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HAMES ELECTRONICS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023






HAMES ELECTRONICS LIMITED (REGISTERED NUMBER: 07670886)

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


HAMES ELECTRONICS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTOR: D Hames





REGISTERED OFFICE: Wilkinson and Partners
Fairfax House
6A Mill Field Road, Cottingley Business
Cottingley, Bingley
West Yorkshire
BD16 1PY





REGISTERED NUMBER: 07670886 (England and Wales)





ACCOUNTANTS: Wilkinson and Partners
Chartered Accountants
Fairfax House
6a Mill Field Road
Cottingley Business Park
Bradford
West Yorkshire
BD16 1PY

HAMES ELECTRONICS LIMITED (REGISTERED NUMBER: 07670886)

BALANCE SHEET
31 MARCH 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,451 5,856

CURRENT ASSETS
Stocks 750 3,321
Debtors 5 34,265 40,241
Cash at bank 98,110 79,924
133,125 123,486
CREDITORS
Amounts falling due within one year 6 42,763 42,866
NET CURRENT ASSETS 90,362 80,620
TOTAL ASSETS LESS CURRENT LIABILITIES 94,813 86,476

CREDITORS
Amounts falling due after more than one
year

7

(918

)

(6,724

)

PROVISIONS FOR LIABILITIES 8 (846 ) (1,113 )
NET ASSETS 93,049 78,639

CAPITAL AND RESERVES
Called up share capital 9 10 10
Retained earnings 93,039 78,629
SHAREHOLDERS' FUNDS 93,049 78,639

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 director acknowledges his 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.

HAMES ELECTRONICS LIMITED (REGISTERED NUMBER: 07670886)

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 19 January 2024 and were signed by:





D Hames - Director


HAMES ELECTRONICS LIMITED (REGISTERED NUMBER: 07670886)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

Hames Electronics 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.

In accordance with Section 444 of the Companies Act 2006, the Directors Report has not been delivered.

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.

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.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

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.

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.

HAMES ELECTRONICS LIMITED (REGISTERED NUMBER: 07670886)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES

The average number of employees during the year was 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2022
and 31 March 2023 9,600 1,125 11,490 1,550 23,765
DEPRECIATION
At 1 April 2022 7,892 538 7,930 1,549 17,909
Charge for year 427 88 890 - 1,405
At 31 March 2023 8,319 626 8,820 1,549 19,314
NET BOOK VALUE
At 31 March 2023 1,281 499 2,670 1 4,451
At 31 March 2022 1,708 587 3,560 1 5,856

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 34,265 40,241

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Other loans 5,015 5,015
Trade creditors 256 -
Tax 13,435 10,969
Social security and other taxes 835 883
VAT 20,418 23,605
Other creditors 24 -
Directors' current accounts 185 90
Accrued expenses 2,595 2,304
42,763 42,866

The director's loan account is interest free and repayable on demand.

HAMES ELECTRONICS LIMITED (REGISTERED NUMBER: 07670886)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.23 31.3.22
£    £   
Other loans - after 1 year 918 6,724

8. PROVISIONS FOR LIABILITIES
31.3.23 31.3.22
£    £   
Deferred tax 846 1,113

Deferred
tax
£   
Balance at 1 April 2022 1,113
Accelerated capital allowances (267 )
Balance at 31 March 2023 846

The deferred tax balance is made up entirely of accelerated capital allowances.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
1 Ordinary 1.0 10 10

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is D Hames.