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COMPANY REGISTRATION NUMBER: 06756415
Paul Fisher & Associates Limited
Unaudited Financial Statements
30 November 2023
Paul Fisher & Associates Limited
Financial Statements
Year ended 30 November 2023
Contents
Pages
Officers and professional advisers
1
Director's report
2
Chartered accountant's report to the director on the preparation of the unaudited statutory financial statements
3
Profit & loss account
4
Balance sheet
5
Notes to the financial statements
6 to 8
Paul Fisher & Associates Limited
Officers and Professional Advisers
Director
Mr P D Fisher
Registered office
Catnip Cottage
The Green
Barlaston
Stoke on Trent
ST12 9AF
Accountants
Dean Statham
Chartered accountants
29 King Street
Newcastle-under-Lyme
Staffordshire
ST5 1ER
Bankers
Santander
PO Box 10102
21 Prescot Street
London
E1 8TN
Paul Fisher & Associates Limited
Director's Report
Year ended 30 November 2023
The director presents his report and the unaudited financial statements of the company for the year ended 30 November 2023 .
Principal activities
The principal activity of the company during the year was chartered surveyors and property management services.
Director
The director who served the company during the year was as follows:
Mr P D Fisher
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 30 August 2024 and signed on behalf of the board by:
Mr P D Fisher
Director
Registered office:
Catnip Cottage
The Green
Barlaston
Stoke on Trent
ST12 9AF
Paul Fisher & Associates Limited
Chartered Accountant's Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of Paul Fisher & Associates Limited
Year ended 30 November 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Paul Fisher & Associates Limited for the year ended 30 November 2023, which comprise the profit & loss account, balance sheet and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the director of Paul Fisher & Associates Limited. Our work has been undertaken solely to prepare for your approval the financial statements of Paul Fisher & Associates Limited and state those matters that we have agreed to state to you in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Paul Fisher & Associates Limited and its director for our work or for this report.
It is your duty to ensure that Paul Fisher & Associates Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Paul Fisher & Associates Limited. You consider that Paul Fisher & Associates Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of Paul Fisher & Associates Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Dean Statham Chartered accountants
29 King Street Newcastle-under-Lyme Staffordshire ST5 1ER
30 August 2024
Paul Fisher & Associates Limited
Profit & Loss Account
Year ended 30 November 2023
2023
2022
Note
£
£
Turnover
19,521
19,766
Cost of sales
130
--------
--------
Gross profit
19,391
19,766
Administrative expenses
20,147
19,764
--------
--------
Operating (loss)/profit
( 756)
2
Interest payable and similar expenses
163
189
--------
--------
Loss before taxation
( 919)
( 187)
Tax on loss
( 85)
122
----
----
Loss for the financial year and total comprehensive income
( 834)
( 309)
----
----
Retained losses at the start of the year
( 563)
( 254)
-------
----
Retained losses at the end of the year
( 1,397)
( 563)
-------
----
All the activities of the company are from continuing operations.
Paul Fisher & Associates Limited
Balance Sheet
30 November 2023
2023
2022
Note
£
£
Current assets
Debtors
5
85
Cash at bank and in hand
5,562
6,749
-------
-------
5,647
6,749
Creditors: amounts falling due within one year
6
5,543
4,811
-------
-------
Net current assets
104
1,938
----
-------
Total assets less current liabilities
104
1,938
Creditors: amounts falling due after more than one year
7
1,500
2,500
-------
-------
Net liabilities
( 1,396)
( 562)
-------
-------
Capital and reserves
Called up share capital
1
1
Profit and loss account
( 1,397)
( 563)
-------
----
Shareholders deficit
( 1,396)
( 562)
-------
----
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 30 August 2024 , and are signed on behalf of the board by:
Mr P D Fisher
Director
Company registration number: 06756415
Paul Fisher & Associates Limited
Notes to the Financial Statements
Year ended 30 November 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Catnip Cottage, The Green, Barlaston, Stoke on Trent, ST12 9AF. The company registration number is 06756415 .
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity. Monetary amounts in these financial statements are rounded to the nearest £.
Going concern
At the balance sheet date, the company's liabilities exceeded its assets. The company has received assurance from the director that they will continue to give financial support to the company for twelve months from the date of signing these financial statements. On this basis, the director considers it appropriate to prepare the accounts on a going concern basis. However, should the financial support mentioned above not be forthcoming, the going concern basis used in preparing the company's accounts may be invalid and adjustments would have to be made to reduce the value of assets to their realisable amount and to provide for any further liabilities which might arise. The accounts do not include any adjustment to the company's assets or liabilities that might be necessary should this basis not continue to be appropriate.
Judgements and key sources of estimation uncertainty
Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows: As described in the accounting policies of the financial statements, depreciation of tangible assets has been based on estimated useful lives and residual values deemed appropriate by the directors. Estimated useful lives and residual values are reviewed annually and revised as appropriate. Revisions take in to account actual asset lives and residual values as evidenced by disposals during current and prior accounting periods.
Revenue recognition
The turnover shown in the profit and loss account represents amounts invoiced during the year. Turnover comprises the value of sales (exclusive of trade discounts) of goods and services provided in the normal course of business. Turnover in respect of service contracts is recognised when the company obtains the right to receive consideration for services provided.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. 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 is recognised in respect of all material timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Computer equipment
-
25% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. The basic financial instruments of the company are as follows: Debtors Debtors do not carry any interest and are stated at their nominal value. Appropriate allowances for estimated irrecoverable amounts are recognised in the Profit and Loss account when there is objective evidence that the asset is impaired. Cash at bank and in hand This comprises cash at bank and in hand.
4. Tangible assets
Computer equipment
Total
£
£
Cost
At 1 December 2022 and 30 November 2023
2,430
2,430
-------
-------
Depreciation
At 1 December 2022 and 30 November 2023
2,430
2,430
-------
-------
Carrying amount
At 30 November 2023
-------
-------
At 30 November 2022
-------
-------
5. Debtors
2023
2022
£
£
Other debtors
85
----
----
6. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
1,000
1,000
Corporation tax
146
Other creditors
4,543
3,665
-------
-------
5,543
4,811
-------
-------
7. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
1,500
2,500
-------
-------
The bank loan in favour of Santander UK Plc is unsecured.
8. Employee numbers
The average number of persons employed by the company during the year amounted to nil (2022: nil).