C D FAIRFIELD CAPITAL LIMITED

C D FAIRFIELD CAPITAL LIMITED

C D FAIRFIELD CAPITAL LIMITED - Company Information

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C D FAIRFIELD CAPITAL LIMITED

Company Registration Number:
NI610487 (Northern Ireland)

Unaudited abridged accounts for the year ended 27 December 2021

Period of accounts

Start date: 30 December 2020

End date: 27 December 2021

C D FAIRFIELD CAPITAL LIMITED

Contents of the Financial Statements

for the Period Ended 27 December 2021

Balance sheet
Notes

C D FAIRFIELD CAPITAL LIMITED

Balance sheet

As at 27 December 2021


Notes
2021
2020


£
£
Fixed assets
Tangible assets: 3 21,849 8,803
Total fixed assets: 21,849 8,803
Current assets
Debtors:   262,215 248,491
Cash at bank and in hand: 167,750 243,491
Total current assets: 429,965 491,982
Creditors: amounts falling due within one year:   (383,084) (229,575)
Net current assets (liabilities): 46,881 262,407
Total assets less current liabilities: 68,730 271,210
Creditors: amounts falling due after more than one year:   (47,658) (112,119)
Provision for liabilities: (1,673) (1,673)
Total net assets (liabilities): 19,399 157,418
Capital and reserves
Called up share capital: 1,000 1,000
Profit and loss account: 18,399 156,418
Shareholders funds: 19,399 157,418

The notes form part of these financial statements

C D FAIRFIELD CAPITAL LIMITED

Balance sheet statements

For the year ending 27 December 2021 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 23 January 2023
and signed on behalf of the board by:

Name: Mr P Davison
Status: Director

The notes form part of these financial statements

C D FAIRFIELD CAPITAL LIMITED

Notes to the Financial Statements

for the Period Ended 27 December 2021

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Revenue recognitionTurnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts.

Tangible fixed assets and depreciation policy

Tangible assetsTangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.DepreciationDepreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:Fixtures & fittings-20% straight lineEquipment-50% straight lineImpairment of fixed assetsA 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.

Valuation and information policy

Government grantsGovernment grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.ProvisionsProvisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Other accounting policies

Financial instrumentsFor financial instruments measured at fair value, the basis for determining fair value must be disclosed. When a valuation technique is used, the assumptions applied in determining fair value for each class of financial assets or financial liabilities must be disclosed. If a reliable measure of fair value is no longer available for ordinary or preference shares measured at fair value through profit or loss, this must also be disclosed.Defined contribution plansContributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.TaxationThe taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.

C D FAIRFIELD CAPITAL LIMITED

Notes to the Financial Statements

for the Period Ended 27 December 2021

2. Employees

2021 2020
Average number of employees during the period 16 16

C D FAIRFIELD CAPITAL LIMITED

Notes to the Financial Statements

for the Period Ended 27 December 2021

3. Tangible Assets

Total
Cost £
At 30 December 2020 29,389
Additions 28,245
At 27 December 2021 57,634
Depreciation
At 30 December 2020 20,586
Charge for year 15,199
At 27 December 2021 35,785
Net book value
At 27 December 2021 21,849
At 29 December 2020 8,803

C D FAIRFIELD CAPITAL LIMITED

Notes to the Financial Statements

for the Period Ended 27 December 2021

4. Loans to directors

During the year the director, Mr Tom Cardwell, repaid net loans of £6,622 to the company. The balance owing to the director at the end of the year is £51 (2020: £6,571 owed to the company). These loans are repayable on demand and are interest free.