2022-04-012023-03-312023-03-31false06767318FISHER BROTHERS 1979 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FISHER BROTHERS 1979 LIMITED

Registered Number
06767318
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2023

FISHER BROTHERS 1979 LIMITED
Company Information
for the year from 1 April 2022 to 31 March 2023

Directors

FISHER, Eleanor Mary
WALBY, Michael James

Registered Address

Great Head House
Priory Road
Ulverston
LA12 9RX

Registered Number

06767318 (England and Wales)
FISHER BROTHERS 1979 LIMITED
Statement of Financial Position
31 March 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Investment property6640,561640,561
640,561640,561
Current assets
Debtors8181,420164,743
Current asset investments1,631,4141,728,580
Cash at bank and on hand32,10653,372
1,844,9401,946,695
Creditors amounts falling due within one year9(1,593,135)(1,634,829)
Net current assets (liabilities)251,805311,866
Total assets less current liabilities892,366952,427
Net assets892,366952,427
Capital and reserves
Called up share capital500,002500,002
Profit and loss account392,364452,425
Shareholders' funds892,366952,427
The financial statements were approved and authorised for issue by the Board of Directors on 23 November 2023, and are signed on its behalf by:
FISHER, Eleanor Mary
Director
Registered Company No. 06767318
FISHER BROTHERS 1979 LIMITED
Notes to the Financial Statements
for the year ended 31 March 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Principal activities
The principal activity of the company is letting and management of properties.
3.Basis of measurement used in financial statements
The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
4.Accounting policies
Functional and presentation currency policy
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and/or the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Investment property policy
Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.
Taxation policy
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax policy
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Leases policy
Operating leases: the Company as lessor. Rental income from operating leases is credited to profit and loss on straight line basis over the lease term.
Investments policy
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the Income Statement.
Valuation of financial instruments policy
Investments in listed company shares are remeasured to market value at each Statement of Financial Position date. Gains and losses on remeasurement are recognised in profit or loss for the period.
Going concern
The directors believe that the company has adequate resources to continue in operational existence for the foreseeable future. The company continues to have the support of the directors, shareholders and creditors and therefore continue to adopt the going concern basis of accounting in preparing the financial statements.
5.Employee information

20232022
Average number of employees during the year44
6.Investment property
The 2023 valuations were made by the directors, on an open market value for existing use basis.

£
Fair value at 01 April 22640,561
At 31 March 23640,561
7.Description of nature of transactions and balances with related parties
Included within debtors, is an amount due from Great Head House Estates Limited, a company with common directors and shareholders, of £28,820 (2022 - £12,142). The balance is interest free and repayable on demand. Included within debtors, is an amount due from Fisher Brothers 1994 Limited, a company with common directors and shareholders, of £52,600 (2022 - £52,600). The balance is interest free and repayable on demand. Included within creditors, amounts falling due within one year, is an amount owed to the director, Mrs E M Fisher, of £1,557 (2022 - £1,557). The balance is interest free and repayable on demand. Included within creditors, amounts falling due within one year, is an amount owed to B F Fisher, of £794,032 (2022 - £794,032). The balance is interest free and repayable on demand. Included within creditors, amounts falling due within one year, is an amount owed to J S Fisher, of £581,037 (2022 - £623,997). The balance is interest free and repayable on demand. Included within creditors, amounts falling due within one year, is an amount owed to R F Fisher 1982 Trust, of £202,743 (2022 - £202,743). The balance is interest free and repayable on demand. Included within administration expenses is a service charge of £38,862 (2022 - £58,715) to Great Head House Estates Limited, a company with common directors and shareholders, in respect of recharged costs.
8.Debtors

2023

2022

££
Amounts owed by group undertakings81,42064,743
Other debtors100,000100,000
Total181,420164,743
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
9.Creditors within one year

2023

2022

££
Taxation and social security11,76510,500
Other creditors1,579,3691,622,329
Accrued liabilities and deferred income2,0012,000
Total1,593,1351,634,829
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.