1 July 2022 v2024.6.1 limited_company_frs_102_section_1a_v1_1_0 companies_houseSoftwarefalsetruetruetrueNo description of principal activitytruexbrli:purexbrli:sharesiso4217:GBP112971772022-07-012023-06-30112971772023-06-30112971772022-06-3011297177core:WithinOneYear2023-06-3011297177core:WithinOneYear2022-06-3011297177core:AfterOneYear2023-06-3011297177core:AfterOneYear2022-06-3011297177core:ShareCapital2023-06-3011297177core:ShareCapital2022-06-3011297177core:RetainedEarningsAccumulatedLosses2023-06-3011297177core:RetainedEarningsAccumulatedLosses2022-06-3011297177bus:Director12022-07-012023-06-3011297177bus:RegisteredOffice2022-07-012023-06-3011297177core:NetGoodwill2022-07-012023-06-3011297177core:Goodwill2022-07-012023-06-3011297177core:LandBuildings2022-07-012023-06-3011297177core:FurnitureFittingsToolsEquipment2022-07-012023-06-3011297177core:OfficeEquipment2022-07-012023-06-30112971772021-07-012022-06-3011297177core:NetGoodwill2023-06-3011297177core:NetGoodwill2022-07-0111297177core:NetGoodwill2022-06-3011297177core:LandBuildings2022-07-0111297177core:PlantMachinery2022-07-01112971772022-07-0111297177core:PlantMachinery2022-07-012023-06-3011297177core:LandBuildings2023-06-3011297177core:PlantMachinery2023-06-3011297177core:LandBuildings2022-06-3011297177core:PlantMachinery2022-06-301129717712022-07-012023-06-3011297177countries:EnglandWales2022-07-012023-06-3011297177bus:AuditExempt-NoAccountantsReport2022-07-012023-06-3011297177bus:PrivateLimitedCompanyLtd2022-07-012023-06-3011297177bus:SmallEntities2022-07-012023-06-3011297177bus:FullAccounts2022-07-012023-06-30
Company registration number:
11297177
Tpot Limited
Unaudited Filleted Financial Statements for the year ended
30 June 2023
Tpot Limited
Statement of Financial Position
30 June 2023
20232022
Note££
Fixed assets    
Intangible assets 5
16,666
 
33,333
 
Tangible assets 6
1,783,840
 
1,766,294
 
1,800,506
 
1,799,627
 
Current assets    
Stocks
22,548
 
15,289
 
Debtors 7
31,556
 
21,250
 
Cash at bank and in hand
137,008
 
144,792
 
191,112
 
181,331
 
Creditors: amounts falling due within one year 8
(2,696,302
)
(2,645,835
)
Net current liabilities
(2,505,190
)
(2,464,504
)
Total assets less current liabilities (704,684 ) (664,877 )
Creditors: amounts falling due after more than one year 9
(31,350
)
(62,010
)
Net liabilities
(736,034
)
(726,887
)
Capital and reserves    
Called up share capital
100
 
100
 
Profit and loss account
(736,134
)
(726,987
)
Shareholders deficit
(736,034
)
(726,887
)
For the year ending
30 June 2023
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
  • The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
  • The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
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 income statement has not been delivered.
These
financial statements
were approved by the board of directors and authorised for issue on
19 March 2024
, and are signed on behalf of the board by:
S Singh-Watson
Director
Company registration number:
11297177
Tpot Limited
Notes to the Financial Statements
Year ended
30 June 2023

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
Baddaford Barns
,
Baddaford Farm Yard
,
Ashburton, Newton Abbot
,
TQ13 7NF
, England.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Goodwill

Purchased goodwill arises on business acquisitions and represents the difference between the cost of acquisition and the fair values of the identifiable assets and liabilities acquired.
Goodwill is initially recorded at cost, and is subsequently stated at cost less any accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over the useful economic life of the asset. Where a reliable estimate of the useful life of goodwill cannot be made, the life is presumed not to exceed five years.

Intangible assets

Intangible assets are initially measured at cost and are subsequently measured at cost less any accumulated amortisation and accumulated impairment losses or at a revalued amount.
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Goodwill
Straight line over 3 years

Tangible assets

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Land and buildings
Straight line over 30 years (freehold improvements)
Fixtures, fittings and equipment
Straight line over 3-5 years
Office equipment
Straight line over 3 years

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the entity will comply with the conditions attaching to them and the grants will be received.
Government grants are recognised using the accrual model and the performance model.
Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset.
Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.

Defined contribution pension plan

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

4 Average number of employees

The average number of persons employed by the company during the year was
48
(2022:
46.00
).

5 Intangible assets

Goodwill
£
Cost  
At
1 July 2022
and
30 June 2023
50,000
 
Amortisation  
At
1 July 2022
16,667
 
Charge
16,667
 
At
30 June 2023
33,334
 
Carrying amount  
At
30 June 2023
16,666
 
At 30 June 2022
33,333
 

6 Tangible assets

Land and buildingsPlant and machinery etc.Total
£££
Cost      
At
1 July 2022
1,632,792
 
304,081
 
1,936,873
 
Additions
69,707
 
25,856
 
95,563
 
At
30 June 2023
1,702,499
 
329,937
 
2,032,436
 
Depreciation      
At
1 July 2022
24,524
 
146,055
 
170,579
 
Charge
14,984
 
63,033
 
78,017
 
At
30 June 2023
39,508
 
209,088
 
248,596
 
Carrying amount      
At
30 June 2023
1,662,991
 
120,849
 
1,783,840
 
At 30 June 2022
1,608,268
 
158,026
 
1,766,294
 
Included within the net book value of land and buildings above is £1,662,991 in respect of freehold land and buildings and improvements thereon (2022: £1,608,268).

7 Debtors

20232022
££
Trade debtors
2,672
  -  
Other debtors
28,884
 
21,250
 
31,556
 
21,250
 

8 Creditors: amounts falling due within one year

20232022
££
Trade creditors
59,149
 
67,890
 
Taxation and social security
98,863
 
74,917
 
Other creditors
2,538,290
 
2,503,028
 
2,696,302
 
2,645,835
 

9 Creditors: amounts falling due after more than one year

20232022
££
Other creditors
31,350
 
62,010
 
Included within other creditors, is a secured debt of £60,440 (2022: £91,995).