Company Registration No. 07836296 (England and Wales)
HAMAX LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 NOVEMBER 2022
PAGES FOR FILING WITH REGISTRAR
HAMAX LTD
COMPANY INFORMATION
Directors
Mr M R Hamer
Mrs A J Hamer
(Appointed 1 December 2021)
Company number
07836296
Registered office
Suite 5b Malvern Gate
Bromwich Road
Worcester
WR2 4BN
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
HSBC Bank Plc
6 Broad Street
Worcester
Worcestershire
WR1 3LH
HAMAX LTD
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 7
HAMAX LTD
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF HAMAX LTD FOR THE PERIOD ENDED 29 NOVEMBER 2022
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Hamax Ltd for the period ended 29 November 2022 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Hamax Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Hamax Ltd and state those matters that we have agreed to state to the Board of Directors of Hamax Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Hamax Ltd and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that Hamax Ltd 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 Hamax Ltd. You consider that Hamax Ltd is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Hamax Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Ormerod Rutter Limited
8 March 2024
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
HAMAX LTD
BALANCE SHEET
AS AT
29 NOVEMBER 2022
29 November 2022
- 2 -
2022
2021
Notes
£
£
£
£
Fixed assets
Tangible assets
4
39,253
49,200
Current assets
Debtors
5
565,320
363,402
Cash at bank and in hand
78,073
82,356
643,393
445,758
Creditors: amounts falling due within one year
6
(436,378)
(391,826)
Net current assets
207,015
53,932
Total assets less current liabilities
246,268
103,132
Creditors: amounts falling due after more than one year
7
(26,039)
(35,655)
Net assets
220,229
67,477
Capital and reserves
Called up share capital
9
1
1
Profit and loss reserves
220,228
67,476
Total equity
220,229
67,477

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 period ended 29 November 2022 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 period 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.

HAMAX LTD
BALANCE SHEET (CONTINUED)
AS AT
29 NOVEMBER 2022
29 November 2022
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 8 March 2024 and are signed on its behalf by:
Mr M R Hamer
Director
Company Registration No. 07836296
HAMAX LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 NOVEMBER 2022
- 4 -
1
Accounting policies
Company information

Hamax Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Suite 5b Malvern Gate, Bromwich Road, Worcester, WR2 4BN.

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 have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the provision of services is recognised by reference to the stage of completion, when the costs incurred and costs to complete can be estimated reliably.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
20% on reducing balance
Computers
20% on cost
Motor vehicles
33% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

HAMAX LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 29 NOVEMBER 2022
1
Accounting policies
(Continued)
- 5 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.5
Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.6
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.7
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease asset are consumed.

1.8
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2
Employees

The average monthly number of persons (including directors) employed by the company during the period was 132 (2021 - 132).

HAMAX LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 29 NOVEMBER 2022
- 6 -
3
Intangible fixed assets
Goodwill
£
Cost
At 1 December 2021 and 29 November 2022
39,000
Amortisation and impairment
At 1 December 2021 and 29 November 2022
39,000
Carrying amount
At 29 November 2022
-
0
At 30 November 2021
-
0
4
Tangible fixed assets
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
Cost
At 1 December 2021
12,992
15,438
125,931
154,361
Additions
-
0
688
7,933
8,621
At 29 November 2022
12,992
16,126
133,864
162,982
Depreciation and impairment
At 1 December 2021
8,155
11,847
85,159
105,161
Depreciation charged in the period
967
1,528
16,073
18,568
At 29 November 2022
9,122
13,375
101,232
123,729
Carrying amount
At 29 November 2022
3,870
2,751
32,632
39,253
At 30 November 2021
4,836
3,591
40,773
49,200
5
Debtors
2022
2021
Amounts falling due within one year:
£
£
Trade debtors
151,873
131,244
Amounts owed by group undertakings
249,553
17,459
Other debtors
163,894
214,699
565,320
363,402
HAMAX LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 29 NOVEMBER 2022
- 7 -
6
Creditors: amounts falling due within one year
2022
2021
£
£
Bank loans and overdrafts
9,616
9,626
Trade creditors
17,809
10,839
Taxation and social security
247,700
208,121
Other creditors
161,253
163,240
436,378
391,826
7
Creditors: amounts falling due after more than one year
2022
2021
£
£
Bank loans and overdrafts
26,039
35,655
8
Secured debts
The following secured debts are included within creditors:
2022
2021
£
£
Bank loans
35,655
45,281
Bank loans are secured by way of a government-backed guarantee.
9
Called up share capital
2022
2021
£
£
Ordinary share capital
Issued and fully paid
2 Ordinary of 50p each
1
1
1
1
10
Control
Ultimate parent company

The ultimate parent company is Care 1775 Limited, a company registered in England and Wales.

Ultimate controlling party

The ultimate controlling party is Mr M R Hamer and Mrs A J Hamer, by virtue of their controlling interest in the ultimate parent company.

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