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COMPANY REGISTRATION NUMBER: 04771511

GREAT POTENTIAL LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 July 2025

GREAT POTENTIAL LIMITED

FINANCIAL STATEMENTS

YEAR ENDED 31 JULY 2025

CONTENTS | PAGE

Officers and professional advisers | 1

Director's report | 2

Statement of income and retained earnings | 3

Statement of financial position | 4

Notes to the financial statements | 6

The following pages do not form part of the financial statements

Chartered accountants report to the director on the preparation of the unaudited statutory financial statements | 10

GREAT POTENTIAL LIMITED

OFFICERS AND PROFESSIONAL ADVISERS

Director | Mr J F Gallery

Company secretary | Mr J F Gallery

Registered office | 2 Lorraine Avenue
| Elvington
| York
| YO41 5BB

Accountants | Townends Accountants LLP
| Chartered Accountants
| Fulford Lodge
| 1 Heslington Lane
| Fulford
| York
| YO10 4HW

Bankers | The Royal Bank of Scotland
| 6 Nessgate
| York
| YO1 9FY

GREAT POTENTIAL LIMITED

DIRECTOR'S REPORT

YEAR ENDED 31 JULY 2025
The director presents his report and the unaudited financial statements of the company for the year ended 31 July 2025 .
PRINCIPAL ACTIVITIES
The principal activity of the company during the year was that of advisors to the hospitality industry.
DIRECTOR
The director who served the company during the year was as follows:

Mr J F Gallery |

SMALL COMPANY PROVISIONS
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 6 March 2026 and signed on behalf of the board by:

Mr J F Gallery |
Director |

Registered office:
2 Lorraine Avenue
Elvington
York
YO41 5BB

GREAT POTENTIAL LIMITED

STATEMENT OF INCOME AND RETAINED EARNINGS

YEAR ENDED 31 JULY 2025

| 2025 | 2024
Note | £ | £
TURNOVER | 26,442 | 20,708

Cost of sales | 3,750 | –
| -------- | --------
GROSS PROFIT | 22,692 | 20,708

Administrative expenses | 14,609 | 16,167
| -------- | --------
OPERATING PROFIT | 8,083 | 4,541

Other interest receivable and similar income | 3 | 30
|  | -------- | --------
PROFIT BEFORE TAXATION | 5 | 8,086 | 4,571

Tax on profit | 1,418 | 868
| ------- | -------
PROFIT FOR THE FINANCIAL YEAR AND TOTAL COMPREHENSIVE INCOME | 6,668 | 3,703
| ------- | -------

RETAINED LOSSES AT THE START OF THE YEAR | ( 5,040) | ( 8,743)
| ------- | -------
RETAINED EARNINGS/(LOSSES) AT THE END OF THE YEAR | 1,628 | ( 5,040)
| ------- | -------

All the activities of the company are from continuing operations.

GREAT POTENTIAL LIMITED

STATEMENT OF FINANCIAL POSITION

31 July 2025

| 2025 | 2024
Note | £ | £ | £

FIXED ASSETS

Tangible assets | 6 |  | 820 | 1,066

CURRENT ASSETS

Debtors | 7 | 8,470 |  | 8,172
Cash at bank and in hand | 3,031 |  | 2,482
| -------- |  | --------
| 11,501 |  | 10,654

CREDITORS: amounts falling due within one year | 8 | 10,582 |  | 16,494
| -------- |  | --------
NET CURRENT ASSETS/(LIABILITIES) |  | 919 | ( 5,840)
|  | ------- | -------
TOTAL ASSETS LESS CURRENT LIABILITIES |  | 1,739 | ( 4,774)

PROVISIONS

Taxation including deferred tax |  | 109 | 264
|  | ------- | -------
NET ASSETS/(LIABILITIES) |  | 1,630 | ( 5,038)
|  | ------- | -------

GREAT POTENTIAL LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

31 July 2025

| 2025 | 2024
Note | £ | £ | £

CAPITAL AND RESERVES

Called up share capital |  | 2 | 2
Profit and loss account |  | 1,628 | ( 5,040)
|  | ------- | -------
SHAREHOLDERS FUNDS |  | 1,630 | ( 5,038)
|  | ------- | -------

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
For the year ending 31 July 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 6 March 2026 , and are signed on behalf of the board by:

Mr J F Gallery |
Director |

Company registration number: 04771511

GREAT POTENTIAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 JULY 2025
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 2 Lorraine Avenue, Elvington, York, YO41 5BB.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
(a) Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
(b) Going concern
The company has net current liabilities and its financial position is dependent upon the support of its director. The director has indicated that he will continue to support the company for the foreseeable future. Consequently, the director considers it is appropriate to prepare accounts on a going concern basis.
(c) Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
(d) Current & deferred tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
(e) Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
(f) Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

| Fixtures & Fittings | - | 25% reducing balance

(g) Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
(h) Financial instruments
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 entity after deducting all of its financial liabilities.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2024: 1 ).
5. Profit before taxation
Profit before taxation is stated after charging:

| 2025 | 2024
| £ | £
Depreciation of tangible assets | 246 | 395
| ---- | ----

6. Tangible assets

| Fixtures and fittings | Total
| £ | £
Cost |  |
At 1 August 2024 and 31 July 2025 | 4,551 | 4,551
| ------- | -------
Depreciation |  |
At 1 August 2024 | 3,485 | 3,485
Charge for the year | 246 | 246
| ------- | -------
At 31 July 2025 | 3,731 | 3,731
| ------- | -------
Carrying amount |  |
At 31 July 2025 | 820 | 820
| ------- | -------
At 31 July 2024 | 1,066 | 1,066
| ------- | -------

7. Debtors

| 2025 | 2024
| £ | £
Trade debtors | 7,847 | 7,907
Other debtors | 623 | 265
| ------- | -------
| 8,470 | 8,172
| ------- | -------

8. Creditors: amounts falling due within one year

| 2025 | 2024
| £ | £
Trade creditors | 49 | 58
Accruals and deferred income | – | 200
Corporation tax | 1,568 | 604
Director's loan account | 8,506 | 15,169
Other creditors | 459 | 463
| -------- | --------
| 10,582 | 16,494
| -------- | --------

9. Related party transactions
During the year the director made available loans to the company. These loans were interest free and repayable on demand. At the year end the balance of these loans was £ 8,506 (2024 - £ 15,169 ).

GREAT POTENTIAL LIMITED

MANAGEMENT INFORMATION

YEAR ENDED 31 JULY 2025
The following pages do not form part of the financial statements.

GREAT POTENTIAL LIMITED

CHARTERED ACCOUNTANTS REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF GREAT POTENTIAL LIMITED

YEAR ENDED 31 JULY 2025
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Great Potential Limited for the year ended 31 July 2025, which comprise the statement of income and retained earnings, statement of financial position 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 www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the director of Great Potential Limited in accordance with the terms of our engagement letter dated 22 February 2019. Our work has been undertaken solely to prepare for your approval the financial statements of Great Potential Limited and state those matters that we have agreed to state to you in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Great Potential Limited and its director for our work or for this report.
It is your duty to ensure that Great Potential 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 Great Potential Limited. You consider that Great Potential Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of Great Potential 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.
Townends Accountants LLP Chartered Accountants
Fulford Lodge 1 Heslington Lane Fulford York YO10 4HW
6 March 2026