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Registered number: 08146893










Potter Church & Holmes Architects Limited








Unaudited

Financial statements

Information for filing with the registrar

For the Year Ended 31 July 2024

 
Potter Church & Holmes Architects Limited
 

Company Information


Directors
Mark Potter 
Ms Polly Church 




Registered number
08146893



Registered office
Worlds End Studios
132-134 Lots Road

London

SW10 0RJ




Accountants
Kreston Reeves LLP
Chartered Accountants

2nd Floor

168 Shoreditch High Street

London

E1 6RA





 
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 2022Our 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

 
Potter Church & Holmes Architects Limited
Registered number: 08146893

Balance sheet
As at 31 July 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
1,355
2,253

  
1,355
2,253

Current assets
  

Stocks
  
21,650
-

Debtors
  
30,964
73,812

Cash at bank and in hand
  
711
15,637

  
53,325
89,449

Creditors: amounts falling due within one year
 8 
(53,408)
(57,027)

Net current (liabilities)/assets
  
 
 
(83)
 
 
32,422

Total assets less current liabilities
  
1,272
34,675

Creditors: amounts falling due after more than one year
  
(14,747)
(24,873)

Provisions for liabilities
  
(338)
(459)

Net (liabilities)/assets
  
(13,813)
9,343


Capital and reserves
  

Called up share capital 
 12 
75
75

Profit and loss account
  
(13,888)
9,268

  
(13,813)
9,343


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.



Mark Potter
Ms Polly Church
Director
Director

Page 2

 
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

 
Potter Church & Holmes Architects Limited
 

Statement of changes in equity
For the Year Ended 31 July 2024


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 August 2022
75
34,582
34,657



Profit for the year
-
40,286
40,286

Dividends: Equity capital
-
(65,600)
(65,600)



At 1 August 2023
75
9,268
9,343



Profit for the year
-
35,644
35,644

Dividends: Equity capital
-
(58,800)
(58,800)


At 31 July 2024
75
(13,888)
(13,813)


The notes on pages 5 to 11 form part of these financial statements.

Page 4

 
Potter Church & Holmes Architects Limited
 

 
Notes to the financial statements
For the Year Ended 31 July 2024

1.


General information

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

 
2.1

Basis of preparation of financial statements

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:

  
2.2

Turnover

Turnover comprises revenue recognised by the company in respect of the services supplied during
the year, exclusive of Value Added Tax and trade discounts.

 
2.3

Going concern

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.

 
2.4

Tangible fixed assets

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:

Fixtures, fittings and equipments
-
20%
straight line

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

 
Potter Church & Holmes Architects Limited
 

 
Notes to the financial statements
For the Year Ended 31 July 2024

2.Accounting policies (continued)

 
2.5

Stocks

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.

 
2.6

Debtors

Short term debtors are measured at transaction price, less any impairment.

 
2.7

Cash and cash equivalents

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.

 
2.8

Creditors

Short term creditors are measured at the transaction price. 

 
2.9

Finance costs

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.

 
2.10

Dividends

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.

 
2.11

Operating leases

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

 
Potter Church & Holmes Architects Limited
 

 
Notes to the financial statements
For the Year Ended 31 July 2024

2.Accounting policies (continued)

 
2.12

Pensions

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.

 
2.13

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.14

Provisions for liabilities

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 7 (2023 - 7).


4.


Directors' remuneration

2024
2023
£
£

Directors' emoluments
61,610
46,747

Company contributions to defined contribution pension schemes
3,916
7,224

65,526
53,971


Page 7

 
Potter Church & Holmes Architects Limited
 

 
Notes to the financial statements
For the Year Ended 31 July 2024

5.


Tangible fixed assets





Fixtures, fittings and equipments

£



Cost or valuation


At 1 August 2023
38,418


Disposals
(21,341)



At 31 July 2024

17,077



Depreciation


At 1 August 2023
36,165


Charge for the year on owned assets
898


Disposals
(21,341)



At 31 July 2024

15,722



Net book value



At 31 July 2024
1,355



At 31 July 2023
2,253

Page 8

 
Potter Church & Holmes Architects Limited
 

 
Notes to the financial statements
For the Year Ended 31 July 2024

6.


Debtors

2024
2023
£
£

Due after more than one year

Other debtors
2,200
2,200


2024
2023
£
£

Due within one year

Trade debtors
14,913
51,679

Other debtors
8,791
11,423

Prepayments and accrued income
5,060
8,510

28,764
71,612



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
711
15,637



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
10,142
9,893

Trade creditors
1,287
3,182

Corporation tax
11,648
9,455

Other taxation and social security
12,518
23,001

Other creditors
12,437
6,313

Accruals and deferred income
5,376
5,183

53,408
57,027



9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Government loans
14,747
24,873


Page 9

 
Potter Church & Holmes Architects Limited
 

 
Notes to the financial statements
For the Year Ended 31 July 2024

10.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
10,142
9,893

Amounts falling due 1-2 years

Bank loans
10,398
10,142

Amounts falling due 2-5 years

Bank loans
4,349
14,731


24,889
34,766



11.


Deferred taxation




2024
2023


£

£






At beginning of year
(459)
(904)


Charged to profit or loss
121
445



At end of year
(338)
(459)

The deferred tax balance is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(338)
(459)

(338)
(459)

Comprising:

Liability
(338)
(459)

(338)
(459)


Page 10

 
Potter Church & Holmes Architects Limited
 

 
Notes to the financial statements
For the Year Ended 31 July 2024

12.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



75 (2023 - 75) Ordinary shares of £1 each
75
75


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


13.


Dividends

2024
2023
£
£


Dividends paid on ordinary shares
58,800
65,600


14.


Related party transactions

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).


15.


Controlling party

The company is controlled by the directors who jointly own 100% of the issued share capital in the
company.


Page 11