Company registration number 03201059 (England and Wales)
HAMILTONS GROUP LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
HAMILTONS GROUP LIMITED
CONTENTS
Page
Statement of financial position
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 10
HAMILTONS GROUP LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
5
-
0
3,710
Investments
6
-
0
4
-
0
3,714
Current assets
Stocks
7
55,425
97,706
Debtors
8
1,836,360
312,710
Cash at bank and in hand
47,799
625,085
1,939,584
1,035,501
Creditors: amounts falling due within one year
9
(61,800)
(285,463)
Net current assets
1,877,784
750,038
Total assets less current liabilities
1,877,784
753,752
Creditors: amounts falling due after more than one year
10
-
0
(22,500)
Net assets
1,877,784
731,252
Capital and reserves
Called up share capital
12
1,100
1,100
Capital redemption reserve
5,400
5,400
Profit and loss reserves
1,871,284
724,752
Total equity
1,877,784
731,252
HAMILTONS GROUP LIMITED
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024
31 March 2024
- 2 -

For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 3 December 2024 and are signed on its behalf by:
Mrs S Bowdler
Director
Company registration number 03201059 (England and Wales)
HAMILTONS GROUP LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
Share capital
Capital redemption reserve
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 January 2022
1,100
5,400
470,707
477,207
Period ended 31 March 2023:
Profit and total comprehensive income
-
-
426,545
426,545
Dividends
-
-
(172,500)
(172,500)
Balance at 31 March 2023
1,100
5,400
724,752
731,252
Year ended 31 March 2024:
Profit and total comprehensive income
-
-
1,194,694
1,194,694
Dividends
-
-
(48,162)
(48,162)
Balance at 31 March 2024
1,100
5,400
1,871,284
1,877,784
HAMILTONS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
1
Accounting policies
Company information

Hamiltons Group Limited is a private company limited by shares incorporated in England and Wales. The registered office is West Point, Second Floor, Mucklow Office Park, Mucklow Hill, Halesowen, West Midlands, England, B62 8DY.

1.1
Reporting period

The accounts have been prepared for an extended 15 month period to 31st March 2023, as such the comparative reporting in not entirely comparable.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.3
Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.4
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

1.5
Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 1998, is being amortised

evenly over its estimated useful life of twenty years.

1.6
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
15% on cost
HAMILTONS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 5 -

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.7
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.8
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

1.9
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.10
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

HAMILTONS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 6 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.11
Leases

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

lease.

1.12
Government grants
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
2
20
HAMILTONS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 7 -
4
Intangible fixed assets
Goodwill
£
Cost
At 1 April 2023
1,437,316
Disposals
(1,437,316)
At 31 March 2024
-
0
Amortisation and impairment
At 1 April 2023
1,437,316
Disposals
(1,437,316)
At 31 March 2024
-
0
Carrying amount
At 31 March 2024
-
0
At 31 March 2023
-
0
5
Tangible fixed assets
Fixtures and fittings
£
Cost
At 1 April 2023 and 31 March 2024
33,327
Depreciation and impairment
At 1 April 2023
29,617
Depreciation charged in the year
3,710
At 31 March 2024
33,327
Carrying amount
At 31 March 2024
-
0
At 31 March 2023
3,710
6
Fixed asset investments
2024
2023
£
£
Shares in group undertakings
-
0
4
HAMILTONS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
6
Fixed asset investments
(Continued)
- 8 -
Movements in fixed asset investments
Investments
£
Cost or valuation
At 1 April 2023
4
Disposals
(4)
At 31 March 2024
-
Carrying amount
At 31 March 2024
-
At 31 March 2023
4
7
Stocks
2024
2023
£
£
Work in progress
55,425
97,382
Finished goods and goods for resale
-
0
324
55,425
97,706
8
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
18,551
293,107
Corporation tax recoverable
16,271
-
0
Other debtors
1,790,125
3,183
Prepayments and accrued income
11,413
16,420
1,836,360
312,710
HAMILTONS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 9 -
9
Creditors: amounts falling due within one year
2024
2023
Notes
£
£
Bank loans
11
-
0
10,000
Trade creditors
-
0
34,885
Amounts owed to group undertakings
-
0
4
Corporation tax
-
0
101,889
Other taxation and social security
3,147
118,738
Other creditors
13,420
13,949
Accruals and deferred income
45,233
5,998
61,800
285,463
10
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Bank loans and overdrafts
11
-
0
22,500
11
Loans and overdrafts
2024
2023
£
£
Bank loans
-
0
32,500
Payable within one year
-
0
10,000
Payable after one year
-
0
22,500

The long-term loans are secured by fixed charges over the company and its assets.

12
Share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
HAMILTONS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
12
Share capital
(Continued)
- 10 -
2024
2023
2024
2023
Preference share capital
Number
Number
£
£
Issued and fully paid
Preference shares of £1 each
1,000
1,000
1,000
1,000
Preference shares classified as equity
1,000
1,000
Total equity share capital
1,100
1,100
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