2022-05-012023-04-302023-04-30false06868395HAMTEC CONSULTING 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HAMTEC CONSULTING LTD

Registered Number
06868395
(England and Wales)

Unaudited Financial Statements for the Year ended
30 April 2023

HAMTEC CONSULTING LTD
Company Information
for the year from 1 May 2022 to 30 April 2023

Director

Mr M Jenner

Company Secretary

Mr M Jenner

Registered Address

12 Tentercroft Street
Lincoln
LN5 7DB

Place of Business

22 Old Cape road

Simola Golf and Country Estate

Kynsna

South Africa


Registered Number

06868395 (England and Wales)
HAMTEC CONSULTING LTD
Balance Sheet as at
30 April 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets3361,237244,201
Investments437,273-
398,510244,201
Current assets
Debtors5243,901173,934
Cash at bank and on hand42,17783,449
286,078257,383
Creditors amounts falling due within one year6(358,093)(118,759)
Net current assets (liabilities)(72,015)138,624
Total assets less current liabilities326,495382,825
Creditors amounts falling due after one year7(116,640)(138,345)
Net assets209,855244,480
Capital and reserves
Called up share capital1,0001,000
Profit and loss account208,855243,480
Shareholders' funds209,855244,480
The financial statements were approved and authorised for issue by the Director on 16 July 2024, and are signed on its behalf by:
Mr M Jenner
Director
Registered Company No. 06868395
HAMTEC CONSULTING LTD
Notes to the Financial Statements
for the year ended 30 April 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). Group accounts not prepared The company is exempt from the obligation to prepare and deliver group accounts.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Borrowing costs
Borrowing costs directly attributable to the acquisition, construction or production of qualifying assets, which are assets that necessarily take a substantial period of time to get ready for their intended use or sale, are added to the cost of those assets, until such time as the assets are substantially ready for their intended use or sale. Investment income earned on the temporary investment of specific borrowings pending their expenditure on qualifying assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)Straight line (years)
Vehicles25-
Office Equipment-3
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
Related parties
For the purposes of these financial statements, a related party could be a person or an entity. Careful consideration is given to the definition of a related party to ensure that all related party relationships, transactions and balances are identified.
2.Average number of employees

20232022
Average number of employees during the year1511
3.Tangible fixed assets

Land & buildings

Fixtures & fittings

Total

£££
Cost or valuation
At 01 May 22210,42145,755256,176
Additions118,1234,761122,884
At 30 April 23328,54450,516379,060
Depreciation and impairment
At 01 May 22-11,97511,975
Charge for year-5,8485,848
At 30 April 23-17,82317,823
Net book value
At 30 April 23328,54432,693361,237
At 30 April 22210,42133,780244,201
Included within the net book value of land and buildings above is £328,544 (2022 - £210,421) in respect of freehold land and buildings.
4.Fixed asset investments

Investments in groups1

Total

££
Cost or valuation
Additions37,27337,273
At 30 April 2337,27337,273
Net book value
At 30 April 2337,27337,273
At 30 April 22--

Notes

1Investments in group undertakings and participating interests
5.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables211,476172,817
Other debtors32,4251,117
Total243,901173,934
6.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables1,6885,257
Bank borrowings and overdrafts9,2089,950
Taxation and social security98,16080,798
Other creditors243,98714,614
Accrued liabilities and deferred income5,0508,140
Total358,093118,759
7.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts116,640138,345
Total116,640138,345
8.Secured creditors
Bank Loan is denominated in £ with a nominal interest rate of market rate, and the final instalment is due 3 December 2036. The carrying amount at year end is £125,848 (2022 - £148,295).
9.Directors advances, credits and guarantees

Brought forward

Amount advanced

Amount repaid

Carried forward

££££
Mr M Jenner83608360
2023
83608360
Mr M Jenner Directors Loan Account closing balance for 2022 was £836.
10.Related party transactions
During the year the company made a 50% investment in Turbo Sports, a company incorporated in South Africa supplying swimwear. It also made a 100% investment in Hamtec Consulting GmbH, a company incorporated in Germany supplying labour services into the European Space Agency. The company purchased stock for Turbo Sports in the year amounting to £37,026.This is included in debtors at the year end. Funds received from Hamtec Consulting GmbH amount to £243,949. This is included in creditors at the year end.