Caseware UK (AP4) 2023.0.135 2023.0.135 2023-07-302023-07-30falsetrue2022-07-31No description of principal activity11trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 10262709 2022-07-31 2023-07-30 10262709 2021-07-31 2022-07-30 10262709 2023-07-30 10262709 2022-07-30 10262709 c:Director1 2022-07-31 2023-07-30 10262709 d:PlantMachinery 2022-07-31 2023-07-30 10262709 d:PlantMachinery 2023-07-30 10262709 d:PlantMachinery 2022-07-30 10262709 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-07-31 2023-07-30 10262709 d:ComputerEquipment 2022-07-31 2023-07-30 10262709 d:ComputerEquipment 2023-07-30 10262709 d:ComputerEquipment 2022-07-30 10262709 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-07-31 2023-07-30 10262709 d:OwnedOrFreeholdAssets 2022-07-31 2023-07-30 10262709 d:CurrentFinancialInstruments 2023-07-30 10262709 d:CurrentFinancialInstruments 2022-07-30 10262709 d:Non-currentFinancialInstruments 2023-07-30 10262709 d:Non-currentFinancialInstruments 2022-07-30 10262709 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-30 10262709 d:CurrentFinancialInstruments d:WithinOneYear 2022-07-30 10262709 d:Non-currentFinancialInstruments d:AfterOneYear 2023-07-30 10262709 d:Non-currentFinancialInstruments d:AfterOneYear 2022-07-30 10262709 d:ShareCapital 2023-07-30 10262709 d:ShareCapital 2022-07-30 10262709 d:RetainedEarningsAccumulatedLosses 2023-07-30 10262709 d:RetainedEarningsAccumulatedLosses 2022-07-30 10262709 c:FRS102 2022-07-31 2023-07-30 10262709 c:AuditExempt-NoAccountantsReport 2022-07-31 2023-07-30 10262709 c:FullAccounts 2022-07-31 2023-07-30 10262709 c:PrivateLimitedCompanyLtd 2022-07-31 2023-07-30 10262709 e:PoundSterling 2022-07-31 2023-07-30 iso4217:GBP xbrli:pure

Registered number: 10262709










HAMILTON SOUTH LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JULY 2023

 
HAMILTON SOUTH LIMITED
REGISTERED NUMBER: 10262709

STATEMENT OF FINANCIAL POSITION
AS AT 30 JULY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
-
41

  
-
41

Current assets
  

Stocks
 5 
93,085
92,533

Debtors: amounts falling due within one year
 6 
21
50

Cash at bank and in hand
  
29
18

  
93,135
92,601

Creditors: amounts falling due within one year
 7 
(557,202)
(538,580)

Net current liabilities
  
 
 
(464,067)
 
 
(445,979)

Total assets less current liabilities
  
(464,067)
(445,938)

Creditors: amounts falling due after more than one year
 8 
(8,125)
(8,333)

  

Net liabilities
  
(472,192)
(454,271)


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
(472,194)
(454,273)

  
(472,192)
(454,271)


Page 1

 
HAMILTON SOUTH LIMITED
REGISTERED NUMBER: 10262709
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 JULY 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 






................................................
D R South
Director

Date: 10 April 2024

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
HAMILTON SOUTH LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JULY 2023

1.


General information

Hamilton South Limited is a private company (registration number 10262709) limited by shares and incorporated in England. Its registered office is Oughterside House Well Road, Oughterside, Wigton, Cumbria, England, CA7 2PT.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Going concern

As shown in the financial statements, the Company has total liabilities exceeding its total assets by £472,192. The Company meets its day to day working capital requirements through the support of the director's loan account. The director has confirmed that his support will continue for the foreseeable future. For this reason, the Company has decided to prepare the accounts using the going concern basis.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 
HAMILTON SOUTH LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JULY 2023

2.Accounting policies (continued)


2.5
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
Straight line
Computer equipment
-
25%
Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Work in progress and finished goods include labour and attributable overheads.
At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.7

Debtors

Short term debtors are measured at transaction price, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. 

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the
Page 4

 
HAMILTON SOUTH LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JULY 2023

2.Accounting policies (continued)


2.10
Financial instruments (continued)

present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

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

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).

Page 5

 
HAMILTON SOUTH LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JULY 2023

4.


Tangible fixed assets





Plant and machinery
Computer equipment
Total

£
£
£



Cost or valuation


At 31 July 2022
250
989
1,239



At 30 July 2023

250
989
1,239



Depreciation


At 31 July 2022
250
948
1,198


Charge for the year on owned assets
-
41
41



At 30 July 2023

250
989
1,239



Net book value



At 30 July 2023
-
-
-



At 30 July 2022
-
41
41


5.


Stocks

2023
2022
£
£

Work in progress (goods to be sold)
93,085
92,533

93,085
92,533


Page 6

 
HAMILTON SOUTH LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JULY 2023

6.


Debtors

2023
2022
£
£


Other debtors
21
50

21
50



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
1,667
1,458

Other loans
130,813
124,330

Trade creditors
-
1,018

Other creditors
422,222
410,274

Accruals and deferred income
2,500
1,500

557,202
538,580


The loan is secured by way of a fixed legal charge over the land on the west side of Oughterside House, Oughterside, Wigton, CA7 2PT and a personal guarantee in the name of the director of the Company.
 


8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
8,125
8,333

8,125
8,333


 
Page 7