Company registration number 12315908 (England and Wales)
FIELD FARM FRESH LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED
30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
FIELD FARM FRESH LIMITED
CONTENTS
Page
Company information
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 8
FIELD FARM FRESH LIMITED
COMPANY INFORMATION
- 1 -
Directors
Mr. N. Morgan
Mr. L. Morgan
(Appointed 1 May 2023)
Mr. G. Morgan
(Appointed 1 May 2023)
Mr. R. Morgan
(Appointed 1 May 2023)
Company number
12315908
Registered office
Field Farm
Netherton Road
Appleton
Abingdon
Oxfordshire
United Kingdom
OX13 5QW
FIELD FARM FRESH LIMITED
BALANCE SHEET
AS AT 30 JUNE 2024
30 June 2024
- 2 -
2024
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
118,862
120,794
Current assets
Debtors
4
7,213
4,772
Cash at bank and in hand
4,119
5,629
11,332
10,401
Creditors: amounts falling due within one year
5
(155,239)
(146,864)
Net current liabilities
(143,907)
(136,463)
Net liabilities
(25,045)
(15,669)
Capital and reserves
Called up share capital
6
100
100
Profit and loss reserves
(25,145)
(15,769)
Total equity
(25,045)
(15,669)
FIELD FARM FRESH LIMITED
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024
30 June 2024
- 3 -

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial period ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 12 November 2025 and are signed on its behalf by:
Mr. N. Morgan
Director
Company Registration No. 12315908
The notes on pages 4 to 8 form part of these financial statements
FIELD FARM FRESH LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024
- 4 -
1
Accounting policies
Company information

Field Farm Fresh Limited is a private company limited by shares incorporated in England and Wales. The registered office is Field Farm, Netherton Road, Appleton, Abingdon, Oxfordshire, United Kingdom, OX13 5QW.

1.1
Reporting period

The financial statements have been prepared for a period greater than one year, therefore the figures are not entirely comparable.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.3
Going concern

At the balance sheet date the company's liabilities exceeded its assets. The day to day operation of the company is dependent upon support from its director s and related companies. On the assumption that such support will continue to be forthcoming, the director s consider it appropriate to prepare the financial statements on a going concern basis.

1.4
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
Not depreciated
Plant and equipment
20% straight line
FIELD FARM FRESH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 5 -

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

FIELD FARM FRESH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 6 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

2
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2024
2022
Number
Number
Total
0
0
FIELD FARM FRESH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JUNE 2024
- 7 -
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 January 2023 and 30 June 2024
115,000
9,658
124,658
Depreciation and impairment
At 1 January 2023
-
0
3,864
3,864
Depreciation charged in the period
-
0
1,932
1,932
At 30 June 2024
-
0
5,796
5,796
Carrying amount
At 30 June 2024
115,000
3,862
118,862
At 31 December 2022
115,000
5,794
120,794
4
Debtors
2024
2022
Amounts falling due within one year:
£
£
Trade debtors
2,583
142
Amounts owed by group undertakings
271
271
Other debtors
4,359
4,359
7,213
4,772
5
Creditors: amounts falling due within one year
2024
2022
£
£
Trade creditors
-
0
14,909
Other creditors
152,989
130,755
Accruals and deferred income
2,250
1,200
155,239
146,864
FIELD FARM FRESH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JUNE 2024
- 8 -
6
Called up share capital
2024
2022
2024
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
7
Parent company

The immediate parent company is S Morgan & Sons Limited. There is no ultimate controlling party of the parent company.

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