The Fisher Partnership Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03411875 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2019

FOR

THE FISHER PARTNERSHIP LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J Fisher

R J D Inman

C N Spencer

SECRETARY:

R J D Inman

REGISTERED OFFICE:

10 North Park Road

Harrogate

North Yorkshire

HG1 5PD

REGISTERED NUMBER:

03411875 (England and Wales)

ACCOUNTANTS:

Sedulo Leeds Limited

St Pauls House

23 Park Square

Leeds

West Yorkshire

LS1 2ND

FIXED ASSETS

Intangible assets

4

515,397

547,611

Tangible assets

5

-

-

515,397

547,611

CURRENT ASSETS

Stocks

2,220

2,220

Debtors

6

295,418

2,213,394

Cash at bank

70,611

112,418

368,249

2,328,032

CREDITORS

Amounts falling due within one year

7

362,101

408,642

NET CURRENT ASSETS

6,148

1,919,390

TOTAL ASSETS LESS CURRENT LIABILITIES

521,545

2,467,001

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

520,545

2,466,001

SHAREHOLDERS' FUNDS

521,545

2,467,001

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 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 on 23 December 2019 and were signed on its behalf by:

J Fisher - Director

1.	STATUTORY INFORMATION

The Fisher Partnership 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.

The principal activity of the company during the year was the operation of care homes.

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.

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards

(United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as

otherwise stated).

Turnover

Turnover represents amounts receivable for goods and services.

Goodwill

Acquired goodwill is being written off in equal annual instalments over its estimated useful economic life of 25

years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

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

-

20% on cost

Stock

Stock is valued at the lower of cost and net realisable value.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and

depreciated over the shorter of the lease terms and their useful lives. Obligations under such agreements are

included in creditors net of the finance charge allocated to future periods. The finance element of the rental

payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net

obligation outstanding in each period.

Pensions

The pension costs charged in the financial statements represent the contributions payable by the company during

the year in accordance with FRS 17

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 94 (2018 - 102 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2018

and 31 March 2019

854,000

AMORTISATION

At 1 April 2018

306,389

Amortisation for year

32,214

At 31 March 2019

338,603

NET BOOK VALUE

At 31 March 2019

515,397

At 31 March 2018

547,611

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 April 2018

and 31 March 2019

11,217

DEPRECIATION

At 1 April 2018

and 31 March 2019

11,217

NET BOOK VALUE

At 31 March 2019

-

At 31 March 2018

-

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Trade debtors

98,539

72,853

Amounts owed by group undertakings

100,000

454,994

Amounts owed by associates

-

1,366,227

Other debtors

96,879

319,320

295,418

2,213,394

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Bank loans and overdrafts

107,139

100,869

Trade creditors

126,956

201,091

Taxation and social security

101,972

93,144

Other creditors

26,034

13,538

362,101

408,642

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.3.19

31.3.18

£

£

In more than five years

391,875

391,875

The Company has entered into leases of property, due to expire 31 July 2035.

9.	RELATED PARTY DISCLOSURES

Included in debtors is a balance due from Esk Hall Limited, a fellow group company, amounting to £nil (2018:

£1,176,111). Interest was charged on the loan balance at a rate of 1.5% above base rate.

Included in debtors is a balance due from Bedale Grange (TFP) Limited, a fellow group company, amounting to

£nil (2018: £95,280). no interest was charged on the loan balance.

Included in debtors is a balance due from The TFP Group Limited, the immediate parent company, amounting

to £100,000 (2018: £94,837). No interest is charged on the loan balance.

Included in Other debtors is a balance due from Whitby Court Limited, an associated company of Esk Hall

Limited, amounting to £nil (2018: £7,391). Interest was charged on the loan balance at a rate of 10% per annum.

Included in Other debtors is a balance due from Castellum Homes Ltd, a company part controlled by John

Fisher, a director, amounting to £nil (2018: £45,703). Interest was charged on the loan balance at a rate of 10%

per annum.