Company Registration No. 08434711 (England and Wales)
Whichford Pottery Limited
Unaudited accounts
for the year ended 31 August 2023
Whichford Pottery Limited
Unaudited accounts
Contents
Whichford Pottery Limited
Company Information
for the year ended 31 August 2023
Directors
Mrs D E P Keeling
Mr J Keeling
Mr A B Keeling
Ms T S M Keeling
Company Number
08434711 (England and Wales)
Registered Office
Whichford Pottery Limited
Whichford
Nr. Shipston-on-Stour
Warwickshire
CV36 5PG
Accountants
Giles Garratt Limited
10 Broad Walk
Stratford-upon-Avon
Warwickshire
CV37 6HS
Whichford Pottery Limited
Statement of financial position
as at 31 August 2023
Intangible assets
20,600
41,200
Tangible assets
739,403
636,887
Cash at bank and in hand
202,193
247,255
Creditors: amounts falling due within one year
(174,967)
(251,144)
Net current assets
118,195
114,795
Total assets less current liabilities
878,198
792,882
Provisions for liabilities
Deferred tax
(14,281)
(9,079)
Net assets
863,917
783,803
Called up share capital
4
4
Profit and loss account
863,913
783,799
Shareholders' funds
863,917
783,803
For the year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 16 November 2023 and were signed on its behalf by
Mr J Keeling
Director
Company Registration No. 08434711
Whichford Pottery Limited
Notes to the Accounts
for the year ended 31 August 2023
Whichford Pottery Limited is a private company, limited by shares, registered in England and Wales, registration number 08434711. The registered office is Whichford Pottery Limited, Whichford, Nr. Shipston-on-Stour, Warwickshire, CV36 5PG.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible assets are included at cost less depreciation and impairment. Depreciation is provided on all tangible fixed assets, other than freehold land and buildings, at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% reducing balance
Motor vehicles
25% reducing balance
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation. Website costs are being amortised over their estimated useful life of three years.
Government grants in relation to fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Whichford Pottery Limited
Notes to the Accounts
for the year ended 31 August 2023
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Intangible fixed assets
Other
At 1 September 2022
61,800
At 1 September 2022
20,600
Charge for the year
20,600
5
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At cost
At 1 September 2022
589,105
120,591
5,000
714,696
Additions
91,275
30,916
-
122,191
At 31 August 2023
680,380
151,507
5,000
836,887
At 1 September 2022
-
73,476
4,333
77,809
Charge for the year
-
19,508
167
19,675
At 31 August 2023
-
92,984
4,500
97,484
At 31 August 2023
680,380
58,523
500
739,403
At 31 August 2022
589,105
47,115
667
636,887
Amounts falling due within one year
Trade debtors
21,354
43,893
Other debtors
6,806
13,735
Whichford Pottery Limited
Notes to the Accounts
for the year ended 31 August 2023
7
Creditors: amounts falling due within one year
2023
2022
Trade creditors
44,858
105,341
Taxes and social security
81,391
86,969
Other creditors
48,718
58,834
8
Operating lease commitments
2023
2022
At 31 August 2023 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Later than one year and not later than five years
6,370
3,430
9
Average number of employees
During the year the average number of employees was 28 (2022: 29).