IRIS Accounts Production v23.4.0.336 00931475 Board of Directors 31.3.23 1.4.22 31.3.23 31.3.23 true true true false true true false false false false true false Fair value model Ordinary 0 Ordinary A Shares 0 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh009314752022-03-31009314752023-03-31009314752022-04-012023-03-31009314752021-03-31009314752021-04-012022-03-31009314752022-03-3100931475ns15:EnglandWales2022-04-012023-03-3100931475ns14:PoundSterling2022-04-012023-03-3100931475ns10:Director12022-04-012023-03-3100931475ns10:Consolidated2023-03-3100931475ns10:ConsolidatedGroupCompanyAccounts2022-04-012023-03-3100931475ns10:PrivateLimitedCompanyLtd2022-04-012023-03-3100931475ns10:Consolidatedns10:FRS1022022-04-012023-03-3100931475ns10:Consolidatedns10:Audited2022-04-012023-03-3100931475ns10:LargeMedium-sizedCompaniesRegimeForDirectorsReport2022-04-012023-03-3100931475ns10:LargeMedium-sizedCompaniesRegimeForAccounts2022-04-012023-03-3100931475ns10:Consolidatedns10:LargeMedium-sizedCompaniesRegimeForDirectorsReport2022-04-012023-03-3100931475ns10:LargeMedium-sizedCompaniesRegimeForAccountsns10:Consolidated2022-04-012023-03-3100931475ns10:FullAccounts2022-04-012023-03-3100931475ns5:Subsidiary12022-04-012023-03-3100931475ns5:Subsidiary22022-04-012023-03-3100931475ns10:OrdinaryShareClass12022-04-012023-03-3100931475ns10:OrdinaryShareClass22022-04-012023-03-3100931475ns10:Consolidated2022-04-012023-03-3100931475ns10:Director22022-04-012023-03-3100931475ns10:CompanySecretary12022-04-012023-03-3100931475ns10:RegisteredOffice2022-04-012023-03-3100931475ns10:Consolidated2021-04-012022-03-3100931475ns5:CurrentFinancialInstruments2023-03-3100931475ns5:CurrentFinancialInstruments2022-03-3100931475ns5:Non-currentFinancialInstruments2023-03-3100931475ns5:Non-currentFinancialInstruments2022-03-3100931475ns5:ShareCapital2023-03-3100931475ns5:ShareCapital2022-03-3100931475ns5:RevaluationReserve2023-03-3100931475ns5:RevaluationReserve2022-03-3100931475ns5:RetainedEarningsAccumulatedLosses2023-03-3100931475ns5:RetainedEarningsAccumulatedLosses2022-03-3100931475ns5:ShareCapital2021-03-3100931475ns5:RetainedEarningsAccumulatedLosses2021-03-3100931475ns5:RevaluationReserve2021-03-3100931475ns5:RetainedEarningsAccumulatedLosses2021-04-012022-03-3100931475ns5:RevaluationReserve2021-04-012022-03-3100931475ns5:RetainedEarningsAccumulatedLosses2022-04-012023-03-3100931475ns5:RevaluationReserve2022-04-012023-03-310093147512022-04-012023-03-3100931475ns5:OwnedOrFreeholdAssetsns5:LandBuildings2022-04-012023-03-3100931475ns5:PlantMachinery2022-04-012023-03-3100931475ns5:FurnitureFittings2022-04-012023-03-3100931475ns5:MotorVehicles2022-04-012023-03-3100931475ns5:PlantMachinery2022-03-3100931475ns5:FurnitureFittings2022-03-3100931475ns5:PlantMachinery2023-03-3100931475ns5:FurnitureFittings2023-03-3100931475ns5:PlantMachinery2022-03-3100931475ns5:FurnitureFittings2022-03-3100931475ns5:CostValuation2022-03-3100931475ns5:Subsidiary112022-04-012023-03-31009314753ns5:Subsidiary22022-04-012023-03-3100931475ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3100931475ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-03-3100931475ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2023-03-3100931475ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2022-03-3100931475ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-03-3100931475ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2022-03-3100931475ns5:WithinOneYear2023-03-3100931475ns5:WithinOneYear2022-03-3100931475ns5:BetweenOneFiveYears2023-03-3100931475ns5:BetweenOneFiveYears2022-03-3100931475ns5:AllPeriods2023-03-3100931475ns5:AllPeriods2022-03-3100931475ns5:Secured2023-03-3100931475ns5:Secured2022-03-3100931475ns5:DeferredTaxation2022-03-3100931475ns5:DeferredTaxation2022-04-012023-03-3100931475ns5:DeferredTaxation2023-03-3100931475ns10:OrdinaryShareClass12023-03-3100931475ns10:OrdinaryShareClass22023-03-3100931475ns5:RetainedEarningsAccumulatedLosses2022-03-3100931475ns5:RevaluationReserve2022-03-31
REGISTERED NUMBER: 00931475 (England and Wales)




GROUP STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

W POTTER & SONS (HOLDINGS) LIMITED

W POTTER & SONS (HOLDINGS) LIMITED (REGISTERED NUMBER: 00931475)






CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS
for the year ended 31 March 2023




Page

Company Information 1

Group Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Consolidated Income Statement 9

Consolidated Other Comprehensive Income 10

Consolidated Balance Sheet 11

Company Balance Sheet 12

Consolidated Statement of Changes in Equity 13

Company Statement of Changes in Equity 14

Consolidated Cash Flow Statement 15

Notes to the Consolidated Cash Flow Statement 16

Notes to the Consolidated Financial Statements 17


W POTTER & SONS (HOLDINGS) LIMITED

COMPANY INFORMATION
for the year ended 31 March 2023







DIRECTORS: O J Stacey
J M Potter





SECRETARY: C Parker





REGISTERED OFFICE: Pro Logis Park
Oxford Road
Ryton on Dunsmore
Coventry
Warwickshire
CV8 3EJ





REGISTERED NUMBER: 00931475 (England and Wales)





AUDITORS: Luckmans Duckett Parker Limited
Chartered Accountants
Statutory Auditors
1110 Elliott Court
Herald Avenue
Coventry Business Park
Coventry
West Midlands
CV5 6UB

W POTTER & SONS (HOLDINGS) LIMITED (REGISTERED NUMBER: 00931475)

GROUP STRATEGIC REPORT
for the year ended 31 March 2023

The directors present their strategic report of the company and the group for the year ended 31 March 2023.

REVIEW OF BUSINESS
Whilst group turnover increased by 4.8% during the year from £11.63m in 2022 to £12.191m in 2023, overall trading conditions continue to be challenging from high energy costs, increase in grain prices and reduced customer demand which resulted in the group operating loss of £165K. Overall loss for the year stood at £492K due to rising interest rates on loans. Net assets at the balance sheet date stood at £2.106m (2022: £2.746m).

The Group is beginning to see a modest up turn in business both in the UK and promising increases in demand in the overseas markets. In addition, the Leigh Road property was sold in March 2024, enabling release of part of the debt structure and providing cashflow support going forward.

Financial Risk Management
Price risk, credit risk, liquidity risk and cash flow risk

The Group is exposed to commodity price risk in particular with regards to steel, plastic, wheat, soya and energy. The Group manages its exposure to commodity price risk by negotiating fixed price contracts where appropriate and by ensuring that sales contracts are structured to be able to pass on any increases in these costs.

The business' activities expose it to the financial risks of foreign currency exchange rates. The Group manages it's exposure to foreign currency risk with forward contracts, where appropriate.

The business' principal financial instruments compose bank balances, bank overdrafts, trade debtors, trade creditors and loans to the business. Working capital requirements are reviewed regularly to ensure that trade creditors and overdraft facilities are managed appropriately, to minimise any liquidity risk.

Trade debtors are managed in respect of credit and cashflow risk. Credit offered to customers is assessed and outstanding amounts are monitored on a regular basis.

Loans and loan repayments are managed to meet the cash flow requirements of the business, ensuring that there are sufficient funds to meet all payments.

ON BEHALF OF THE BOARD:





J M Potter - Director


28 March 2024

W POTTER & SONS (HOLDINGS) LIMITED (REGISTERED NUMBER: 00931475)

REPORT OF THE DIRECTORS
for the year ended 31 March 2023

The directors present their report with the financial statements of the company and the group for the year ended 31 March 2023.

PRINCIPAL ACTIVITY
The principal activity of the group in the year under review was that of rearing poultry for sale to the egg laying industry and provision of farm services.

DIVIDENDS
No dividends will be distributed for the year ended 31 March 2023.

The directors recommend that no final dividend be paid.

EVENTS SINCE THE END OF THE YEAR
Information relating to events since the end of the year is given in the notes to the financial statements.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 April 2022 to the date of this report.

O J Stacey
J M Potter

OTHER MATTERS
Information required under Schedule 7 of the Large and Medium-sized Companies and Group (Accounts and Reports Regulations) 2008 to be disclosed in the directors' report are set out in the strategic report in accordance with S414C(11)Companies Act 2006.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

W POTTER & SONS (HOLDINGS) LIMITED (REGISTERED NUMBER: 00931475)

REPORT OF THE DIRECTORS
for the year ended 31 March 2023


AUDITORS
The auditors, Luckmans Duckett Parker Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





J M Potter - Director


28 March 2024

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
W POTTER & SONS (HOLDINGS) LIMITED

Opinion
We have audited the financial statements of W Potter & Sons (Holdings) Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 March 2023 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 31 March 2023 and of the group's loss for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
W POTTER & SONS (HOLDINGS) LIMITED


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
W POTTER & SONS (HOLDINGS) LIMITED


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

In identifying and assessing the risk of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

- reference to past history and experience of the Group and knowledge of the Sector,
- enquiry of management, including obtaining and reviewing supporting documentation concerning
the Group's procedures relating to:

-identifying and complying with laws and regulations and whether they were aware of any instances
of non-compliance;

-detection and response to risk of fraud and whether they were aware of any actual or suspected
instances of fraud.
- assessment of the controls and processes that the Group has in place to mitigate risk

Our assessments included the identification of the following potential areas for fraud:
- Management override of control;
- Revenue recognition; specifically recognition of sales according to date of shipment and
consideration of the application of long term contract accounting

We design audit procedures by tailored and directed testing to aid and support the level of determined level of risk. In response to the assessed risk we plan audit tests and procedures that target specific areas where misstatement may occur. These procedures and the extent to which they are capable of detecting irregularities, including fraud, are detailed below:


- We critically assessed the appropriateness and tested the application of the revenue and cost
recognition policies
- We tested the appropriateness of accounting journals and other adjustments made in the
preparation of the financial statements
- We reviewed the Group's accounting policies for non-compliance with relevant standards.
- We made enquiries of management and reviewed correspondence with the relevant authorities to
identify any irregularities or instances of non-compliance with laws and regulations

In performing an audit in accordance with UK GAAP, we exercise professional judgement and maintain professional scepticism throughout the audit process.

All engagement team members were made aware of relevant identified laws and regulations and potential fraud risks and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion or override of internal controls. There are inherent limitations in the audit procedures performed.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
W POTTER & SONS (HOLDINGS) LIMITED


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Mark Spafford FCCA FCA (Senior Statutory Auditor)
for and on behalf of Luckmans Duckett Parker Limited
Chartered Accountants
Statutory Auditors
1110 Elliott Court
Herald Avenue
Coventry Business Park
Coventry
West Midlands
CV5 6UB

28 March 2024

W POTTER & SONS (HOLDINGS) LIMITED (REGISTERED NUMBER: 00931475)

CONSOLIDATED
INCOME STATEMENT
for the year ended 31 March 2023

2023 2022
Notes £    £   

TURNOVER 3 12,191,732 11,630,298

Cost of sales 11,065,307 10,810,886
GROSS PROFIT 1,126,425 819,412

Administrative expenses 1,400,100 1,534,271
(273,675 ) (714,859 )

Other operating income 108,365 139,761
OPERATING LOSS 5 (165,310 ) (575,098 )

Interest receivable and similar income 605 -
(164,705 ) (575,098 )

Interest payable and similar expenses 6 328,089 253,090
LOSS BEFORE TAXATION (492,794 ) (828,188 )

Tax on loss 7 112,893 9,894
LOSS FOR THE FINANCIAL YEAR (605,687 ) (838,082 )
Loss attributable to:
Owners of the parent (605,687 ) (838,082 )

W POTTER & SONS (HOLDINGS) LIMITED (REGISTERED NUMBER: 00931475)

CONSOLIDATED
OTHER COMPREHENSIVE INCOME
for the year ended 31 March 2023

2023 2022
Notes £    £   

LOSS FOR THE YEAR (605,687 ) (838,082 )


OTHER COMPREHENSIVE INCOME
Deferred tax FH property revaluation - 760,000
Income tax relating to other
comprehensive income

(34,231

)

(144,400

)
OTHER COMPREHENSIVE INCOME
FOR THE YEAR, NET OF INCOME TAX

(34,231

)

615,600
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

(639,918

)

(222,482

)

Total comprehensive income attributable to:
Owners of the parent (639,918 ) (222,482 )

W POTTER & SONS (HOLDINGS) LIMITED (REGISTERED NUMBER: 00931475)

CONSOLIDATED BALANCE SHEET
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 9 6,286,191 6,447,471
Investments 10 - -
Investment property 11 - -
6,286,191 6,447,471

CURRENT ASSETS
Stocks 12 717,837 1,371,644
Debtors 13 1,648,279 2,143,231
Cash at bank and in hand 171,894 209,606
2,538,010 3,724,481
CREDITORS
Amounts falling due within one year 14 3,915,210 3,413,426
NET CURRENT (LIABILITIES)/ASSETS (1,377,200 ) 311,055
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,908,991

6,758,526

CREDITORS
Amounts falling due after more than one
year

15

(2,112,431

)

(3,470,379

)

PROVISIONS FOR LIABILITIES 19 (690,571 ) (542,240 )
NET ASSETS 2,105,989 2,745,907

CAPITAL AND RESERVES
Called up share capital 20 132 132
Revaluation reserve 21 1,359,881 1,394,112
Retained earnings 21 745,976 1,351,663
SHAREHOLDERS' FUNDS 2,105,989 2,745,907

The financial statements were approved by the Board of Directors and authorised for issue on 28 March 2024 and were signed on its behalf by:





J M Potter - Director


W POTTER & SONS (HOLDINGS) LIMITED (REGISTERED NUMBER: 00931475)

COMPANY BALANCE SHEET
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 9 62,679 87,669
Investments 10 200 200
Investment property 11 5,959,800 5,959,800
6,022,679 6,047,669

CURRENT ASSETS
Debtors 13 324,211 592,443
Cash at bank 3,009 1,882
327,220 594,325
CREDITORS
Amounts falling due within one year 14 1,562,328 6,118
NET CURRENT (LIABILITIES)/ASSETS (1,235,108 ) 588,207
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,787,571

6,635,876

CREDITORS
Amounts falling due after more than one
year

15

(2,102,763

)

(3,446,937

)

PROVISIONS FOR LIABILITIES 19 (690,571 ) (542,240 )
NET ASSETS 1,994,237 2,646,699

CAPITAL AND RESERVES
Called up share capital 20 132 132
Revaluation reserve 21 1,359,881 1,394,112
Retained earnings 21 634,224 1,252,455
SHAREHOLDERS' FUNDS 1,994,237 2,646,699

Company's loss for the financial year (652,462 ) (50,891 )

The financial statements were approved by the Board of Directors and authorised for issue on 28 March 2024 and were signed on its behalf by:





J M Potter - Director


W POTTER & SONS (HOLDINGS) LIMITED (REGISTERED NUMBER: 00931475)

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
for the year ended 31 March 2023

Called up
share Retained Revaluation Total
capital earnings reserve equity
£    £    £    £   
Balance at 1 April 2021 132 2,189,745 778,512 2,968,389

Changes in equity
Total comprehensive income - (838,082 ) 615,600 (222,482 )
Balance at 31 March 2022 132 1,351,663 1,394,112 2,745,907

Changes in equity
Total comprehensive income - (605,687 ) (34,231 ) (639,918 )
Balance at 31 March 2023 132 745,976 1,359,881 2,105,989

W POTTER & SONS (HOLDINGS) LIMITED (REGISTERED NUMBER: 00931475)

COMPANY STATEMENT OF CHANGES IN EQUITY
for the year ended 31 March 2023

Called up
share Retained Revaluation Total
capital earnings reserve equity
£    £    £    £   
Balance at 1 April 2021 132 1,918,946 778,512 2,697,590

Changes in equity
Total comprehensive income - (50,891 ) - (50,891 )
Reserve transfer - (615,600 ) 615,600 -
Balance at 31 March 2022 132 1,252,455 1,394,112 2,646,699

Changes in equity
Total comprehensive income - (652,462 ) - (652,462 )
Reserve transfer - 34,231 (34,231 ) -
Balance at 31 March 2023 132 634,224 1,359,881 1,994,237

W POTTER & SONS (HOLDINGS) LIMITED (REGISTERED NUMBER: 00931475)

CONSOLIDATED CASH FLOW STATEMENT
for the year ended 31 March 2023

2023 2022
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 11,480 (96,131 )
Interest paid (324,920 ) (210,530 )
Interest element of hire purchase
payments paid

(3,169

)

(6,607

)
Tax paid (6,661 ) -
Net cash from operating activities (323,270 ) (313,268 )

Cash flows from investing activities
Purchase of tangible fixed assets (34,673 ) (83,898 )
Sale of tangible fixed assets 125,179 68,994
Interest received 605 -
Net cash from investing activities 91,111 (14,904 )

Cash flows from financing activities
New loan - 1,357,564
Loan repayments in year - (825,000 )
Bank loan repaid (3,115 ) (32,141 )
Capital repayments in year (16,724 ) (30,262 )
Amount introduced by directors 225,000 -
Amount withdrawn by directors (10,714 ) (16,292 )
Net cash from financing activities 194,447 453,869

(Decrease)/increase in cash and cash equivalents (37,712 ) 125,697
Cash and cash equivalents at
beginning of year

2

209,606

83,909

Cash and cash equivalents at end of
year

2

171,894

209,606

W POTTER & SONS (HOLDINGS) LIMITED (REGISTERED NUMBER: 00931475)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT
for the year ended 31 March 2023

1. RECONCILIATION OF LOSS BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS
2023 2022
£    £   
Loss before taxation (492,794 ) (828,188 )
Depreciation charges 137,107 220,473
Profit on disposal of fixed assets (66,334 ) (10,986 )
Finance charges 13,390 -
Finance costs 328,089 253,090
Finance income (605 ) -
(81,147 ) (365,611 )
Decrease/(increase) in stocks 653,807 (798,116 )
Decrease/(increase) in trade and other debtors 479,313 (135,290 )
(Decrease)/increase in trade and other creditors (1,040,493 ) 1,202,886
Cash generated from operations 11,480 (96,131 )

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 March 2023
31.3.23 1.4.22
£    £   
Cash and cash equivalents 171,894 209,606
Year ended 31 March 2022
31.3.22 1.4.21
£    £   
Cash and cash equivalents 209,606 83,909


3. ANALYSIS OF CHANGES IN NET DEBT

Other
non-cash
At 1.4.22 Cash flow changes At 31.3.23
£    £    £    £   
Net cash
Cash at bank
and in hand 209,606 (37,712 ) 171,894
209,606 (37,712 ) 171,894
Debt
Finance leases (16,724 ) 16,724 - -
Debts falling due
within 1 year (3,933 ) - (1,357,564 ) (1,361,497 )
Debts falling due
after 1 year (3,459,720 ) 3,115 1,344,174 (2,112,431 )
(3,480,377 ) 19,839 (13,390 ) (3,473,928 )
Total (3,270,771 ) (17,873 ) (13,390 ) (3,302,034 )

W POTTER & SONS (HOLDINGS) LIMITED (REGISTERED NUMBER: 00931475)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
for the year ended 31 March 2023

1. STATUTORY INFORMATION

W Potter & Sons (Holdings) 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 General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The financial statements have been prepared on the going concern basis. The Group's ability to continue trading is dependent upon management of cashflow. Following the sale of a freehold property in the parent company, the parent company is now looking to support group cash flow over the next 12 months to stabilise the overall business and to support growth in certain markets. The directors believe that there is sufficient cash flow to support the business over the next 12 month and that the company is therefore a going concern for the foreseeable future. The Directors consider it appropriate to prepare the financial statements on the going concern basis.

Basis of consolidation
The financial statements have been produced in accordance with the acquisition method set out in Section 9 paragraph 13 onwards of FRS102.

The financial statements consolidate the results of the company and all it's subsidiaries for the year ended 31st March 2023 and shows the results of the group for the year to 31st March 2023.

Judgements and key sources of estimation uncertainty
No significant judgements have been made in the process of applying the accounting policies.

There are no key sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Turnover
Turnover is measured at the fair value of the consideration received or receivable. The policies adopted for the recognition of turnover are as follows:

Farm Services and Rearing
Turnover represents the sale of poultry housing systems and the sale of rearing poultry to the egg laying industry.

Sales are accounted for as long term contracts under the provisions of Section 23 FRS102. Contract costs and turnover are recognised by reference to the stage of completion at the balance sheet date. Stage of completion is measured by reference to the proportion of total costs incurred at the balance sheet date.

Where the outcome cannot be measured reliably, contract costs are recognised as an expense in the period in which they are incurred and contract turnover is recognised to the extent of costs incurred that is probable will be recoverable.

When it is probable that contract costs will exceed the total contract turnover, the expected loss is recognised as an expense immediately, with a corresponding provision.

W POTTER & SONS (HOLDINGS) LIMITED (REGISTERED NUMBER: 00931475)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the year ended 31 March 2023

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 2% on cost
Plant and machinery - 15% on cost and 5% on cost
Fixtures and fittings - 15% on cost
Motor vehicles - 25% straight line and 25% on cost

Tangible fixed assets are stated at cost or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

The group follows a revaluation policy in line with Section 17.15 FRS102.

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items, on a first in, first out basis.

Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress. Contracts are reviewed at each year end and accounted for in accordance with the provisions of Section 23 FRS102.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

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.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase agreements
Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the future payments is treated as a liability and the interest is charged to the profit and loss account.

W POTTER & SONS (HOLDINGS) LIMITED (REGISTERED NUMBER: 00931475)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the year ended 31 March 2023

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

Operating lease commitments
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease in accordance with section 20.15 FRS102.

Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

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.

3. TURNOVER

The turnover and loss before taxation are attributable to the one principal activity of the group.

An analysis of turnover by geographical market is given below:

2023 2022
£    £   
United Kingdom 6,116,337 5,088,925
Europe 114,428 -
United States of America 5,203,675 6,303,293
Asia 291,198 166,704
Australia 49,632 14,262
Canada 416,462 57,114
12,191,732 11,630,298

4. EMPLOYEES AND DIRECTORS
2023 2022
£    £   
Wages and salaries 1,230,242 1,363,751
Social security costs 115,985 118,047
Other pension costs 27,208 42,195
1,373,435 1,523,993

The average number of employees during the year was as follows:
2023 2022

Directors 2 2
Administration and Finance 6 5
Rearing and Farm Services 28 31
36 38

The average number of employees by undertakings that were proportionately consolidated during the year was 36 (2022 - 38 ) .

W POTTER & SONS (HOLDINGS) LIMITED (REGISTERED NUMBER: 00931475)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the year ended 31 March 2023

4. EMPLOYEES AND DIRECTORS - continued

2023 2022
£    £   
Directors' remuneration 188,424 181,200

5. OPERATING LOSS

The operating loss is stated after charging/(crediting):

2023 2022
£    £   
Depreciation - owned assets 123,044 199,621
Depreciation - assets on hire purchase contracts 14,064 20,852
Profit on disposal of fixed assets (66,334 ) (10,986 )
Auditors' remuneration 25,552 24,500
Foreign exchange differences (19,614 ) 26,447

6. INTEREST PAYABLE AND SIMILAR EXPENSES
2023 2022
£    £   
Bank interest 4,684 3,102
Bank loan interest 2,103 -
Loan 317,914 243,381
Late payment interest 219 -
Hire purchase charges 3,169 6,607
328,089 253,090

7. TAXATION

Analysis of the tax charge
The tax charge on the loss for the year was as follows:
2023 2022
£    £   
Current tax:
UK corporation tax 4 1,211
Prior year adjustment (1,211 ) -
Total current tax (1,207 ) 1,211

Deferred tax 114,100 8,683
Tax on loss 112,893 9,894

W POTTER & SONS (HOLDINGS) LIMITED (REGISTERED NUMBER: 00931475)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the year ended 31 March 2023

7. TAXATION - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2023 2022
£    £   
Loss before tax (492,794 ) (828,188 )
Loss multiplied by the standard rate of corporation tax in the UK of
19 % (2022 - 19 %)

(93,631

)

(157,356

)

Effects of:
Expenses not deductible for tax purposes 3,459 8,895
Depreciation in excess of capital allowances 20,599 23,682
Loss utilisation (1,211 ) -
Difference in US tax rates (2,793 ) 471
Deferred taxation 114,100 8,683
credit
Tax losses carried forward 72,370 125,519

Total tax charge 112,893 9,894

Tax effects relating to effects of other comprehensive income

2023
Gross Tax Net
£    £    £   
Deferred tax FH property revaluation - (34,231 ) (34,231 )

2022
Gross Tax Net
£    £    £   
Freehold property revaluation 760,000 (144,400 ) 615,600

8. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Statement of Comprehensive Income of the parent company is not presented as part of these financial statements.


W POTTER & SONS (HOLDINGS) LIMITED (REGISTERED NUMBER: 00931475)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the year ended 31 March 2023

9. TANGIBLE FIXED ASSETS

Group
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST OR VALUATION
At 1 April 2022 5,885,603 1,161,779 363,311 405,566 7,816,259
Additions - 33,723 - 950 34,673
Disposals - (89,021 ) - (68,871 ) (157,892 )
At 31 March 2023 5,885,603 1,106,481 363,311 337,645 7,693,040
DEPRECIATION
At 1 April 2022 8,700 781,250 250,224 328,614 1,368,788
Charge for year - 70,540 24,990 41,578 137,108
Eliminated on disposal - (45,624 ) - (53,423 ) (99,047 )
At 31 March 2023 8,700 806,166 275,214 316,769 1,406,849
NET BOOK VALUE
At 31 March 2023 5,876,903 300,315 88,097 20,876 6,286,191
At 31 March 2022 5,876,903 380,529 113,087 76,952 6,447,471

Cost or valuation at 31 March 2023 is represented by:

Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
Valuation in 2019 347,709 - - - 347,709
Valuation in 2021 194,870 - - - 194,870
Valuation in 2022 760,000 - - - 760,000
Cost 4,583,024 1,106,481 363,311 337,645 6,390,461
5,885,603 1,106,481 363,311 337,645 7,693,040

If freehold land and buildings had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 4,583,024 4,583,024

Freehold land and buildings were valued on an open market basis basis on 23 June 2020 by Fisher German and one site on 10/3/2022 .

W POTTER & SONS (HOLDINGS) LIMITED (REGISTERED NUMBER: 00931475)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the year ended 31 March 2023

9. TANGIBLE FIXED ASSETS - continued

Group

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST OR VALUATION
At 1 April 2022 70,027 33,373 103,400
Disposals - (33,373 ) (33,373 )
At 31 March 2023 70,027 - 70,027
DEPRECIATION
At 1 April 2022 47,268 13,325 60,593
Charge for year 10,504 3,560 14,064
Eliminated on disposal - (16,885 ) (16,885 )
At 31 March 2023 57,772 - 57,772
NET BOOK VALUE
At 31 March 2023 12,255 - 12,255
At 31 March 2022 22,759 20,048 42,807

Company
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 April 2022
and 31 March 2023 75,919 336,882 412,801
DEPRECIATION
At 1 April 2022 75,919 249,213 325,132
Charge for year - 24,990 24,990
At 31 March 2023 75,919 274,203 350,122
NET BOOK VALUE
At 31 March 2023 - 62,679 62,679
At 31 March 2022 - 87,669 87,669

W POTTER & SONS (HOLDINGS) LIMITED (REGISTERED NUMBER: 00931475)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the year ended 31 March 2023

10. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertakings
£   
COST
At 1 April 2022
and 31 March 2023 200
NET BOOK VALUE
At 31 March 2023 200
At 31 March 2022 200

The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiaries

Potters Poultry Limited
Registered office: Pro Logis Park, Oxford Rd, Ryton on Dunsmore CV8 3EJ
Nature of business: Poultry rearing and farm services provision
%
Class of shares: holding
Ordinary 100.00

Potters Poultry International Limited
Registered office: Pro Logis Park, Oxford Rd, Ryton on Dunsmore CV8 3EJ
Nature of business: provision of farm services
%
Class of shares: holding
Ordinary 100.00

Potters Poultry Inc
Registered office: USA
Nature of business: provision of farm services
%
Class of shares: holding
Ordinary 100.00


11. INVESTMENT PROPERTY
Company
Total
£   
FAIR VALUE
At 1 April 2022
and 31 March 2023 5,959,800
NET BOOK VALUE
At 31 March 2023 5,959,800
At 31 March 2022 5,959,800


W POTTER & SONS (HOLDINGS) LIMITED (REGISTERED NUMBER: 00931475)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the year ended 31 March 2023

12. STOCKS

Group
2023 2022
£    £   
Stocks 551,264 780,665
Work-in-progress 166,573 590,979
717,837 1,371,644

13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2023 2022 2023 2022
£    £    £    £   
Trade debtors 927,265 1,103,158 - -
Amounts owed by group undertakings - - 793,031 515,394
Amounts recoverable on contract 538,558 634,001 - -
Other debtors - 1,464 - -
Loan provision - - (469,288 ) -
Directors' current accounts - 15,640 - -
VAT 51,875 - - -
Prepayments and accrued income 130,581 388,968 468 77,049
1,648,279 2,143,231 324,211 592,443

14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2023 2022 2023 2022
£    £    £    £   
Bank loans and overdrafts (see note 16) 3,933 3,933 - -
Other loans (see note 16) 1,357,564 - 1,357,564 -
Hire purchase contracts (see note 17) - 6,065 - -
Trade creditors 1,580,127 1,549,813 725 725
Amounts owed to group undertakings - - 5,393 5,393
Tax - 7,868 - -
Social security and other taxes 49,734 41,054 - -
Other creditors 74,251 124,787 - -
Payments received on account 611,408 1,239,494 - -
Directors' current accounts 198,646 - 198,646 -
Accrued expenses 39,547 440,412 - -
3,915,210 3,413,426 1,562,328 6,118

15. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

Group Company
2023 2022 2023 2022
£    £    £    £   
Bank loans (see note 16) 9,668 12,783 - -
Other loans (see note 16) 2,102,763 3,446,937 2,102,763 3,446,937
Hire purchase contracts (see note 17) - 10,659 - -
2,112,431 3,470,379 2,102,763 3,446,937

W POTTER & SONS (HOLDINGS) LIMITED (REGISTERED NUMBER: 00931475)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the year ended 31 March 2023

16. LOANS

An analysis of the maturity of loans is given below:

Group Company
2023 2022 2023 2022
£    £    £    £   
Amounts falling due within one year or on demand:
Bank loans 3,933 3,933 - -
Other loans 1,357,564 - 1,357,564 -
1,361,497 3,933 1,357,564 -
Amounts falling due between one and two years:
Bank loans - 1-2 years 3,933 3,933 - -
Other loans - 1-2 years - 1,357,564 - 1,357,564
3,933 1,361,497 - 1,357,564
Amounts falling due between two and five years:
Bank loans - 2-5 years 5,735 8,850 - -
Other loans - 2-5 years 2,102,763 - 2,102,763 -
2,108,498 8,850 2,102,763 -
Amounts falling due in more than five years:
Repayable by instalments
Other loans more 5yrs instal - 2,089,373 - 2,089,373

The loan totalling £2,102,763 is subject to an interest charge of 7.85% plus base and is repayable in one instalment at the end of the loan term on 28/8/2027.
The loan totalling £1,357,564 is subject to an interest charge of 0.65% per month and is repayable in full on 11/9/2023.After the end of the accounting period, the repayment term has been extended to the earlier of within 5 business days of written demand by the Agent, and 10th May 2024. The interest rate during the revised term is base+5%. This loan has been repaid in full in March 2024.

17. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year - 6,065
Between one and five years - 10,659
- 16,724

W POTTER & SONS (HOLDINGS) LIMITED (REGISTERED NUMBER: 00931475)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the year ended 31 March 2023

17. LEASING AGREEMENTS - continued

Group
Non-cancellable operating leases
2023 2022
£    £   
Within one year 13,192 36,369
Between one and five years 245,126 15,611
258,318 51,980

Company
Non-cancellable operating leases
2023 2022
£    £   
Within one year 13,191 22,978
Between one and five years 1,376 15,611
14,567 38,589

18. SECURED DEBTS

The following secured debts are included within creditors:

Group Company
2023 2022 2023 2022
£    £    £    £   
Bank loans 13,601 16,716 - -
Other loan 3,460,328 3,446,937 3,460,328 3,446,937
3,473,929 3,463,653 3,460,328 3,446,937

Hire purchase and finance leases are secured upon the assets to which the finance relates.

The other loan is secured by a first ranking legal charge is held over land and property known as Toby's Hill Farm, Woodsetts Farm, Bodway Poultry Farm, Arley Lane, Green End Farm and Unit 2 Leigh Road, Rugby. A fixed charge and floating charge are held, covering Leigh Road or any undertaking of the Company.
Unlimited personal guarantees have been given by the Company Directors.

19. PROVISIONS FOR LIABILITIES

Group Company
2023 2022 2023 2022
£    £    £    £   
Deferred tax 690,571 542,240 690,571 542,240

W POTTER & SONS (HOLDINGS) LIMITED (REGISTERED NUMBER: 00931475)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the year ended 31 March 2023

19. PROVISIONS FOR LIABILITIES - continued

Group
Deferred
tax
£   
Balance at 1 April 2022 542,240
Provided during year 148,331
Balance at 31 March 2023 690,571

Company
Deferred
tax
£   
Balance at 1 April 2022 542,240
Provided during year 148,331
Balance at 31 March 2023 690,571

Included in the deferred tax provision above is £142,632 relating to the revaluation of freehold properties and £547,939 relating to accelerated capital allowances.

20. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
10,000 Ordinary 0.01p 100 100
3,158 Ordinary A Shares 0.01p 32 32
132 132

All shares have equal voting rights. Each share in each class is entitled pari passu to dividend payments or any other distribution declared in that class.

21. RESERVES

Group
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 April 2022 1,351,663 1,394,112 2,745,775
Deficit for the year (605,687 ) (605,687 )
Revaluation of fixed assets - (34,231 ) (34,231 )
At 31 March 2023 745,976 1,359,881 2,105,857

W POTTER & SONS (HOLDINGS) LIMITED (REGISTERED NUMBER: 00931475)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the year ended 31 March 2023

21. RESERVES - continued

Company
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 April 2022 1,252,455 1,394,112 2,646,567
Deficit for the year (652,462 ) (652,462 )
Reserve transfer 34,231 (34,231 ) -
At 31 March 2023 634,224 1,359,881 1,994,105

Amounts taken to the revaluation reserve are subject to a deferred tax charge, as required under FRS102.

22. RELATED PARTY DISCLOSURES

Key management personnel of the entity or its parent (in the aggregate)
2023 2022
£    £   
Amount due from related party - 15,640
Amount due to related party 198,646 -

23. POST BALANCE SHEET EVENTS

The property at Leigh Road has been sold since the balance sheet date for a consideration of £2,700,000.