The Fisher Partnership Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 03411875 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

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:

Bartfields (UK) Limited

Chartered Accountants

4th Floor, Stockdale House

Headingley Office Park

8 Victoria Road

Leeds

LS6 1PF

FIXED ASSETS

Intangible assets

4

579,821

612,033

Tangible assets

5

-

2,118

579,821

614,151

CURRENT ASSETS

Stocks

2,220

2,220

Debtors

6

1,863,729

1,586,951

Cash at bank

150,740

15,792

2,016,689

1,604,963

CREDITORS

Amounts falling due within one year

7

391,821

277,796

NET CURRENT ASSETS

1,624,868

1,327,167

TOTAL ASSETS LESS CURRENT LIABILITIES

2,204,689

1,941,318

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

2,203,689

1,940,318

SHAREHOLDERS' FUNDS

2,204,689

1,941,318

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 16 November 2017 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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 102 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2016

and 31 March 2017

854,000

AMORTISATION

At 1 April 2016

241,967

Amortisation for year

32,212

At 31 March 2017

274,179

NET BOOK VALUE

At 31 March 2017

579,821

At 31 March 2016

612,033

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 April 2016

and 31 March 2017

11,217

DEPRECIATION

At 1 April 2016

9,099

Charge for year

2,118

At 31 March 2017

11,217

NET BOOK VALUE

At 31 March 2017

-

At 31 March 2016

2,118

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

as restated

£

£

Trade debtors

110,937

63,918

Amounts owed by group undertakings

305,295

86,053

Other debtors

1,447,497

1,436,980

1,863,729

1,586,951

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

as restated

£

£

Trade creditors

231,431

157,890

Taxation and social security

94,396

51,912

Other creditors

65,994

67,994

391,821

277,796

8.	LEASING AGREEMENTS

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

2017

2016

as restated

£

£

In more than five years

391,875

391,875

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

9.	PROVISIONS FOR LIABILITIES

Deferred

Other

tax

provisions

£

£

Balance at 1 April 2016

As previously reported

(1,027

)

1,297,482

Prior year adjustment

-

(1,297,482

)

As restated

(1,027

)

-

Provided during year

1,027

-

Balance at 31 March 2017

-

-

10.	RELATED PARTY DISCLOSURES

Included in debtors is a balance due from The Fisher Property Partnership, the immediate parent which is

controlled by the directors, amounting to £305,295 (2016 - £86,053).

Included in Other debtors is a balance due from Esk Hall Limited, a company controlled by the directors,

amounting to £1,152,039 (2016 - £1,189,728). Interest is chargeable on the loan balances at a rate of 1.5% above

base rate.

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

Limited, amounting to £7,391 (2016 - £7,301).

Included in Other debtors is a balance due from Bedale Grange (TFP) Limited, a company controlled by the

directors, amounting to £118,246 (2016 - £157,316).

Included in Other creditors is a balance due to The TFP Group Limited, a company controlled by the directors,

of £56,463 (2016 - £56,463).

11.	FIRST YEAR ADOPTION

For all periods up to and including the year ended 31 March 2016, the company prepared its financial statements

in accordance with previously extant United Kingdom generally accepted accounting practice (UK GAAP).

These financial statements, for the year ended 31 March 2017, are the first the company has prepared in

accordance with FRS102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland.

Accordingly, the company has prepared individual financial statements which comply with FRS102 - The

Financial Reporting Standard applicable in the UK and Republic of Ireland applicable for periods beginning on

or after 1 January 2016 and the significant accounting policies meeting those requirements are described in the

relevant notes.

There are no adjustments to the carrying value of assets and liabilities on first adoption of FRS102.