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Registration number: 06419717

Hamilton Mercer Training Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2023

 

Hamilton Mercer Training Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 11

 

Hamilton Mercer Training Limited

Company Information

Directors

Mrs S Scofield

Mr O Scofield

Mr S G Scofield

Company secretary

Mrs S Scofield

Registered office

930 High Road
London
N12 9RT

Registered number

06419717

Accountants

Ripe LLP
Chartered Accountants
9A Burroughs Gardens
London
NW4 4AU

 

Hamilton Mercer Training Limited

(Registration number: 06419717)
Balance Sheet as at 30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

7,979

15,093

Tangible assets

5

3,329

4,035

 

11,308

19,128

Current assets

 

Debtors

6

152,823

114,794

Cash at bank and in hand

 

12,898

54,566

 

165,721

169,360

Creditors: Amounts falling due within one year

7

(135,662)

(104,342)

Net current assets

 

30,059

65,018

Total assets less current liabilities

 

41,367

84,146

Creditors: Amounts falling due after more than one year

7

(37,509)

(39,054)

Net assets

 

3,858

45,092

Capital and reserves

 

Called up share capital

8

102

102

Retained earnings

3,756

44,990

Shareholders' funds

 

3,858

45,092

 

Hamilton Mercer Training Limited

(Registration number: 06419717)
Balance Sheet as at 30 November 2023

For the financial year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 2 August 2024 and signed on its behalf by:
 

.........................................
Mrs S Scofield
Company secretary and director

.........................................
Mr O Scofield
Director

.........................................
Mr S G Scofield
Director

 

Hamilton Mercer Training Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
930 High Road
London
N12 9RT

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in Sterling (£) and figures are shown to the nearest whole pound.

Going concern

The accounts have been prepared on a going concern basis on the understanding that the directors and creditors will continue to support the company for the foreseeable future.

Revenue recognition

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of services to customers.

Government grants

Government grants in relation to expenditure are credited to profit and loss account when the expenditure is charged to profit and loss.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Hamilton Mercer Training Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixture, fittings, tools and equipment

15% on cost

Office equipment

25% on cost

Motor vehicles

25% on reducing balance

Computer equipment

33% on cost

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.

Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Intellectual property

over the useful life of 5 years

Website costs

over the useful life of 5 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Hamilton Mercer Training Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Research and development

Development expenditure incurred on an individual project is carried forward when its future recoverability can reasonably be regarded as assured. Any expenditure carried forward is amortised in line with the expected future sales from the related project.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 7 (2022 - 7).

 

Hamilton Mercer Training Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

4

Intangible assets

Website Development
 £

Intellectual Property
 £

Total
£

Cost or valuation

At 1 December 2022

14,173

53,757

67,930

At 30 November 2023

14,173

53,757

67,930

Amortisation

At 1 December 2022

8,386

44,451

52,837

Amortisation charge

2,835

4,279

7,114

At 30 November 2023

11,221

48,730

59,951

Carrying amount

At 30 November 2023

2,952

5,027

7,979

At 30 November 2022

5,787

9,306

15,093

 

Hamilton Mercer Training Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

5

Tangible assets

Fixtures and fittings
£

Computer equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 December 2022

12,248

12,158

3,500

27,906

Additions

473

-

-

473

At 30 November 2023

12,721

12,158

3,500

28,379

Depreciation

At 1 December 2022

8,263

12,158

3,450

23,871

Charge for the year

1,167

-

12

1,179

At 30 November 2023

9,430

12,158

3,462

25,050

Carrying amount

At 30 November 2023

3,291

-

38

3,329

At 30 November 2022

3,985

-

50

4,035

6

Debtors

Current

2023
£

2022
£

Trade debtors

25,589

72,419

Prepayments

46,454

39,225

Other debtors

80,780

3,150

 

152,823

114,794

7

Creditors

Creditors: amounts falling due within one year

 

Hamilton Mercer Training Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

9

4,412

6,618

Trade creditors

 

600

4,645

Taxation and social security

 

100,653

72,691

Accruals and deferred income

 

10,000

12,500

Other creditors

 

19,997

7,888

 

135,662

104,342

 

Hamilton Mercer Training Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

37,509

39,054

8

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary shares A of £1 each

100

100

100

100

Ordinary shares B of £1 each

1

1

1

1

Ordinary shares C of £1 each

1

1

1

1

102

102

102

102

9

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Bank borrowings

37,509

39,054

Current loans and borrowings

2023
£

2022
£

Bank borrowings

4,412

6,618

 

Hamilton Mercer Training Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

10

Dividends

Interim dividends paid

2023
£

2022
£

Interim dividend of £652.80 (2022 - £1,050.90) per each Ordinary shares A

65,280

105,090

Interim dividend of £25,216.64 (2022 - £25,750.00) per each Ordinary shares C

50,433

25,750

115,713

130,840

11

Related party transactions

Included in other creditors is a balance of £2,175 (2022: £1,290.26) due to the director Mr S Scofield.

Included in other creditors is a balance of £3,482 (2022: £1,211) due to the director Mrs S Scofield.

Included in other creditors is a balance of £3,553 (2022: £2,310) due to the director Mr O Scofield.