Company Registration No. 07982676 (England and Wales)
HAMILTON HEATH GROUP LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MAY 2023
31 May 2023
PAGES FOR FILING WITH REGISTRAR
PM+M Solutions for Business LLP
Chartered Accountants
New Century House
Greenbank Technology Park
Challenge Way
Blackburn
Lancashire
BB1 5QB
HAMILTON HEATH GROUP LIMITED
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
Notes to the financial statements
2 - 4
HAMILTON HEATH GROUP LIMITED
BALANCE SHEET
AS AT
31 MAY 2023
31 May 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investments
3
4,347,266
4,347,266
Current assets
Debtors
5
892
163
Cash at bank and in hand
1,069
10,968
1,961
11,131
Creditors: amounts falling due within one year
6
(3,628,128)
(3,532,660)
Net current liabilities
(3,626,167)
(3,521,529)
Net assets
721,099
825,737
Capital and reserves
Called up share capital
202
202
Other reserves
719,870
824,870
Profit and loss reserves
7
1,027
665
Total equity
721,099
825,737

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 31 January 2024 and are signed on its behalf by:
A Chaytow
Director
Company registration number 07982676 (England and Wales)
HAMILTON HEATH GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023
- 2 -
1
Accounting policies
Company information

Hamilton Heath Group Limited is a private company limited by shares incorporated in England and Wales. The registered office is Lester House, 19-21 Broad Street, Bury, Lancashire, BL9 0DA.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention and to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.2
Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.4
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of expected future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not discounted.

HAMILTON HEATH GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
1
Accounting policies
(Continued)
- 3 -
Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not discounted.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 2 (2022 - 2).

2023
2022
Number
Number
Total
2
2
3
Fixed asset investments
Movements in fixed asset investments
Shares in group undertakings
Loans to group undertakings
Total
£
£
£
Cost or valuation
At 1 June 2022 & 31 May 2023
2,693,145
1,654,121
4,347,266
Carrying amount
At 31 May 2023
2,693,145
1,654,121
4,347,266
At 31 May 2022
2,693,145
1,654,121
4,347,266
4
Subsidiaries

Details of the company's subsidiaries at 31 May 2023 are as follows:

HAMILTON HEATH GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
4
Subsidiaries
(Continued)
- 4 -
Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Indirect
Hamilton Heath Estates (No.2) Limited
Lester Huose, 19-21 Broad Street, Bury, Lancashire, BL9 0DA
Ordinary
100.00
-
Hamilton Heath Estates Limited
Lester Huose, 19-21 Broad Street, Bury, Lancashire, BL9 0DA
Ordinary
-
100.00
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
892
163
6
Creditors: amounts falling due within one year
2023
2022
£
£
Amounts owed to group undertakings
2,534,730
2,476,730
Other creditors
1,093,398
1,055,930
3,628,128
3,532,660

Included within other creditors are amounts advanced by the shareholders families of £972,367 (2022: £997,367). Interest is charged at 8% per annum.

 

Included within other creditors are amounts due to directors of £104,995 (2022: £45,693). Interest is not charged on these balances.

7
Other reserves
2023
2022
£
£
At the beginning of the year
665
(2,396)
Profit for the year
362
3,061
Dividends declared and paid in the year
(105,000)
(674,062)
Other
105,000
674,062
At the end of the year
1,027
665
8
Related party transactions
Transactions with related parties

FRS 102 does not require disclosure of transactions entered into between two or more members of a group, provided that any subsidiary which is a party to the transaction is wholly owned by such a member or of transactions between related parties, provided that they are conducted at market rate.

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