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Registration number: 12554880

FieldGoods Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

FieldGoods Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

FieldGoods Limited

Company Information

Directors

S Day

E H J Day

L Huggler

Registered office

Unit 14 Saxon Business Centre
41 - 59 Windsor Avenue
London
SW19 2RR

Accountants

Headspace Accountancy Ltd
Chartered AccountantsDeep Well House
2 Yarmouth Road
Hales
Norfolk
NR14 6SP

 

FieldGoods Limited

(Registration number: 12554880)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

48,923

53,220

Current assets

 

Stocks

5

33,748

27,500

Debtors

6

49,542

26,416

Cash at bank and in hand

 

91,702

210,389

 

174,992

264,305

Creditors: Amounts falling due within one year

7

(152,193)

(109,400)

Net current assets

 

22,799

154,905

Net assets

 

71,722

208,125

Capital and reserves

 

Called up share capital

8

15

15

Share premium reserve

891,941

766,943

Retained earnings

(820,234)

(558,833)

Shareholders' funds

 

71,722

208,125

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 28 February 2025 and signed on its behalf by:
 

.........................................
E H J Day
Director

 

FieldGoods Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 14 Saxon Business Centre
41 - 59 Windsor Avenue
London
SW19 2RR

These financial statements were authorised for issue by the Board on 28 February 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Vehicles

25% on a reducing balance basis

 

FieldGoods Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Equipment

25% on a reducing balance basis

Improvements to leasehold property

Over the term of the lease

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

FieldGoods Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 8 (2023 - 5).

 

FieldGoods Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 May 2023

60,808

23,000

83,808

Additions

8,645

-

8,645

At 30 April 2024

69,453

23,000

92,453

Depreciation

At 1 May 2023

19,716

10,872

30,588

Charge for the year

9,910

3,032

12,942

At 30 April 2024

29,626

13,904

43,530

Carrying amount

At 30 April 2024

39,827

9,096

48,923

At 30 April 2023

41,092

12,128

53,220

5

Stocks

2024
£

2023
£

Other inventories

33,748

27,500

6

Debtors

Current

2024
£

2023
£

Trade debtors

34,946

15,776

Other debtors

14,596

10,640

 

49,542

26,416

7

Creditors

Creditors: amounts falling due within one year

 

FieldGoods Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

59,999

34,999

Trade creditors

 

-

1,500

Taxation and social security

 

38,823

16,558

Accruals and deferred income

 

1,625

125

Other creditors

 

51,746

56,218

 

152,193

109,400

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £0.00 each

148,915

15

148,915

15

       

9

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Other borrowings

59,999

34,999