REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Trustees' Report and |
Unaudited Financial Statements |
for the Year Ended 30 June 2024 |
for |
Adopt A Potter Limited |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Trustees' Report and |
Unaudited Financial Statements |
for the Year Ended 30 June 2024 |
for |
Adopt A Potter Limited |
Adopt A Potter Limited |
Contents of the Financial Statements |
for the Year Ended 30 June 2024 |
Page |
Trustees' Report | 1 | to | 3 |
Independent Examiner's Report | 4 |
Statement of Financial Activities | 5 |
Balance Sheet | 6 | to | 7 |
Notes to the Financial Statements | 8 | to | 13 |
Adopt A Potter Limited (Registered number: 10579527) |
Trustees' Report |
for the Year Ended 30 June 2024 |
The Trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 June 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to all charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102 - effective 1 January 2015) |
Adopt a Potter Limited was established to take over from Adopt a Potter Charitable Trust. The two companies ran parallel from 1 July 2017. Adopt a Potter Charitable Trust was closed on 30 June 2019 and its assets merged into Adopt a Potter Limited on that day. |
OBJECTIVES AND ACTIVITIES |
Objectives and aims |
The objectives of Adopt a Potter Limited are as follows: |
(i) Advancing the education of student ceramicists at Clay College, Stoke-on Trent, by providing and assisting in the provision of facilities for ceramics education at that college. |
(ii) Providing support to enable ceramicists to take up training apprenticeships with experienced potters, thereby to furnish the apprentice ceramicists with practical experience and training. |
(iii) To develop the practical skills, creative direction and vision of the apprentice ceramicists through mentoring and direction from the experienced potters. |
(iv) Thereby fit the apprentice potters to be proactive as ceramicists and contribute to the continued growth and development of the ceramic art. |
(v) Develop the public appreciation of the ceramic arts through exposure to the work of the apprentice potters and through public courses to be held at Clay College, Stoke-on-Trent. |
STRATEGIC REPORT |
Achievement and performance |
Charitable activities |
The College ran very smoothly over the year. The new college manager started in in the beginning of July and worked for a year to see the current cohort of students through their final year. A study trip to Japan in late February and early March proved to be a huge success. Students stayed in the pottery town of Mashiko where they met with several renowned Japanese studio potters and explored their work and studios. This was followed by a few days in Tokyo where they visited museums and ceramics exhibitions. |
Students spent the summer term working toward their final projects and preparing for their graduation show. The high standard of the work produced is a testament to their hard work and individuality. |
Over the financial year there were two Adopt a a Potter apprentices. The one who began their tenure last year in April continued their year and another started in January. For three months two apprentices (with different host potters) were funded. |
Financial review |
Financial position |
Net income for the year showed a surplus of £673 (2023: £41,325). This represented income of £246,284 (2023: £226,668) and expenditure of £245,611 (2023: £185,343). Higher costs of gas and electricity as well as a return to being fully staffed all contributed to the greater level of underlying expenses as did the trip to Japan. |
At the end of the period the bursary account contained £127,980 (2023: £135,180). This is a decrease of just over £7,000 over the year. £35,200 was paid out in bursaries but this was largely offset by some very generous donations to the scheme. |
Adopt A Potter Limited (Registered number: 10579527) |
Trustees' Report |
for the Year Ended 30 June 2024 |
STRATEGIC REPORT |
Future plans |
The current cohort of students finished their diploma at the end of July and held their graduation show in both London and Stoke on Trent. A new intake of 14 student will begin the course in September. |
In addition, we have an exciting schedule of exhibitions planned for gallery over the year and have a new gallery manager who will curate them. |
We also have a new College manager starting in August. We are looking to expand our range of tutors for the diploma to offer greater variety to the students. |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
The Charity is controlled by its governing document, Memorandum and Articles of Association, and constitutes a limited company, limited by guarantee as defined by the Companies Act 2006. |
Recruitment and appointment of new trustees |
Trustees are chosen for the skills they bring to the Board. Three are potters who make their living from ceramics and they have extensive experience in teaching ceramics. The other Trustees bring specific business skills to the group, from law, finance, publishing and high-level corporate management. |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Registered office |
Trustees |
Independent Examiner |
Thompson Wright Limited |
Chartered Accountants |
Ebenezer House |
Ryecroft |
Newcastle under Lyme |
Staffordshire |
ST5 2BE |
Adopt A Potter Limited (Registered number: 10579527) |
Trustees' Report |
for the Year Ended 30 June 2024 |
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. |
Trustees' report, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on |
Independent Examiner's Report to the Trustees of |
Adopt A Potter Limited |
Independent examiner's report to the trustees of Adopt A Potter Limited ('the Company') |
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 June 2024. |
Responsibilities and basis of report |
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). |
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act. |
Independent examiner's statement |
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: |
1. | accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or |
2. | the accounts do not accord with those records; or |
3. | the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or |
4. | the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). |
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. |
R L Thompson BA (Hons) FCA |
Thompson Wright Limited |
Chartered Accountants |
Ebenezer House |
Ryecroft |
Newcastle under Lyme |
Staffordshire |
ST5 2BE |
20 January 2025 |
Adopt A Potter Limited |
Statement of Financial Activities |
for the Year Ended 30 June 2024 |
2024 | 2023 |
Unrestricted | Restricted | Total | Total |
fund | fund | funds | funds |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies | 2 |
Charitable activities | 5 |
( |
) |
Other trading activities | 3 |
Investment income | 4 |
Total | ( |
) |
EXPENDITURE ON |
Charitable activities |
Other trading activities |
Total |
NET INCOME/(EXPENDITURE) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 235,955 |
Adopt A Potter Limited (Registered number: 10579527) |
Balance Sheet |
30 June 2024 |
2024 | 2023 |
Unrestricted | Restricted | Total | Total |
fund | fund | funds | funds |
Notes | £ | £ | £ | £ |
CURRENT ASSETS |
Debtors | 9 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 10 | ( |
) | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 11 | ( |
) | ( |
) | ( |
) |
NET ASSETS |
FUNDS | 12 |
Unrestricted funds | 200,755 |
Restricted funds | 35,200 |
TOTAL FUNDS | 235,955 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024. |
The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006. |
The trustees acknowledge their responsibilities for |
(a) | ensuring that the charitable company keeps accounting records that 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 charitable company as at the end of each financial year and of its surplus or deficit 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 charitable company. |
Adopt A Potter Limited (Registered number: 10579527) |
Balance Sheet - continued |
30 June 2024 |
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. |
The financial statements were approved by the Board of Trustees and authorised for issue on |
Adopt A Potter Limited |
Notes to the Financial Statements |
for the Year Ended 30 June 2024 |
1. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. |
Income |
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. |
Sources of income are recognised and classified in the notes to the accounts. |
Expenditure |
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. |
Taxation |
The charity is exempt from corporation tax on its charitable and other related activities. |
Fund accounting |
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. |
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. |
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. |
Pension costs and other post-retirement benefits |
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. |
2. | DONATIONS AND LEGACIES |
2024 | 2023 |
£ | £ |
Donations |
Gift aid receipts from HMRC | 18,039 | - |
Adopt A Potter Limited |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
3. | OTHER TRADING ACTIVITIES |
2024 | 2023 |
£ | £ |
Gallery sales |
Other income | 200 | 200 |
Kiln hire | 413 | 570 |
4. | INVESTMENT INCOME |
2024 | 2023 |
£ | £ |
Deposit account interest |
5. | INCOME FROM CHARITABLE ACTIVITIES |
2024 | 2023 |
Activity | £ | £ |
Full time students | Education | 129,500 | 130,471 |
Evening classes | Education | 21,690 | 27,440 |
Masterclasses | Education | 28,739 | 25,631 |
6. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 30 June 2024 nor for the year ended 30 June 2023. |
Trustees' expenses |
The charity trustees were not paid or received any other benefits from employment. |
The charity issued reimbursements totalling £1,570 during the year to 2 of the 5 trustees. |
Travel | Accomodation |
£ | £ |
J. Seaton | 39 | 215 |
L. Hammond | 222 | 1,094 |
7. | STAFF COSTS |
2024 | 2023 |
£ | £ |
Wages and salaries |
Social security costs | ( |
) |
Other pension costs |
98,367 | 66,216 |
Adopt A Potter Limited |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
7. | STAFF COSTS - continued |
The average monthly number of employees during the year was as follows: |
2024 | 2023 |
Administration | 1 | 2 |
Charitable activities | 3 | 2 |
8. | 2023 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted | Restricted | Total |
fund | fund | funds |
£ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Charitable activities |
Other trading activities |
Investment income |
Total |
EXPENDITURE ON |
Charitable activities |
Other trading activities |
Total |
NET INCOME |
RECONCILIATION OF FUNDS |
Total funds brought forward | 194,630 | - |
TOTAL FUNDS CARRIED FORWARD | 200,755 | 35,200 | 235,955 |
Adopt A Potter Limited |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
9. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Prepayments |
10. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Social security and other taxes |
Accruals and deferred income |
11. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Deferred bursary income |
12. | MOVEMENT IN FUNDS |
Net |
movement | At |
At 1.7.23 | in funds | 30.6.24 |
£ | £ | £ |
Unrestricted funds |
General fund | 200,755 | 35,873 | 236,628 |
Restricted funds |
Bursary | 35,200 | (35,200 | ) | - |
TOTAL FUNDS | 673 | 236,628 |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 281,484 | (245,611 | ) | 35,873 |
Restricted funds |
Bursary | (35,200 | ) | - | (35,200 | ) |
TOTAL FUNDS | ( |
) | 673 |
Adopt A Potter Limited |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
12. | MOVEMENT IN FUNDS - continued |
Comparatives for movement in funds |
Net |
movement | At |
At 1.7.22 | in funds | 30.6.23 |
£ | £ | £ |
Unrestricted funds |
General fund | 194,630 | 6,125 | 200,755 |
Restricted funds |
Bursary | - | 35,200 | 35,200 |
TOTAL FUNDS | 194,630 | 41,325 | 235,955 |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 191,468 | (185,343 | ) | 6,125 |
Restricted funds |
Bursary | 35,200 | - | 35,200 |
TOTAL FUNDS | 226,668 | (185,343 | ) | 41,325 |
A current year 12 months and prior year 12 months combined position is as follows: |
Net |
movement | At |
At 1.7.22 | in funds | 30.6.24 |
£ | £ | £ |
Unrestricted funds |
General fund | 194,630 | 41,998 | 236,628 |
TOTAL FUNDS | 194,630 | 41,998 | 236,628 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 472,952 | (430,954 | ) | 41,998 |
TOTAL FUNDS | 472,952 | (430,954 | ) | 41,998 |
Adopt A Potter Limited |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
12. | MOVEMENT IN FUNDS - continued |
The bursary fund exists to provide financial assistance in paying full time college fees for those students who are in need. The revenue is recognised in the academic year of the student. Costs associated to the student are covered by the bursary up to, but not exceeding, the declared amount. |
The company holds deferred income in respect of students fees in future years. |
13. | RELATED PARTY DISCLOSURES |