The LOFAR Two-metre Sky Survey: Deep Fields data release 1. V. Survey description, source classifications, and host galaxy properties by Best, PN, Kondapally, R, Williams, WL, Cochrane, RK, Duncan, KJ, Hale, CL, Haskell, P, Małek, K, McCheyne, I, Smith, DJB, Wang, L, Botteon, A, Bonato, M, Bondi, M, Rivera, GC, Gao, F, Gürkan, G, Hardcastle, MJ, Jarvis, MJ, Mingo, B, Miraghaei, H, Morabito, LK, Nisbet, D, Prandoni, I, Röttgering, HJA, Sabater, J, Shimwell, T, Tasse, C, van Weeren, R