 25% reducing balance
1.4
Taxation
The tax expense represents 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.
1.5
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
FIELD FILMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 3 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
2
2
3
Tangible fixed assets
Computers
£
Cost
At 1 January 2023 and 31 December 2023
33,910
Depreciation and impairment
At 1 January 2023
32,182
Depreciation charged in the year
535
At 31 December 2023
32,717
Carrying amount
At 31 December 2023
1,193
At 31 December 2022
1,728
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
7,200
Other debtors
18,490
25,690
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
348
1,134
Taxation and social security
37,808
70,715
Other creditors
2,642
2,449
40,798
74,298
6
Directors' transactions
The following advances and credits to a director subsisted during the year:
FIELD FILMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
6
Directors' transactions
(Continued)
- 4 -
Description
% Rate
Opening balance
Amounts repaid
Closing balance
£
£
£
Directors loan
-
9,245
(9,245)
-
9,245
(9,245)
-