R F Potts Limited - Accounts to registrar (filleted) - small 18.2

R F POTTS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2021

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J Cleveley

J Potts

REGISTERED OFFICE:

66-68 Babington Lane

Derby

United Kingdom

DE1 1SX

REGISTERED NUMBER:

09329559 (England and Wales)

ACCOUNTANTS:

Sibbalds Limited

Chartered Accountants and Business Advisers

Oakhurst House

57 Ashbourne Road

Derby

Derbyshire

DE22 3FS

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

7,933

7,517

7,933

7,517

CURRENT ASSETS

Stocks

37,102

39,854

Debtors

6

7,280

6,314

Cash at bank and in hand

37,031

53,529

81,413

99,697

CREDITORS

Amounts falling due within one year

7

86,479

102,156

NET CURRENT LIABILITIES

(5,066

)

(2,459

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,867

5,058

PROVISIONS FOR LIABILITIES

8

1,500

1,400

NET ASSETS

1,367

3,658

CAPITAL AND RESERVES

Called up share capital

9

200

200

Retained earnings

1,167

3,458

SHAREHOLDERS' FUNDS

1,367

3,658

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2021 in accordance with Section 476 of the Companies Act 2006.

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 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 January 2022 and were signed on its behalf by:

J Cleveley - Director

1.	STATUTORY INFORMATION

R F Potts 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.	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.

Turnover

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

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of five years.

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.

Fixtures and fittings

-

10% on reducing balance

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.

Going concern

Since March 2020, the spread of COVID-19 has severely impacted many local economies around the globe. In many countries, businesses are being forced to cease or limit operations for long or indefinite periods of time. Measures taken to contain the spread of the virus including, travel bans, quarantines, social distancing and closure of non-essential services have triggered significant disruptions to businesses worldwide, resulting in an economic slowdown. Governments and banks have responded with monetary and fiscal interventions to stabilise the current economic conditions.

The duration and impact of the COVID-19 pandemic currently remains unclear. It is not possible to reliably estimate the duration and severity of these consequences, as well as their impact the financial position and results of the company for future periods, however the directors consider that the financial support from the government and from future events are sufficient to enable the company to continue for the foreseeable future and that there is no significant doubt about the company's ability to continue as a going concern.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2020 - 6 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 October 2020

and 30 September 2021

127,276

AMORTISATION

At 1 October 2020

and 30 September 2021

127,276

NET BOOK VALUE

At 30 September 2021

-

At 30 September 2020

-

5.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 October 2020

11,853

Additions

1,242

At 30 September 2021

13,095

DEPRECIATION

At 1 October 2020

4,336

Charge for year

826

At 30 September 2021

5,162

NET BOOK VALUE

At 30 September 2021

7,933

At 30 September 2020

7,517

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

1,785

628

Other debtors

5,495

5,686

7,280

6,314

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade creditors

12,869

13,346

Taxation and social security

14,664

18,181

Other creditors

58,946

70,629

86,479

102,156

8.	PROVISIONS FOR LIABILITIES

2021

2020

£

£

Deferred tax

1,500

1,400

Deferred

tax

£

Balance at 1 October 2020

1,400

Provided during year

100

Accelerated capital allowances

Balance at 30 September 2021

1,500

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2021

2020

value:

£

£

100

Ordinary A

£1

100

100

100

Ordinary B

£1

100

100

200

200