Field Engineering Services Limited
Registered number: SC129512
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 393,485 310,000
Current assets
Debtors 4 378,319 231,092
Cash at bank and in hand 1,569,755 1,182,953
1,948,074 1,414,045
Creditors: amounts falling due within one year 5 (525,874) (353,003)
Net current assets 1,422,200 1,061,042
Total assets less current liabilities 1,815,685 1,371,042
Creditors: amounts falling due after more than one year 6 (67,825) (55,137)
Net assets 1,747,860 1,315,905
Capital and reserves
Called up share capital 2,000 2,000
Profit and loss account 1,745,860 1,313,905
Shareholders' funds 1,747,860 1,315,905
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Keith Gray
Director
Approved by the board on 22 December 2024
Field Engineering Services Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
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.
Turnover
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. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 4 4
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2023 779,440 144,793 924,233
Additions 164,787 47,282 212,069
At 31 March 2024 944,227 192,075 1,136,302
Depreciation
At 1 April 2023 529,440 84,793 614,233
Charge for the year 98,584 30,000 128,584
At 31 March 2024 628,024 114,793 742,817
Net book value
At 31 March 2024 316,203 77,282 393,485
At 31 March 2023 250,000 60,000 310,000
4 Debtors 2024 2023
£ £
Trade debtors 378,319 231,092
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 234,501 236,463
Corporation tax 132,825 50,681
Other taxes and social security costs 40,991 -
Accruals 67,557 -
Other creditors 50,000 65,859
525,874 353,003
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 6,327 9,127
Obligations under finance lease and hire purchase contracts 61,498 46,010
67,825 55,137
7 Other information
Field Engineering Services Limited is a private company limited by shares and incorporated in Scotland.N125 Its registered office is:
2 Westwood Park
Kinellar
Aberdeen
Scotland
AB21 0JS
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