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REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

HAMILTON POW-R-SAFE SYSTEMS LIMITED

HAMILTON POW-R-SAFE SYSTEMS LIMITED (REGISTERED NUMBER: 02639325)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 December 2023




Page

Company Information 1

Report of the Directors 2

Balance Sheet 3

Notes to the Financial Statements 4

Chartered Certified Accountant's Report 8

HAMILTON POW-R-SAFE SYSTEMS LIMITED

COMPANY INFORMATION
for the year ended 31 December 2023







DIRECTORS: Mr J S Light
Mr J Marson





SECRETARY: Mrs B A Marson





REGISTERED OFFICE: Unit 1
Park Road
Holmewood Industrial Park
Chesterfield
Derbyshire
S42 5UW





REGISTERED NUMBER: 02639325 (England and Wales)





ACCOUNTANT: Hewitt Card Limited
Chartered Certified Accountants
70-72 Nottingham Road
Mansfield
Nottinghamshire
NG18 1BN

HAMILTON POW-R-SAFE SYSTEMS LIMITED (REGISTERED NUMBER: 02639325)

REPORT OF THE DIRECTORS
for the year ended 31 December 2023

The directors present their report with the financial statements of the company for the year ended 31 December 2023.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of the distribution of crane, electrical and ancillary equipment.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 January 2023 to the date of this report.

Mr J S Light
Mr J Marson

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





Mr J Marson - Director


11 March 2024

HAMILTON POW-R-SAFE SYSTEMS LIMITED (REGISTERED NUMBER: 02639325)

BALANCE SHEET
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 65,233 68,210

CURRENT ASSETS
Stocks 190,513 178,488
Debtors 6 352,089 399,737
Cash at bank and in hand 22,881 6,642
565,483 584,867
CREDITORS
Amounts falling due within one year 7 408,903 387,081
NET CURRENT ASSETS 156,580 197,786
TOTAL ASSETS LESS CURRENT LIABILITIES 221,813 265,996

CREDITORS
Amounts falling due after more than one year 8 (66,291 ) (139,419 )

PROVISIONS FOR LIABILITIES (14,087 ) (12,874 )
NET ASSETS 141,435 113,703

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 141,335 113,603
SHAREHOLDERS' FUNDS 141,435 113,703

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

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

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 March 2024 and were signed on its behalf by:



Mr J Marson - Director


HAMILTON POW-R-SAFE SYSTEMS LIMITED (REGISTERED NUMBER: 02639325)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 December 2023

1. STATUTORY INFORMATION

Hamilton Pow-R-Safe Systems 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The coronavirus pandemic has significantly disrupted individuals, personal lives and businesses, economic prospects in the UK and across the globe. The UK entered lockdown in March 2020 and some restrictions and social distancing provisions remain in place.

Despite the restrictions placed on our industry during the COVID-19 pandemic, we have managed to ensure that the business has continued to serve customers and act responsibly with suppliers and employees.

We have continued to prepare the accounts on a going concern basis and deem this appropriate. we do not consider that a material uncertainty about our going concern status currently exists. In making this assessment we have considered the likely trading conditions for a period of twelve months from the date of our approval of these accounts.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 10% on reducing balance
Motor vehicles - 25% 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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


HAMILTON POW-R-SAFE SYSTEMS LIMITED (REGISTERED NUMBER: 02639325)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023

3. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 10 ) .

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 168,520
Additions 13,074
At 31 December 2023 181,594
DEPRECIATION
At 1 January 2023 100,310
Charge for year 16,051
At 31 December 2023 116,361
NET BOOK VALUE
At 31 December 2023 65,233
At 31 December 2022 68,210

HAMILTON POW-R-SAFE SYSTEMS LIMITED (REGISTERED NUMBER: 02639325)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:

Plant and
machinery
etc
£   
COST
At 1 January 2023
and 31 December 2023 85,000
DEPRECIATION
At 1 January 2023 35,136
Charge for year 9,973
At 31 December 2023 45,109
NET BOOK VALUE
At 31 December 2023 39,891
At 31 December 2022 49,864

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 216,444 186,157
Amounts owed by associates 103,733 198,743
Tax - 3,754
Prepayments and accrued income 31,912 11,083
352,089 399,737

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 159,174 94,122
Other loans 67,128 81,747
Natwest CBBLS under 1 year 20,000 20,000
Trade creditors 109,301 126,239
Tax 13,003 5,901
Social security and other taxes 7,341 5,888
VAT 3,504 15,913
Directors' current accounts 23,612 31,691
Accrued expenses 5,840 5,580
408,903 387,081

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.23 31.12.22
£    £   
Other loans - 1-2 years 35,143 53,128
Natwest CBBLS 1-2 years 20,000 20,000
Natwest CBBLS 2-5 years 6,667 26,667
Funding Circle 2-5 years 4,481 39,624
66,291 139,419

HAMILTON POW-R-SAFE SYSTEMS LIMITED (REGISTERED NUMBER: 02639325)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023

9. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Bank overdrafts 159,174 94,122
Bank loans - 66,667
159,174 160,789

The bank loans are secured by debentures

CHARTERED CERTIFIED ACCOUNTANT'S REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
HAMILTON POW-R-SAFE SYSTEMS LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the financial statements of Hamilton Pow-R-Safe Systems Limited for the year ended 31 December 2023 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given me.

As a practising member of the Association of Chartered Certified Accountants, I am subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Hamilton Pow-R-Safe Systems Limited, as a body, in accordance with my terms of engagement. My work has been undertaken solely to prepare for your approval the financial statements of Hamilton Pow-R-Safe Systems Limited and state those matters that I have agreed to state to the Board of Directors of Hamilton Pow-R-Safe Systems Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for my work or for this report.

It is your duty to ensure that Hamilton Pow-R-Safe Systems Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Hamilton Pow-R-Safe Systems Limited. You consider that Hamilton Pow-R-Safe Systems Limited is exempt from the statutory audit requirement for the year.

I have not been instructed to carry out an audit or a review of the financial statements of Hamilton Pow-R-Safe Systems Limited. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory financial statements.






Hewitt Card Limited
Chartered Certified Accountants
70-72 Nottingham Road
Mansfield
Nottinghamshire
NG18 1BN


11 March 2024