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HAMILTON (BUILDING CONTRACTORS) LTD.

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






HAMILTON (BUILDING CONTRACTORS) LTD. (REGISTERED NUMBER: 03297091)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HAMILTON (BUILDING CONTRACTORS) LTD.

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: R T Storton
D Mackie
Mrs M Storton





REGISTERED OFFICE: 7A Sapper Jordan Rossi Park
BAILDON
West Yorkshire
BD17 7AX





REGISTERED NUMBER: 03297091 (England and Wales)





ACCOUNTANTS: Wilkinson and Partners
Chartered Accountants
Fairfax House
6a Mill Field Road
Cottingley Business Park
Bradford
West Yorkshire
BD16 1PY

HAMILTON (BUILDING CONTRACTORS) LTD. (REGISTERED NUMBER: 03297091)

BALANCE SHEET
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 771,753 664,282

CURRENT ASSETS
Stocks 253,226 235,769
Debtors 5 2,151,623 2,159,567
Cash at bank 977,671 2,027,034
3,382,520 4,422,370
CREDITORS
Amounts falling due within one year 6 1,456,159 3,238,490
NET CURRENT ASSETS 1,926,361 1,183,880
TOTAL ASSETS LESS CURRENT LIABILITIES 2,698,114 1,848,162

CREDITORS
Amounts falling due after more than one
year

7

(164,273

)

(286,808

)

PROVISIONS FOR LIABILITIES 10 (121,366 ) -
NET ASSETS 2,412,475 1,561,354

CAPITAL AND RESERVES
Called up share capital 11 1 1
Capital redemption reserve 12 1 1
Retained earnings 12 2,412,473 1,561,352
SHAREHOLDERS' FUNDS 2,412,475 1,561,354

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

HAMILTON (BUILDING CONTRACTORS) LTD. (REGISTERED NUMBER: 03297091)

BALANCE SHEET - continued
31 DECEMBER 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 July 2024 and were signed on its behalf by:





R T Storton - Director


HAMILTON (BUILDING CONTRACTORS) LTD. (REGISTERED NUMBER: 03297091)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Hamilton (Building Contractors) Ltd. is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 10% on cost
Office equipment & furniture - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

HAMILTON (BUILDING CONTRACTORS) LTD. (REGISTERED NUMBER: 03297091)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 31 (2022 - 27 ) .

4. TANGIBLE FIXED ASSETS
Improvements Office
to equipment Motor
property & furniture vehicles Totals
£    £    £    £   
COST
At 1 January 2023 92,822 163,984 898,563 1,155,369
Additions - 18,059 452,481 470,540
Disposals - - (247,804 ) (247,804 )
At 31 December 2023 92,822 182,043 1,103,240 1,378,105
DEPRECIATION
At 1 January 2023 18,560 103,705 368,822 491,087
Charge for year 9,280 11,751 213,401 234,432
Eliminated on disposal - - (119,167 ) (119,167 )
At 31 December 2023 27,840 115,456 463,056 606,352
NET BOOK VALUE
At 31 December 2023 64,982 66,587 640,184 771,753
At 31 December 2022 74,262 60,279 529,741 664,282

The net book value of tangible fixed assets includes £ 401,052 (2022 - £ 444,685 ) in respect of assets held under hire purchase contracts.

HAMILTON (BUILDING CONTRACTORS) LTD. (REGISTERED NUMBER: 03297091)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 1,887,376 2,060,154
Other debtors 11,246 13,934
VAT 100,968 63,386
Prepayments 152,033 22,093
2,151,623 2,159,567

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts - 62,829
Hire purchase contracts (see note 8) 166,004 151,777
Trade creditors 139,685 2,172,609
Tax 348,813 -
Social security and other taxes 219,637 113,626
Other creditors - 432,385
Directors' current accounts 532,350 254,514
Accruals & sundry creditors 49,670 50,750
1,456,159 3,238,490

The loans from directors are interest free and repayable on demand.

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans - 1-2 years - 62,829
Bank loans - 2-5 years - 49,616
Hire purchase contracts (see note 8) 164,273 174,363
164,273 286,808

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.12.23 31.12.22
£    £   
Net obligations repayable:
Within one year 166,004 151,777
Between one and five years 164,273 174,363
330,277 326,140

HAMILTON (BUILDING CONTRACTORS) LTD. (REGISTERED NUMBER: 03297091)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


8. LEASING AGREEMENTS - continued

Non-cancellable operating leases
31.12.23 31.12.22
£    £   
Within one year - 26,000
Between one and five years - 130,000
In more than five years - 45,500
- 201,500

9. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Hire purchase contracts 330,277 326,140

The hire purchase debt is secured by a charge over the assets which are the subject of the agreement.

10. PROVISIONS FOR LIABILITIES
31.12.23 31.12.22
£    £   
Deferred tax 121,366 -

Deferred
tax
£   
Accelerated capital allowances 121,366
Balance at 31 December 2023 121,366

The entire provision for deferred taxation is in respect of accelerated capital allowances.

HAMILTON (BUILDING CONTRACTORS) LTD. (REGISTERED NUMBER: 03297091)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


11. CALLED UP SHARE CAPITAL

Allotted, issued and fully
paid:


Number: Class: Nominal value: 31.12.23 31.12.22
£    £   

57 Ordinary A 1p 0.57 0.57
10 Ordinary B 1p 0.20 0.10
33 Ordinary C 1p 0.23 0.33
1.00 1.00


12. RESERVES
Capital
Retained redemption
earnings reserve Totals
£    £    £   

At 1 January 2023 1,561,352 1 1,561,353
Profit for the year 1,601,121 1,601,121
Dividends (750,000 ) (750,000 )
At 31 December 2023 2,412,473 1 2,412,474

13. RELATED PARTY DISCLOSURES

JNR Contracting Limited - a company in which Mr R Storton is a director and
shareholder.

Sales made during the period £37,758 (2022: £39,645)
Purchases made during the period £201,433 (2022: £5,663)
Debtor at 31 December 2023 £12,562 (2022: £Nil)
Creditor at 31 December 2023 £Nil (2022: £Nil)

All transactions were made on normal commercial terms.

14. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is R T Storton.