Registered number
OC395500
M. J. Fisher & Co LLP
Filleted Accounts
31 March 2024
M. J. Fisher & Co LLP
Registered number: OC395500
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 10,039 12,972
Current assets
Debtors 4 12,298 11,589
Cash at bank and in hand 100 100
12,398 11,689
Creditors: amounts falling due within one year 5 (320) (270)
Net current assets 12,078 11,419
Total assets less current liabilities 22,117 24,391
Net assets attributable to members 22,117 24,391
Represented by:
Loans and other debts due to members 6 22,017 24,291
Members' other interests
Members' capital classified as equity 100 100
22,117 24,391
Total members' interests
Loans and other debts due to members 6 22,017 24,291
Members' other interests 100 100
22,117 24,391
For the year ended 31 March 2024 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied to LLPs).
The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 (as applied to LLPs) with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime. The profit and loss account has not been delivered to the Registrar of Companies.
These accounts were approved by the members on 29 July 2024 and signed on their behalf by:
Mr M J Fisher
Designated member
M. J. Fisher & Co LLP
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and the Statement of Recommended Practice (SORP), Accounting by Limited Liability Partnerships.
Turnover
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 from 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.
Division of profits
Profits are treated as being available for discretionary division only if the LLP has an unconditional right to refuse payment of the profits of a particular year unless and until the members agree to divide them. Profits are otherwise automatically divided and included under Members’ remuneration charged as an expense in the profit and loss account.
Taxation
Taxation is not provided for in the accounts as taxation is the personal liability of the members. Any amounts held by the LLP on behalf of members in respect of their tax liabilities are treated as debts due to members.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% of the balance remaining after disposals,
fixtures, fittings, tools and equipment additions and previous years' depreciation
Debtors
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, less any impairment losses for bad and doubtful debts.
Creditors
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.
Members' capital
Members' capital is classified as debt and not equity if there is a contractual obligation for the LLP to repay the capital to members, even if that obligation is conditional.
2 Employees 2024 2023
Number Number
Average number of persons employed by the LLP - -
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2023 130 17,250 17,380
Additions 414 - 414
At 31 March 2024 544 17,250 17,794
Depreciation
At 1 April 2023 95 4,313 4,408
Charge for the year 113 3,234 3,347
At 31 March 2024 208 7,547 7,755
Net book value
At 31 March 2024 336 9,703 10,039
At 31 March 2023 35 12,937 12,972
4 Debtors 2024 2023
£ £
Other debtors 12,298 11,589
5 Creditors: amounts falling due within one year 2024 2023
£ £
Other creditors 320 270
6 Loans and other debts due to members 2024 2023
£ £
Amounts due to members in respect of profits 22,017 24,291
Amounts falling due within one year 22,017 24,291
Loans and other debts due to members rank equally with debts due to ordinary creditors in a winding up.
7 Other information
M. J. Fisher & Co LLP is a limited liability partnership incorporated in England. Its registered office is:
160 Burntwood Lane
Caterham
CR3 6TB
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