THE POTTHOUSE COLLECTIVE CIC

Company Registration Number:
14864811 (England and Wales)

Unaudited statutory accounts for the year ended 31 May 2024

Period of accounts

Start date: 12 May 2023

End date: 31 May 2024

THE POTTHOUSE COLLECTIVE CIC

Contents of the Financial Statements

for the Period Ended 31 May 2024

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

THE POTTHOUSE COLLECTIVE CIC

Directors' report period ended 31 May 2024

The directors present their report with the financial statements of the company for the period ended 31 May 2024

Additional information

Statement of Directors' Responsibilities The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations. Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing the financial statements the directors are required to: select suitable accounting policies and then apply them consistently; make judgments and accounting estimates that are reasonable and prudent; prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.



Directors

The directors shown below have held office during the whole of the period from
12 May 2023 to 31 May 2024

Miss Tanya McDonald
Mrs Zoe Cheale


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
7 February 2025

And signed on behalf of the board by:
Name: Miss Tanya McDonald
Status: Director

THE POTTHOUSE COLLECTIVE CIC

Profit And Loss Account

for the Period Ended 31 May 2024

13 months to 31 May 2024


£
Turnover: 55,870
Cost of sales: ( 12,004 )
Gross profit(or loss): 43,866
Administrative expenses: ( 27,198 )
Operating profit(or loss): 16,668
Interest receivable and similar income: 9
Profit(or loss) before tax: 16,677
Tax: ( 1,640 )
Profit(or loss) for the financial year: 15,037

THE POTTHOUSE COLLECTIVE CIC

Balance sheet

As at 31 May 2024

Notes 13 months to 31 May 2024


£
Fixed assets
Tangible assets: 3 8,047
Total fixed assets: 8,047
Current assets
Stocks: 4 2,500
Cash at bank and in hand: 37,035
Total current assets: 39,535
Creditors: amounts falling due within one year: 5 ( 32,445 )
Net current assets (liabilities): 7,090
Total assets less current liabilities: 15,137
Total net assets (liabilities): 15,137
Capital and reserves
Called up share capital: 100
Profit and loss account: 15,037
Total Shareholders' funds: 15,137

The notes form part of these financial statements

THE POTTHOUSE COLLECTIVE CIC

Balance sheet statements

For the year ending 31 May 2024 the company was entitled to exemption 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.

This report was approved by the board of directors on 7 February 2025
and signed on behalf of the board by:

Name: Miss Tanya McDonald
Status: Director

The notes form part of these financial statements

THE POTTHOUSE COLLECTIVE CIC

Notes to the Financial Statements

for the Period Ended 31 May 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances. Sale of goods Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods. Rendering of services Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

    Tangible fixed assets depreciation policy

    Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases: Fixtures & Fittings 25% straight line

    Other accounting policies

    Basis of Preparation of Financial Statements The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. Stocks and Work in Progress Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses. Taxation Income tax expense represents the sum of the tax currently payable and deferred tax. The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.

THE POTTHOUSE COLLECTIVE CIC

Notes to the Financial Statements

for the Period Ended 31 May 2024

  • 2. Employees

    13 months to 31 May 2024
    Average number of employees during the period 3

THE POTTHOUSE COLLECTIVE CIC

Notes to the Financial Statements

for the Period Ended 31 May 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
Additions 10,663 10,663
Disposals
Revaluations
Transfers
At 31 May 2024 10,663 10,663
Depreciation
Charge for year 2,616 2,616
On disposals
Other adjustments
At 31 May 2024 2,616 2,616
Net book value
At 31 May 2024 8,047 8,047

THE POTTHOUSE COLLECTIVE CIC

Notes to the Financial Statements

for the Period Ended 31 May 2024

4. Stocks

13 months to 31 May 2024
£
Stocks 2,500
Total 2,500

THE POTTHOUSE COLLECTIVE CIC

Notes to the Financial Statements

for the Period Ended 31 May 2024

5. Creditors: amounts falling due within one year note

13 months to 31 May 2024
£
Taxation and social security 1,640
Other creditors 30,805
Total 32,445

COMMUNITY INTEREST ANNUAL REPORT

THE POTTHOUSE COLLECTIVE CIC

Company Number: 14864811 (England and Wales)

Year Ending: 31 May 2024

Company activities and impact

The Potthouse Collective opened it’s doors for business in September 2023, in it’s first year of business (and it’s first financial year, 2023-2024) the Potthouse Collective has established a pottery studio and artist space which offers the following services to benefit it’s local community: - A pottery studio offering classes and courses to the locals of Gloucestershire and beyond. In addition to pottery being an excellent creative education it has also been proven to offer a natural improvement to the mental health and wellbeing of those who participate. The studio offers an average of 14-20 classes and courses per month for an average of 75-100 customers per month. - ‘Independent Pottery’ is also offered in the studio, allowing members of the local community to come and use the studio and it’s facilities for their personal ceramic practice and exploration. These ‘independent potter’ sessions, in addition to offering the usual benefits of pottery practice, also act as a social opportunity as the same groups of people meet every week and bond over a shared interest. The studio hosts an average of 45-55 independent pottery customers (all of whom live within Gloucestershire). - The Artist Space offers affordably priced studio spaces for local artists which can be rented and used for artistic practice and development. In 2023-24, 10 local artists made use of the spaces available. In addition to the creative community that allows them to thrive, being part of the space also allows for potential opportunities for exposure for their work, aiding in their career development (including, for example, the upcoming Cheltenham Open Studios event in June 2025). - The studio offers opportunities for large community engagement and fundraising (for example, in September 2024 where a Macmillan Cancer Research fundraiser and open day was held, raising over £500 for the charity). - The studio has provided full-time or part-time employment for 3 local residents.

Consultation with stakeholders

The stakeholders of the Potthouse Collective are the independent potters and resident artists who regularly make use of the studio, the class and course customers who visit less regularly and the wider Cheltenham community. For our more direct stakeholders, we maintain a regular and direct communication method through WhatsApp. - The Independent Potters: Have participated in two anonymous surveys in the period of 2023-2024. The surveys focus on the customer satisfaction of the space, the equipment and materials on offer. Additionally, it asks for feedback and ideas of ways of improving the space and/or new services, classes or courses that could be to the benefit of our customers. Independent potters are also encouraged to speak in person to staff where there may be any concerns. In December of 2023, voluntary Independent Potters also partook in an additional survey focusing on the mental health impact (and improvement of mood) that occurs over a session of pottery. - The Resident Artists (Artist Space Artists): Have also participated in surveys directly related to their space. Communication with this group is quick and responsive especially insofar as any concerns about the space they make use of but also with the sharing of opportunities for the group. In the period 2023-2024 the resident artists were most directly impacted by a leak in the studio; the resident artists were quickly informed, all their possessions protected and necessary work done to fix the issue promptly. The resident artists are also encouraged to visit the studio for group meetings regularly. - Class/Course Customers and the wider community: Harnessing social media allows us to cast a wider net to our local community to get a wider array of opinions about what services and pottery education they would like the studio to provide. The customers who visit the studio for one-off classes are encouraged to express any thoughts or ideas they may have and contact is possible through email and instagram/facebook after the class. All customers upon collection of their finished work are also encouraged to leave a review for the studio expressing their true opinions of their experiences in the space.

Directors' remuneration

No remuneration was received

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
7 February 2025

And signed on behalf of the board by:
Name: Tanya McDonald
Status: Director