Company registration number 11010547 (England and Wales)
FISHER ANALYTICS AND CONTROL TECHNOLOGY LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
PAGES FOR FILING WITH REGISTRAR
FISHER ANALYTICS AND CONTROL TECHNOLOGY LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
FISHER ANALYTICS AND CONTROL TECHNOLOGY LIMITED
BALANCE SHEET
AS AT
30 APRIL 2024
30 April 2024
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
Debtors
3
2,508
10,858
Creditors: amounts falling due within one year
4
(8,350)
Net current assets
2,508
2,508
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
2,408
2,408
Total equity
2,508
2,508
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on
30 January 2025
30 January 2025
and are signed on its behalf by:
2025-01-30
Mr B J Papay
Director
Company registration number 11010547 (England and Wales)
FISHER ANALYTICS AND CONTROL TECHNOLOGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
- 2 -
1
Accounting policies
Company information
Fisher Analytics and Control Technology Limited is a private company limited by shares incorporated in England and Wales. The registered office is 30 Dukes Place, London, EC3A 7LP.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
On 31 December 2023, the company hived up its business trade and assets to trueAnglepoint (UK) Ltd. As a result the company is no longer trading and the directors' intention is to dissolve the company by April 2025. As a result, the financial statements have been prepared on a basis other than going concern. At the date of approving these financial statements it is the considered view of the directors’ that there is no material difference between the going concern basis and any other basis under which the financial statements could have been prepared.
1.3
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.
Classification of financial liabilities
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.
FISHER ANALYTICS AND CONTROL TECHNOLOGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 3 -
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.
1.4
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.5
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
3
3
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
2,508
10,658
Other debtors
200
2,508
10,858
FISHER ANALYTICS AND CONTROL TECHNOLOGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 4 -
4
Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
8,350
5
Audit report information
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:
The auditor's report was unqualified.
Emphasis of matter related to going concern
We draw attention to note 1.2 which indicates that the financial statements have been prepared on a basis other than going concern. As at 31 December 2023, and from that date, the company's assets and liabilities have been absorbed into Anglepoint UK Ltd at their carrying values. As a result the company is no longer trading and the intention is to dissolve the company by April 2025. Given these circumstances the directors’ have prepared the financial statements on a basis other than going concern.
In auditing the financial statements, we have concluded that in these circumstances, the company's use of a basis other than going concern in the preparation of the financial statements is appropriate.
Senior Statutory Auditor:
Daniel Rose
Statutory Auditor:
Gravita Audit II Limited
Date of audit report:
31 January 2025
6
Related party transactions
The following amounts were outstanding at the reporting end date:
As of 30 April 2024, the company was owed £2,508 (2023: £10,658) by fellow group undertakings.
7
Parent company
The immediate parent is Fisher Information Technology Services Holdings Limited whose registered address is 30 Dukes Place, London, EC3A 7LP, United Kingdom.
The Ultimate controlling party is Crayon Group Holding ASA. The registered address is Sandakerveien 114 A, 0484, Oslo, Norway.