Company Registration No. 05944640 (England and Wales)
HW FISHER & COMPANY LIMITED
(FORMERLY KNOWN AS HW FISHER BUSINESS SOLUTIONS LIMITED)
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2021
PAGES FOR FILING WITH REGISTRAR
HW FISHER & COMPANY LIMITED
(FORMERLY KNOWN AS HW FISHER BUSINESS SOLUTIONS LIMITED)
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
HW FISHER & COMPANY LIMITED
(FORMERLY KNOWN AS HW FISHER BUSINESS SOLUTIONS LIMITED)
BALANCE SHEET
AS AT 30 APRIL 2021
30 April 2021
- 1 -
2021
2020
Notes
£
£
£
£
Fixed assets
Investments
3
590
590
Current assets
Debtors
4
692,262
431,835
Cash at bank and in hand
26,755
1,601
719,017
433,436
Creditors: amounts falling due within one year
5
(303,384)
(75,878)
Net current assets
415,633
357,558
Total assets less current liabilities
416,223
358,148
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
406,705
348,630
Total equity
416,223
358,148
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 4 January 2022 and are signed on its behalf by:
G.A. Miller
Director
Company Registration No. 05944640
HW FISHER & COMPANY LIMITED
(FORMERLY KNOWN AS HW FISHER BUSINESS SOLUTIONS LIMITED)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2021
- 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
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
(FORMERLY KNOWN AS HW FISHER BUSINESS SOLUTIONS LIMITED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2021
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.
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.
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
2021
2020
£
£
Other investments other than loans
590
590
Movements in fixed asset investments
Investments other than loans
£
Cost or valuation
At 1 May 2020 & 30 April 2021
590
Carrying amount
At 30 April 2021
590
At 30 April 2020
590
HW FISHER & COMPANY LIMITED
(FORMERLY KNOWN AS HW FISHER BUSINESS SOLUTIONS LIMITED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2021
- 4 -
4
Debtors
2021
2020
Amounts falling due within one year:
£
£
Trade debtors
97,521
145,220
Amounts owed by related entities
577,926
252,138
Prepayments
16,815
16,462
Accrued income
18,015
692,262
431,835
5
Creditors: amounts falling due within one year
2021
2020
£
£
Trade creditors
43
Amounts owed to related entities
241,367
44,053
Corporation tax
13,623
4,617
Other taxation and social security
45,351
26,210
Accruals
3,000
998
303,384
75,878
6
Called up share capital
2021
2020
£
£
Ordinary share capital
Issued and fully paid
900 Ordinary Shares of 1p
9
9
100 Ordinary B-Shares of 1p each
1
1
100 Ordinary C-Shares of 1p each
1
1
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
On 20 April 2021 a charge over the company’s assets was registered at Companies House which forms part of a cross company guarantee to support the overdraft facility in HW Fisher LLP.
8
Events after the reporting date
As at 1 May 2021 as part of the restructuring of the HW Fisher business, HW Fisher & Company Limited has ceased trading. All remaining clients have been transferred to its immediate holding company HW Fisher Business Services Limited.
HW FISHER & COMPANY LIMITED
(FORMERLY KNOWN AS HW FISHER BUSINESS SOLUTIONS LIMITED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2021
- 5 -
9
Parent company
The immediate parent company is HW Fisher Business Solutions Limited, a company incorporated in England and Wales whose registered office is Acre House, 11-15 William Road, London, NW1 3ER.
10
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.
The senior statutory auditor was Paul Samuels.
The auditor was Heywards.