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REGISTERED NUMBER: 06158241 (England and Wales)













Financial Statements

for the Year Ended 30 April 2024

for

Fresh from the Fields Limited

Fresh from the Fields Limited (Registered number: 06158241)






Contents of the Financial Statements
for the year ended 30 April 2024




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


Fresh from the Fields Limited

Company Information
for the year ended 30 April 2024







DIRECTORS: Mr G F Willows
Mrs S Willows
Mr G Willows



SECRETARY: Mrs S Willows



REGISTERED OFFICE: Lodge Farm
Thorney
NEWARK
Nottinghamshire
NG23 7BX



REGISTERED NUMBER: 06158241 (England and Wales)



ACCOUNTANTS: Nicholsons
Chartered Accountants
Newland House
The Point
Weaver Road
LINCOLN
Lincolnshire
LN6 3QN



BANKERS: Lloyds Bank Plc
202 High Street
LINCOLN
Lincolnshire
LN5 7AP

Fresh from the Fields Limited (Registered number: 06158241)

Abridged Statement of Financial Position
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 93,120 96,603
93,120 96,603

CURRENT ASSETS
Stocks 22,000 25,000
Debtors 128,796 143,092
Cash at bank and in hand 19,930 29,440
170,726 197,532
CREDITORS
Amounts falling due within one year 149,050 239,971
NET CURRENT ASSETS/(LIABILITIES) 21,676 (42,439 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

114,796

54,164

CREDITORS
Amounts falling due after more than
one year

(83,384

)

(57,935

)

PROVISIONS FOR LIABILITIES (23,630 ) (8,504 )
NET ASSETS/(LIABILITIES) 7,782 (12,275 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 7,682 (12,375 )
SHAREHOLDERS' FUNDS 7,782 (12,275 )

Fresh from the Fields Limited (Registered number: 06158241)

Abridged Statement of Financial Position - continued
30 April 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Statement of Financial Position for the year ended 30 April 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 31 January 2025 and were signed on its behalf by:





Mr G F Willows - Director


Fresh from the Fields Limited (Registered number: 06158241)

Notes to the Financial Statements
for the year ended 30 April 2024

1. STATUTORY INFORMATION

Fresh from the Fields 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.

Critical accounting judgements and key sources of estimation uncertainty
Estimates and judgements are continually evaluated by the directors and are based on historical experience and other relevant factors, including expectations of future events that are believed to be reasonable under the circumstances.

Tangible fixed asset lives and residual values
The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. Judgement is applied in determining the residual values of fixed assets by assessing the amount that the company would currently obtain for disposing of the asset in the condition it is expected to be in at the end of its useful life. The estimation of useful lives is based on historic performance as well as expectations about future use. Useful lives are reviewed to reflect current estimates of technological advancement, future investment policy, economic utilisation and the physical condition of the asset.

Tangible fixed assets acquired on finance agreements are depreciated over the lease term even when the intention is to use them for a longer period. The estimate of residual value at the end of the lease is based on what the depreciated amount would have been at this date if the asset was depreciated over its useful life using a residual value at the end of its useful life.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2007, was amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 10% on cost
Plant and machinery - 15% on reducing balance and Straight line over 10 years
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

Fresh from the Fields Limited (Registered number: 06158241)

Notes to the Financial Statements - continued
for the year ended 30 April 2024

2. ACCOUNTING POLICIES - continued

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

Financial instruments
Only basic financial instruments as defined in FRS 102 are held. Financial assets and financial liabilities are recognised in the accounts only when the entity becomes party to the contractual provisions of the instrument and their measurement basis is as follows:

Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments.

Cash at bank is classified as a basic financial instrument and is measured at transaction price.

Financial liabilities - trade creditors, accruals and other creditors are basic financial instruments, and are measured at amortised cost. Where a financial liability constitutes a financing transaction it is initially and subsequently measured at the present value of future payments, discounted at a market rate of interest.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Fresh from the Fields Limited (Registered number: 06158241)

Notes to the Financial Statements - continued
for the year ended 30 April 2024

2. ACCOUNTING POLICIES - continued

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 7 (2023 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 May 2023
and 30 April 2024 75,000
AMORTISATION
At 1 May 2023
and 30 April 2024 75,000
NET BOOK VALUE

At 30 April 2024 -
At 30 April 2023 -

Fresh from the Fields Limited (Registered number: 06158241)

Notes to the Financial Statements - continued
for the year ended 30 April 2024

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 May 2023 245,603
Additions 36,895
Disposals (23,717 )
At 30 April 2024 258,781
DEPRECIATION
At 1 May 2023 149,000
Charge for year 29,816
Eliminated on disposal (13,155 )
At 30 April 2024 165,661
NET BOOK VALUE
At 30 April 2024 93,120
At 30 April 2023 96,603

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

Totals
£   
COST
At 1 May 2023 150,889
Additions 34,495
Disposals (23,717 )
At 30 April 2024 161,667
DEPRECIATION
At 1 May 2023 70,018
Charge for year 24,763
Eliminated on disposal (13,155 )
At 30 April 2024 81,626
NET BOOK VALUE
At 30 April 2024 80,041
At 30 April 2023 80,871

Fresh from the Fields Limited (Registered number: 06158241)

Notes to the Financial Statements - continued
for the year ended 30 April 2024

6. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 17,453 20,628
Between one and five years 52,292 57,935
69,745 78,563

Non-cancellable operating leases
2024 2023
£    £   
Within one year 5,600 8,550

The above hire purchase contracts are secured debts against the assets to which they relate.

7. RELATED PARTY DISCLOSURES

Included within creditors falling due within one year is a directors loan account balance of £31,093 (2023: £29,575). This loan is unsecured and interest free.