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REGISTERED NUMBER: 10178678 (England and Wales)















A J Fields Limited

Unaudited Financial Statements

for the year ended

31 March 2024






A J Fields Limited (Registered number: 10178678)

Contents of the Financial Statements
for the year ended 31 March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 5


A J Fields Limited

Company Information
for the year ended 31 March 2024







DIRECTOR: A J Fields





REGISTERED OFFICE: Yare House
62-64 Thorpe Road
Norwich
Norfolk
NR1 1RY





REGISTERED NUMBER: 10178678 (England and Wales)





ACCOUNTANTS: TC Group
Accountants
Yare House
62-64 Thorpe Road
Norwich
Norfolk
NR1 1RY

A J Fields Limited (Registered number: 10178678)

Balance Sheet
31 March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 15,675 4,248

CURRENT ASSETS
Stocks 6,500 6,000
Debtors 5 38,555 52,256
Cash at bank and in hand 14,768 20,581
59,823 78,837
CREDITORS
Amounts falling due within one year 6 (22,689 ) (41,329 )
NET CURRENT ASSETS 37,134 37,508
TOTAL ASSETS LESS CURRENT LIABILITIES 52,809 41,756

CREDITORS
Amounts falling due after more than one year 7 (8,853 ) (1,078 )

PROVISIONS FOR LIABILITIES (2,978 ) (807 )
NET ASSETS 40,978 39,871

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings 40,968 39,861
SHAREHOLDERS' FUNDS 40,978 39,871

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 13 December 2024 and were signed by:





A J Fields - Director


A J Fields Limited (Registered number: 10178678)

Notes to the Financial Statements
for the year ended 31 March 2024


1. STATUTORY INFORMATION

A J 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 provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on a going concern basis on the understanding that the company will continue to receive the financial support of the directors.

The company meets its day-to-day working capital requirements through the provision of an overdraft facility and the support from the directors.

The financial statements do not include any adjustments that would result from a withdrawal of support from its directors.

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 each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on cost
Motor vehicles - 25% on cost

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

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.

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.

A J Fields Limited (Registered number: 10178678)

Notes to the Financial Statements - continued
for the year ended 31 March 2024


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 April 2023 5,029 11,995 17,024
Additions 810 16,650 17,460
Disposals - (11,995 ) (11,995 )
At 31 March 2024 5,839 16,650 22,489
DEPRECIATION
At 1 April 2023 5,029 7,747 12,776
Charge for year 51 1,734 1,785
Eliminated on disposal - (7,747 ) (7,747 )
At 31 March 2024 5,080 1,734 6,814
NET BOOK VALUE
At 31 March 2024 759 14,916 15,675
At 31 March 2023 - 4,248 4,248

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2023 11,995
Additions 16,650
Disposals (11,995 )
At 31 March 2024 16,650
DEPRECIATION
At 1 April 2023 7,747
Charge for year 1,734
Eliminated on disposal (7,747 )
At 31 March 2024 1,734
NET BOOK VALUE
At 31 March 2024 14,916
At 31 March 2023 4,248

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 976 870
Other debtors 37,579 51,386
38,555 52,256

A J Fields Limited (Registered number: 10178678)

Notes to the Financial Statements - continued
for the year ended 31 March 2024


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 3,320 1,848
Trade creditors 7,162 15,525
Taxation and social security 8,832 19,896
Other creditors 3,375 4,060
22,689 41,329

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 8,853 1,078

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 12,173 2,926

Hire purchase contracts are secured on the asset concerned.

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
A J Fields
Balance outstanding at start of year 48,036 38,936
Amounts advanced 35,992 48,199
Amounts repaid (50,205 ) (39,099 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 33,823 48,036

Interest is being charged on the loan at the official rate of 2.25% (2023: 2.00%).