COMPANY REGISTRATION NUMBER:
14063379
|
Fields Park Productions Limited |
|
|
Filleted Unaudited Financial Statements |
|
|
Fields Park Productions Limited |
|
|
Statement of Financial Position |
|
31 December 2024
Fixed assets
|
Intangible assets |
4 |
367,325 |
367,325 |
|
|
|
|
Current assets
|
Debtors |
5 |
4,960 |
2,400 |
|
Cash at bank and in hand |
4,602 |
3,700 |
|
------- |
------- |
|
9,562 |
6,100 |
|
|
|
|
|
Creditors: amounts falling due within one year |
6 |
27,250 |
960 |
|
-------- |
------- |
|
Net current (liabilities)/assets |
(
17,688) |
5,140 |
|
--------- |
--------- |
|
Total assets less current liabilities |
349,637 |
372,465 |
|
|
|
|
|
Creditors: amounts falling due after more than one year |
7 |
397,325 |
397,325 |
|
--------- |
--------- |
|
Net liabilities |
(
47,688) |
(
24,860) |
|
--------- |
--------- |
|
|
|
|
Capital and reserves
|
Called up share capital |
100 |
100 |
|
Profit and loss account |
(
47,788) |
(
24,960) |
|
-------- |
-------- |
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Shareholders deficit |
(
47,688) |
(
24,860) |
|
-------- |
-------- |
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|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 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 financial statements for the year in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
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Fields Park Productions Limited |
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Statement of Financial Position (continued) |
|
31 December 2024
These financial statements were approved by the
board of directors
and authorised for issue on
30 September 2025
, and are signed on behalf of the board by:
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Miss M R Higgins |
|
Director |
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Company registration number:
14063379
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Fields Park Productions Limited |
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Notes to the Financial Statements |
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Year ended 31 December 2024
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 19 Fields Park Road, Newport, NP20 5BA.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The directors consider the company to be a going concern having regard to the future prospects of the company. The company will be supported by its parent company Fields Park Holdings Limited. The intercompany loan is not repayable within the next 12 months.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Research and development
Research expenditure is written off in the period in which it is incurred. Development expenditure incurred is capitalised as an intangible asset only when all of the following criteria are met: - It is technically feasible to complete the intangible asset so that it will be available for use or sale; - There is the intention to complete the intangible asset and use or sell it; - There is the ability to use or sell the intangible asset; - The use or sale of the intangible asset will generate probable future economic benefits; - There are adequate technical, financial and other resources available to complete the development and to use or sell the intangible asset; and - The expenditure attributable to the intangible asset during its development can be measured reliably. Expenditure that does not meet the above criteria is expensed as incurred.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4.
Intangible assets
|
Development costs |
|
£ |
|
Cost |
|
|
At 1 January 2024 and 31 December 2024 |
367,325 |
|
--------- |
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Amortisation |
|
|
At 1 January 2024 and 31 December 2024 |
– |
|
--------- |
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Carrying amount |
|
|
At 31 December 2024 |
367,325 |
|
--------- |
|
At 31 December 2023 |
367,325 |
|
--------- |
|
|
The ownership of these development costs was transferred from Fields Park Holdings, a fellow member of the Fields Park group during the financial year.
5.
Debtors
|
2024 |
2023 |
|
£ |
£ |
|
Other debtors |
4,960 |
2,400 |
|
------- |
------- |
|
|
|
6.
Creditors:
amounts falling due within one year
|
2024 |
2023 |
|
£ |
£ |
|
Trade creditors |
14,400 |
– |
|
Other creditors |
12,850 |
960 |
|
-------- |
---- |
|
27,250 |
960 |
|
-------- |
---- |
|
|
|
7.
Creditors:
amounts falling due after more than one year
|
2024 |
2023 |
|
£ |
£ |
|
Intercompany - Fields Park Holdings Limited |
397,325 |
397,325 |
|
--------- |
--------- |
|
|
|
8.
Controlling party
The company is a 75% owned subsidiary of Fields Park Holdings Limited, company number 13768477, registered office 19 Fields Park Road, Newport, NP20 5BA, a company incorporated in England & Wales.