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Registration number: 13750464

Hamilton Property & Investments Ltd

Unaudited Financial Statements

for the Year Ended 30 November 2023

 

Hamilton Property & Investments Ltd

Contents

Company Information

1

Balance Sheet

2

Statement of Changes in Equity

3

Notes to the Unaudited Financial Statements

4 to 7

 

Hamilton Property & Investments Ltd

Company Information

Directors

Mrs S Sahota

Mr S Sahota

Registered office

24 Lindrosa Road
Sutton Coldfield
B74 3JZ

Accountants

Erdingsworth Business & Tax Advisors
Unit 3 Cuckoo Wharf
427 Lichfield Road
Birmingham
B6 7SS

 

Hamilton Property & Investments Ltd

(Registration number: 13750464)
Balance Sheet as at 30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

333,767

334,255

Current assets

 

Cash at bank and in hand

 

7,123

2,913

Creditors: Amounts falling due within one year

5

(1,007)

(792)

Net current assets

 

6,116

2,121

Total assets less current liabilities

 

339,883

336,376

Creditors: Amounts falling due after more than one year

5

(340,361)

(343,961)

Net liabilities

 

(478)

(7,585)

Capital and reserves

 

Called up share capital

6

2

2

Retained earnings

(480)

(7,587)

Shareholders' deficit

 

(478)

(7,585)

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 15 August 2024 and signed on its behalf by:
 

.........................................
Mr S Sahota
Director

 

Hamilton Property & Investments Ltd

Statement of Changes in Equity for the Year Ended 30 November 2023

Share capital
£

Retained earnings
£

Total
£

At 1 December 2022

2

(7,587)

(7,585)

Profit for the year

-

7,107

7,107

At 30 November 2023

2

(480)

(478)

Share capital
£

Retained earnings
£

Total
£

Loss for the year

-

(7,587)

(7,587)

New share capital subscribed

2

-

2

At 30 November 2022

2

(7,587)

(7,585)

 

Hamilton Property & Investments Ltd

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.

The address of its registered office is:
24 Lindrosa Road
Sutton Coldfield
B74 3JZ

These financial statements were authorised for issue by the Board on 15 August 2024.

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.

Going concern

The company's balance sheet shows an adverse position at the year end.. The other creditors includes £131,031 which relates to loans received from a director. The director does not expect repayment until such time as the company has sufficient funds available to make the repayments without adversely affecting the company's ability to continue to trade. For this reason the directors believe that the company will continue to trade for the foreseeable future.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Hamilton Property & Investments Ltd

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

2

Accounting policies (continued)

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.

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

Freehold property

Nil

Plant and Machinery

15% Reducing balance

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.

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.

Borrowings

 

Hamilton Property & Investments Ltd

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

2

Accounting policies (continued)

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

4

Tangible assets

Land and buildings
£

Plant and machinery
£

Total
£

Cost or valuation

At 1 December 2022

331,000

3,829

334,829

At 30 November 2023

331,000

3,829

334,829

Depreciation

At 1 December 2022

-

574

574

Charge for the year

-

488

488

At 30 November 2023

-

1,062

1,062

Carrying amount

At 30 November 2023

331,000

2,767

333,767

At 30 November 2022

331,000

3,255

334,255

Included within the net book value of land and buildings above is £331,000 (2022 - £331,000) in respect of freehold land and buildings.
 

 

Hamilton Property & Investments Ltd

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

5

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

136

-

Accruals and deferred income

871

792

1,007

792

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

7

340,361

343,961

Creditors include mortgages which are secured on the properties £209,330 (2022 - £209,330).

6

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary Shares of £1 each

2

2

2

2

       

7

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Bank borrowings

209,330

209,330

Other borrowings

131,031

134,631

340,361

343,961