Accounts filed on 31-12-2014
Accounts filed on 31-12-2014
trueFreshfield Properties Limited014716582014-12-31-92309-88212-72576-68479105001050092339233-72576-68479-72576-68479-89562-85392102969971461340711754838078055027394916986169131698616913Basis of accounting
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of certain fixed assets, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
Turnover
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.
Depreciation
Short leasehold properties are revalued on an annual basis and therefore no depreciation is charged on these assets.
Work in progress
Work in progress is valued at the lower of cost and net realisable value.
Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.
In the case of work in progress, cost consists of the actual purchase consideration plus acquisition expenses, direct materials and labour, interest payable on loans and attributable overheads.
Long term work in progress is stated at cost plus attributable profits less foreseeable losses and progress payments receivable. Attributable profit is that part of the total profit estimated to arise over the duration of each contract which fairly reflects the profit attributable to the work performed by the balance sheet date. A foreseeable loss is that which is currently estimated to arise over the duration of a contract, irrespective of the amount of work carried out at the balance sheet date.
Deferred taxation
Deferred tax is provided in full on timing differences which result in an obligation at the
balance sheet date to pay more tax, or a right to pay less tax, at a future date, at rates expected to apply when they crystallise based on current tax rates and law. Deferred tax assets are recognised to the extent that it is regarded as more likely than not
they will be recovered. Deferred tax assets and liabilities are not discounted.
Fixed Assets
All fixed assets are initially recorded at cost.
Financial Instruments
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 entity after deducting all of its financial liabilities.
Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.
Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
Plant & MachineryOn cost0.3300Fixtures & FittingsOn cost0.20001735057267374-4029136440354114-401041735057267374-4029136440354-40104114Ordinary3000013000030000Ordinary11050010500105002015-09-11Mr P A Goochtruetruetruetruexbrli:sharesiso4217:GBPxbrli:pureFreshfield Properties Limited2014-01-012014-12-31Freshfield Properties Limited2013-01-012013-12-31Freshfield Properties Limited2012-12-31Freshfield Properties Limited2013-12-31Freshfield Properties Limited2013-12-31Freshfield Properties Limited2014-12-31 2015-09-14
