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Company No: 11361358 (England and Wales)

HAMILTON RILEY LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

HAMILTON RILEY LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

HAMILTON RILEY LIMITED

BALANCE SHEET

As at 31 March 2024
HAMILTON RILEY LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 315,115 240,453
315,115 240,453
Current assets
Debtors 4 137,739 159,174
Cash at bank and in hand 132,093 122,510
269,832 281,684
Creditors: amounts falling due within one year 5 ( 129,204) ( 183,767)
Net current assets 140,628 97,917
Total assets less current liabilities 455,743 338,370
Creditors: amounts falling due after more than one year 6 ( 105,273) ( 59,275)
Provision for liabilities ( 67,934) ( 48,601)
Net assets 282,536 230,494
Capital and reserves
Called-up share capital 1 1
Profit and loss account 282,535 230,493
Total shareholder's funds 282,536 230,494

For the financial year ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Hamilton Riley Limited (registered number: 11361358) were approved and authorised for issue by the Director. They were signed on its behalf by:

Julie Hamilton
Director

08 August 2024

HAMILTON RILEY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
HAMILTON RILEY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Hamilton Riley Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 65 Allison Bank Geoffrey Watling Way, Norwich, NR1 1GW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery 15 % reducing balance
Vehicles 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Income Statement as described below.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 8 5

3. Tangible assets

Plant and machinery Vehicles Total
£ £ £
Cost
At 01 April 2023 226,156 119,815 345,971
Additions 132,290 0 132,290
At 31 March 2024 358,446 119,815 478,261
Accumulated depreciation
At 01 April 2023 65,939 39,579 105,518
Charge for the financial year 37,569 20,059 57,628
At 31 March 2024 103,508 59,638 163,146
Net book value
At 31 March 2024 254,938 60,177 315,115
At 31 March 2023 160,217 80,236 240,453

4. Debtors

2024 2023
£ £
Trade debtors 129,519 151,167
Prepayments 5,170 6,126
Other debtors 3,050 1,881
137,739 159,174

5. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 9,402 9,070
Trade creditors 5,546 35,039
Amounts owed to director 3,332 3,020
Accruals 1,274 1,124
Taxation and social security 76,062 82,042
Obligations under finance leases and hire purchase contracts 31,305 47,610
Other creditors 2,283 5,862
129,204 183,767

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 13,098 23,430
Obligations under finance leases and hire purchase contracts (secured) 92,175 35,845
105,273 59,275

The higher purchase contracts are secured against the assets of the Company to which they relate with a carrying value of £262,478 (2023: £214,301).

7. Financial commitments

Pensions

The Company operates a defined contribution pension scheme for the director and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.

2024 2023
£ £
Unpaid contributions due to the fund (inc. in other creditors) 716 663