Silverfin false false 30/11/2023 01/12/2022 30/11/2023 Ms L C Attwood 08/11/2018 Mr T R Attwood 24/02/2020 Mr M A C Moncreiffe 12/03/2020 Mr R Nicholson 31/03/2020 Mr G Tingay 08/11/2018 01 August 2024 The principal activity of the Company during the financial year was the operation of a pottery workshop and the provision of pottery classes. 11668179 2023-11-30 11668179 bus:Director1 2023-11-30 11668179 bus:Director2 2023-11-30 11668179 bus:Director3 2023-11-30 11668179 bus:Director4 2023-11-30 11668179 bus:Director5 2023-11-30 11668179 2022-11-30 11668179 core:CurrentFinancialInstruments 2023-11-30 11668179 core:CurrentFinancialInstruments 2022-11-30 11668179 core:Non-currentFinancialInstruments 2023-11-30 11668179 core:Non-currentFinancialInstruments 2022-11-30 11668179 core:ShareCapital 2023-11-30 11668179 core:ShareCapital 2022-11-30 11668179 core:RetainedEarningsAccumulatedLosses 2023-11-30 11668179 core:RetainedEarningsAccumulatedLosses 2022-11-30 11668179 core:OtherResidualIntangibleAssets 2022-11-30 11668179 core:OtherResidualIntangibleAssets 2023-11-30 11668179 core:LeaseholdImprovements 2022-11-30 11668179 core:PlantMachinery 2022-11-30 11668179 core:FurnitureFittings 2022-11-30 11668179 core:ComputerEquipment 2022-11-30 11668179 core:LeaseholdImprovements 2023-11-30 11668179 core:PlantMachinery 2023-11-30 11668179 core:FurnitureFittings 2023-11-30 11668179 core:ComputerEquipment 2023-11-30 11668179 bus:OrdinaryShareClass1 2023-11-30 11668179 bus:OrdinaryShareClass2 2023-11-30 11668179 2022-12-01 2023-11-30 11668179 bus:FilletedAccounts 2022-12-01 2023-11-30 11668179 bus:SmallEntities 2022-12-01 2023-11-30 11668179 bus:AuditExemptWithAccountantsReport 2022-12-01 2023-11-30 11668179 bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 11668179 bus:Director1 2022-12-01 2023-11-30 11668179 bus:Director2 2022-12-01 2023-11-30 11668179 bus:Director3 2022-12-01 2023-11-30 11668179 bus:Director4 2022-12-01 2023-11-30 11668179 bus:Director5 2022-12-01 2023-11-30 11668179 core:OtherResidualIntangibleAssets core:BottomRangeValue 2022-12-01 2023-11-30 11668179 core:OtherResidualIntangibleAssets core:TopRangeValue 2022-12-01 2023-11-30 11668179 core:LeaseholdImprovements core:TopRangeValue 2022-12-01 2023-11-30 11668179 core:PlantMachinery core:TopRangeValue 2022-12-01 2023-11-30 11668179 core:FurnitureFittings core:TopRangeValue 2022-12-01 2023-11-30 11668179 core:ComputerEquipment core:TopRangeValue 2022-12-01 2023-11-30 11668179 2021-12-01 2022-11-30 11668179 core:OtherResidualIntangibleAssets 2022-12-01 2023-11-30 11668179 core:LeaseholdImprovements 2022-12-01 2023-11-30 11668179 core:PlantMachinery 2022-12-01 2023-11-30 11668179 core:FurnitureFittings 2022-12-01 2023-11-30 11668179 core:ComputerEquipment 2022-12-01 2023-11-30 11668179 core:CurrentFinancialInstruments 2022-12-01 2023-11-30 11668179 core:Non-currentFinancialInstruments 2022-12-01 2023-11-30 11668179 bus:OrdinaryShareClass1 2022-12-01 2023-11-30 11668179 bus:OrdinaryShareClass1 2021-12-01 2022-11-30 11668179 bus:OrdinaryShareClass2 2022-12-01 2023-11-30 11668179 bus:OrdinaryShareClass2 2021-12-01 2022-11-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 11668179 (England and Wales)

POTTERY ACADEMY LTD

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 NOVEMBER 2023
PAGES FOR FILING WITH THE REGISTRAR

POTTERY ACADEMY LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 NOVEMBER 2023

Contents

POTTERY ACADEMY LTD

BALANCE SHEET

AS AT 30 NOVEMBER 2023
POTTERY ACADEMY LTD

BALANCE SHEET (continued)

AS AT 30 NOVEMBER 2023
Note 2023 2022
£ £
Fixed assets
Intangible assets 3 1,057 2,420
Tangible assets 4 90,626 101,040
91,683 103,460
Current assets
Debtors 5 74,823 94,184
Cash at bank and in hand 6 353,488 187,043
428,311 281,227
Creditors: amounts falling due within one year 7 ( 316,951) ( 194,819)
Net current assets 111,360 86,408
Total assets less current liabilities 203,043 189,868
Creditors: amounts falling due after more than one year 8 ( 10,000) ( 10,000)
Net assets 193,043 179,868
Capital and reserves
Called-up share capital 9 440,001 440,001
Profit and loss account ( 246,958 ) ( 260,133 )
Total shareholders' funds 193,043 179,868

For the financial year ending 30 November 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Pottery Academy Ltd (registered number: 11668179) were approved and authorised for issue by the Board of Directors on 01 August 2024. They were signed on its behalf by:

Ms L C Attwood
Director
POTTERY ACADEMY LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 NOVEMBER 2023
POTTERY ACADEMY LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 NOVEMBER 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Pottery Academy Ltd (the company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is 29 Eccleston Place, London, SW1W 9NF, England, United Kingdom.

The financial statements have been prepared under the historical cost convention and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. The directors of the company will not seek repayment of their loan balances to the detriment of the company's ability to continue trading. The directors are therefore of the opinion that the financial statements should be prepared on the going concern basis for the foreseeable future.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Revenue from contracts for the provision of professional services is recognised by reference to the time apportionment lapsed and remaining on the specific membership length purchased.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Other intangible assets 5 - 6 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Leasehold improvements 5 years straight line
Plant and machinery 15 years straight line
Fixtures and fittings 5 years straight line
Computer equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Rentals under operating leases are charged on a straight-line basis over the lease term, being 4% of turnover for the period to 30 May 2023 and 5% of gross turnover for the period from 01 June 2023 to 30 November 2023. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

Financial instruments

Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs.

Basic financial liabilities
Basic financial liabilities, including creditors, are initially recognised at transaction price.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less.

Equity instruments
Equity instruments issued by the company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 6 6

3. Intangible assets

Other intangible assets Total
£ £
Cost
At 01 December 2022 7,070 7,070
At 30 November 2023 7,070 7,070
Accumulated amortisation
At 01 December 2022 4,650 4,650
Charge for the financial year 1,363 1,363
At 30 November 2023 6,013 6,013
Net book value
At 30 November 2023 1,057 1,057
At 30 November 2022 2,420 2,420

4. Tangible assets

Leasehold improve-
ments
Plant and machinery Fixtures and fittings Computer equipment Total
£ £ £ £ £
Cost
At 01 December 2022 162,194 61,911 17,147 8,618 249,870
Additions 0 22,460 4,850 3,431 30,741
At 30 November 2023 162,194 84,371 21,997 12,049 280,611
Accumulated depreciation
At 01 December 2022 110,732 20,519 9,336 8,243 148,830
Charge for the financial year 32,438 4,384 3,770 563 41,155
At 30 November 2023 143,170 24,903 13,106 8,806 189,985
Net book value
At 30 November 2023 19,024 59,468 8,891 3,243 90,626
At 30 November 2022 51,462 41,392 7,811 375 101,040

5. Debtors

2023 2022
£ £
Trade debtors 18,222 22,469
Other debtors 56,601 71,715
74,823 94,184

6. Cash and cash equivalents

2023 2022
£ £
Cash at bank and in hand 353,488 187,043

7. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 55,046 27,656
Other taxation and social security 51,400 27,441
Other creditors 210,505 139,722
316,951 194,819

There are no amounts included above in respect of which any security has been given by the small entity.

8. Creditors: amounts falling due after more than one year

2023 2022
£ £
Other creditors 10,000 10,000

There are no amounts included above in respect of which any security has been given by the small entity.

9. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
266,666 Ordinary Shares shares of £ 0.00000375 each 1.00 1.00
440,000 Ordinary 'A' Shares shares of £ 1.00 each 440,000.00 440,000.00
440,001.00 440,001.00

10. Financial commitments

Other financial commitments

Rent is payable by the company as a percentage of annual turnover and is calculated on an annual basis after the company submits a turnover certificate to the lessor. The agreement is in place to 20 May 2024. Rent is payable at a rate of 5% of gross turnover for the period to 20 May 2023 and 6% of gross turnover for the final period to 20 May 2024.

11. Related party transactions

Other related party transactions

2023 2022
£ £
10,000 10,000

The loan creditor is a shareholder of the company and as such the remaining balance meets definition 11. 13A (FRS 102) and is therefore carried at cost.