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
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
Chris Potter Associates Limited
Statement of financial position
as at 30 September 2023
Intangible assets
2,000
4,000
Tangible assets
81,066
92,559
Investments
1,030,341
936,558
Cash at bank and in hand
966,216
821,752
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
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
Chris Potter Associates Limited
Notes to the Accounts
for the year ended 30 September 2023
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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 (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
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.
Chris Potter Associates Limited
Notes to the Accounts
for the year ended 30 September 2023
4
Intangible fixed assets
Goodwill
At 30 September 2023
20,000
At 30 September 2023
18,000
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
Disposals
-
-
(2,151)
-
(2,151)
At 30 September 2023
108,538
20,193
10,034
17,169
155,934
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
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
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.
Chris Potter Associates Limited
Notes to the Accounts
for the year ended 30 September 2023
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
8
Creditors: amounts falling due within one year
2023
2022
Taxes and social security
136,123
111,190
Other creditors
3,869
1,963
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
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.
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).