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REGISTERED NUMBER: 07441182 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

HAMMOND AUTOMOTIVE LIMITED

HAMMOND AUTOMOTIVE LIMITED (REGISTERED NUMBER: 07441182)






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


HAMMOND AUTOMOTIVE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: M D Hammond





REGISTERED OFFICE: Church Farm
Main Street
Willey
Warwickshire
CV23 0SH





REGISTERED NUMBER: 07441182 (England and Wales)





ACCOUNTANTS: AEH Accountancy Ltd
Church Farm
Main Street
Willey
Warwickshire
CV23 0SH

HAMMOND AUTOMOTIVE LIMITED (REGISTERED NUMBER: 07441182)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 66,672 86,147

CURRENT ASSETS
Debtors 5 88,590 67,866
Cash at bank 14,047 1,526
102,637 69,392
CREDITORS
Amounts falling due within one year 6 37,282 38,851
NET CURRENT ASSETS 65,355 30,541
TOTAL ASSETS LESS CURRENT
LIABILITIES

132,027

116,688

CREDITORS
Amounts falling due after more than one
year

7

(36,839

)

(49,335

)

PROVISIONS FOR LIABILITIES (12,668 ) (16,368 )
NET ASSETS 82,520 50,985

CAPITAL AND RESERVES
Called up share capital 8 2 2
Retained earnings 9 82,518 50,983
SHAREHOLDERS' FUNDS 82,520 50,985

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 director acknowledges his 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.

HAMMOND AUTOMOTIVE LIMITED (REGISTERED NUMBER: 07441182)

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 1 May 2024 and were signed by:





M D Hammond - Director


HAMMOND AUTOMOTIVE LIMITED (REGISTERED NUMBER: 07441182)

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

1. STATUTORY INFORMATION

Hammond Automotive Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 33% on reducing balance

Financial assets
Receivables are stated at amortised cost using the effective interest rate method. A provision for impairment of receivables is established where there is objective evidence that the company will not be able to collect all amounts due according to the original terms of payment. Receivables are considered for impairment on a case by case basis and any provision is based on the directors' assessment of the amount recoverable on each receivable.

Financial liabilities
The company's financial liabilities include trade and other payables, which are measured at amortised cost using the effective interest rate method. Financial liabilities are recognised when the company becomes a party to the contractual agreements of the instrument. Interest-related charges are recognised as an expense in the period in which they are incurred.

Cash and cash equivalents
Cash and cash equivalents includes cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less, and bank overdrafts.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


HAMMOND AUTOMOTIVE LIMITED (REGISTERED NUMBER: 07441182)

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

2. ACCOUNTING POLICIES - continued
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.

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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 7 (2022 - 7 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 January 2023
and 31 December 2023 192,200 1,796 82,653 276,649
DEPRECIATION
At 1 January 2023 123,264 1,213 66,025 190,502
Charge for year 13,787 146 5,542 19,475
At 31 December 2023 137,051 1,359 71,567 209,977
NET BOOK VALUE
At 31 December 2023 55,149 437 11,086 66,672
At 31 December 2022 68,936 583 16,628 86,147

HAMMOND AUTOMOTIVE LIMITED (REGISTERED NUMBER: 07441182)

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

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 January 2023
and 31 December 2023 82,653
DEPRECIATION
At 1 January 2023 55,650
Charge for year 5,542
At 31 December 2023 61,192
NET BOOK VALUE
At 31 December 2023 21,461
At 31 December 2022 27,003

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Directors' current accounts 88,590 67,866

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 3,415 3,102
Trade creditors 2,945 5,317
Tax 14,028 15,284
Social security and other taxes - 2,002
VAT 15,794 11,457
Other creditors - 589
Accrued expenses 1,100 1,100
37,282 38,851

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other loans - 1-2 years 25,833 34,913
Hire purchase contracts 11,006 14,422
36,839 49,335

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
200 Ordinary £1 2 2

HAMMOND AUTOMOTIVE LIMITED (REGISTERED NUMBER: 07441182)

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

9. RESERVES
Retained
earnings
£   

At 1 January 2023 50,983
Profit for the year 38,535
Dividends (7,000 )
At 31 December 2023 82,518

10. RELATED PARTY DISCLOSURES

As at the year ended 31 December 2023, there was a balance due from the director, M D Hammond, of £88,759 (2022 £67,866). This amount is included within other debtors on the balance sheet and was repaid within 9 months of the year end.

11. ULTIMATE CONTROLLING PARTY

The controlling party is M D Hammond.