REGISTERED COMPANY NUMBER: 10579527 (England and Wales)
REGISTERED CHARITY NUMBER: 1173174
Trustees' Report and
Unaudited Financial Statements
for the Year Ended 30 June 2023
for
Adopt A Potter Limited
Thompson Wright Limited
Chartered Accountants
Ebenezer House
Ryecroft
Newcastle under Lyme
Staffordshire
ST5 2BE
Adopt A Potter Limited
Contents of the Financial Statements for the Year Ended 30 June 2023
|
|
Page |
|
Trustees' Report |
1 |
to |
3 |
Independent Examiner's Report |
|
4 |
|
Statement of Financial Activities |
|
5 |
|
Balance Sheet |
6 |
to |
7 |
Notes to the Financial Statements |
8 |
to |
13 |
Detailed Statement of Financial Activities |
14 |
to |
15 |
Adopt A Potter Limited
Trustees' Report
for the Year Ended 30 June 2023
TheTrustees,whoarealsodirectorsofthecharityforthepurposesoftheCompaniesAct2006,presenttheirreportwiththe financial
statementsof the charityfor the year ended 30 June 2023.The trusteeshave adoptedthe provisionsof Accountingand Reportingby Charities:
StatementofRecommendedPracticeapplicabletoallcharitiespreparingtheiraccountsinaccordancewiththeFinancialReporting Standard
applicable in the UK and Republic of Ireland (FRS 102 - effective 1 January 2015)
AdoptaPotterLimitedwasestablishedtotakeoverfromAdoptaPotterCharitableTrust.Thetwocompaniesranparallelfrom1July 2017.
Adopt a Potter Charitable Trust was closed on 30 June 2019 and its assets merged into Adopt a Potter Limited on that day.
OBJECTIVES AND ACTIVITIES
Objectives and aims
The objectives of Adopt a Potter Limited are as follows:
(i)AdvancingtheeducationofstudentceramicistsatClayCollege,Stoke-onTrent,byprovidingandassistingintheprovisionoffacilities for
ceramics education at that college.
(ii)Providingsupporttoenableceramiciststotakeuptrainingapprenticeshipswithexperiencedpotters,therebytofurnishthe apprentice
ceramicists with practical experience and training.
(iii)Todevelopthepracticalskills,creativedirectionandvisionoftheapprenticeceramiciststhroughmentoringanddirectionfrom the
experienced potters.
(iv)Therebyfittheapprenticepotterstobeproactiveasceramicistsandcontributetothecontinuedgrowthanddevelopmentofthe ceramic
art.
(v) Develop the public appreciationof the ceramicarts through exposure to the work of the apprenticepotters and through public courses to be
held at Clay College, Stoke-on-Trent.
STRATEGIC REPORT
Achievement and performance
Charitable activities
Thethirdcohortof14ClayCollegestudentsstartedtheirdiplomacourseinSeptember'22.Theysettledinquicklyandhavemade good
progressduringtheirfirstyear.Afteralmosta yearwithoutfulltimestudentsfollowingthe COVIDdisruption,it wasgoodtohavethe College
being used full time again.
SevenofthecurrentintakeofDiplomastudentsreceivedbursaryfundingtovaryingdegrees.Itisimportanttothetrusteesthatlackof funds
should not prevent any student from completingthe course.This cohort have had their ability to build up savings, prior to the course, impacted
by the COVID lockdown and so demand for financial support was higher than in previous years.
Twomajorstaffresignationsinearly2023,fromtheCollegemanagerandtheGalleryAssistant,didcausesomedisruptiontodayto day
activitiesbutthethreeparttimestaff,thetrusteesandsometemporarygalleryassistantsallmanagedtokeepthingsrunningforthe interim
period until the new College Manager started in July '23.
ThecurrentAdoptaPotterfundedapprenticebegantheirtenureinApril.Thiswasabitlaterthananticipatedbutitishopedthat the
programme with return to normal with the next one beginning in early '24.
Financial review
Financial position
Netincomefortheyearshowedasurplusof£41,325(2022:lossof£15,699).Thisrepresentedincomeof£226,668(2022:£180,346) and
expenditureof£185,343(2022:£196,045).Thereturnoffulltimestudents'feesmorethanoffsetthefallinmasterclassincomefrom the
previousyear.Gallerysaleswere£27,084against£59,079.Thehigherfigurefor2022wasbecauseofsalesfromtheDiplomashowfrom the
previous cohort of students which took place in December '21. Wages were slightly lower following the departure of 2 permanent staff.
Attheendoftheperiodthebursaryaccountcontained£135,180(2022:£100,380).Thisisanincreaseofalmost£35,000overtheyear.
£35,200 was paid out in bursaries to students but this was more than compensated for by some very generous donations to the scheme.
The Charity's balance sheet remains strong. It is still the ambition of the Charity to buy a building to house the College.
Page 1
Adopt A Potter Limited
Trustees' Report
for the Year Ended 30 June 2023
STRATEGIC REPORT
Future plans
The current cohortof students have one more year to completetheir diploma.They have made excellentprogress in their first year.Their final
year willincludea business moduleas well as anotheryear of studioceramics.This should give them the necessaryskillsto establishtheir own
ceramicsbusinessupongraduation.Inaddition,wearehopingtofitinaweeklongstudytriptoJapantogivetheminsightintotheworld of
Japanese ceramics.This will be funded in part by the students and by the sale of 'CollegeRange',standard ware made by the students as part of
their weekly practice to improve their repetition throwing.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
TheCharityiscontrolledbyitsgoverningdocument,MemorandumandArticlesofAssociation,andconstitutesalimitedcompany,limited by
guarantee as defined by the Companies Act 2006.
Recruitment and appointment of new trustees
TrusteesarechosenfortheskillstheybringtotheBoard.Threearepotterswhomaketheirlivingfromceramicsandtheyhave extensive
experienceinteachingceramics.TheotherTrusteesbringspecificbusinessskillstothegroup,fromlaw,finance,publishingand high-level
corporate management.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
10579527 (England and Wales)
Registered Charity number
1173174
Registered office
Maze Hill Pottery
The Old Ticket Office
Woodlands Park Road
London
SE10 9XE
Trustees
Lisa Hammond Director
Joanna Seaton Director
Lesley Cartmell Director
Darren Lee Ellis Director
Karen Ann Bunting Director (resigned 1.12.23)
Elaine Jill Wells Director
Independent Examiner
Thompson Wright Limited
Chartered Accountants
Ebenezer House
Ryecroft
Newcastle under Lyme
Staffordshire
ST5 2BE
Page 2
Adopt A Potter Limited
Trustees' Report for the Year Ended 30 June 2023
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Trustees'report,incorporatinga strategicreport,approvedby orderof the boardof trustees,as the companydirectors,on 19 March2024 and
signed on the board's behalf by:
Lisa Hammond - Trustee
Page 3
Independent Examiner's Report to the Trustees of
Adopt A Potter Limited
Independent examiner's report to the trustees of Adopt A Potter Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 June 2023.
Responsibilities and basis of report
As the charity'strusteesof the Company(and also its directorsfor the purposes of companylaw)you are responsiblefor the preparationof the
accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
HavingsatisfiedmyselfthattheaccountsoftheCompanyarenotrequiredtobeauditedunderPart16ofthe2006Actandareeligible for
independentexamination,I reportin respectof my examinationof your charity'saccountsas carriedout under Section145 of the Charities Act
2011 ('the 2011 Act').In carrying out my examinationI have followedthe Directionsgiven by the Charity Commissionunder Section 145(5) (b) of
the 2011 Act.
Independent examiner's statement
I have completedmy examination.I confirmthat no mattershave cometo my attentionin connectionwith the examinationgiving me cause to
believe:
1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connectionwith the examinationto which attentionshould be drawn in this report
in order to enable a proper understanding of the accounts to be reached.
R L Thompson BA (Hons) FCA
Thompson Wright Limited
Chartered Accountants
Ebenezer House
Ryecroft
Newcastle under Lyme
Staffordshire
ST5 2BE
19 March 2024
Page 4
Adopt A Potter Limited
Statement of Financial Activities for the Year Ended 30 June 2023
Unrestricted
Restricted
fund
fund
Notes
£
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
13,223
-
Charitable activities
5
Education
148,342
35,200
Other trading activities
3
27,854
-
Investment income
4
2,049
-
Total
191,468
35,200
EXPENDITURE ON
Charitable activities
General
121,938
-
Education
26,617
-
Other trading activities
36,788
-
Total
185,343
-
NET INCOME/(EXPENDITURE)
6,125
35,200
RECONCILIATION OF FUNDS
Total funds brought forward
194,630
-
TOTAL FUNDS CARRIED FORWARD
200,755
35,200 |
2023
Total
funds
£
13,223
183,542
27,854
2,049
226,668
121,938
26,617
36,788
185,343
41,325
194,630
235,955 |
2022
Total
funds
£
11,904
106,648
61,490
304 |
|
|
180,346 |
|
|
52,093
101,120
42,832 |
|
|
196,045 |
|
|
(15,699)
210,329 |
|
|
194,630 |
The notes form part of these financial statements
Page 5
Adopt A Potter Limited
Balance Sheet
30 June 2023
Unrestricted
Restricted
fund
fund
Notes
£
£
CURRENT ASSETS
Debtors
9
1,599
-
Cash at bank and in hand
207,117
170,380
208,716
170,380
CREDITORS
Amounts falling due within one year
10
(7,961)
-
NET CURRENT ASSETS
200,755
170,380
TOTAL ASSETS LESS CURRENT LIABILITIES
200,755
170,380
CREDITORS
Amounts falling due after more than one year
11
-
(135,180)
NET ASSETS
200,755
35,200
FUNDS
12
Unrestricted funds
Restricted funds
TOTAL FUNDS |
2023
Total
funds
£
1,599
377,497
379,096
(7,961)
371,135
371,135
(135,180)
235,955
200,755
35,200
235,955 |
2022
Total
funds
£
2,380
306,816 |
|
|
309,196
(48,186) |
|
|
261,010 |
|
|
261,010
(66,380) |
|
|
194,630 |
|
|
194,630
- |
|
|
194,630 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.
The membershave not required the companyto obtainan audit of its financialstatementsfor the year ended 30 June 2023 in accordance with
Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
(a)ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparingfinancialstatementswhichgiveatrueandfairviewofthestateofaffairsofthecharitablecompanyasattheendof each
financialyearandofitssurplusordeficitforeachfinancialyearinaccordancewiththerequirementsofSections394and395 and
whichotherwisecomplywiththe requirementsofthe CompaniesAct2006relatingto financialstatements,so far as applicableto the
charitable company.
The notes form part of these financial statements
continued...
Page 6
Adopt A Potter Limited
Balance Sheet - continued
30 June 2023
Thesefinancialstatementshavebeenpreparedinaccordancewiththeprovisionsapplicabletocharitablecompaniessubjecttothe small
companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 19 March 2024 and were signed on its behalf by:
Lisa Hammond - Trustee
Lesley Cartmell - Trustee
The notes form part of these financial statements
Page 7
Adopt A Potter Limited
Notes to the Financial Statements
for the Year Ended 30 June 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financialstatementsofthe charitablecompany,whichis a publicbenefitentityunder FRS 102,havebeen preparedin accordance
with the CharitiesSORP(FRS 102)'Accountingand Reportingby Charities:Statementof RecommendedPracticeapplicableto charities
preparingtheiraccountsinaccordancewiththeFinancialReportingStandardapplicableintheUKandRepublicofIreland(FRS 102)
(effective1January2019)',FinancialReportingStandard102'TheFinancialReportingStandardapplicableintheUKandRepublic of
Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Thefinancialstatementsarepreparedin sterling,whichis the functionalcurrencyofthe charity.Monetaryamountsin these financial
statements are rounded to the nearest £.
Income
AllincomeisrecognisedintheStatementofFinancialActivitiesoncethecharityhasentitlementtothefunds,itisprobablethat the
income will be received and the amount can be measured reliably.
Sources of income are recognised and classified in the notes to the accounts.
Expenditure
Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructiveobligationcommittingthecharityto that
expenditure,it is probablethat a transferof economicbenefitswillbe requiredin settlementand the amountof the obligationcan be
measuredreliably.Expenditureisaccountedforonanaccrualsbasisandhasbeenclassifiedunderheadingsthataggregateall cost
relatedtothecategory.Wherecostscannotbedirectlyattributedtoparticularheadingstheyhavebeenallocatedtoactivitieson a
basis consistent with the use of resources.
Taxation
The charity is exempt from corporation tax on its charitable and other related activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restrictedfunds can only be used for particularrestrictedpurposeswithinthe objectsof the charity.Restrictionsarise when specified
by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Pension costs and other post-retirement benefits
Thecharitablecompanyoperatesa definedcontributionpensionscheme.Contributionspayabletothe charitablecompany's pension
scheme are charged to the Statement of Financial Activities in the period to which they relate.
2.
DONATIONS AND LEGACIES
DONATIONS AND LEGACIES |
|
|
|
2023 |
2022 |
|
£ |
£ |
Donations |
13,223 |
11,904 |
continued...
Page 8
Adopt A Potter Limited
Notes to the Financial Statements - continued for the Year Ended 30 June 2023
3. OTHER TRADING ACTIVITIES
Gallery sales
Other income
Gift aid
INVESTMENT INCOME
Deposit account interest
INCOME FROM CHARITABLE ACTIVITIES
Activity
Full time students
Education
Evening classes
Education
Masterclasses
Education |
2023
£
27,084
770
-
27,854
2023
£
2,049
2023
£
130,471
27,440
25,631
183,542 |
2022
£
59,079
240
2,171
61,490
2022
£
304
2022
£
-
31,620
75,028 |
|
|
106,648 |
4.
5. INCOME FROM CHARITABLE ACTIVITIES
6. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 30 June 2023 nor for the year ended 30 June 2022.
Trustees' expenses
The charity trustees were not paid or received any other benefits from employment.
The charity issued reimbursements totalling £793 during the year to 2 of the 5 trustees.
7.
Travel
Accomodation
£
£
K. Bunting
46
L. Hammond
134
613
STAFF COSTS
Wages and salaries
Social security costs
Other pension costs |
2023
£
65,973
(1,005)
1,248
66,216 |
2022
£
78,685
574
1,593
80,852 |
|
|
|
The average monthly number of employees during the year was as follows:
Administration
Charitable activities |
2023
2
2
4 |
2022
3
- |
|
|
3 |
continued...
Page 9
Adopt A Potter Limited
Notes to the Financial Statements - continued for the Year Ended 30 June 2023
7. STAFF COSTS - continued
No employees received emoluments in excess of £60,000.
8.
2022 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
Restricted
fund
fund
£
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
11,904
-
Charitable activities
Education
106,648
-
Other trading activities
61,490
-
Investment income
304
-
Total
180,346
-
EXPENDITURE ON
Charitable activities
General
52,093
-
Education
101,120
-
Other trading activities
42,832
-
Total
196,045
-
NET INCOME/(EXPENDITURE)
(15,699)
-
RECONCILIATION OF FUNDS
Total funds brought forward
210,329
-
TOTAL FUNDS CARRIED FORWARD
194,630
-
9.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023
£
Trade debtors
850
Other debtors
-
Prepayments
749
1,599 |
Total
funds
£
11,904
106,648
61,490
304 |
|
180,346 |
|
52,093
101,120
42,832 |
|
196,045 |
|
(15,699)
210,329 |
|
194,630 |
|
2022
£
1,339
213
828
2,380 |
continued...
Page 10
Adopt A Potter Limited
Notes to the Financial Statements - continued for the Year Ended 30 June 2023
10.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Social security and other taxes
Other creditors
Accruals and deferred income
11.
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
Deferred bursary income
12.
MOVEMENT IN FUNDS
Unrestricted funds
General fund
Restricted funds
Bursary
TOTAL FUNDS
Net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
Restricted funds
Bursary
TOTAL FUNDS |
2023
2022
£
£
4,823
1,649
625
(2,191)
-
2,198
2,513
46,530
7,961
48,186
2023
2022
£
£
135,180
66,380
Net
movement
At
At 1.7.22
in funds
30.6.23
£
£
£
194,630
6,125
200,755
-
35,200
35,200
194,630
41,325
235,955
Incoming
Resources
Movement
resources
expended
in funds
£
£
£
191,468
(185,343)
6,125
35,200
-
35,200
226,668
(185,343)
41,325 |
|
2022
£
1,649
(2,191)
2,198
46,530 |
|
|
|
48,186 |
continued...
Page 11
Adopt A Potter Limited
Notes to the Financial Statements - continued for the Year Ended 30 June 2023
12. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
Unrestricted funds
General fund
TOTAL FUNDS
Comparative net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
TOTAL FUNDS |
Net
movement
At
At 1.7.21
in funds
30.6.22
£
£
£
210,329
(15,699)
194,630
210,329
(15,699)
194,630
Incoming
Resources
Movement
resources
expended
in funds
£
£
£
180,346
(196,045)
(15,699)
180,346
(196,045)
(15,699) |
At
30.6.22
£
194,630 |
|
|
194,630 |
|
|
(15,699) |
A current year 12 months and prior year 12 months combined position is as follows:
Unrestricted funds
General fund
Restricted funds
Bursary
TOTAL FUNDS |
Net
movement
At 1.7.21
in funds
£
£
210,329
(9,574)
-
35,200
210,329
25,626 |
At
30.6.23
£
200,755
35,200 |
|
|
235,955 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
Restricted funds
Bursary
TOTAL FUNDS |
Incoming
Resources
Movement
resources
expended
in funds
£
£
£
371,814
(381,388)
(9,574)
35,200
-
35,200
407,014
(381,388)
25,626 |
Incoming
Resources
Movement
resources
expended
in funds
£
£
£
371,814
(381,388)
(9,574)
35,200
-
35,200
407,014
(381,388)
25,626 |
|
|
25,626 |
continued...
Page 12
Adopt A Potter Limited
Notes to the Financial Statements - continued for the Year Ended 30 June 2023
12. MOVEMENT IN FUNDS - continued
The bursary fund exists to provide financialassistancein paying full time college fees for those students who are in need. The revenue is
recognisedin theacademicyearofthestudent.Costsassociatedtothestudentarecoveredby thebursaryup to,butnot exceeding,
the declared amount.
The company holds deferred income in respect of students fees in future years.
13. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 30 June 2023.
Page 13
Adopt A Potter Limited
Detailed Statement of Financial Activities for the Year Ended 30 June 2023
Detailed Statement of Financial Activities
for the Year Ended 30 June 2023 |
|
|
|
2023 |
2022 |
|
£ |
£ |
INCOME AND ENDOWMENTS |
|
|
Donations and legacies |
|
|
Donations |
13,223 |
11,904 |
Other trading activities |
|
|
Gallery sales |
27,084 |
59,079 |
Other income |
770 |
240 |
Gift aid |
- |
2,171 |
|
27,854 |
61,490 |
Investment income |
|
|
Deposit account interest |
2,049 |
304 |
Charitable activities |
|
|
Full time students |
130,471 |
- |
Evening classes |
27,440 |
31,620 |
Masterclasses |
25,631 |
75,028 |
|
183,542 |
106,648 |
Total incoming resources |
226,668 |
180,346 |
EXPENDITURE |
|
|
Charitable activities |
|
|
Wages |
36,087 |
33,731 |
Social security |
(613) |
215 |
Pensions |
724 |
950 |
Evening class tutors |
6,611 |
6,218 |
Additional tutors |
9,830 |
2,762 |
Masterclass tutors |
7,309 |
2,013 |
Studio tools & equipment |
4,948 |
1,707 |
Studio materials |
10,606 |
17,921 |
Apprentice payments |
1,500 |
3,333 |
|
77,002 |
68,850 |
Other trading activities |
|
|
Wages |
12,744 |
21,500 |
Social security |
(329) |
171 |
Pensions |
273 |
458 |
Salaries part time |
14,931 |
11,199 |
Gallery expenses |
9,169 |
9,504 |
|
36,788 |
42,832 |
Support costs |
|
|
Management |
|
|
Wages |
17,142 |
23,454 |
Carried forward |
17,142 |
23,454 |
This page does not form part of the statutory financial statements
Page 14
Adopt A Potter Limited
Detailed Statement of Financial Activities for the Year Ended 30 June 2023
Detailed Statement of Financial Activities
for the Year Ended 30 June 2023 |
|
|
|
2023 |
2022 |
|
£ |
£ |
Management |
|
|
Brought forward |
17,142 |
23,454 |
Social security |
(63) |
188 |
Pensions |
251 |
185 |
Cleaning, security & caretaking |
4,233 |
3,365 |
Service charge |
5,021 |
4,999 |
Rent |
18,000 |
18,271 |
Rates |
1,305 |
- |
Insurance |
2,326 |
1,515 |
Utilities |
5,637 |
6,660 |
Telephone & internet |
225 |
563 |
Office supplies |
941 |
194 |
Website |
584 |
539 |
Advertising & marketing |
739 |
743 |
IT software and consumables |
402 |
410 |
Repairs & replacements |
1,833 |
1,774 |
Office equipment |
162 |
848 |
Trustee expenses |
793 |
1,087 |
Postage, freight & courier |
1,058 |
597 |
Packaging |
202 |
757 |
General expenses |
2,638 |
9,085 |
Printing & stationery |
- |
234 |
Travel - national |
824 |
649 |
Catering |
556 |
490 |
|
64,809 |
76,607 |
Finance |
|
|
IZettle fees |
464 |
765 |
Bank fees |
1,170 |
1,572 |
|
1,634 |
2,337 |
Governance costs |
|
|
Accountancy and legal fees |
5,110 |
5,419 |
Total resources expended |
185,343 |
196,045 |
Net income/(expenditure) |
41,325 |
(15,699) |
This page does not form part of the statutory financial statements
Page 15