FARFIELDS IOT LTD

Company Registration Number:
14235453 (England and Wales)

Unaudited abridged accounts for the year ended 31 July 2024

Period of accounts

Start date: 01 August 2023

End date: 31 July 2024

FARFIELDS IOT LTD

Contents of the Financial Statements

for the Period Ended 31 July 2024

Company Information - 3
Balance sheet - 4
Additional notes - 6
Balance sheet notes - 9

FARFIELDS IOT LTD

Company Information

for the Period Ended 31 July 2024




Registered office: 133
The Nettlefolds
Hadley
Telford
England
TF1 5PG
Company Registration Number: 14235453 (England and Wales)

FARFIELDS IOT LTD

Balance sheet

As at 31 July 2024


Notes

2024
£
13 months to
31 Jul 2023
£
Fixed assets
Intangible assets: 4 30,352 36,430
Total fixed assets: 30,352 36,430
Current assets
Cash at bank and in hand: 3,299 824
Total current assets: 3,299 824
Creditors: amounts falling due within one year: ( 9,277 ) ( 28,900 )
Net current assets (liabilities): ( 5,978 ) ( 28,076 )
Total assets less current liabilities: 24,374 8,354
Total net assets (liabilities): 24,374 8,354

The notes form part of these financial statements

FARFIELDS IOT LTD

Balance sheet continued

As at 31 July 2024


Notes

2024
£
13 months to
31 Jul 2023
£
Capital and reserves
Called up share capital: 120 120
Profit and loss account: 24,254 8,234
Shareholders funds: 24,374 8,354

For the year ending 31 July 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 12 March 2025
And Signed On Behalf Of The Board By:

Name: Anthony John McDermott
Status: Director

The notes form part of these financial statements

FARFIELDS IOT LTD

Notes to the Financial Statements

for the Period Ended 31 July 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover
    Turnover is measured at the fair value of tte consideration received or receivable, net of discounts and value added taxes.

    Sale of Goods
    Turnover from the sale of goods is recognised when the significant risks and rewards of ownership has transferred to the buyer. This is usually at the time that the customer has accepted delivery of goods.

    Supply of Services
    Turnover from the supply of services is apportioned by reference to the stage of completion of the relevant contract. The stage of completion is measured by comparing the costs incurred for the project work completed at that date to the total project costs as estimated or quoted. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be esimated reliably.

    Intangible fixed assets amortisation policy

    The development phase of a project is recognsed as intangible assets only if certain conditions are met that can demonstrate that the asset will generate probable future economic benefit to the company. The capitalised development costs are subsequently amortised on a straight line bases over their expected economic life, usually of five years and exceptionally to fifteen years.

FARFIELDS IOT LTD

Notes to the Financial Statements

for the Period Ended 31 July 2024

  • 2. Employees


    2024
    13 months to
    31 Jul 2023
    Average number of employees during the period 1 1

FARFIELDS IOT LTD

Notes to the Financial Statements

for the Period Ended 31 July 2024

  • 3. Off balance sheet disclosure

    No

FARFIELDS IOT LTD

Notes to the Financial Statements

for the Period Ended 31 July 2024

  • 4. Intangible assets

    Total
    Cost £
    At 01 August 2023 39,032
    Additions 2,160
    Disposals (0)
    Revaluations 0
    Transfers 0
    At 31 July 2024 41,192
    Amortisation
    Amortisation at 01 August 2023 2,602
    Charge for year 8,238
    On disposals -
    Other adjustments -
    Amortisation at 31 July 2024 10,840
    Net book value
    Net book value at 31 July 2024 30,352
    Net book value at 31 July 2023 36,430