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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 |
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ROBINSON & FISHER LIMITED |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 |
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FOR |
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ROBINSON & FISHER LIMITED |
ROBINSON & FISHER LIMITED (REGISTERED NUMBER: 00273820) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2021 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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ROBINSON & FISHER LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2021 |
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Directors: |
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Registered office: |
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Registered number: |
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ROBINSON & FISHER LIMITED (REGISTERED NUMBER: 00273820) |
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BALANCE SHEET |
31 MARCH 2021 |
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31.3.21 | 31.3.20 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 3 |
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Investment property | 4 |
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CURRENT ASSETS |
Property under development |
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Debtors | 5 |
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Partnership net current assets | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS/(LIABILITIES) |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
8 |
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PROVISIONS FOR LIABILITIES | 10 | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 11 |
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Other reserves |
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Fair value reserve |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
ROBINSON & FISHER LIMITED (REGISTERED NUMBER: 00273820) |
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BALANCE SHEET - continued |
31 MARCH 2021 |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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ROBINSON & FISHER LIMITED (REGISTERED NUMBER: 00273820) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2021 |
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1. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets. |
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Turnover |
Turnover represents rents receivable from investment property. Turnover is presented net of rebates and discounts and is recognised when the investment properties are occupied by tenants. |
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Tangible fixed assets |
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Fixtures and fittings | - |
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Computer equipment | - |
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Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
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Stocks |
Work in progress is valued at the lower of cost and net realisable value. |
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Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing property under development to their present location and condition. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
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Current asset investments |
Investments in subsidiary, associates and jointly controlled entities are included at fair value. The share of profit or loss from the Ann Street LLP for its accounting period ending within the accounting period of the company is included in the accounts of that period of the company as a value adjustment. |
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2. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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ROBINSON & FISHER LIMITED (REGISTERED NUMBER: 00273820) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2021 |
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3. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Computer |
fittings | equipment | Totals |
£ | £ | £ |
Cost |
At 1 April 2020 |
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Disposals | ( |
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At 31 March 2021 |
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Depreciation |
At 1 April 2020 |
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Charge for year |
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Eliminated on disposal | ( |
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At 31 March 2021 |
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Net book value |
At 31 March 2021 |
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At 31 March 2020 |
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4. | INVESTMENT PROPERTY |
Total |
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Fair value |
At 1 April 2020 |
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Additions |
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Revaluations | (22,490 | ) |
Reclassification/transfer | (1,075,000 | ) |
At 31 March 2021 |
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Net book value |
At 31 March 2021 |
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At 31 March 2020 |
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The majority of the company's residential investment properties were valued in October 2020 by Gibbs Gillespie Surveyors. Two residential investment properties were valued by the directors as at 12 October 2020 by reference to reputable third party information. The accounts reflect these valuations. The directors have obtained permission to redevelop the final residential property into five units. That property has been reclassified as a current asset. All property valuations are based on open market values. The directors do not consider the valuations of the properties at those dates to be materially different from their values at 31 March 2021. |
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No depreciation is provided for in respect of investment properties in accordance with the Financial Reporting Standard 102. Such properties are held for their investment potential and not for the consumption of the business. This is a departure from the Companies Act 2006 which requires all properties to be depreciated but the directors consider that to depreciate them would not permit the financial statements to give a true and fair view. |
ROBINSON & FISHER LIMITED (REGISTERED NUMBER: 00273820) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2021 |
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4. | INVESTMENT PROPERTY - continued |
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Fair value at 31 March 2021 is represented by: |
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Valuation in 2020 | (22,490 | ) |
Valuation in 2019 | (46,000 | ) |
Valuation in 2016 | (406,292 | ) |
Valuation in 2015 | 1,660,420 |
Valuation in 2012 | 1,403,338 |
Cost | 1,440,724 |
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5. | DEBTORS LESS THAN ONE YEAR |
31.3.21 | 31.3.20 |
£ | £ |
Other debtors |
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6. | PARTNERSHIP NET CURRENT ASSETS |
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Partnership net current assets comprises the company's share of the net current assets of Ann Street LLP. |
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The makeup of this figure is as follows: |
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31.3.21 | 31.3.20 |
£ | £ |
Stock | - | 2,490 |
Debtors | - | 3,465 |
Cash | - | 17 |
Creditors | - | (147 | ) |
- | 5,825 |
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The directors consider that, in order to show a true and fair view, the company's share of the net assets of the Ann Street LLP should be included within current assets on the balance sheet. These accounts have been prepared on that basis. |
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The share of the loss from the Ann Street LLP for its accounting period ending within the accounting period of the company is included in the accounts of that period of the company. The company's share of the loss of the Ann Street LLP for the year ended 31 March 2021 was £5,825. |
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Ann Street LLP ceased trading on 19 May 2021. |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.21 | 31.3.20 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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ROBINSON & FISHER LIMITED (REGISTERED NUMBER: 00273820) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2021 |
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8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
31.3.21 | 31.3.20 |
£ | £ |
Bank loans |
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9. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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31.3.21 | 31.3.20 |
£ | £ |
Bank loans |
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The bank loan is secured by a legal charge over a number of investment properties in London owned by the company. |
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10. | PROVISIONS FOR LIABILITIES |
31.3.21 | 31.3.20 |
£ | £ |
Deferred tax |
Accelerated capital allowances | ( |
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Other timing differences | (15,145 | ) | (11,017 | ) |
Property revaluations | 615,816 | 620,088 |
598,647 | 607,089 |
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Deferred |
tax |
£ |
Balance at 1 April 2020 |
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Provided during year | ( |
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Balance at 31 March 2021 |
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11. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.3.21 | 31.3.20 |
value: | £ | £ |
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A Ordinary | £1.00 | 18,495 | 18,495 |
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B Ordinary | £1.00 | 18,495 | 18,495 |
36,990 | 36,990 |
ROBINSON & FISHER LIMITED (REGISTERED NUMBER: 00273820) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2021 |
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12. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to a director subsisted during the years ended 31 March 2021 and 31 March 2020: |
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31.3.21 | 31.3.20 |
£ | £ |
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Balance outstanding at start of year | ( |
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Amounts advanced |
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Amounts repaid | ( |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
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13. | ULTIMATE CONTROLLING PARTY |
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The ultimate controlling party is
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