Company registration number 09892579 (England and Wales)
POTTERS RENEWABLE ENERGY LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
PAGES FOR FILING WITH REGISTRAR
POTTERS RENEWABLE ENERGY LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
POTTERS RENEWABLE ENERGY LIMITED
BALANCE SHEET
AS AT
30 APRIL 2024
30 April 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
385,077
-
0
Current assets
Debtors
4
77,519
10,000
Cash at bank and in hand
4,445
-
0
81,964
10,000
Creditors: amounts falling due within one year
5
(462,336)
-
0
Net current (liabilities)/assets
(380,372)
10,000
Total assets less current liabilities
4,705
10,000
Provisions for liabilities
(96,269)
-
0
Net (liabilities)/assets
(91,564)
10,000
Capital and reserves
Called up share capital
10,000
10,000
Profit and loss reserves
(101,564)
-
0
Total equity
(91,564)
10,000

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 23 January 2025 and are signed on its behalf by:
Mr J E Potter
Director
Company registration number 09892579 (England and Wales)
POTTERS RENEWABLE ENERGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
- 2 -
1
Accounting policies
Company information

Potters Renewable Energy Limited is a private company limited by shares incorporated in England and Wales. The registered office is Potter House, Henfaes Lane, Welshpool, Powys, SY21 7BE.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:

 

 

The financial statements of the company are consolidated in the financial statements of Potter's Waste Management Limited. These consolidated financial statements are available from its registered office, Potter House, Welshpool, SY21 7BE.

1.2
Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
20 years straight line

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.

POTTERS RENEWABLE ENERGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 3 -
1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible 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). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
-
0
-
0
POTTERS RENEWABLE ENERGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 4 -
3
Tangible fixed assets
Plant and equipment
£
Cost
At 1 May 2023
-
0
Additions
385,077
At 30 April 2024
385,077
Depreciation and impairment
At 1 May 2023 and 30 April 2024
-
0
Carrying amount
At 30 April 2024
385,077
At 30 April 2023
-
0
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
10,000
10,000
Other debtors
67,519
-
0
77,519
10,000
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
289,741
-
0
Amounts owed to group undertakings
172,595
-
0
462,336
-
0

Included within borrowings are bank loans from HSBC Equipment Finance (UK) Limited. The loan is secured by way of legal charge and composite company unlimited multilateral guarantee against all assets of the entity.

6
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

POTTERS RENEWABLE ENERGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
6
Audit report information
(Continued)
- 5 -
Opinion

In our opinion the financial statements:

Senior Statutory Auditor:
Timothy Mitchell BSc FCA
Statutory Auditor:
Xeinadin Audit Limited
Date of audit report:
23 January 2025
7
Capital commitments

Amounts contracted for but not provided in the financial statements:

2024
2023
£
£
Acquisition of tangible fixed assets
528,225
-
8
Related party transactions
2024
2023
£
£
Services and goods purchased
100,632
-
Amount due from related parties
3,376
-
Amount due to related parties
165,971
-

During the year Potters Renewable Energy Limited leased land from Sundorne Products (Llanidloes) Limited free of charge.

9
Parent company

The company is a 100% subsidiary of Potter's Waste Management Limited, a company registered in England and Wales which is wholly owned by Mr J Potter. The registered office is Potter House, Henfaes Lane, Welshpool, Powys, Wales, SY21 7BE. The smallest and largest group of which Potters Renewable Energy Limited is a member is headed by Potter's Waste Management Limited. A copy of the parent's consolidated accounts can be obtained from Companies House, Crown Way, Cardiff, CF14 3UZ.

 

The ultimate controlling party of Potter's Waste Management Limited is Mr J Potter by virtue of his 100% shareholding.

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