Company No: OC342442 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	31.03.2025		31.03.2024
		£		£
Fixed assets
Tangible assets	3	38,765		50,146
		38,765		50,146
Current assets
Stocks		9,000		9,000
Debtors	4	31,585		34,934
Cash at bank and in hand		50,611		99,080
		91,196		143,014
Creditors: amounts falling due within one year	5	( 94,906)		( 98,431)
Net current (liabilities)/assets		(3,710)		44,583
Total assets less current liabilities		35,055		94,729
Creditors: amounts falling due after more than one year	6	( 32,353)		( 37,803)
Net assets attributable to members		2,702		56,926
Represented by
Loans and other debts due to members within one year
Other amounts		2,702		56,926
		2,702		56,926
Members' other interests
		0		0
		2,702		56,926
Total members' interests
Loans and other debts due to members		2,702		56,926
		2,702		56,926

For the financial year ending 31 March 2025 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:

• 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; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime and a copy of the Profit and Loss Account has not been delivered.

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 19 November 2025. They were signed on its behalf by:

Mr J H Russell Designated member

1. Accounting policies

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

Going concern

The members have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The members have a reasonable expectation that the LLP has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

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 or 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

	Year ended 31.03.2025		Period from 01.01.2023 to 31.03.2024
	Number		Number
Monthly average number of persons employed by the LLP during the year	3		3

3. Tangible assets

	Land and buildings		Vehicles		Office equipment		Other property, plant and equipment		Total
	£		£		£		£		£
Cost
At 01 April 2024	7,254		60,095		15,648		21,092		104,089
Additions	0		0		1,585		0		1,585
At 31 March 2025	7,254		60,095		17,233		21,092		105,674
Accumulated depreciation
At 01 April 2024	7,254		11,103		14,494		21,092		53,943
Charge for the financial year	0		12,248		718		0		12,966
At 31 March 2025	7,254		23,351		15,212		21,092		66,909
Net book value
At 31 March 2025	0		36,744		2,021		0		38,765
At 31 March 2024	0		48,992		1,154		0		50,146

4. Debtors

	31.03.2025		31.03.2024
	£		£
Trade debtors	10,819		28,665
Prepayments	20,606		3,903
VAT recoverable	0		342
Other debtors	160		2,024
	31,585		34,934

5. Creditors: amounts falling due within one year

	31.03.2025		31.03.2024
	£		£
Bank overdrafts	53,257		44,917
Trade creditors	24,816		7,374
Other taxation and social security	8,115		171
Obligations under finance leases and hire purchase contracts (secured)	5,449		5,449
Other creditors	3,269		40,520
	94,906		98,431

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

	31.03.2025		31.03.2024
	£		£
Obligations under finance leases and hire purchase contracts (secured)	32,353		37,803

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

7. Financial commitments

Commitments

Capital commitments are as follows:

	31.03.2025		31.03.2024
	£		£
Contracted for but not provided for:
Other	0		858