Registered number: 08146893
Potter Church & Holmes Architects Limited
Unaudited
Financial statements
Information for filing with the registrar
For the Year Ended 31 July 2024
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Potter Church & Holmes Architects Limited
Company Information
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168 Shoreditch High Street
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Potter Church & Holmes Architects Limited
Chartered accountants' report to the board of directors on the preparation of the unaudited statutory financial statements of Potter Church & Holmes Architects Limited for the Year Ended 31 July 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Potter Church & Holmes Architects Limited for the year ended 31 July 2024 which comprise the Balance sheet, the Statement of changes in equity and the related notes from the Company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.
This report is made solely to the Board of directors of Potter Church & Holmes Architects Limited, as a body, in accordance with the terms of our engagement letter dated 13 October 2022. Our work has been undertaken solely to prepare for your approval the financial statements of Potter Church & Holmes Architects Limited and state those matters that we have agreed to state to the Board of directors of Potter Church & Holmes Architects Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Potter Church & Holmes Architects Limited and its Board of directors, as a body, for our work or for this report.
It is your duty to ensure that Potter Church & Holmes Architects Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Potter Church & Holmes Architects Limited. You consider that Potter Church & Holmes Architects Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or review of the financial statements of Potter Church & Holmes Architects Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Kreston Reeves LLP
Chartered Accountants
London
10 March 2025
Page 1
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Potter Church & Holmes Architects Limited
Registered number: 08146893
Balance sheet
As at 31 July 2024
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Creditors: amounts falling due within one year
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Net current (liabilities)/assets
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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Provisions for liabilities
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The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 10 March 2025.
Page 2
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Potter Church & Holmes Architects Limited
Registered number: 08146893
Balance sheet (continued)
As at 31 July 2024
The notes on pages 5 to 11 form part of these financial statements.
Page 3
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Potter Church & Holmes Architects Limited
Statement of changes in equity
For the Year Ended 31 July 2024
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Dividends: Equity capital
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Dividends: Equity capital
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The notes on pages 5 to 11 form part of these financial statements.
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Page 4
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Potter Church & Holmes Architects Limited
Notes to the financial statements
For the Year Ended 31 July 2024
The company is registered as a private company limited by shares, incorporated and domiciled in England & Wales. The company's registered office is Worlds End Studios, 132-134 Lots Road, London, SW10 0RJ.
The Company's principal activity during the year was that of consulting Architects.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006.
The following principal accounting policies have been applied:
Turnover comprises revenue recognised by the company in respect of the services supplied during
the year, exclusive of Value Added Tax and trade discounts.
The directors have prepared these financial statements on the going concern basis. The directors have reviewed the company's position and the long term position and are satisfied that it is able to continue without any major issues and that there is a reasonable expectation that the company will continue as a going concern.
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
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Fixtures, fittings and equipments
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The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
Page 5
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Potter Church & Holmes Architects Limited
Notes to the financial statements
For the Year Ended 31 July 2024
2.Accounting policies (continued)
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.
At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.
Short term debtors are measured at transaction price, less any impairment.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Short term creditors are measured at the transaction price.
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.
Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.
Page 6
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Potter Church & Holmes Architects Limited
Notes to the financial statements
For the Year Ended 31 July 2024
2.Accounting policies (continued)
Defined contribution pension plan
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
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Provisions for liabilities
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Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
Increases in provisions are generally charged as an expense to profit or loss.
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The average monthly number of employees, including directors, during the year was 7 (2023 - 7).
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Company contributions to defined contribution pension schemes
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Page 7
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Potter Church & Holmes Architects Limited
Notes to the financial statements
For the Year Ended 31 July 2024
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Fixtures, fittings and equipments
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Charge for the year on owned assets
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Page 8
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Potter Church & Holmes Architects Limited
Notes to the financial statements
For the Year Ended 31 July 2024
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Due after more than one year
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Prepayments and accrued income
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Cash and cash equivalents
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Creditors: Amounts falling due within one year
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Other taxation and social security
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Accruals and deferred income
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Creditors: Amounts falling due after more than one year
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Page 9
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Potter Church & Holmes Architects Limited
Notes to the financial statements
For the Year Ended 31 July 2024
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Analysis of the maturity of loans is given below:
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Amounts falling due within one year
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Amounts falling due 1-2 years
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Amounts falling due 2-5 years
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Charged to profit or loss
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The deferred tax balance is made up as follows:
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Accelerated capital allowances
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Page 10
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Potter Church & Holmes Architects Limited
Notes to the financial statements
For the Year Ended 31 July 2024
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Allotted, called up and fully paid
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75 (2023 - 75) Ordinary shares of £1 each
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On the 10 May 2019 the 75 Ordinary Shares were restated as to:
25 'A' ordinary shares of £1 each
25 'B' ordinary shares of £1 each
25 'C' ordinary shares of £1 each
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Dividends paid on ordinary shares
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Related party transactions
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During the year the company paid dividends amounting to £58,800 (2023: £65,600) to the directors.
As at 31 July 2024 the company owed £6,170 (2023: £1,274) to Mark Potter, and was owed £7,000 by Polly Church (2023: £7,000).
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The company is controlled by the directors who jointly own 100% of the issued share capital in the
company.
Page 11
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