Field Irrigation Limited

Contents

Statement of Financial Position	1
Notes to the Unaudited Financial Statements	2 to 8

Field Irrigation Limited

(Registration number: 03434454)
Statement of Financial Position as at 31 December 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	5	39,656	51,742
Current assets
Stocks	6	15,719	12,609
Debtors	7	222,255	298,693
Cash at bank and in hand		182,141	102,143
		420,115	413,445
Creditors: Amounts falling due within one year	8	(321,847)	(349,611)
Net current assets		98,268	63,834
Total assets less current liabilities		137,924	115,576
Provisions for liabilities		(4,168)	(6,823)
Net assets		133,756	108,753
Capital and reserves
Called up share capital		60	60
Share premium reserve		-	99,933
Capital redemption reserve		-	107
Profit and loss account		133,696	8,653
Shareholders' funds		133,756	108,753

For the financial year ending 31 December 2025 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the Board on 6 May 2026 and signed on its behalf by:
 

C I O'Nions Director

Field Irrigation Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
32 Dalcross
Bracknell
RG12 0UJ
England

Principal activity

The principal activity of the company is the supply of irrigation equipment to the horticultural, landscape and amenity sectors.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling which is the functional currency of the entity.

Field Irrigation Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025 (continued)

2	Accounting policies (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Field Irrigation Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025 (continued)

2	Accounting policies (continued)

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Equipment	25% written down value
Motor vehicles	25% written down value
Computer equipment	3 years straight line

Impairment

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.

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Goodwill	10 years straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Field Irrigation Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025 (continued)

2	Accounting policies (continued)

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Costs include all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition. .

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes 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.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2024 - 4).

Field Irrigation Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025 (continued)

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 January 2025	36,500	36,500
At 31 December 2025	36,500	36,500
Amortisation
At 1 January 2025	36,500	36,500
At 31 December 2025	36,500	36,500
Carrying amount
At 31 December 2025	-	-

5	Tangible assets

	Equipment £	Computer equipment £	Motor vehicles  £	Total £
Cost or valuation
At 1 January 2025	339	8,506	99,481	108,326
Additions	5,795	742	-	6,537
At 31 December 2025	6,134	9,248	99,481	114,863
Depreciation
At 1 January 2025	322	6,841	49,421	56,584
Charge for the year	1,455	1,194	15,974	18,623
At 31 December 2025	1,777	8,035	65,395	75,207
Carrying amount
At 31 December 2025	4,357	1,213	34,086	39,656
At 31 December 2024	17	1,665	50,060	51,742

Field Irrigation Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025 (continued)

6

Stocks

	2025 £	2024 £
Raw materials and consumables	15,719	12,609

7

Debtors

	2025 £	2024 £
Trade debtors	214,495	292,669
Other debtors	2,043	-
Prepayments	5,717	6,024
	222,255	298,693

8

Creditors

Creditors: amounts falling due within one year

	2025 £	2024 £
Due within one year
Trade creditors	251,995	297,468
Taxation and social security	34,233	26,832
Accruals and deferred income	35,106	24,846
Other creditors	513	465
	321,847	349,611

Field Irrigation Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025 (continued)

9

Reserves

Profit and loss account

The profit and loss account represents cumulative profits and losses, net of dividends paid and other adjustments.


Share premium account

The share premium account includes the premium on issue of equity shares, net of any issue costs.


Capital redemption reserve

This reserve records the nominal value of the company's own shares purchased by the company out of distributable profits.


Capital reduction

On 24/11/25 the Company underwent a capital reduction of £100,040. As a result the balance on the share premium reserve (£99,933) and the capital redemption reserve (£107) were transferred to the profit and loss reserve.