Hamilton Gas Products Limited
Registered number: NI053912
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 27,344 13,447
Tangible assets 4 257,762 308,361
285,106 321,808
Current assets
Stocks 1,654,060 1,826,321
Debtors 5 349,914 475,721
Cash at bank and in hand 226,304 432,926
2,230,278 2,734,968
Creditors: amounts falling due within one year 6 (1,223,580) (1,566,497)
Net current assets 1,006,698 1,168,471
Total assets less current liabilities 1,291,804 1,490,279
Provisions for liabilities (28,057) (77,091)
Net assets 1,263,747 1,413,188
Capital and reserves
Called up share capital 100 100
Profit and loss account 1,263,647 1,413,088
Shareholders' funds 1,263,747 1,413,188
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr A Hamilton
Director
Approved by the board on 16 April 2024
Hamilton Gas Products Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant, machinery and commercial vehicles over 5 to 10 years
Office equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 33 34
3 Intangible fixed assets £
Website costs:
Cost
At 1 January 2023 93,628
Additions 17,583
At 31 December 2023 111,211
Amortisation
At 1 January 2023 80,181
Provided during the year 3,686
At 31 December 2023 83,867
Net book value
At 31 December 2023 27,344
At 31 December 2022 13,447
Website costs are being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant, machinery and commercial vehicles Office equipment Total
£ £ £
Cost
At 1 January 2023 430,864 366,153 797,017
Additions 39,356 12,911 52,267
At 31 December 2023 470,220 379,064 849,284
Depreciation
At 1 January 2023 193,956 294,700 488,656
Charge for the year 72,094 30,772 102,866
At 31 December 2023 266,050 325,472 591,522
Net book value
At 31 December 2023 204,170 53,592 257,762
At 31 December 2022 236,908 71,453 308,361
5 Debtors 2023 2022
£ £
Trade debtors 267,073 364,825
Other debtors - 4,861
Prepayments and accrued income 82,841 106,035
349,914 475,721
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 695,810 1,033,832
Other taxes and social security costs 191,051 182,954
Other creditors 4,362 4,135
Accruals and deferred income 332,357 345,576
1,223,580 1,566,497
7 Other financial commitments 2023 2022
£ £
Total future minimum payments under non-cancellable operating leases are as follows
Within one year 90,000 90,000
Between one and five years 360,000 360,000
After five years 1,080,000 1,170,000
1,530,000 1,620,000
8 Contingent liabilities
The directors were not aware of any contingent liabilities at 31 December 2023.
9 Related party transactions
Purchase and sale of goods in the normal course of trade with Calor Group companies (see "Controlling party").
2023 2022
£ £
Sales 451,070 399,044
Amounts due from 33,244 13,243
Purchases 8,933 9,701
Amounts due to 1,573 31,982
10 Controlling party
The Hamilton family (Mr. A. Hamilton, Mrs. C. Horne and Mr. M. Hamilton) and Calor Teoranta are joint controlling parties by virtue of their interest in the equity of the company and the Joint Venture Agreement executed on 6 June 2012.

Calor Teoranta's immediate parent undertaking is SHV Energy (LPG) Holding B. V., a private company incorporated in The Netherlands

Calor Teoranta regards SHV Holdings N.V., a private company incorporated in the Netherlands as it's ultimate parent company and ultimate controlling party.

The largest group in which the results of the Company are consolidated is that headed by SHV Holdings N.V. Copies of the financial statements of SHV Holdings N.V. are available to the public and may be obtained from the company at SHV Holdings N.V. Rijnkade 13511, LC Utrecht, PO Box 2065, 3500GB Utrecht, The Netherlands.

The smallest group in which they are consolidated is that headed by SHV Energy N.V., a private company incorporated in The Netherlands. Copies of the financial statements of SHV Energy N.V. are available to the public and may be obtained from the company at SHV Energy N.V. Capellalaan 65, 2132 JL Hoofddorp, Netherlands.
11 Other information
Hamilton Gas Products Limited is a private company limited by shares and incorporated in Northern Ireland. Its registered office is:
7 Balloo Crescent
Bangor
Co. Down
BT19 7WP
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