Potter (Andover) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04704506 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2019

FOR

POTTER (ANDOVER) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

S J Potter

REGISTERED OFFICE:

Griffins Court

24-32 London Road

NEWBURY

Berkshire

RG14 1JX

REGISTERED NUMBER:

04704506 (England and Wales)

ACCOUNTANTS:

Wilkins Kennedy

Accountants

Griffins Court

24-32 London Road

NEWBURY

Berkshire

RG14 1JX

BANKERS:

NatWest Bank Plc

Audits Team

2nd Floor Drummond House

1 Redheughs Avenue

Edinburgh

EH12 9JN

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

53,217

59,215

53,217

59,215

CURRENT ASSETS

Stocks

53,764

48,390

Debtors

6

758,722

764,316

Cash at bank and in hand

444,373

347,723

1,256,859

1,160,429

CREDITORS

Amounts falling due within one year

7

137,788

195,889

NET CURRENT ASSETS

1,119,071

964,540

TOTAL ASSETS LESS CURRENT LIABILITIES

1,172,288

1,023,755

PROVISIONS FOR LIABILITIES

10,111

11,251

NET ASSETS

1,162,177

1,012,504

CAPITAL AND RESERVES

Called up share capital

8

60

60

Capital redemption reserve

40

40

Retained earnings

1,162,077

1,012,404

SHAREHOLDERS' FUNDS

1,162,177

1,012,504

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 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 director on 15 October 2019 and were signed by:

S J Potter - Director

1.	STATUTORY INFORMATION

Potter (Andover) 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 principal place of business is Picket Piece, Andover, Hampshire, SP11 6RU.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

The financial statements are prepared in sterling which is the functional currency of the company and rounded to the

nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies

have been consistently applied to all years presented unless otherwise stated.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that

affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues

and expenses during the period. However, the nature of estimation means that actual outcomes could differ from those

estimates. The following judgements (apart from those involving estimates) have had the most significant effect on amounts

recognised in the financial statements.

Revenue recognition

The key judgements made by management in respect of revenue is the point at which that revenue should be recognised.

Management consider the underlying contract terms and conclude upon the most appropriate point of the cycle at which

to recognise revenue based upon the these terms and in particular where the risks and rewards of ownership transfer.

Tangible fixed assets

Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The

actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. Residual

value assessment consider issues such as the remaining life of the asset and the projected disposal value.

Turnover

Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts.

Turnover relates to the sales within the UK market. The policies adopted for the recognition of turnover are as follows:

Sales of goods

Turnover is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the

amount of turnover can be measured reliable, it is probable that the economic benefits associated with the transaction will

flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliable. This

is usually on dispatch of the goods.

Rendering of services

When the outcome of a transaction can be estimated reliably, turnover from the rendering of services is recognised as the

service is performed.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of the business in 2003, has been fully amortised.

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

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.

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.

Impairments

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet

date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and

compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is

recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation

decrease.

Provisions

Provisions are recognised when the company has a legal or constructive obligation at the report date as a result of a past

event, it is probable that the company will be required to settle the obligation and the amount of the obligation can be

reliably estimated.

Provisions are recognised at the best estimate of the amount required to settle the obligation at the reporting date.

Short-term employee benefits

Short-term employee benefits are recognised as an expense in the period in which they are incurred.

Debtors and creditors receivable/payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction

price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2018 - 8 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 May 2018

and 30 April 2019

80,166

AMORTISATION

At 1 May 2018

and 30 April 2019

80,166

NET BOOK VALUE

At 30 April 2019

-

At 30 April 2018

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 May 2018

67,618

7,940

106,922

13,086

195,566

Additions

6,726

2,750

-

933

10,409

At 30 April 2019

74,344

10,690

106,922

14,019

205,975

DEPRECIATION

At 1 May 2018

42,097

7,541

73,910

12,803

136,351

Charge for year

7,578

384

8,253

192

16,407

At 30 April 2019

49,675

7,925

82,163

12,995

152,758

NET BOOK VALUE

At 30 April 2019

24,669

2,765

24,759

1,024

53,217

At 30 April 2018

25,521

399

33,012

283

59,215

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30/4/19

30/4/18

£

£

Trade debtors

72,812

68,438

Other debtors

685,910

695,878

758,722

764,316

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30/4/19

30/4/18

£

£

Trade creditors

87,593

157,215

Taxation and social security

41,756

31,299

Other creditors

8,439

7,375

137,788

195,889

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30/4/19

30/4/18

value:

£

£

60

Ordinary

£1

60

60

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 April 2019 and 30 April 2018:

30/4/19

30/4/18

£

£

S J Potter

Balance outstanding at start of year

24,335

(5,665

)

Amounts advanced

-

30,000

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

24,335

10.	RELATED PARTY DISCLOSURES

At the year end, the company owed key management personnel £665 (2018: Nil).

Amounts owed from entities of which key management personnel have control at the year end were £625,000 (2018:

£625,000).