Company Registration No. 05944640 (England and Wales)
HW FISHER & COMPANY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2022
PAGES FOR FILING WITH REGISTRAR
HW FISHER & COMPANY LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
HW FISHER & COMPANY LIMITED
BALANCE SHEET
AS AT
30 APRIL 2022
30 April 2022
- 1 -
2022
2021
Notes
£
£
£
£
Fixed assets
Investments
3
590
590
Current assets
Debtors
4
459,065
692,262
Cash at bank and in hand
2,517
26,755
461,582
719,017
Creditors: amounts falling due within one year
5
(60,458)
(303,384)
Net current assets
401,124
415,633
Total assets less current liabilities
401,714
416,223
Capital and reserves
Called up share capital
6
11
11
Share premium account
9,498
9,498
Capital redemption reserve
9
9
Profit and loss reserves
392,196
406,705
Total equity
401,714
416,223
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 30 April 2022 the company was entitled to exemption from audit under section 47
9A
of the Companies Act 2006 relating to
subsidiary
companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
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 19 December 2022 and are signed on its behalf by:
G.A. Miller
Director
Company Registration No. 05944640
HW FISHER & COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2022
- 2 -
1
Accounting policies
Company information
HW Fisher & Company Limited is a
private
company
limited by shares
incorporated in
England and Wales
.
The registered office is
Acre House, 11-15 William Road, London, United Kingdom, NW1 3ER.
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 a
mounts
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
The directors have considered the effect of the Covid-19 outbreak. The directors consider that the outbreak is unlikely to cause a significant disruption to the company’s business and are confident that the company can continue as a going concern for a period of at least twelve months from the date of approval of these financial statements. The directors have a reasonable expectation that the company has adequate resources to continue in operation for the foreseeable future
true
and therefore have prepared the financial statements on a going concern basis
1.3
Turnover
Turnover represents revenue earned under contracts to provide professional services. Revenue is recognised as earned when, and to the extent that, the company obtains the right to consideration in exchange for its performance under these contracts. It is measured at the fair value of the right to consideration, which represents amounts chargeable to clients, but excluding value added tax.
Revenue is generally recognised as contract activity progresses so that for incomplete contracts it reflects the partial performance of the contractual obligations. For such contracts the amount of revenue reflects the accrual of the right to consideration by reference to the value of the work performed. Revenue not billed to clients is included in debtors as accrued income.
1.4
Cash and cash equivalents
Cash at bank and in hand
are basic financial assets
and
include deposits held at call with banks
.
1.5
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.
HW FISHER & COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2022
1
Accounting policies
(Continued)
- 3 -
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.
Basic financial liabilities
Basic financial liabilities, including
creditors
, 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 receipts 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.
1.6
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.7
Taxation
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the
profit and loss account
because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
2
Employees
There were no employees during the year or previous year.
3
Fixed asset investments
2022
2021
£
£
Other investments other than loans
590
590
Movements in fixed asset investments
Investments other than loans
£
Cost or valuation
At 1 May 2021 & 30 April 2022
590
Carrying amount
At 30 April 2022
590
At 30 April 2021
590
HW FISHER & COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2022
- 4 -
4
Debtors
2022
2021
Amounts falling due within one year:
£
£
Trade debtors
97,521
Amounts owed by group undertakings
459,065
577,926
Prepayments and accrued income
16,815
459,065
692,262
5
Creditors: amounts falling due within one year
2022
2021
£
£
Trade creditors
43
Amounts owed to group undertakings
60,117
241,367
Corporation tax
13,623
Other taxation and social security
341
45,351
Accruals and deferred income
3,000
60,458
303,384
6
Called up share capital
2022
2021
2022
2021
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary Shares of 1p each
900
900
9
9
Ordinary B-Shares of 1p each
100
100
1
1
Ordinary C-Shares of 1p each
100
100
1
1
1,100
1,100
11
11
All
share
classes rank parri passu except that Ordinary-B shares
have no rights to amounts paid from any
reserves
which existed prior to 1 May 2015
and Ordinary-C share
have no rights to amounts paid from any
reserves
which existed prior
to 1 May 2017.
7
Financial commitments
A charge over the company’s assets is registered at Companies House which forms part of a cross company guarantee to support the overdraft facility in HW Fisher LLP.
8
Parent company
The company is included in the consolidated accounts of its ultimate parent, HW Fisher LLP. The registered office of HW Fisher
LLP is Acre House, 11-15 William Road, London, NW1 3ER, United Kingdom.