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Company No: 14732915 (England and Wales)

THE POTTERGATE CENTRE LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2025
Pages for filing with the registrar

THE POTTERGATE CENTRE LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2025

Contents

THE POTTERGATE CENTRE LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 March 2025
THE POTTERGATE CENTRE LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2025
Note 31.03.2025 31.03.2024
£ £
Fixed assets
Tangible assets 3 13,692 18,256
13,692 18,256
Current assets
Stocks 400 1,040
Debtors 4 24,956 25,672
Cash at bank and in hand 64,573 55,693
89,929 82,405
Creditors: amounts falling due within one year 5 ( 64,059) ( 82,477)
Net current assets/(liabilities) 25,870 (72)
Total assets less current liabilities 39,562 18,184
Provision for liabilities 6 ( 3,385) ( 4,564)
Net assets 36,177 13,620
Capital and reserves
Called-up share capital 300 300
Profit and loss account 35,877 13,320
Total shareholders' funds 36,177 13,620

For the financial year ending 31 March 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of The Pottergate Centre Limited (registered number: 14732915) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

Luc-Remy Aquarone
Director

31 July 2025

THE POTTERGATE CENTRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025
THE POTTERGATE CENTRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

The Pottergate Centre Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 1st Floor Prospect House, Rouen Road, Norwich, NR1 1RE, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Income Statement in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

Finance costs

Finance costs are charged to the Income Statement over the term of the debt using the effective interest method so 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.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery 25 % reducing balance
Vehicles 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

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.

2. Employees

Year ended
31.03.2025
Period from
15.03.2023 to
31.03.2024
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Plant and machinery Vehicles Total
£ £ £
Cost
At 01 April 2024 2,150 22,188 24,338
At 31 March 2025 2,150 22,188 24,338
Accumulated depreciation
At 01 April 2024 535 5,547 6,082
Charge for the financial year 404 4,160 4,564
At 31 March 2025 939 9,707 10,646
Net book value
At 31 March 2025 1,211 12,481 13,692
At 31 March 2024 1,615 16,641 18,256

4. Debtors

31.03.2025 31.03.2024
£ £
Trade debtors 4,161 8,093
Prepayments and accrued income 20,795 17,579
24,956 25,672

5. Creditors: amounts falling due within one year

31.03.2025 31.03.2024
£ £
Trade creditors 2,133 2,253
Amounts owed to directors 26,588 27,908
Accruals and deferred income 2,992 21,520
Taxation and social security 32,121 30,796
Other creditors 225 0
64,059 82,477

6. Deferred tax

31.03.2025 31.03.2024
£ £
At the beginning of financial year/period ( 4,564) 0
Credited/(charged) to the Income Statement 1,179 ( 4,564)
At the end of financial year/period ( 3,385) ( 4,564)

The deferred taxation balance is made up as follows:

31.03.2025 31.03.2024
£ £
Accelerated capital allowances ( 3,423) ( 4,564)
Other timing differences 38 0
( 3,385) ( 4,564)