R F Potts Limited - Accounts to registrar (filleted) - small 17.3

R F POTTS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2017

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

55,153

80,608

Tangible assets

5

8,960

9,956

64,113

90,564

CURRENT ASSETS

Stocks

6

48,701

51,193

Debtors

7

11,007

11,286

Cash at bank and in hand

44,774

60,565

104,482

123,044

CREDITORS

Amounts falling due within one year

8

73,736

111,555

NET CURRENT ASSETS

30,746

11,489

TOTAL ASSETS LESS CURRENT LIABILITIES

94,859

102,053

CREDITORS

Amounts falling due after more than one year

9

81,009

79,999

NET ASSETS

13,850

22,054

CAPITAL AND RESERVES

Called up share capital

11

200

200

Retained earnings

12

13,650

21,854

SHAREHOLDERS' FUNDS

13,850

22,054

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 15 February 2018 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A

The policies applied under the entity's previous accounting framework are not materially different to FRS 102

and have not impacted on equity or profit and loss.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2016 - 6 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 October 2016

and 30 September 2017

127,276

AMORTISATION

At 1 October 2016

46,668

Amortisation for year

25,455

At 30 September 2017

72,123

NET BOOK VALUE

At 30 September 2017

55,153

At 30 September 2016

80,608

5.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 October 2016

and 30 September 2017

10,860

DEPRECIATION

At 1 October 2016

904

Charge for year

996

At 30 September 2017

1,900

NET BOOK VALUE

At 30 September 2017

8,960

At 30 September 2016

9,956

6.

STOCKS

2017

2016

£

£

Stocks

48,701

51,193

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

3,373

3,643

Prepayments and accrued income

7,634

7,643

11,007

11,286

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts (see note 10)

-

47

Trade creditors

17,445

30,487

Tax

13,030

14,748

VAT

10,958

10,068

Other creditors

-

15,000

Directors' current accounts

30,195

39,205

Accrued expenses

2,108

2,000

73,736

111,555

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Other creditors

81,009

79,999

10.

LOANS

An analysis of the maturity of loans is given below:

2017

2016

£

£

Amounts falling due within one year or on demand:

Bank overdrafts

-

47

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

100

Ordinary A

£1

100

100

100

Ordinary B

£1

100

100

200

200

12.

RESERVES

Retained

earnings

£

At 1 October 2016

21,854

Profit for the year

40,129

Dividends

(48,333

)

At 30 September 2017

13,650