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Company Registration No. 9211973 (England and Wales)
Chris Potter Associates Limited Unaudited accounts for the year ended 30 September 2023
Chris Potter Associates Limited Unaudited accounts Contents
Page
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Chris Potter Associates Limited Company Information for the year ended 30 September 2023
Directors
Chris Potter Lara Potter
Company Number
9211973 (England and Wales)
Registered Office
3 Heanton Street Braunton EX33 2JS United Kingdom
Accountants
Westerly Accountancy Ltd 24 Orchard Road Wrafton Braunton EX33 2DZ
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Chris Potter Associates Limited Statement of financial position as at 30 September 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
2,000 
4,000 
Tangible assets
81,066 
92,559 
Investments
1,030,341 
936,558 
1,113,407 
1,033,117 
Current assets
Debtors
1,152,460 
875,845 
Cash at bank and in hand
966,216 
821,752 
2,118,676 
1,697,597 
Creditors: amounts falling due within one year
(296,400)
(275,009)
Net current assets
1,822,276 
1,422,588 
Net assets
2,935,683 
2,455,705 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
2,935,583 
2,455,605 
Shareholders' funds
2,935,683 
2,455,705 
For the year ending 30 September 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 19 April 2024 and were signed on its behalf by
Chris Potter Director Company Registration No. 9211973
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Chris Potter Associates Limited Notes to the Accounts for the year ended 30 September 2023
1
Statutory information
Chris Potter Associates Limited is a private company, limited by shares, registered in England and Wales, registration number 9211973. The registered office is 3 Heanton Street, Braunton, EX33 2JS, United Kingdom.
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight basis over their estimated useful economic lives. Impairment of intangible fixed assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable. Goodwill is amortised to the profit and loss account over its estimated useful economic life of 10 years.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
Leasehold and freehold - 5% straight line
Plant & machinery
20% straight line
Computer equipment
20% straight line
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
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Chris Potter Associates Limited Notes to the Accounts for the year ended 30 September 2023
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 October 2022
20,000 
At 30 September 2023
20,000 
Amortisation
At 1 October 2022
16,000 
Charge for the year
2,000 
At 30 September 2023
18,000 
Net book value
At 30 September 2023
2,000 
At 30 September 2022
4,000 
5
Tangible fixed assets
Land & buildings 
Plant & machinery 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 October 2022
108,538 
20,193 
12,185 
16,368 
157,284 
Additions
- 
- 
- 
801 
801 
Disposals
- 
- 
(2,151)
- 
(2,151)
At 30 September 2023
108,538 
20,193 
10,034 
17,169 
155,934 
Depreciation
At 1 October 2022
32,352 
11,413 
10,182 
10,778 
64,725 
Charge for the year
5,664 
2,743 
1,493 
2,335 
12,235 
On disposals
- 
- 
(2,092)
- 
(2,092)
At 30 September 2023
38,016 
14,156 
9,583 
13,113 
74,868 
Net book value
At 30 September 2023
70,522 
6,037 
451 
4,056 
81,066 
At 30 September 2022
76,186 
8,780 
2,003 
5,590 
92,559 
6
Investments
Subsidiary undertakings 
Other investments 
Total 
£ 
£ 
£ 
Valuation at 1 October 2022
100 
936,458 
936,558 
Fair value adjustments
- 
93,883 
93,883 
Disposals
(100)
- 
(100)
Valuation at 30 September 2023
- 
1,030,341 
1,030,341 
The company invested £0 (2022: £450,000) during the period in listed securities and funds. The investments are carried at market value on the Balance Sheet with revaluation gains and losses taken to the profit and loss account. The company's 100% subsidiary, Chris Potter Associates Holdings Limited, was wound up during the period and struck off the companies register on 7 February 2023.
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Chris Potter Associates Limited Notes to the Accounts for the year ended 30 September 2023
7
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
422,378 
620,728 
Accrued income and prepayments
158,921 
147,244 
Other debtors
571,161 
107,873 
1,152,460 
875,845 
8
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
147,626 
154,637 
Trade creditors
310 
168 
Taxes and social security
136,123 
111,190 
Other creditors
3,869 
1,963 
Accruals
8,472 
7,051 
296,400 
275,009 
9
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
10
Loans to directors
At the balance sheet date the company was owed from directors balances totalling £534,754 (2022: £107,873). The loans are unsecured and repayable on demand. Interest on balances owing is charged at the HMRC official rate.
11
Controlling party
The ultimate controlling party is East Atlantic (Holdings) Limited, a company registered in England and Wales with Company number 14598172 with its registered office at 3-5 Heanton Street, Braunton EX33 2JS. The parent company became the ultimate controlling party via a share for share exchange on 2 May 2023, whereby the previous shareholders and directors of Chris Potter Associates Limited became the shareholders and directors of the parent company.
12
Average number of employees
During the year the average number of employees was 5 (2022: 5).
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