REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH OCTOBER 2024 |
FOR |
POTS AND PITHOI LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH OCTOBER 2024 |
FOR |
POTS AND PITHOI LIMITED |
POTS AND PITHOI LIMITED (REGISTERED NUMBER: 05555112) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH OCTOBER 2024 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 3 |
POTS AND PITHOI LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30TH OCTOBER 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Ridgeland House |
15 Carfax |
Horsham |
West Sussex |
RH12 1DY |
POTS AND PITHOI LIMITED (REGISTERED NUMBER: 05555112) |
STATEMENT OF FINANCIAL POSITION |
30TH OCTOBER 2024 |
2024 | 2023 |
Notes | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 3 |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Revaluation reserve |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
The financial statements were approved by the Board of Directors and authorised for issue on |
POTS AND PITHOI LIMITED (REGISTERED NUMBER: 05555112) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH OCTOBER 2024 |
1. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Sale of goods |
Turnover from the sale of 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 in respect of the transaction can be measured reliably. This is usually on dispatch of the goods. |
Goodwill |
Goodwill arose on the acquisition of an unincorporated business and was amortised over its useful economic life. |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost |
less any accumulated amortisation and any accumulated impairment losses. |
Computer software is being amortised on a reducing balance at 25% annually. |
Tangible fixed assets |
Freehold property | - |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
Computer equipment | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Hire purchase and leasing commitments |
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. |
2. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
POTS AND PITHOI LIMITED (REGISTERED NUMBER: 05555112) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH OCTOBER 2024 |
3. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
Goodwill | assets | Totals |
£ | £ | £ |
COST |
At 31st October 2023 |
Additions |
At 30th October 2024 |
AMORTISATION |
At 31st October 2023 |
Charge for year |
At 30th October 2024 |
NET BOOK VALUE |
At 30th October 2024 |
At 30th October 2023 |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | Plant and | and |
property | machinery | fittings |
£ | £ | £ |
COST OR VALUATION |
At 31st October 2023 |
Additions |
Disposals | ( |
) |
At 30th October 2024 |
DEPRECIATION |
At 31st October 2023 |
Charge for year | ( |
) |
Eliminated on disposal | ( |
) |
At 30th October 2024 |
NET BOOK VALUE |
At 30th October 2024 |
At 30th October 2023 |
POTS AND PITHOI LIMITED (REGISTERED NUMBER: 05555112) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH OCTOBER 2024 |
4. | TANGIBLE FIXED ASSETS - continued |
Motor | Computer |
vehicles | equipment | Totals |
£ | £ | £ |
COST OR VALUATION |
At 31st October 2023 |
Additions |
Disposals | ( |
) | ( |
) |
At 30th October 2024 |
DEPRECIATION |
At 31st October 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 30th October 2024 |
NET BOOK VALUE |
At 30th October 2024 |
At 30th October 2023 |
Cost or valuation at 30th October 2024 is represented by: |
Fixtures |
Freehold | Plant and | and |
property | machinery | fittings |
£ | £ | £ |
Valuation in 2016 | 270,082 | - | - |
Valuation in 2021 | 65,000 | - | - |
Cost | 489,933 | 48,437 | 97,243 |
825,015 | 48,437 | 97,243 |
Motor | Computer |
vehicles | equipment | Totals |
£ | £ | £ |
Valuation in 2016 | - | - | 270,082 |
Valuation in 2021 | - | - | 65,000 |
Cost | 56,317 | 8,480 | 700,410 |
56,317 | 8,480 | 1,035,492 |
If land and buildings had not been revalued they would have been included at the following historical cost: |
2024 | 2023 |
£ | £ |
Cost | 489,933 | 489,933 |
Aggregate depreciation | 69,984 | 60,185 |
Value of land in freehold land and buildings | 419,948 | 429,747 |
Land and buildings were valued on an open market basis on 31st October 2021 by an independent valuer . |
POTS AND PITHOI LIMITED (REGISTERED NUMBER: 05555112) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH OCTOBER 2024 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
Prepayments and accrued income |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Tax |
Social security and other taxes |
Other creditors |
Directors' current accounts | 155 | 284 |
Accrued expenses |
7. | CAPITAL COMMITMENTS |
2024 | 2023 |
£ | £ |
Contracted but not provided for in the |
financial statements |
8. | RELATED PARTY TRANSACTIONS |
At the year end the company owed £11,655 (2023 - £12,543) to a related party. This loan is interest free and repayable on demand. |
9. | ULTIMATE CONTROLLING PARTY |
The company is a wholly owned subsidiary of Pots and Pithoi Holdings Limited. The Holding company is not wholly controlled by one individual. |