Registration number:
Pots Holdings Limited
for the Year Ended 31 October 2023
Pots Holdings Limited
Contents
Company Information |
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Accountants' Report |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Pots Holdings Limited
Company Information
Directors |
Nicholas William Smith Rupert John Boissier Sophie Louise Beardmore-Gray |
Registered office |
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Accountants |
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Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Pots Holdings Limited
for the Year Ended 31 October 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Pots Holdings Limited for the year ended 31 October 2023 as set out on pages 3 to 10 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.
This report is made solely to the Board of Directors of Pots Holdings Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Pots Holdings Limited and state those matters that we have agreed to state to the Board of Directors of Pots Holdings Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Pots Holdings Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Pots Holdings Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Pots Holdings Limited. You consider that Pots Holdings Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Pots Holdings Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Otterbourne
Winchester
Hampshire
SO21 2DZ
Pots Holdings Limited
(Registration number: 6556503)
Balance Sheet as at 31 October 2023
Note |
2023 |
2022 |
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Fixed assets |
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Intangible assets |
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Tangible assets |
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Investments |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Net liabilities |
( |
( |
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Capital and reserves |
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Called up share capital |
300 |
300 |
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Retained earnings |
(1,301,679) |
(949,124) |
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Shareholders' deficit |
(1,301,379) |
(948,824) |
Pots Holdings Limited
(Registration number: 6556503)
Balance Sheet as at 31 October 2023
For the financial year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Directors' responsibilities:
• |
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• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
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Pots Holdings Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023
General information |
The company is a private company limited by share capital, incorporated in England & Wales.
The address of its registered office is:
The principal place of business is:
The Flower Pots Inn
Brandy Mount
Cheriton
Alresford
SO24 0QQ
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The presentation currency of the financial statements is the Pound Sterling (£).
Group accounts not prepared
Going concern
As at the balance sheet date there were net current liabilities and net liabilities. This is due to major renovations taking place at the premises which have been funded by long term loans. The company will continue to be supported by the directors' for the forseeable future and due to this, they consider that the accounts should be prepared on a going concern basis.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax, and other sales taxes.
Pots Holdings Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Fixtures and fittings |
10% straight line |
Plant and machinery |
4 years at cost |
Motor vehicle |
4 years at cost |
Buildings |
50 years at cost |
Goodwill
Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.
Intangible assets
Separately acquired trademarks and licences are shown at historical cost.
Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.
Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
Asset class |
Amortisation method and rate |
Goodwill |
10% straight line |
Trademarks and patents |
10% straight line |
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Pots Holdings Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Intangible assets |
Goodwill |
Trademarks, patents and licenses |
Contractual customer relationships |
Total |
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Cost or valuation |
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At 1 November 2022 |
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At 31 October 2023 |
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Amortisation |
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At 1 November 2022 |
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- |
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Amortisation charge |
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- |
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At 31 October 2023 |
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- |
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Carrying amount |
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At 31 October 2023 |
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At 31 October 2022 |
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Pots Holdings Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023
Tangible assets |
Land and buildings |
Furniture, fittings and equipment |
Motor vehicles |
Total |
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Cost or valuation |
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At 1 November 2022 |
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Additions |
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- |
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At 31 October 2023 |
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Depreciation |
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At 1 November 2022 |
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Charge for the year |
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At 31 October 2023 |
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Carrying amount |
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At 31 October 2023 |
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At 31 October 2022 |
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Included within the net book value of land and buildings above is £1,944,351 (2022 - £1,908,244) in respect of freehold land and buildings.
Investments |
2023 |
2022 |
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Investments in subsidiaries |
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Subsidiaries |
£ |
Cost or valuation |
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At 1 November 2022 |
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Carrying amount |
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At 31 October 2023 |
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At 31 October 2022 |
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Pots Holdings Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023
Debtors |
Current |
Note |
2023 |
2022 |
Amounts owed by related parties |
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Other debtors |
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- |
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Details of non-current trade and other debtors
£174,185 (2022 -£159,072) of amounts owed by group undertakings is classified as non current.
Creditors |
Creditors: amounts falling due within one year
Note |
2023 |
2022 |
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Due within one year |
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Loans and borrowings |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Creditors: amounts falling due after more than one year
Note |
2023 |
2022 |
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Due after one year |
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Loans and borrowings |
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Amounts owed to group undertakings |
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2,896,390 |
2,848,771 |
Other loans relate to the funds provided by the directors to the Company for capital asset and working capital purposes and are repayable after 5 years, not by instalments. Interest is charged at 7.54% per annum on a non secured basis.
Amounts due to other group companies are repayable after 5 years, not by instalments and are unsecured.
Pots Holdings Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023
Share capital |
Allotted, called up and fully paid shares
2023 |
2022 |
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No. |
£ |
No. |
£ |
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300 |
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300 |
Loans and borrowings |
2023 |
2022 |
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Non-current loans and borrowings |
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Other borrowings |
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2023 |
2022 |
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Current loans and borrowings |
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Bank overdrafts |
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