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REGISTERED NUMBER: 03834232 (England and Wales)











Unaudited Financial Statements

for the Year Ended 29 April 2024

for

Father's Field Developments Limited

Father's Field Developments Limited (Registered number: 03834232)






Contents of the Financial Statements
for the year ended 29 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Father's Field Developments Limited

Company Information
for the year ended 29 April 2024







DIRECTORS: T Barker Smith
J M Smith





SECRETARY: J M Smith





REGISTERED OFFICE: Warden House
37 Manor Road
Colchester
Essex
CO3 3LX





REGISTERED NUMBER: 03834232 (England and Wales)





ACCOUNTANTS: Tile & Co Essex Ltd
Warden House
37 Manor Road
Colchester
Essex
CO3 3LX

Father's Field Developments Limited (Registered number: 03834232)

Balance Sheet
29 April 2024

29.4.24 29.4.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,590,057 2,208,684

CURRENT ASSETS
Stocks 98,033 89,423
Debtors 5 13,470 47,808
Cash at bank and in hand 72,162 238,858
183,665 376,089
CREDITORS
Amounts falling due within one year 6 370,993 364,952
NET CURRENT (LIABILITIES)/ASSETS (187,328 ) 11,137
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,402,729

2,219,821

CREDITORS
Amounts falling due after more than one
year

7

(1,238,131

)

(1,255,564

)

PROVISIONS FOR LIABILITIES (111,709 ) (99,585 )
NET ASSETS 1,052,889 864,672

CAPITAL AND RESERVES
Called up share capital 400,270 400,270
Retained earnings 652,619 464,402
SHAREHOLDERS' FUNDS 1,052,889 864,672

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 April 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.

Father's Field Developments Limited (Registered number: 03834232)

Balance Sheet - continued
29 April 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 Income Statement has not been delivered.

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




J M Smith - Director



T Barker Smith - Director


Father's Field Developments Limited (Registered number: 03834232)

Notes to the Financial Statements
for the year ended 29 April 2024

1. STATUTORY INFORMATION

Father's Field Developments 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

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
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings - 10% on cost and 2% on cost
Plant and machinery etc - 33% on cost, 20% on cost and 12.5% on cost

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible
preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Father's Field Developments Limited (Registered number: 03834232)

Notes to the Financial Statements - continued
for the year ended 29 April 2024

2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2023 - 20 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 30 April 2023 2,302,652 931,147 3,233,799
Additions 455,677 115,909 571,586
Disposals (77,484 ) (16,835 ) (94,319 )
At 29 April 2024 2,680,845 1,030,221 3,711,066
DEPRECIATION
At 30 April 2023 367,082 658,033 1,025,115
Charge for year 25,025 72,585 97,610
Eliminated on disposal - (1,716 ) (1,716 )
At 29 April 2024 392,107 728,902 1,121,009
NET BOOK VALUE
At 29 April 2024 2,288,738 301,319 2,590,057
At 29 April 2023 1,935,570 273,114 2,208,684

Father's Field Developments Limited (Registered number: 03834232)

Notes to the Financial Statements - continued
for the year ended 29 April 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 30 April 2023 99,012
Additions 64,440
Transfer to ownership (5,012 )
At 29 April 2024 158,440
DEPRECIATION
At 30 April 2023 10,564
Charge for year 18,463
Transfer to ownership (501 )
At 29 April 2024 28,526
NET BOOK VALUE
At 29 April 2024 129,914
At 29 April 2023 88,448

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.4.24 29.4.23
£    £   
Trade debtors - 38,468
Other debtors 13,470 9,340
13,470 47,808

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.4.24 29.4.23
£    £   
Bank loans and overdrafts 9,091 -
Hire purchase contracts 32,379 21,851
Trade creditors 60,279 55,492
Taxation and social security 150,202 141,722
Other creditors 119,042 145,887
370,993 364,952

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
29.4.24 29.4.23
£    £   
Bank loans 250,186 -
Hire purchase contracts 32,509 35,406
Other creditors 955,436 1,220,158
1,238,131 1,255,564

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 205,136 -

Father's Field Developments Limited (Registered number: 03834232)

Notes to the Financial Statements - continued
for the year ended 29 April 2024

8. SECURED DEBTS

The following secured debts are included within creditors:

29.4.24 29.4.23
£    £   
Bank loans 259,277 -
Hire purchase contracts 64,888 57,257
324,165 57,257

The bank loan is secured by way of a legal charge over 33 Rogers Avenue, Earls Colne and a fixed & floating charge over the other assets of the company.

The hire purchase liabilities are secured on the assets to which they relate.

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the year end the company owed £941,665 to the director J M Smith (2023 £1,213,249). The loan to the company is unsecured, interest free and repayable as detailed below.

on demand: £nil (2023 £nil)
in over 1 year: £941,665 (2023 £1,213,249)

At the year end the company owed £13,771 to the director T Smith (2023 £6,910). The loan to the company is unsecured, interest free and repayable as detailed below.

on demand: £nil (2023 £nil)
in over 1 year: £13,771 (2023 £6,910)