2023-05-012024-04-302024-04-30false03683472FIELDDAILY 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FIELDDAILY LIMITED

Registered Number
03683472
(England and Wales)

Unaudited Financial Statements for the Year ended
30 April 2024

FIELDDAILY LIMITED
Company Information
for the year from 1 May 2023 to 30 April 2024

Directors

NOAR, Matthew David
NOAR, Stephen John

Registered Address

Clayland's Cottage Underhill Lane
Clayton
Hassocks
BN6 9PJ

Registered Number

03683472 (England and Wales)
FIELDDAILY LIMITED
Statement of Financial Position
30 April 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets4850,000850,000
Investments51,425,9751,425,975
2,275,9752,275,975
Current assets
Debtors6310,000620,000
Cash at bank and on hand318,2201,432
628,220621,432
Creditors amounts falling due within one year7(41,718)(59,931)
Net current assets (liabilities)586,502561,501
Total assets less current liabilities2,862,4772,837,476
Creditors amounts falling due after one year8(2,136,813)(1,967,576)
Provisions for liabilities(103,755)(103,755)
Net assets621,909766,145
Capital and reserves
Called up share capital22
Revaluation reserve546,077546,077
Profit and loss account75,830220,066
Shareholders' funds10621,909766,145
The financial statements were approved and authorised for issue by the Board of Directors on 24 September 2024, and are signed on its behalf by:
NOAR, Matthew David
Director
NOAR, Stephen John
Director

Registered Company No. 03683472
FIELDDAILY LIMITED
Notes to the Financial Statements
for the year ended 30 April 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Interest income
Interest income is recognised using the effective interest rate method.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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 reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
2.Average number of employees

20242023
Average number of employees during the year00
3.Deferred tax
Increases in the UK Corporation tax rate from 19% to 25% (19% effective from 1 April 2017, and 25% effective from 1 April 2023) have been substantively enacted. This will impact the company's future tax charge accordingly. The value of the deferred tax assets at the balance sheet date has been calculated using the applicable rate when the asset is expected to be realised.
4.Tangible fixed assets

Total

£
Cost or valuation
At 01 May 23850,000
At 30 April 24850,000
Net book value
At 30 April 24850,000
At 30 April 23850,000
5.Fixed asset investments

Total

£
Cost or valuation
At 01 May 231,425,975
At 30 April 241,425,975
Net book value
At 30 April 241,425,975
At 30 April 231,425,975
6.Debtors: amounts due after one year
Long term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
7.Creditors: amounts due within one year

2024

2023

££
Taxation and social security40,21858,431
Accrued liabilities and deferred income1,5001,500
Total41,71859,931
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method
8.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts687,245742,542
Other creditors1,449,5681,225,034
Total2,136,8131,967,576
Long term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
9.Creditors: amounts due after 5 years
Long term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
10.Revaluation reserve

£
Reserve at 01 May 23546,077
At 30 April 24546,077