Registered number
06781048
Fieldarm Limited
Report and Accounts
31 December 2024
Fieldarm Limited
Registered number: 06781048
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 38,658 46,998
Current assets
Debtors 4 571,423 650,693
Cash at bank and in hand 82,198 49,979
653,621 700,672
Creditors: amounts falling due within one year 5 (95,859) (139,109)
Net current assets 557,762 561,563
Total assets less current liabilities 596,420 608,561
Creditors: amounts falling due after more than one year 6 (9,612) (29,009)
Net assets 586,808 579,552
Capital and reserves
Called up share capital 20 20
Profit and loss account 586,788 579,532
Shareholders' funds 586,808 579,552
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
I Haigh
Director
Approved by the board on 17 March 2025
Fieldarm Limited
Notes to the Accounts
for the year ended 31 December 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 20% reducing balance
Fixtures, fittings, tools and equipment over 5 years
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 6 6
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2024 147,755
Additions 1,297
At 31 December 2024 149,052
Depreciation
At 1 January 2024 100,757
Charge for the year 9,637
At 31 December 2024 110,394
Net book value
At 31 December 2024 38,658
At 31 December 2023 46,998
4 Debtors 2024 2023
£ £
Trade debtors 61,423 240,693
Amounts owed by group companies 510,000 410,000
571,423 650,693
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 12,431 -
Obligations under finance lease and hire purchase contracts 29,009 11,537
Trade creditors 6,786 68,224
Corporation tax 23,710 30,481
Other taxes and social security costs 22,649 25,866
Other creditors 1,274 3,001
95,859 139,109
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 9,612 -
Obligations under finance lease and hire purchase contracts - 29,009
9,612 29,009
7 Other information
Fieldarm Limited is a private company limited by shares and incorporated in England. Its registered office is:
Willowfields
The Street
Ramsey, Harwich
Essex
CO12 5HL
On 23 July 2020 Peter Duncan resigned as a director of Fieldarm Limited and his shares were
purchased by Fieldarm Holdings Ltd. Under the terms of the arrangement £100,000 was paid
per year. The final instalment was paid in July 2024.
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