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Harvey and Hamilton Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2024

Registration number: 11177136

 

Harvey and Hamilton Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Harvey and Hamilton Ltd

Company Information

Director

Mr Nicholas John Hamilton

Registered office

Nattadon Hill House
Chagford
Devon
TQ13 8BW

Accountants

Sally Wonnacott Ltd
Chartered Certified Accountant
Thornworthy Lodge
Chagford
Newton Abbot
Devon
TQ13 8EY

 

Harvey and Hamilton Ltd

(Registration number: 11177136)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

697

1,395

Current assets

 

Stocks

5

19,503

22,862

Debtors

6

4,899

1,044

Cash at bank and in hand

 

3,965

3,823

 

28,367

27,729

Creditors: Amounts falling due within one year

7

(107,468)

(100,246)

Net current liabilities

 

(79,101)

(72,517)

Net liabilities

 

(78,404)

(71,122)

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

(78,504)

(71,222)

Shareholders' deficit

 

(78,404)

(71,122)

For the financial year ending 31 January 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 members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 31 October 2024
 

.........................................
Mr Nicholas John Hamilton
Director

 

Harvey and Hamilton Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Nattadon Hill House
Chagford
Devon
TQ13 8BW

These financial statements were authorised for issue by the director on 31 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

Harvey and Hamilton Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Asset class

Depreciation method and rate

Office equipment

three years straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

Harvey and Hamilton Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 February 2023

3,242

3,242

At 31 January 2024

3,242

3,242

Depreciation

At 1 February 2023

1,847

1,847

Charge for the year

698

698

At 31 January 2024

2,545

2,545

Carrying amount

At 31 January 2024

697

697

At 31 January 2023

1,395

1,395

5

Stocks

2024
£

2023
£

Other inventories

19,503

22,862

6

Debtors

Current

2024
£

2023
£

Trade debtors

4,714

34

Prepayments

185

-

Other debtors

-

1,010

 

4,899

1,044

7

Creditors

Creditors: amounts falling due within one year

 

Harvey and Hamilton Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

2024
£

2023
£

Due within one year

Taxation and social security

1,499

-

Accruals and deferred income

650

600

Other creditors

105,319

99,646

107,468

100,246

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100