Caseware UK (AP4) 2023.0.135 2023.0.135 2024-07-312024-07-31falsefalse12023-07-24No description of principal activitytrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 15025250 2023-07-23 15025250 2023-07-24 2024-07-31 15025250 2022-07-24 2023-07-23 15025250 2024-07-31 15025250 c:Director1 2023-07-24 2024-07-31 15025250 d:OfficeEquipment 2023-07-24 2024-07-31 15025250 d:OfficeEquipment 2024-07-31 15025250 d:CurrentFinancialInstruments 2024-07-31 15025250 d:CurrentFinancialInstruments d:WithinOneYear 2024-07-31 15025250 d:ShareCapital 2024-07-31 15025250 d:RetainedEarningsAccumulatedLosses 2024-07-31 15025250 c:OrdinaryShareClass1 2023-07-24 2024-07-31 15025250 c:OrdinaryShareClass1 2024-07-31 15025250 c:FRS102 2023-07-24 2024-07-31 15025250 c:AuditExempt-NoAccountantsReport 2023-07-24 2024-07-31 15025250 c:FullAccounts 2023-07-24 2024-07-31 15025250 c:PrivateLimitedCompanyLtd 2023-07-24 2024-07-31 15025250 e:PoundSterling 2023-07-24 2024-07-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 15025250









FIELD AUTOMOTIVE LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 JULY 2024

 
FIELD AUTOMOTIVE LIMITED
REGISTERED NUMBER: 15025250

STATEMENT OF FINANCIAL POSITION
AS AT 31 JULY 2024

2024
Note
£

Fixed assets
  

Tangible assets
  
700

  
700

Current assets
  

Stocks
  
4,023

Cash at bank and in hand
  
5,836

  
9,859

Creditors: amounts falling due within one year
  
(13,950)

Net current (liabilities)/assets
  
 
 
(4,091)

Total assets less current liabilities
  
(3,391)

  

Net (liabilities)/assets
  
(3,391)


Capital and reserves
  

Called up share capital 
  
1

Profit and loss account
  
(3,392)

  
(3,391)


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 20 February 2025.




Page 1

 
FIELD AUTOMOTIVE LIMITED
REGISTERED NUMBER: 15025250
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JULY 2024

Benjamin Thomas Field
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
FIELD AUTOMOTIVE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JULY 2024

1.


General information

Field Automotive Limited is a private company limited by shares, registered in the United Kingdom number 15025250. Its registered office is 989 Burnley Road, Loveclough, Rossendale BB4 8QL. During the period, the principal activity of the company was that of sale of used cars and light motor vehicles.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 
FIELD AUTOMOTIVE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JULY 2024

2.Accounting policies (continued)


2.3
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Office equipment
-
20%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.4

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is 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.

 
2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.6

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees




The average monthly number of employees, including directors, during the period was 1.

Page 4

 
FIELD AUTOMOTIVE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JULY 2024

4.


Tangible fixed assets





Office equipment

£



Cost or valuation


Additions
700



At 31 July 2024

700






Net book value



At 31 July 2024
700


5.


Cash and cash equivalents

2024
£

Cash at bank and in hand
5,836

5,836



6.


Creditors: Amounts falling due within one year

2024
£

Trade creditors
77

Other creditors
12,673

Accruals and deferred income
1,200

13,950



7.


Share capital

2024
£
Allotted, called up and fully paid


1 Ordinary share of £1.00
1


Page 5

 
FIELD AUTOMOTIVE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JULY 2024

7.Share capital (continued)

During the period 1 ordinary shares of £1 each were issued, called up and fully paid to form the capital base of the company.

 
Page 6