0 false false false false false false false false false false true false false false false false false No description of principal activity 2022-12-01 Sage Accounts Production Advanced 2023 - FRS102_2023 152,800 152,800 152,800 xbrli:pure xbrli:shares iso4217:GBP SC436530 2022-12-01 2023-11-30 SC436530 2023-11-30 SC436530 2022-11-30 SC436530 2021-12-01 2022-11-30 SC436530 2022-11-30 SC436530 2021-11-30 SC436530 core:PlantMachinery 2022-12-01 2023-11-30 SC436530 bus:Director1 2022-12-01 2023-11-30 SC436530 core:PlantMachinery 2022-11-30 SC436530 core:LandBuildings core:ShortLeaseholdAssets 2023-11-30 SC436530 core:PlantMachinery 2023-11-30 SC436530 core:FurnitureFittings 2023-11-30 SC436530 core:LandBuildings core:ShortLeaseholdAssets 2022-12-01 2023-11-30 SC436530 core:FurnitureFittings 2022-12-01 2023-11-30 SC436530 core:WithinOneYear 2023-11-30 SC436530 core:WithinOneYear 2022-11-30 SC436530 core:ShareCapital 2023-11-30 SC436530 core:ShareCapital 2022-11-30 SC436530 core:RetainedEarningsAccumulatedLosses 2023-11-30 SC436530 core:RetainedEarningsAccumulatedLosses 2022-11-30 SC436530 core:BetweenOneFiveYears 2023-11-30 SC436530 core:BetweenOneFiveYears 2022-11-30 SC436530 core:MoreThanFiveYears 2023-11-30 SC436530 core:MoreThanFiveYears 2022-11-30 SC436530 core:PlantMachinery 2022-11-30 SC436530 bus:SmallEntities 2022-12-01 2023-11-30 SC436530 bus:AuditExemptWithAccountantsReport 2022-12-01 2023-11-30 SC436530 bus:SmallCompaniesRegimeForAccounts 2022-12-01 2023-11-30 SC436530 bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 SC436530 bus:FullAccounts 2022-12-01 2023-11-30 SC436530 core:OtherResidualIntangibleAssets 2022-12-01 2023-11-30 SC436530 core:OtherResidualIntangibleAssets 2023-11-30
COMPANY REGISTRATION NUMBER: SC436530
Hamilton of Drem Limited
Filleted Unaudited Financial Statements
For the year ended
30 November 2023
Hamilton of Drem Limited
Statement of Financial Position
30 November 2023
2023
2022
Note
£
£
Fixed assets
Intangible assets
5
152,800
Tangible assets
6
216,764
52,183
---------
--------
369,564
52,183
Current assets
Debtors
8
48,253
176,642
Cash at bank and in hand
22,642
14,968
--------
---------
70,895
191,610
Creditors: amounts falling due within one year
9
264,688
35,316
---------
---------
Net current (liabilities)/assets
( 193,793)
156,294
---------
---------
Total assets less current liabilities
175,771
208,477
Provisions
9,632
13,046
---------
---------
Net assets
166,139
195,431
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
166,039
195,331
---------
---------
Shareholders funds
166,139
195,431
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 2 October 2024 , and are signed on behalf of the board by:
J H Hamilton
Director
Company registration number: SC436530
Hamilton of Drem Limited
Notes to the Financial Statements
Year ended 30 November 2023
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is West Fortune, Drem, North Berwick, East Lothian, EH39 5LL.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity. Going concern The financial statements have been prepared on a going concern basis. The directors have assessed the Company's ability to continue as a going concern and have reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements. Consolidation The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group. Revenue recognition Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. The company recognises revenue when the amount of revenue can be measured reliably and when it is probable the future economic benefits will flow to the entity. Income tax The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Operating leases Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis. Intangible assets Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably. Tangible assets Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Depreciation Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - 10% straight line
Impairment of fixed assets A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial assets, which include trade and other debtors and cash, are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Basic financial liabilities, which include trade and other creditors, are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. At each reporting date the company assesses whether there is objective evidence that any financial asset has been impaired. A provision for impairment is established when there is objective evidence that the company will not be able to collect all amounts due. The amount of the provision is recognised immediately in profit or loss.
4. Employee numbers
The average number of persons employed by the company during the year amounted to nil (2021: nil).
5. Intangible assets
Lease
£
Cost
Additions
152,800
---------
At 30 November 2023
152,800
---------
Amortisation
At 1 December 2022 and 30 November 2023
---------
Carrying amount
At 30 November 2023
152,800
---------
At 30 November 2022
---------
6. Tangible assets
Short leasehold property
Plant and machinery
Fixtures and fittings
Total
£
£
£
£
Cost
At 1 December 2022
62,000
62,000
Additions
75,397
74,979
20,405
170,781
--------
---------
--------
---------
At 30 November 2023
75,397
136,979
20,405
232,781
--------
---------
--------
---------
Depreciation
At 1 December 2022
9,817
9,817
Charge for the year
6,200
6,200
--------
---------
--------
---------
At 30 November 2023
16,017
16,017
--------
---------
--------
---------
Carrying amount
At 30 November 2023
75,397
120,962
20,405
216,764
--------
---------
--------
---------
At 30 November 2022
52,183
52,183
--------
---------
--------
---------
7. Investments
In November 2023, the company acquired 100% of the share capital of SB Quarry (Airdrie) Ltd, a company incorporated in Scotland. No consideration was paid for these shares.
8. Debtors
2023
2022
£
£
Trade debtors
4,752
996
Other debtors
43,501
175,646
--------
---------
48,253
176,642
--------
---------
9. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
422
7,467
Corporation tax
15,829
Other creditors
264,266
12,020
---------
--------
264,688
35,316
---------
--------
10. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2023
2022
£
£
Not later than 1 year
4,000
4,000
Later than 1 year and not later than 5 years
20,000
20,000
Later than 5 years
4,000
8,000
--------
--------
28,000
32,000
--------
--------