Registered number
SC683829
FAMILY SHOPPER HAMILTON LTD
Filleted Accounts
31 March 2023
FAMILY SHOPPER HAMILTON LTD
Registered number: SC683829
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 37,794 29,793
Current assets
Stocks 95,732 100,727
Cash at bank and in hand 168,645 68,044
264,377 168,771
Creditors: amounts falling due within one year 4 (86,138) (56,598)
Net current assets 178,239 112,173
Total assets less current liabilities 216,033 141,966
Creditors: amounts falling due after more than one year 5 (123,348) (107,566)
Net assets 92,685 34,400
Capital and reserves
Called up share capital 100 100
Profit and loss account 92,585 34,300
Shareholder's funds 92,685 34,400
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Omar Amir
Director
Approved by the board on 24 October 2023
FAMILY SHOPPER HAMILTON LTD
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment 10% Reducing Balance Method
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Current and deferred tax assets and liabilities are not discounted.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 14 14
3 Tangible fixed assets
Fixture & fittings
£
Cost
At 1 April 2022 33,103
Additions 12,200
At 31 March 2023 45,303
Depreciation
At 1 April 2022 3,310
Charge for the year 4,199
At 31 March 2023 7,509
Net book value
At 31 March 2023 37,794
At 31 March 2022 29,793
4 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 59,409 46,038
Taxation and social security costs 23,816 6,789
Other creditors 2,913 3,771
86,138 56,598
5 Creditors: amounts falling due after one year 2023 2022
£ £
Director's loan account 123,348 107,566
FAMILY SHOPPER HAMILTON LTD SC683829 false 2022-04-01 2023-03-31 2023-03-31 VT Final Accounts April 2022 Mr Omar Amir No description of principal activity SC683829 2021-04-01 2022-03-31 SC683829 core:WithinOneYear 2022-03-31 SC683829 core:AfterOneYear 2022-03-31 SC683829 core:ShareCapital 2022-03-31 SC683829 core:RetainedEarningsAccumulatedLosses 2022-03-31 SC683829 2022-04-01 2023-03-31 SC683829 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 SC683829 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 SC683829 bus:Director40 2022-04-01 2023-03-31 SC683829 2 2022-04-01 2023-03-31 SC683829 core:PlantMachinery 2022-04-01 2023-03-31 SC683829 bus:FRS102 2022-04-01 2023-03-31 SC683829 bus:FullAccounts 2022-04-01 2023-03-31 SC683829 2023-03-31 SC683829 core:WithinOneYear 2023-03-31 SC683829 core:AfterOneYear 2023-03-31 SC683829 core:ShareCapital 2023-03-31 SC683829 core:RetainedEarningsAccumulatedLosses 2023-03-31 SC683829 core:PlantMachinery 2023-03-31 SC683829 2022-03-31 SC683829 core:PlantMachinery 2022-03-31 iso4217:GBP xbrli:pure