Fieldwood Products Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 00449803 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2020

for

Fieldwood Products Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mrs E A Hartfield

J L Hartfield

Miss J M Hartfield

R C W Hartfield

SECRETARY:

Mrs E A Hartfield

REGISTERED OFFICE:

Derngate Mews

Derngate

Northampton

NN1 1UE

REGISTERED NUMBER:

00449803 (England and Wales)

ACCOUNTANTS:

Bean Accounting

Derngate Mews

Derngate

Northampton

Northamptonshire

NN1 1UE

FIXED ASSETS

Tangible assets

4

917,620

917,620

CURRENT ASSETS

Cash at bank

180,480

126,407

CREDITORS

Amounts falling due within one year

5

182,445

265,696

NET CURRENT LIABILITIES

(1,965

)

(139,289

)

TOTAL ASSETS LESS CURRENT LIABILITIES

915,655

778,331

PROVISIONS FOR LIABILITIES

70,030

-

NET ASSETS

845,625

778,331

CAPITAL AND RESERVES

Called up share capital

5,958

5,958

Non Distributable reserve

6

356,304

356,304

Other reserves

400

400

Retained earnings

482,963

415,669

SHAREHOLDERS' FUNDS

845,625

778,331

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 January 2021 and were signed on its behalf by:

R C W Hartfield - Director

1.	STATUTORY INFORMATION

Fieldwood Products Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2019 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2019

and 31 March 2020

917,620

3,189

920,809

DEPRECIATION

At 1 April 2019

and 31 March 2020

-

3,189

3,189

NET BOOK VALUE

At 31 March 2020

917,620

-

917,620

At 31 March 2019

917,620

-

917,620

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Trade creditors

2

2

Taxation and social security

16,436

79,912

Other creditors

166,007

185,782

182,445

265,696

6.

RESERVES

Non

Distributable

reserve

£

At 1 April 2019

and 31 March 2020

356,304

7.	RELATED PARTY DISCLOSURES

The company paid £4680 to RCH Consulting Ltd last year, a company controlled by shareholder Mr R Hartfield.