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REGISTERED NUMBER: 01227458 (England and Wales)

















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

HECTOR CAMERON SECURITIES LIMITED

HECTOR CAMERON SECURITIES LIMITED (REGISTERED NUMBER: 01227458)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HECTOR CAMERON SECURITIES LIMITED

COMPANY INFORMATION
for the Year Ended 31 March 2023







DIRECTORS: Mrs A N Cameron
J N Cameron
Mrs C J Broatch





REGISTERED OFFICE: Moss House
Tarn Road
Brampton
Cumbria
CA8 1QY





REGISTERED NUMBER: 01227458 (England and Wales)





ACCOUNTANTS: Cresswells
12 Market Sreet
Hebden Bridge
HX7 6AD

HECTOR CAMERON SECURITIES LIMITED (REGISTERED NUMBER: 01227458)

BALANCE SHEET
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 5 5
Investments 5 1,618 1,618
Investment property 6 437,000 437,000
438,623 438,623

CURRENT ASSETS
Debtors 7 21,553 53,019
Cash at bank 30,472 22,923
52,025 75,942
CREDITORS
Amounts falling due within one year 8 86,603 76,554
NET CURRENT LIABILITIES (34,578 ) (612 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

404,045

438,011

PROVISIONS FOR LIABILITIES 10 46,154 35,077
NET ASSETS 357,891 402,934

CAPITAL AND RESERVES
Called up share capital 11 100 100
Fair value reserve 12 250,613 261,690
Retained earnings 12 107,178 141,144
SHAREHOLDERS' FUNDS 357,891 402,934

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

HECTOR CAMERON SECURITIES LIMITED (REGISTERED NUMBER: 01227458)

BALANCE SHEET - continued
31 March 2023


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 Board of Directors and authorised for issue on 25 November 2023 and were signed on its behalf by:





Mrs A N Cameron - Director


HECTOR CAMERON SECURITIES LIMITED (REGISTERED NUMBER: 01227458)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Hector Cameron Securities 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents earned income from commercial leasing and commercial retail financing, net of value added tax.

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 - over 5 years

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

HECTOR CAMERON SECURITIES LIMITED (REGISTERED NUMBER: 01227458)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued

Finance leases and instalment credit
The total gross charges under finance leases are allocated over the accounting periods in which rentals are due using rule of 78 method.

Income from instalment credit agreements is determined by spreading charges over the accounting periods in which repayments are due using the actuarial method.

The unearned finance charges represent the balances remaining after allocating the finance charges over the period in which repayments are due, as at the balance sheet date, using the actuarial method.

Bad debts
Specific provisions are made for advances when the directors are of the opinion that any advance may not be recovered in full. No round sum provision is made to cover advances which may be bad or doubtful but not yet identified as such.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 April 2022
and 31 March 2023 26,709
DEPRECIATION
At 1 April 2022
and 31 March 2023 26,704
NET BOOK VALUE
At 31 March 2023 5
At 31 March 2022 5

5. FIXED ASSET INVESTMENTS
Shares in
group Unlisted
undertakings investments Totals
£    £    £   
COST
At 1 April 2022
and 31 March 2023 100 1,518 1,618
NET BOOK VALUE
At 31 March 2023 100 1,518 1,618
At 31 March 2022 100 1,518 1,618

HECTOR CAMERON SECURITIES LIMITED (REGISTERED NUMBER: 01227458)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2023

5. FIXED ASSET INVESTMENTS - continued

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Lakeland Leasing Limited
Registered office: Moss House, Tarn Road, Brampton, Cumbria, CA8 1QY
Nature of business: Provision of leasing and hire purchases
%
Class of shares: holding
Ordinary A 49.00
Ordinary 51.00
2023 2022
£    £   
Aggregate capital and reserves 255 435
(Loss)/profit for the year (180 ) 20,470

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022
and 31 March 2023 437,000
NET BOOK VALUE
At 31 March 2023 437,000
At 31 March 2022 437,000

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2010 156,767
Valuation in 2013 130,000
Valuation in 2017 10,000
Valuation in 2021 (3,000 )
Cost 143,233
437,000

7. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Amounts receivable in respect of
finance leases

6,831

24,632
Amounts receivable in respect of hire
purchase contracts

-

2,414
Other debtors 649 5,844
Directors' current accounts 2,560 -
Tax - 2,625
Prepayments and accrued income 483 684
10,523 36,199

HECTOR CAMERON SECURITIES LIMITED (REGISTERED NUMBER: 01227458)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2023

7. DEBTORS - continued
2023 2022
£    £   
Amounts falling due after more than one year:
Amounts receivable in respect of
finance leases

11,030

16,820

Aggregate amounts 21,553 53,019

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 7,329 4,394
VAT 15,080 17,040
Other creditors - 445
Directors' current accounts 64,194 54,675
86,603 76,554

9. SECURED DEBTS

Bank borrowings of the company are secured with a charge over the companies investment properties.

10. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 46,154 35,077

Deferred
tax
£   
Balance at 1 April 2022 35,077
Provided during year 11,077
Balance at 31 March 2023 46,154

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
40 Ordinary A £1 40 40
40 Ordinary B £1 40 40
10 Ordinary C £1 10 10
10 Ordinary D £1 10 10
100 100

HECTOR CAMERON SECURITIES LIMITED (REGISTERED NUMBER: 01227458)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2023

12. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 April 2022 141,144 261,690 402,834
Deficit for the year (38,743 ) (38,743 )
Dividends (6,300 ) (6,300 )
Fair value adjustment 11,077 (11,077 ) -
At 31 March 2023 107,178 250,613 357,791

13. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2023 and 31 March 2022:

2023 2022
£    £   
Mrs A N Cameron
Balance outstanding at start of year - -
Amounts advanced 2,560 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 2,560 -