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REGISTERED NUMBER: 02354827 (England and Wales)


















Audited Financial Statements

for the Year Ended 31st December 2024

for

Potterycrafts Limited

Potterycrafts Limited (Registered number: 02354827)






Contents of the Financial Statements
for the Year Ended 31st December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Potterycrafts Limited

Company Information
for the Year Ended 31st December 2024







DIRECTORS: Mr C M P Guerin
Harry Developpement SAS





REGISTERED OFFICE: Campbell Road
Stoke on Trent
Staffordshire
ST4 4ET





REGISTERED NUMBER: 02354827 (England and Wales)





AUDITORS: Rice & Co Limited
Chartered Accountants
Statutory Auditors
14a Market Place
Uttoxeter
Staffordshire
ST14 8HP

Potterycrafts Limited (Registered number: 02354827)

Balance Sheet
31st December 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 39,191 47,071
39,191 47,071

CURRENT ASSETS
Stocks 892,695 1,002,812
Debtors 7 205,447 195,454
Cash at bank and in hand 141,535 53,650
1,239,677 1,251,916
CREDITORS
Amounts falling due within one year 8 1,524,718 1,061,541
NET CURRENT (LIABILITIES)/ASSETS (285,041 ) 190,375
TOTAL ASSETS LESS CURRENT
LIABILITIES

(245,850

)

237,446

CREDITORS
Amounts falling due after more than one
year

9

6,244

16,844
NET (LIABILITIES)/ASSETS (252,094 ) 220,602

CAPITAL AND RESERVES
Called up share capital 600,101 600,101
Retained earnings (852,195 ) (379,499 )
SHAREHOLDERS' FUNDS (252,094 ) 220,602

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 6th March 2025 and were signed on its behalf by:



Mr C M P Guerin - Director


Potterycrafts Limited (Registered number: 02354827)

Notes to the Financial Statements
for the Year Ended 31st December 2024

1. STATUTORY INFORMATION

Potterycrafts Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Going concern
The financial statements show that the company has incurred net losses of £472,696 and £524,769 during the current and previous financial years and at 31st December 2024, the company’s current liabilities exceeded its total assets by £252,094. During 2024 the company commenced a restructuring process and forecasts prepared for the period ending 31st March 2026 indicate that the Company will return to profitability and have sufficient liquidity to meet it's working capital requirements for a period of at least 12 months from the date of signing these financial statements. This is dependent on the continuing financial support of other companies in the group, which those companies have confirmed will indeed continue for the foreseeable future.

The directors of the company have reviewed the overall position and outlook and are of the opinion that on the basis of the forecasts prepared and actions taken, they are satisfied that the going concern basis is appropriate.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point when the goods have been despatched or delivered to the customer.

Goodwill
Goodwill, being the amounts paid in connection with the acquisition of businesses in 2008, 2011, 2012 and 2013 has been amortised evenly over their estimated useful life of ten years.

Potterycrafts Limited (Registered number: 02354827)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2024

3. ACCOUNTING POLICIES - continued

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.
Improvements to property - over remaining term of lease
Plant and machinery - Straight line over 4 years
Fixtures and fittings - Straight line over 2 - 4 years
Computer equipment - Straight line over 2 - 4 years

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year 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 year 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.

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.

Potterycrafts Limited (Registered number: 02354827)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2024

3. ACCOUNTING POLICIES - continued

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2023 - 31 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st January 2024
and 31st December 2024 206,899
AMORTISATION
At 1st January 2024
and 31st December 2024 206,899
NET BOOK VALUE
At 31st December 2024 -
At 31st December 2023 -

Potterycrafts Limited (Registered number: 02354827)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2024

6. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1st January 2024 53,882 36,854 59,525 221,070 371,331
Additions - 8,349 2,275 7,670 18,294
At 31st December 2024 53,882 45,203 61,800 228,740 389,625
DEPRECIATION
At 1st January 2024 53,882 33,471 58,312 178,595 324,260
Charge for year - 2,015 1,178 22,981 26,174
At 31st December 2024 53,882 35,486 59,490 201,576 350,434
NET BOOK VALUE
At 31st December 2024 - 9,717 2,310 27,164 39,191
At 31st December 2023 - 3,383 1,213 42,475 47,071

Fixed assets, included in the above, which are held under hire purchase contracts and finance leases are as follows:
Plant and
machinery
£   
COST
Additions 8,349
At 31st December 2024 8,349
DEPRECIATION
Charge for year 348
At 31st December 2024 348
NET BOOK VALUE
At 31st December 2024 8,001

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 165,918 133,644
Amounts owed by group undertakings - 20,280
Other debtors 39,529 41,530
205,447 195,454

Potterycrafts Limited (Registered number: 02354827)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts and finance leases (see note 10)
18,310

12,804
Trade creditors 365,029 504,840
Amounts owed to group undertakings 924,862 190,877
Taxation and social security 97,447 132,269
Other creditors 119,070 220,751
1,524,718 1,061,541

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Hire purchase contracts and finance leases (see note 10)
6,244

16,844

10. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase
contracts
Finance leases
2024 2023 2024 2023
£    £    £    £   
Gross obligations repayable:
Within one year 4,512 - 14,235 12,804
Between one and five years 3,760 - 2,609 16,844
8,272 - 16,844 29,648

Finance charges repayable:
Within one year 437 - - -
Between one and five years 125 - - -
562 - - -

Net obligations repayable:
Within one year 4,075 - 14,235 12,804
Between one and five years 3,635 - 2,609 16,844
7,710 - 16,844 29,648

Potterycrafts Limited (Registered number: 02354827)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2024

10. LEASING AGREEMENTS - continued

Non-cancellable operating leases
2024 2023
£    £   
Within one year 49,435 108,229
Between one and five years 15,455 32,760
64,890 140,989

11. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 7,710 -

Assets held under hire purchase contracts are secured over the asset to which they relate.

12. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Matthew Gibbs FCA (Senior Statutory Auditor)
for and on behalf of Rice & Co Limited

The audit report contains the following material uncertainty related to going concern:

We draw attention to Note 3 in the financial statements, which shows that the company has incurred net losses of £472,696 and £524,769 during the current and previous financial years and at 31st December 2024, the company’s current liabilities exceeded its total assets by £252,094. As stated in Note 3, these events or conditions indicate that a material uncertainty exists that may cast significant doubt on the company’s ability to continue as a going concern. Our opinion is not modified in respect of this matter.

In auditing the financial statements, we have concluded that the directors’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

13. PARENT AND ULTIMATE PARENT COMPANY

During the current and previous financial year the company's parent and ultimate parent undertaking is Harry Developpement SAS, a company registered in France.

Consolidated financial statements are prepared for the group controlled by Harry Developpement SAS and that company's registered address is 53 Rue De La Filature, ZI Du Provet, 87350 Panazol, France.