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Registration number: SC280580

Hamly Hill Limited

Unaudited Filleted Financial Statements

for the Period from 1 June 2023 to 31 March 2024

 

Hamly Hill Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Hamly Hill Limited

Company Information

Directors

Mrs Elizabeth Bown

Mr Anthony Bown

Miss Hannah Patricia Bown

Company secretary

Mrs Elizabeth Bown

Registered office

C/O Gray Associates
Ridgeways
Back Road
Stromness
Orkney
KW16 3DS

Accountants

Gray Associates
Ridgeways
Back Road
Stromness
Orkney
KW16 3DS

 

Hamly Hill Limited

(Registration number: SC280580)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

69,915

77,050

Current assets

 

Debtors

5

920,228

755,959

Cash at bank and in hand

 

658

36,873

 

920,886

792,832

Creditors: Amounts falling due within one year

6

(47,120)

(28,845)

Net current assets

 

873,766

763,987

Total assets less current liabilities

 

943,681

841,037

Provisions for liabilities

(15,640)

(17,100)

Net assets

 

928,041

823,937

Capital and reserves

 

Called up share capital

7

8

8

Retained earnings

928,033

823,929

Shareholders' funds

 

928,041

823,937

For the financial period ending 31 March 2024 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 period 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:
 

.........................................
Mrs Elizabeth Bown
Company secretary and director

 

Hamly Hill Limited

Notes to the Unaudited Financial Statements for the Period from 1 June 2023 to 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
C/O Gray Associates
Ridgeways
Back Road
Stromness
Orkney
KW16 3DS

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 financial statements have been prepared on a going concern basis.

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.

Tax

The tax expense for the period comprises current and deferred 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.

 

Hamly Hill Limited

Notes to the Unaudited Financial Statements for the Period from 1 June 2023 to 31 March 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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

Plant and machinery

Straight line - 5%

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 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.

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.

 

Hamly Hill Limited

Notes to the Unaudited Financial Statements for the Period from 1 June 2023 to 31 March 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 3 (2023 - 3).

4

Tangible assets

Other tangible assets
£

Total
£

Cost or valuation

At 1 June 2023

171,222

171,222

At 31 March 2024

171,222

171,222

Depreciation

At 1 June 2023

94,172

94,172

Charge for the period

7,135

7,135

At 31 March 2024

101,307

101,307

Carrying amount

At 31 March 2024

69,915

69,915

At 31 May 2023

77,050

77,050

5

Debtors

Current

2024
£

2023
£

Other debtors

920,228

755,959

 

920,228

755,959

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

46,017

27,742

Accruals and deferred income

1,103

1,103

47,120

28,845

 

Hamly Hill Limited

Notes to the Unaudited Financial Statements for the Period from 1 June 2023 to 31 March 2024

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

A ordinary shares of £1 each

4

4

4

4

B ordinary shares of £1 each

4

4

4

4

8

8

8

8