Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31truetrue2023-04-01falseContinued to be that of property management.35The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false OC378904 2023-03-31 OC378904 2023-04-01 2024-03-31 OC378904 2022-11-01 2023-10-31 OC378904 2024-03-31 OC378904 2023-10-31 OC378904 c:PlantMachinery 2023-04-01 2024-03-31 OC378904 c:FurnitureFittings 2023-04-01 2024-03-31 OC378904 c:OtherPropertyPlantEquipment 2024-03-31 OC378904 c:OtherPropertyPlantEquipment 2023-10-31 OC378904 c:OtherPropertyPlantEquipment c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 OC378904 c:CurrentFinancialInstruments 2024-03-31 OC378904 c:CurrentFinancialInstruments 2023-10-31 OC378904 c:Non-currentFinancialInstruments 2024-03-31 OC378904 c:Non-currentFinancialInstruments 2023-10-31 OC378904 c:CurrentFinancialInstruments c:WithinOneYear 2024-03-31 OC378904 c:CurrentFinancialInstruments c:WithinOneYear 2023-10-31 OC378904 c:Non-currentFinancialInstruments c:AfterOneYear 2024-03-31 OC378904 c:Non-currentFinancialInstruments c:AfterOneYear 2023-10-31 OC378904 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2024-03-31 OC378904 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2023-10-31 OC378904 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2024-03-31 OC378904 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2023-10-31 OC378904 d:FRS102 2023-04-01 2024-03-31 OC378904 d:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 OC378904 d:FullAccounts 2023-04-01 2024-03-31 OC378904 d:LimitedLiabilityPartnershipLLP 2023-04-01 2024-03-31 OC378904 d:PartnerLLP1 2023-04-01 2024-03-31 OC378904 c:FurtherSpecificReserve3ComponentTotalEquity 2024-03-31 OC378904 c:FurtherSpecificReserve3ComponentTotalEquity 2023-10-31 OC378904 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: OC378904









PHILIP FISHER LLP







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 MARCH 2024

 
PHILIP FISHER LLP
REGISTERED NUMBER: OC378904

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
8,752
9,132

  
8,752
9,132

Current assets
  

Debtors: amounts falling due within one year
 5 
22,713
15,552

Cash at bank and in hand
  
149,913
344,721

  
172,626
360,273

Creditors: Amounts Falling Due Within One Year
 6 
(81,979)
(82,565)

Net current assets
  
 
 
90,647
 
 
277,708

Total assets less current liabilities
  
99,399
286,840

Creditors: amounts falling due after more than one year
 7 
(47,727)
(65,000)

  
51,672
221,840

  

Net assets
  
51,672
221,840


Represented by:
  

Loans and other debts due to members within one year
  

Other amounts
 9 
51,672
221,840

  
51,672
221,840

  

  
51,672
221,840


Total members' interests
  

Loans and other debts due to members
 9 
51,672
221,840

  
51,672
221,840


Page 1

 
PHILIP FISHER LLP
REGISTERED NUMBER: OC378904
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

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: 3 December 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 PERIOD ENDED 31 MARCH 2024

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 PERIOD ENDED 31 MARCH 2024

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 .

In the event of the LLP making losses, the loss is recognised as a credit amount of 'Members' remuneration charged as an expense where it is automatically divided or as a debit within equity under 'Other reserves' if not divided automatically.

 
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.

Page 4

 
PHILIP FISHER LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.6
Tangible fixed assets (continued)

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.


3.


Employees

The average monthly number of employees, including directors, during the period was 3 (2023 - 5).


4.


Tangible fixed assets





Fixed assets

£



Cost or valuation


At 1 April 2023
49,053



At 31 March 2024

49,053



Depreciation


At 1 April 2023
39,921


Charge for the period on owned assets
380



At 31 March 2024

40,301



Net book value



At 31 March 2024
8,752



At 31 March 2023
9,132

Page 5

 
PHILIP FISHER LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

5.


Debtors

2024
2023
£
£


Trade debtors
570
3,072

Prepayments and accrued income
22,143
12,480

22,713
15,552



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
40,909
40,682

Trade creditors
13,299
9,433

Other taxation and social security
5,703
10,400

Other creditors
18,568
18,550

Accruals and deferred income
3,500
3,500

81,979
82,565



7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
47,727
65,000

47,727
65,000


Page 6

 
PHILIP FISHER LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

8.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
40,909
40,682


40,909
40,682

Amounts falling due 1-2 years

Bank loans
47,727
40,682


47,727
40,682

Amounts falling due 2-5 years

Bank loans
-
24,318


-
24,318


88,636
105,682



9.


Loans and other debts due to members


2024
2023
£
£



Other amounts due to members
51,672
221,840

51,672
221,840

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.

Page 7

 
PHILIP FISHER LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024


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 £1,213 (2023: £2,829).


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