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REGISTERED NUMBER: 01189386 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

POTTERIES POWER TRANSMISSION LIMITED

POTTERIES POWER TRANSMISSION LIMITED (REGISTERED NUMBER: 01189386)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 October 2023










Page

Statement of financial position 1 to 2

Notes to the financial statements 3 to 7


POTTERIES POWER TRANSMISSION LIMITED (REGISTERED NUMBER: 01189386)

STATEMENT OF FINANCIAL POSITION
31 October 2023

31.10.23 31.10.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 162,647 170,175
Investments 5 1,258 1,282
163,905 171,457

CURRENT ASSETS
Stocks 86,123 85,746
Debtors 6 504,528 606,162
Cash at bank and in hand 52,304 77,185
642,955 769,093
CREDITORS
Amounts falling due within one year 7 (691,824 ) (790,973 )
NET CURRENT LIABILITIES (48,869 ) (21,880 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

115,036

149,577

CREDITORS
Amounts falling due after more than one
year

8

(26,304

)

(39,148

)

PROVISIONS FOR LIABILITIES - (139 )

ACCRUALS AND DEFERRED INCOME (1,884 ) (1,951 )
NET ASSETS 86,848 108,339

CAPITAL AND RESERVES
Called up share capital 5,000 5,000
Revaluation reserve 10 61,273 62,824
Retained earnings 20,575 40,515
86,848 108,339

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

POTTERIES POWER TRANSMISSION LIMITED (REGISTERED NUMBER: 01189386)

STATEMENT OF FINANCIAL POSITION - continued
31 October 2023


The 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 Statement of income and retained earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 July 2024 and were signed on its behalf by:





D R Hodgson - Director


POTTERIES POWER TRANSMISSION LIMITED (REGISTERED NUMBER: 01189386)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 October 2023


1. STATUTORY INFORMATION

Potteries Power Transmission Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 01189386

Registered office: C/o DPC Accountants
Stone House
55 Stone Road Business Park
Stoke on Trent
Staffordshire
ST4 6SR

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

The judgements that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as follows:

Estimated useful lives and residual values of fixed assets

As described in the notes to the financial statements, depreciation of tangible and intangible fixed assets has been based on estimated useful lives and residual values deemed appropriate by the directors. Estimated useful lives and residual values are reviewed annually and revised as appropriate. Revisions take into account estimated useful lives used by other companies operating in the sector and actual asset lives and residual values, as evidenced by disposals during the current and prior accounting periods.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold land and buildings - 2% on cost
Motor vehicles - 25% reducing balance
Computer equipment - 33% on cost

POTTERIES POWER TRANSMISSION LIMITED (REGISTERED NUMBER: 01189386)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 October 2023


2. ACCOUNTING POLICIES - continued

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

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

POTTERIES POWER TRANSMISSION LIMITED (REGISTERED NUMBER: 01189386)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 October 2023


2. ACCOUNTING POLICIES - continued

Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 7 ) .

4. TANGIBLE FIXED ASSETS
Freehold
land and Motor Computer
buildings vehicles equipment Totals
£    £    £    £   
Cost
At 1 November 2022 174,355 24,239 1,099 199,693
Additions - - 779 779
At 31 October 2023 174,355 24,239 1,878 200,472
Depreciation
At 1 November 2022 24,003 5,066 449 29,518
Charge for year 3,429 4,258 620 8,307
At 31 October 2023 27,432 9,324 1,069 37,825
Net book value
At 31 October 2023 146,923 14,915 809 162,647
At 31 October 2022 150,352 19,173 650 170,175

The freehold land and buildings, including the adjoining land, were valued on an open market basis on 19th September 2016 by Butters John Bee, a firm of independent chartered surveyors, in the opinion of the director's this is deemed to be a fair representation of the market value at 31 October 2023. The historical cost at 1 November 2022 was £124,080 and at 31 October 2023 was £124,080.

POTTERIES POWER TRANSMISSION LIMITED (REGISTERED NUMBER: 01189386)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 October 2023


5. FIXED ASSET INVESTMENTS
Other
investments
£   
Cost
At 1 November 2022 1,282
Impairments (24 )
At 31 October 2023 1,258
Net book value
At 31 October 2023 1,258
At 31 October 2022 1,282

Fixed asset investments are made up of 922 Standard Life shares at an original cost of £2,015.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade debtors 361,857 467,754
Other debtors 142,671 138,408
504,528 606,162

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Bank loans and overdrafts 9,089 11,888
Hire purchase contracts (see note 9) 2,701 4,446
Trade creditors 356,798 422,771
Amounts owed to group undertakings 2,482 6,662
Taxation and social security 73,876 59,097
Other creditors 246,878 286,109
691,824 790,973

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.23 31.10.22
£    £   
Bank loans 26,304 36,447
Hire purchase contracts (see note 9) - 2,701
26,304 39,148

POTTERIES POWER TRANSMISSION LIMITED (REGISTERED NUMBER: 01189386)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 October 2023


9. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

31.10.23 31.10.22
£    £   
Net obligations repayable:
Within one year 2,701 4,446
Between one and five years - 2,701
2,701 7,147

10. RESERVES
Revaluation
reserve
£   
At 1 November 2022 62,824
Revaluation (1,551 )

At 31 October 2023 61,273

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 October 2023 and 31 October 2022:

31.10.23 31.10.22
£    £   
D R Hodgson
Balance outstanding at start of year (134,056 ) (101,217 )
Amounts advanced 134,056 101,500
Amounts repaid (139,719 ) (134,339 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (139,719 ) (134,056 )

The advance is unsecured, repayable on demand and interest free.