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REGISTERED NUMBER: 05040867 (England and Wales)















REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 MARCH 2024 TO 31 DECEMBER 2024

FOR

ATKINS AND POTTS LIMITED

ATKINS AND POTTS LIMITED (REGISTERED NUMBER: 05040867)






CONTENTS OF THE FINANCIAL STATEMENTS
For The Period 1 March 2024 to 31 December 2024




Page

Company Information 1

Report of the Directors 2

Balance Sheet 3

Notes to the Financial Statements 5


ATKINS AND POTTS LIMITED

COMPANY INFORMATION
For The Period 1 March 2024 to 31 December 2024







DIRECTORS: Mrs N J Young
R C Young





SECRETARY: Mrs N J Young





REGISTERED OFFICE: Unit C Kennetside
Off Bone Lane
Newbury
Berkshire
RG14 5PX





REGISTERED NUMBER: 05040867 (England and Wales)





ACCOUNTANTS: Banks & Co Limited
Chartered Certified Accountants
1 Carnegie Road
Newbury
Berkshire
RG14 5DJ

ATKINS AND POTTS LIMITED (REGISTERED NUMBER: 05040867)

REPORT OF THE DIRECTORS
For The Period 1 March 2024 to 31 December 2024

The directors present their report with the financial statements of the company for the period 1 March 2024 to 31 December 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the period under review was that of food manufacturing and distribution.

REVIEW OF BUSINESS
We are pleased to report that our recovery from moving factory and inflationary pressures is well advanced.

In 2024 we completed our factory move and achieved BRC AA grade for food safety and quality.

By year-end 2024 we were running 4 lines and producing more than ever before.

To demonstrate that we have now returned to profit and growth, we are publishing 10 months trading results and changing our year end to 31 December 2024.

In the 10 months reflected in these results, turnover increased 10%; profit was achieved to demonstrate that the new site is viable and has significant potential growth; and we significantly reduced our site-move-related debt.

This is particularly pleasing because five of the 10 months reported on, we were still settling into the new site and scaling up production.

We have started producing for new own label manufacturing customers in recent months which will drive growth in 2025. In addition, we have more new customers production commencing in March 2025.

Our focus is on producing high quality ambient food that meets future food trends. This along with a new site which has the capacity for accelerated growth puts us in a strong position for the future.

The new facility showcases that we do things differently in the market and have multiple USPs that will secure our future and drive growth.

EVENTS SINCE THE END OF THE PERIOD
Information relating to events since the end of the period is given in the notes to the financial statements.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 March 2024 to the date of this report.

Mrs N J Young
R C Young

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





Mrs N J Young - Secretary


11 February 2025

ATKINS AND POTTS LIMITED (REGISTERED NUMBER: 05040867)

BALANCE SHEET
31 December 2024

2024 2024
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 782,242 862,147

CURRENT ASSETS
Stocks 1,051,371 955,638
Debtors 5 904,546 955,338
Cash at bank 2,486 2,419
1,958,403 1,913,395
CREDITORS
Amounts falling due within one year 6 2,267,074 2,602,364
NET CURRENT LIABILITIES (308,671 ) (688,969 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

473,571

173,178

CREDITORS
Amounts falling due after more than
one year

7

(1,053,647

)

(1,339,499

)

PROVISIONS FOR LIABILITIES (68,631 ) (62,825 )
NET LIABILITIES (648,707 ) (1,229,146 )

CAPITAL AND RESERVES
Called up share capital 9 452,000 452,000
Retained earnings (1,100,707 ) (1,681,146 )
SHAREHOLDERS' FUNDS (648,707 ) (1,229,146 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2024 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.

ATKINS AND POTTS LIMITED (REGISTERED NUMBER: 05040867)

BALANCE SHEET - continued
31 December 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 February 2025 and were signed on its behalf by:




Mrs N J Young - Director



R C Young - Director


ATKINS AND POTTS LIMITED (REGISTERED NUMBER: 05040867)

NOTES TO THE FINANCIAL STATEMENTS
For The Period 1 March 2024 to 31 December 2024

1. STATUTORY INFORMATION

Atkins and Potts Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 05040867 and its registered office address is Unit C Kennetside, Off Bone Lane, Newbury, Berkshire, RG14 5PX.

The presentation currency of the financial statements is the Pound Sterling (£) rounded to the nearest pound.

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.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Turnover
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Sale of goods
Turnover from the sale of finished goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on dispatch of the goods.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Short leasehold - 20% on cost and Straight line over 10 years
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase of raw materials and packaging, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.


ATKINS AND POTTS LIMITED (REGISTERED NUMBER: 05040867)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Period 1 March 2024 to 31 December 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 period 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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred. Income received from Research and Development tax credit applications is accounted for on a receipts basis.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Going concern
The company obtains it's day to day working capital from the bank facility, with long term funding being provided by third party institutions. In addition to this the directors have invested in the company and also support the working capital as required. The directors have confirmed that they will only seek repayment of the loan shown as due after more than one year, when the working capital position of the company allows.

On this basis the accounts have been prepared on the going concern basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 63 (2024 - 61 ) .

ATKINS AND POTTS LIMITED (REGISTERED NUMBER: 05040867)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Period 1 March 2024 to 31 December 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and Computer
leasehold machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 March 2024 782,150 1,188,086 21,928 47,853 2,040,017
Additions 20,962 20,160 490 - 41,612
At 31 December 2024 803,112 1,208,246 22,418 47,853 2,081,629
DEPRECIATION
At 1 March 2024 251,757 885,671 14,925 25,517 1,177,870
Charge for period 47,396 66,835 1,561 5,725 121,517
At 31 December 2024 299,153 952,506 16,486 31,242 1,299,387
NET BOOK VALUE
At 31 December 2024 503,959 255,740 5,932 16,611 782,242
At 29 February 2024 530,393 302,415 7,003 22,336 862,147

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Short Plant and Computer
leasehold machinery equipment Totals
£    £    £    £   
COST
At 1 March 2024 177,694 198,093 20,616 396,403
Transfer to ownership - (26,943 ) - (26,943 )
At 31 December 2024 177,694 171,150 20,616 369,460
DEPRECIATION
At 1 March 2024 2,962 65,077 5,154 73,193
Charge for period 14,807 25,343 4,295 44,445
Transfer to ownership - (15,576 ) - (15,576 )
At 31 December 2024 17,769 74,844 9,449 102,062
NET BOOK VALUE
At 31 December 2024 159,925 96,306 11,167 267,398
At 29 February 2024 174,732 133,016 15,462 323,210

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2024
£    £   
Trade debtors 614,173 593,650
Other debtors 95,814 59,473
VAT 104,940 195,345
Prepayments 89,619 106,870
904,546 955,338

ATKINS AND POTTS LIMITED (REGISTERED NUMBER: 05040867)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Period 1 March 2024 to 31 December 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2024
£    £   
Bank loans and overdrafts 533,992 462,790
Other loans 415,908 441,722
Hire purchase contracts 97,407 92,556
Trade creditors 569,055 963,786
Social security and other taxes 176,979 122,824
Other creditors 5,948 274,370
Directors' current accounts - 22,577
Accruals and deferred income 241,025 -
Accrued expenses 226,760 221,739
2,267,074 2,602,364

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2024
£    £   
Other loans - 1-2 years 213,861 273,628
Other loans - 2-5 years 453,087 569,955
Hire purchase contracts 121,615 198,640
Directors current account NY 132,542 148,638
Directors current account RY 132,542 148,638
1,053,647 1,339,499

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2024
£    £   
Commercial finance 533,992 462,790

Lloyds Bank Commercial Finance Ltd has registered a fixed and floating charge covering all the property or undertaking of the company.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2024
value: £    £   
452,000 Ordinary £1 452,000 452,000

10. PENSION COMMITMENTS

The company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date, included within other creditors, unpaid contributions of £5,918 (at 29.02.2024 - £20,586) were due to the fund.

11. OTHER FINANCIAL COMMITMENTS

At 31 December 2024, the company had total commitments under non-cancellable operating leases which are not included in the balance sheet of £1,105,663 (29.02.2024 £1,369,475).

ATKINS AND POTTS LIMITED (REGISTERED NUMBER: 05040867)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Period 1 March 2024 to 31 December 2024

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the period ended 31 December 2024 and the year ended 29 February 2024:

2024 2024
£    £   
Mrs N J Young
Balance outstanding at start of period 11,289 10,011
Amounts advanced - 1,278
Amounts repaid (11,289 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period - 11,289

R C Young
Balance outstanding at start of period 11,289 10,011
Amounts advanced - 1,278
Amounts repaid (11,289 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period - 11,289

13. POST BALANCE SHEET EVENTS

On 6th February 2025, after the year end, the Directors voted to convert part of their loan account in to share capital. This therefore has resulted in an increase in share capital of £110,000 and a reduction in the loan due to them of £110,000. The resulting share capital is now £562,000.