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REGISTERED NUMBER: 03411875 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

THE FISHER PARTNERSHIP LIMITED

THE FISHER PARTNERSHIP LIMITED (REGISTERED NUMBER: 03411875)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


THE FISHER PARTNERSHIP LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: R J D Inman
C N Spencer



SECRETARY: R J D Inman



REGISTERED OFFICE: Oak Trees Care Home
Main Street
Alne
North Yorkshire
YO61 1TB



REGISTERED NUMBER: 03411875 (England and Wales)



SENIOR STATUTORY AUDITOR: Diccon Thornely



AUDITORS: Sedulo Audit Limited
Statutory Auditors
605 Albert House
256-260 Old Street
London
EC1V 9DD

THE FISHER PARTNERSHIP LIMITED (REGISTERED NUMBER: 03411875)

BALANCE SHEET
31 MARCH 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 386,556 418,765
Tangible assets 5 135,002 73,529
521,558 492,294

CURRENT ASSETS
Stocks 2,220 2,220
Debtors 6 984,601 778,989
Cash at bank 631,206 207,100
1,618,027 988,309
CREDITORS
Amounts falling due within one year 7 584,966 553,513
NET CURRENT ASSETS 1,033,061 434,796
TOTAL ASSETS LESS CURRENT LIABILITIES 1,554,619 927,090

PROVISIONS FOR LIABILITIES 9 32,396 -
NET ASSETS 1,522,223 927,090

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 1,521,223 926,090
SHAREHOLDERS' FUNDS 1,522,223 927,090

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 and authorised for issue on 28 March 2024 and were signed on its behalf by:





R J D Inman - Director


THE FISHER PARTNERSHIP LIMITED (REGISTERED NUMBER: 03411875)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


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.

The financial statements are prepared in Sterling (GBP), which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound.

Going concern
During the year, the aftermath of the Covid pandemic saw new operational procedures put in place within the business to minimise the effects of the coronavirus pandemic and any new strains. The directors are continually assessing the continuing impact of this and other situations on the company, in line with guidance issued and following examples of best practice.

Occupancy levels remained at near to full capacity throughout the year and remain so into the 2023/24 year; with demand for residential places remaining strong. Accordingly, since the year the end the company has continued to be profitable and is forecasting continued profitability through the next year.

Trading was cash generative across the year and has been cash generative since the year end. The company utilises short and long term funding facilities from its bankers and reports monthly to them as part of the terms of those and wider group facilities, and has received an undertaking from its parent company that funds will be made available from the group as and when required.

The Directors have taken a review of the home and grounds, and launched into a capital investment programme, looking at investing in new facilities, to ensure the residents remain comfortable in their stay with us and the homes are of an expected standard.

Accordingly, at the time of signing these accounts the directors are of the opinion that the company will remain viable for the foreseeable future and therefore these financial statements have been prepared on the going concern basis.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The directors have exercised judgement in determining whether there are indications of impairment of the company's goodwill.

THE FISHER PARTNERSHIP LIMITED (REGISTERED NUMBER: 03411875)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


2. ACCOUNTING POLICIES - continued

Turnover
Turnover represents amounts receivable for goods and services.

Goodwill
Acquired goodwill, in relation to the purchase of care homes is being written off in equal annual instalments over its estimated useful economic life corresponding to the lease terms on the care homes.

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
Fixtures and fittings - 10% -33% on cost

Tangible fixed assets are initially recognised at historic cost, which includes expenditure incurred in bringing the asset to its present location and condition.

They are assessed at each reporting date for evidence of impairment. Impairment losses are recognised for the amount by which the carrying amount exceeds recoverable amount. Assets that have been previously impaired are reviewed at each reporting date to assess whether there is any indication that previously recognised impairment losses may no longer exist or be reduced, and any reversal recognised in the accounts.

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

Financial instruments
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

The company only enters into transactions in 'basic' financial instruments which result in the recognition of assets and liabilities; these include trade and other debtors and creditors, bank balances, loans from banks and other third parties, and loans to related parties.

Basic financial assets (other than those classified as payable within one year) are initially measured at cost, and are subsequently carried at cost or amortised cost using the effective interest method, less any impairment losses. Basic financial assets classified as receivable within one year are not amortised.

Basic financial liabilities (other than those classified as payable within one year) are initially recognised at present value of future cash flows and subsequently at amortised costs using the effective interest method. Basic financial liabilities classified as payable within one year are not amortised.

Financial assets and liabilities are offset, with the net amounts reported in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


THE FISHER PARTNERSHIP LIMITED (REGISTERED NUMBER: 03411875)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


2. ACCOUNTING POLICIES - continued
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 company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 80 (2022 - 88 ) .

THE FISHER PARTNERSHIP LIMITED (REGISTERED NUMBER: 03411875)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 854,000
AMORTISATION
At 1 April 2022 435,235
Amortisation for year 32,209
At 31 March 2023 467,444
NET BOOK VALUE
At 31 March 2023 386,556
At 31 March 2022 418,765

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022 95,685
Additions 86,884
At 31 March 2023 182,569
DEPRECIATION
At 1 April 2022 22,156
Charge for year 25,411
At 31 March 2023 47,567
NET BOOK VALUE
At 31 March 2023 135,002
At 31 March 2022 73,529

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 46,220 47,386
Amounts owed by group undertakings 880,389 677,141
Other debtors 57,992 54,462
984,601 778,989

THE FISHER PARTNERSHIP LIMITED (REGISTERED NUMBER: 03411875)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade creditors 241,047 192,426
Amounts owed to group undertakings 59,927 45,154
Taxation and social security 153,825 120,842
Other creditors 130,167 195,091
584,966 553,513

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.3.23 31.3.22
£    £   
Within one year 400,509 400,509
Between one and five years 1,600,276 1,600,716
In more than five years 2,882,664 3,283,453
4,883,449 5,284,678

9. PROVISIONS FOR LIABILITIES
31.3.23 31.3.22
£    £   
Deferred tax 32,396 -

Deferred
tax
£   
Provided during year 32,396
Balance at 31 March 2023 32,396

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified

Diccon Thornely (Senior Statutory Auditor)
for and on behalf of Sedulo Audit Limited

THE FISHER PARTNERSHIP LIMITED (REGISTERED NUMBER: 03411875)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


11. RELATED PARTY DISCLOSURES

Included in debtors is a balance due from The TFP Group Limited, the immediate parent company, amounting to £880,389 (2022: £619,391). No interest is charged on the loan balance.

Included in debtors are the following balances owed from group undertakings:
TFP (Wycar) Limited £Nil (2022: £3,050)
No interest is charged on the loan balances.

Included in creditors are the following balances owed to group undertakings:
TFP (Wycar) Limited £2,000 (2022: £Nil)
Bedale Grange (TFP) Limited £22,052 (2022: £45,148)
Esk Hall Limited £35,869 (2022: £54,700 due to the company)
No interest is charged on the loan balances.