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REGISTERED NUMBER: 04662318 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 April 2023

for

Simon C Potts Limited

Simon C Potts Limited (Registered number: 04662318)






Contents of the Financial Statements
for the Year Ended 30 April 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Simon C Potts Limited

Company Information
for the Year Ended 30 April 2023







DIRECTOR: Mr S C Potts





SECRETARY: Mrs M D Potts





REGISTERED OFFICE: C/o T. G. Baynes Solicitors
208 Broadway
Bexleyheath
Kent
DA6 7BG





REGISTERED NUMBER: 04662318 (England and Wales)





ACCOUNTANTS: Franklins
1 Pinnacle Way
Pride Park
Derby
Derbyshire
DE24 8ZS

Simon C Potts Limited (Registered number: 04662318)

Balance Sheet
30 April 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 32,500 65,000
Tangible assets 5 2,116 2,822
34,616 67,822

CURRENT ASSETS
Debtors 6 874,943 657,556
Cash at bank 53,723 6,799
928,666 664,355
CREDITORS
Amounts falling due within one year 7 142,225 92,995
NET CURRENT ASSETS 786,441 571,360
TOTAL ASSETS LESS CURRENT
LIABILITIES

821,057

639,182

CAPITAL AND RESERVES
Called up share capital 8 101 101
Revaluation reserve 9 164,292 80,257
Retained earnings 9 656,664 558,824
SHAREHOLDERS' FUNDS 821,057 639,182

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Simon C Potts Limited (Registered number: 04662318)

Balance Sheet - continued
30 April 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 17 November 2023 and were signed by:





Mr S C Potts - Director


Simon C Potts Limited (Registered number: 04662318)

Notes to the Financial Statements
for the Year Ended 30 April 2023

1. STATUTORY INFORMATION

Simon C Potts Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents the company's share of the profits in the partnerships

Goodwill
Purchased goodwill is amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives as follows:

Goodwill - twenty years

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2022
and 30 April 2023 650,000
AMORTISATION
At 1 May 2022 585,000
Charge for year 32,500
At 30 April 2023 617,500
NET BOOK VALUE
At 30 April 2023 32,500
At 30 April 2022 65,000

Goodwill arose on the purchase of the company's share in the partnership

Simon C Potts Limited (Registered number: 04662318)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 May 2022
and 30 April 2023 3,762
DEPRECIATION
At 1 May 2022 940
Charge for year 706
At 30 April 2023 1,646
NET BOOK VALUE
At 30 April 2023 2,116
At 30 April 2022 2,822

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Due From Partnerships 716,981 576,048
Directors' current accounts 157,962 81,508
874,943 657,556

Other than as stated under directors loan account above, none of the above amounts related to amounts due from the director or shareholder of the company either directly or indirectly.

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Tax 97,343 91,593
Social security and other taxes 1,676 568
Other creditors 41,100 -
Accruals and deferred income 2,106 834
142,225 92,995

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:
Nominal
Value:

2023
£

2022
£

51 Ordinary A £1 51 51
1 Ordinary B £1 1 1
39 Ordinary C £1 39 39
10 Ordinary D £1 10 10
101 101

Simon C Potts Limited (Registered number: 04662318)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

9. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 May 2022 558,824 80,257 639,081
Profit for the year 366,989 366,989
Dividends (234,400 ) (234,400 )
Revaluation in year - 49,286 49,286
Transfer from/to revaluation (34,749 ) 34,749 -
At 30 April 2023 656,664 164,292 820,956

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 April 2023 and 30 April 2022:

2023 2022
£    £   
Mr S C Potts
Balance outstanding at start of year 81,508 -
Amounts advanced 281,239 162,009
Amounts repaid (204,785 ) (80,501 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 157,962 81,508

The director's loan account was repaid within nine months of the year end. Interest was charged on the overdrawn director's loan account at HM Revenue & Customs official rate of interest during the year being 2% to the 5th April 2023, and 2.25% thereafter.