Acorah Software Products - Accounts Production 15.0.600 false true false 1 October 2022 30 September 2023 30 September 2023 NI691178 Mrs Kimberley Hamilton Mr Daniel Hamilton iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure NI691178 2022-09-30 NI691178 2023-09-30 NI691178 2022-10-01 2023-09-30 NI691178 frs-core:FurnitureFittings 2022-10-01 2023-09-30 NI691178 frs-core:MotorVehicles 2022-10-01 2023-09-30 NI691178 frs-core:PlantMachinery 2022-10-01 2023-09-30 NI691178 frs-core:WithinOneYear 2023-09-30 NI691178 frs-core:ShareCapital 2023-09-30 NI691178 frs-core:RetainedEarningsAccumulatedLosses 2023-09-30 NI691178 frs-bus:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 NI691178 frs-bus:AbridgedAccounts 2022-10-01 2023-09-30 NI691178 frs-bus:SmallEntities 2022-10-01 2023-09-30 NI691178 frs-bus:AuditExempt-NoAccountantsReport 2022-10-01 2023-09-30 NI691178 frs-bus:SmallCompaniesRegimeForAccounts 2022-10-01 2023-09-30 NI691178 frs-bus:Director1 2022-10-01 2023-09-30 NI691178 frs-bus:Director2 2022-10-01 2023-09-30 NI691178 frs-countries:NorthernIreland 2022-10-01 2023-09-30
Registered number: NI691178
Hamilton Imports Ltd
Unaudited ABRIDGED Financial Statements
For The Year Ended 30 September 2023
PMB Accountants Limited
7 The Square
Comber
Newtownards
BT23 5DX
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—4
Page 1
Abridged Balance Sheet
Registered number: NI691178
2023
Notes £ £
FIXED ASSETS
Tangible Assets 4 29,579
29,579
CURRENT ASSETS
Stocks 1,006,842
Debtors 759,322
Cash at bank and in hand 1,914
1,768,078
Creditors: Amounts Falling Due Within One Year (1,662,240 )
NET CURRENT ASSETS (LIABILITIES) 105,838
TOTAL ASSETS LESS CURRENT LIABILITIES 135,417
NET ASSETS 135,417
CAPITAL AND RESERVES
Called up share capital 6 2
Profit and Loss Account 135,415
SHAREHOLDERS' FUNDS 135,417
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Page 2
For the year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 30 September 2023 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr Daniel Hamilton
Director
10/09/2024
The notes on pages 3 to 4 form part of these financial statements.
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Notes to the Abridged Financial Statements
1. General Information
Hamilton Imports Ltd is a private company, limited by shares, incorporated in Northern Ireland, registered number NI691178 . The registered office is 7 The Square, Comber, BT23 5DX.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% Straight line
Motor Vehicles 20% Straight Line
Fixtures & Fittings 20% Straight Line
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 6
6
4. Tangible Assets
Total
£
Cost
As at 1 October 2022 -
Additions 36,974
As at 30 September 2023 36,974
Depreciation
As at 1 October 2022 -
Provided during the period 7,395
As at 30 September 2023 7,395
Net Book Value
As at 30 September 2023 29,579
As at 1 October 2022 -
5. Obligations Under Finance Leases and Hire Purchase
2023
£
The future minimum finance lease payments are as follows:
Not later than one year 15,623
6. Share Capital
2023
£
Allotted, Called up and fully paid 2
7. Related Party Transactions
At the year end date Included within other debtors is an amount for £173,616 which is money owning from close family members of Daniel and Kimberly Hamilton. 
The loan is interest free and payable on demand. 
At the year end date the directors loan account was a credit balance of £850,577 due to Daniel and Kimberly Hamilton. This directors loan is provided interest free and is repayable on demand. 
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