Silverfin false 31/03/2024 01/01/2023 31/03/2024 Mr J B Fisher 07/01/2009 Ms R E Fisher 07/01/2009 Mr J H Russell 07/01/2009 29 November 2024 OC342442 2024-03-31 OC342442 bus:Director1 2024-03-31 OC342442 bus:Director2 2024-03-31 OC342442 bus:Director3 2024-03-31 OC342442 2022-12-31 OC342442 core:CurrentFinancialInstruments 2024-03-31 OC342442 core:CurrentFinancialInstruments 2022-12-31 OC342442 core:Non-currentFinancialInstruments 2024-03-31 OC342442 core:Non-currentFinancialInstruments 2022-12-31 OC342442 core:LandBuildings 2022-12-31 OC342442 core:Vehicles 2022-12-31 OC342442 core:OfficeEquipment 2022-12-31 OC342442 core:OtherPropertyPlantEquipment 2022-12-31 OC342442 core:LandBuildings 2024-03-31 OC342442 core:Vehicles 2024-03-31 OC342442 core:OfficeEquipment 2024-03-31 OC342442 core:OtherPropertyPlantEquipment 2024-03-31 OC342442 2023-01-01 2024-03-31 OC342442 bus:FullAccounts 2023-01-01 2024-03-31 OC342442 bus:SmallEntities 2023-01-01 2024-03-31 OC342442 bus:AuditExemptWithAccountantsReport 2023-01-01 2024-03-31 OC342442 bus:LimitedLiabilityPartnershipLLP 2023-01-01 2024-03-31 OC342442 bus:Director1 2023-01-01 2024-03-31 OC342442 bus:Director2 2023-01-01 2024-03-31 OC342442 bus:Director3 2023-01-01 2024-03-31 OC342442 core:LandBuildings core:TopRangeValue 2023-01-01 2024-03-31 OC342442 core:Vehicles 2023-01-01 2024-03-31 OC342442 core:OfficeEquipment core:TopRangeValue 2023-01-01 2024-03-31 OC342442 core:OtherPropertyPlantEquipment core:TopRangeValue 2023-01-01 2024-03-31 OC342442 2022-01-01 2022-12-31 OC342442 core:LandBuildings 2023-01-01 2024-03-31 OC342442 core:OfficeEquipment 2023-01-01 2024-03-31 OC342442 core:OtherPropertyPlantEquipment 2023-01-01 2024-03-31 OC342442 core:CurrentFinancialInstruments 2023-01-01 2024-03-31 OC342442 core:Non-currentFinancialInstruments 2023-01-01 2024-03-31 iso4217:GBP xbrli:pure

Company No: OC342442 (England and Wales)

FISHER RUSSELL LLP

Unaudited Financial Statements
For the financial period from 01 January 2023 to 31 March 2024
Pages for filing with the registrar

FISHER RUSSELL LLP

Unaudited Financial Statements

For the financial period from 01 January 2023 to 31 March 2024

Contents

FISHER RUSSELL LLP

BALANCE SHEET

As at 31 March 2024
FISHER RUSSELL LLP

BALANCE SHEET (continued)

As at 31 March 2024
Note 31.03.2024 31.12.2022
£ £
Fixed assets
Tangible assets 3 50,146 4,054
50,146 4,054
Current assets
Stocks 9,000 9,000
Debtors 4 34,934 27,268
Cash at bank and in hand 99,080 516,019
143,014 552,287
Creditors: amounts falling due within one year 5 ( 98,431) ( 357,722)
Net current assets 44,583 194,565
Total assets less current liabilities 94,729 198,619
Creditors: amounts falling due after more than one year 6 ( 37,803) 0
Net assets attributable to members 56,926 198,619
Represented by
Loans and other debts due to members within one year
Other amounts 56,926 198,619
56,926 198,619
Members' other interests
0 0
56,926 198,619
Total members' interests
Loans and other debts due to members 56,926 198,619
56,926 198,619

For the financial period ending 31 March 2024 the LLP 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.

Members' responsibilities:

Fisher Russell LLP has no equity and, in accordance with the provisions contained within the Statement of Recommended Practice "Accounting by Limited Liability Partnerships", has not presented a Statement of Changes in Equity.

The financial statements of Fisher Russell LLP (registered number: OC342442) were approved and authorised for issue by the Board of Directors on 29 November 2024. They were signed on its behalf by:

Mr J H Russell
Designated member
FISHER RUSSELL LLP

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 January 2023 to 31 March 2024
FISHER RUSSELL LLP

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 January 2023 to 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Fisher Russell LLP is a limited liability partnership, incorporated in the United Kingdom under the Limited Liability Partnerships Act 2000 and is registered in England and Wales. The address of the LLP's registered office is Manor House, Kingsbury Episcopi, Martock, TA12 6AT, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Limited Liability Partnerships Act 2000 as applicable to companies subject to the small companies regime and the requirements of the Statement of Recommended Practice Accounting by Limited Liability Partnerships issued in December 2021 (SORP 2022).

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Reporting period length

The company extended its financial year to coincide with the fiscal year.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.
Revenue from services is recognised as they are delivered.

Taxation

The taxation payable on the partnership's profits is the personal liability of the members, although payment of such liabilities is administered by the partnership on behalf of its members. Consequently, neither partnership taxation nor related deferred taxation is accounted for in these financial statements. Sums set aside in respect of members' tax obligations are included in the balance sheet within loans and other debts due to members, or are set against amounts due from members as appropriate.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Land and buildings 3 years straight line
Vehicles 25 % reducing balance
Office equipment 3 years straight line
Other property, plant and equipment 5 years straight line
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

2. Employees

Period from
01.01.2023 to
31.03.2024
Year ended
31.12.2022
Number Number
Monthly average number of persons employed by the LLP during the period 3 3

3. Tangible assets

Land and buildings Vehicles Office equipment Other property, plant
and equipment
Total
£ £ £ £ £
Cost
At 01 January 2023 7,254 12,295 14,590 21,092 55,231
Additions 0 47,800 1,058 0 48,858
At 31 March 2024 7,254 60,095 15,648 21,092 104,089
Accumulated depreciation
At 01 January 2023 7,254 9,378 13,453 21,092 51,177
Charge for the financial period 0 1,725 1,041 0 2,766
At 31 March 2024 7,254 11,103 14,494 21,092 53,943
Net book value
At 31 March 2024 0 48,992 1,154 0 50,146
At 31 December 2022 0 2,917 1,137 0 4,054

4. Debtors

31.03.2024 31.12.2022
£ £
Trade debtors 28,665 0
Prepayments 3,903 7,791
VAT recoverable 342 17,453
Other debtors 2,024 2,024
34,934 27,268

5. Creditors: amounts falling due within one year

31.03.2024 31.12.2022
£ £
Bank overdrafts 44,917 44,250
Trade creditors 7,374 106,881
Other taxation and social security 171 0
Obligations under finance leases and hire purchase contracts (secured) 5,449 0
Other creditors 40,520 206,591
98,431 357,722

Hire purchase contracts are secured on the assets they relate to.

Capital loans and other debts due to members rank pari passu with creditors, in accordance with the members' agreement. There are no restrictions on the members' ability to reduce the amount of members' other interests.

6. Creditors: amounts falling due after more than one year

31.03.2024 31.12.2022
£ £
Obligations under finance leases and hire purchase contracts (secured) 37,803 0

Hire purchase contracts are secured on the assets they relate to.

7. Financial commitments

Commitments

Capital commitments are as follows:

31.03.2024 31.12.2022
£ £
Contracted for but not provided for:
Other 858 3,005