Caseware UK (AP4) 2022.0.179 2022.0.179 2023-10-312023-10-315Continued to be that of property management.2022-11-01false5truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false OC378904 2022-11-01 2023-10-31 OC378904 2021-11-01 2022-10-31 OC378904 2023-10-31 OC378904 2022-10-31 OC378904 c:PlantMachinery 2022-11-01 2023-10-31 OC378904 c:FurnitureFittings 2022-11-01 2023-10-31 OC378904 c:OtherPropertyPlantEquipment 2023-10-31 OC378904 c:OtherPropertyPlantEquipment 2022-10-31 OC378904 c:OtherPropertyPlantEquipment c:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 OC378904 c:CurrentFinancialInstruments 2023-10-31 OC378904 c:CurrentFinancialInstruments 2022-10-31 OC378904 c:Non-currentFinancialInstruments 2023-10-31 OC378904 c:Non-currentFinancialInstruments 2022-10-31 OC378904 c:CurrentFinancialInstruments c:WithinOneYear 2023-10-31 OC378904 c:CurrentFinancialInstruments c:WithinOneYear 2022-10-31 OC378904 c:Non-currentFinancialInstruments c:AfterOneYear 2023-10-31 OC378904 c:Non-currentFinancialInstruments c:AfterOneYear 2022-10-31 OC378904 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2023-10-31 OC378904 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2022-10-31 OC378904 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2023-10-31 OC378904 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2022-10-31 OC378904 d:FRS102 2022-11-01 2023-10-31 OC378904 d:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 OC378904 d:FullAccounts 2022-11-01 2023-10-31 OC378904 d:LimitedLiabilityPartnershipLLP 2022-11-01 2023-10-31 OC378904 d:PartnerLLP1 2022-11-01 2023-10-31 OC378904 c:FurtherSpecificReserve3ComponentTotalEquity 2023-10-31 OC378904 c:FurtherSpecificReserve3ComponentTotalEquity 2022-10-31 OC378904 e:PoundSterling 2022-11-01 2023-10-31 iso4217:GBP xbrli:pure

Registered number: OC378904









PHILIP FISHER LLP







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 OCTOBER 2023

 
PHILIP FISHER LLP
REGISTERED NUMBER: OC378904

BALANCE SHEET
AS AT 31 OCTOBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
9,132
13,570

  
9,132
13,570

Current assets
  

Debtors: amounts falling due within one year
 5 
15,552
16,436

Cash at bank and in hand
  
344,721
433,671

  
360,273
450,107

Creditors: Amounts Falling Due Within One Year
 6 
(82,565)
(93,341)

Net current assets
  
 
 
277,708
 
 
356,766

Total assets less current liabilities
  
286,840
370,336

Creditors: amounts falling due after more than one year
 7 
(65,000)
(105,682)

  
221,840
264,654

  

Net assets
  
221,840
264,654


Represented by:
  

Loans and other debts due to members within one year
  

Other amounts
 9 
221,840
264,654

  
221,840
264,654

  

  
221,840
264,654


Total members' interests
  

Loans and other debts due to members
 9 
221,840
264,654

  
221,840
264,654


Page 1

 
PHILIP FISHER LLP
REGISTERED NUMBER: OC378904
    
BALANCE SHEET (CONTINUED)
AS AT 31 OCTOBER 2023

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small LLPs regime.

The entity was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.

The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, with respect to accounting records and the preparation of financial statements.

The financial statements have been delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The entity has opted not to file the statement of comprehensive income in accordance with the provisions applicable to entities subject to the small LLPs regime.

The financial statements were approved and authorised for issue by the members and were signed on their behalf by: 




A L Michaels
Designated member

Date: 8 March 2024


The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
PHILIP FISHER LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

1.


General information

Philip Fisher LLP is a limited liability partnership incorporated in England and Wales. The principal place of business is Dancastle Court, 14 Arcadia Avenue, London, N3 2JU.
The principal activity of the LLP continued to be that of property management.
The financial statements are prepared in sterling, which is the functional and presentational currency of the LLP. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the LLP and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the LLP will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
PHILIP FISHER LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.4

Pensions

Defined contribution pension plan

The LLP operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the LLP pays fixed contributions into a separate entity. Once the contributions have been paid the LLP has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the LLP in independently administered funds.

 
2.5

Division and distribution of profits

A division of profits is the mechanism by which the profits of an LLP become a debt due to members. A division may be automatic or discretionary, may relate to some or all of the profits for a financial period and may take place during or after the end of a financial period.

An automatic division of profits is one where the LLP does not have an unconditional right to avoid making a division of an amount of profits based on the members' agreement in force at the time, whereas a discretionary division of profits requires a decision to be made by the LLP, which it has the unconditional right to avoid making.

The LLP divides profits automatically. Automatic divisions of profits are recognised as 'Members' remuneration charged as an expense in .

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the LLP assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the reducing balance and straight line methods.

Depreciation is provided on the following basis:

Plant and machinery
-
10% reducing balance and 25% straight line
Fixtures and fittings
-
10% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 
PHILIP FISHER LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

3.


Employees

2023
2022
£
£

Wages and salaries
139,560
151,218

Social security costs
10,494
-

Cost of defined contribution scheme
2,829
-

152,883
151,218


The average monthly number of employees, including directors, during the year was 5 (2022 - 5).


4.


Tangible fixed assets





Fixed assets

£



Cost or valuation


At 1 November 2022
49,053



At 31 October 2023

49,053



Depreciation


At 1 November 2022
35,483


Charge for the year on owned assets
4,438



At 31 October 2023

39,921



Net book value



At 31 October 2023
9,132



At 31 October 2022
13,570

Page 5

 
PHILIP FISHER LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

5.


Debtors

2023
2022
£
£


Trade debtors
3,072
-

Other debtors
-
7,700

Prepayments and accrued income
12,480
8,736

15,552
16,436



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
40,682
40,909

Trade creditors
9,433
2,099

Other taxation and social security
10,400
12,489

Other creditors
18,550
30,550

Accruals and deferred income
3,500
7,294

82,565
93,341



7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
65,000
105,681

65,000
105,681


Page 6

 
PHILIP FISHER LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

8.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
40,682
40,909


40,682
40,909

Amounts falling due 1-2 years

Bank loans
40,682
40,909


40,682
40,909

Amounts falling due 2-5 years

Bank loans
24,318
64,772


24,318
64,772


105,682
146,590



9.


Loans and other debts due to/(from) members


2023
2022
£
£



Other amounts due to members
221,840
264,654

221,840
264,654

The amounts above fall due within one year of the balance sheet date.

Loans and other debts due to members rank equally with debts due to ordinary creditors in the event of a winding up.


10.


Pension commitments

The entity operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the entity in an independently administered fund. The pension cost charge represents contributions payable by the entity to the fund and amounted to £2,829 (2022 - £nil).

Page 7

 
PHILIP FISHER LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

11.


Client money

The LLP holds money on behalf of its clients. These funds are held separately from money belonging to the LLP and are subject to rules prescribed by the Financial Conduct Authority. The LLP has no legal title to these funds. Accordingly, they are not shown in the LLP's balance sheet.

 
Page 8