REGISTERED NUMBER: |
HAMILTON'S FOODHALLS LTD |
Unaudited Financial Statements for the Year Ended 30 April 2024 |
REGISTERED NUMBER: |
HAMILTON'S FOODHALLS LTD |
Unaudited Financial Statements for the Year Ended 30 April 2024 |
HAMILTON'S FOODHALLS LTD (REGISTERED NUMBER: NI031779) |
Contents of the Financial Statements |
FOR THE YEAR ENDED 30 APRIL 2024 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
HAMILTON'S FOODHALLS LTD |
Company Information |
FOR THE YEAR ENDED 30 APRIL 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
43 Dublin Road |
Omagh |
Co. Tyrone |
BT78 1HE |
HAMILTON'S FOODHALLS LTD (REGISTERED NUMBER: NI031779) |
Statement of Financial Position |
30 APRIL 2024 |
2024 | 2023 |
Notes | £ | £ |
NON-CURRENT ASSETS |
Intangible assets | 5 |
Property, plant and equipment | 6 |
CURRENT ASSETS |
Inventories |
Receivables: amounts falling due within one year |
7 |
Cash at bank and in hand |
PAYABLES |
Amounts falling due within one year | 8 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PAYABLES |
Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 10 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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'S FOODHALLS LTD (REGISTERED NUMBER: NI031779) |
Statement of Financial Position - continued |
30 APRIL 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
HAMILTON'S FOODHALLS LTD (REGISTERED NUMBER: NI031779) |
Notes to the Financial Statements |
FOR THE YEAR ENDED 30 APRIL 2024 |
1. | STATUTORY INFORMATION |
Hamilton's Foodhalls Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. |
Historical cost is generally based on the fair value of the consideration given in exchange for assets. The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements. |
The preparation of the financial statements in compliance with FRS 102 requires the use of certain |
critical accounting estimates. It also requires management to exercise judgement in applying the |
company accounting policies. No critical judgements or critical accounting estimates have been |
applied to these financial statements. |
Revenue |
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Revenue is recognised to the extent that is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must be met before revenue is recognised: |
- the company has transferred the significant risks and rewards of ownership to the buyer; |
- the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; |
- the amount of revenue can be measured reliably; |
- it is probable that the company will receive the consideration due under the transaction; and |
- the costs incurred or to be incurred in respect of the transaction can be measured reliably. |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Property, plant and equipment |
Freehold property | - |
Fixtures and fittings | - |
Motor vehicles | - |
HAMILTON'S FOODHALLS LTD (REGISTERED NUMBER: NI031779) |
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 30 APRIL 2024 |
3. | ACCOUNTING POLICIES - continued |
Inventories |
Inventories are valued at the lower of cost and net realisable value. Cost comprises expenditure incurred in the normal course of business in bringing inventories to their present location and condition. Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling. |
Financial instruments |
he company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments. |
(i) Financial assets |
Basic financial assets, including trade and other receivables, cash and bank balances and amounts owed by related parties and are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method. |
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss. |
If there is decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss. |
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions. |
(ii) Financial liabilities |
Basic financial liabilities, including trade and other payables, bank loans and overdrafts and amounts owed to related parties are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Fees paid on the establishment of loan facilities are recognised as transaction costs of the loan to the extent that it is probable that some or all of the facility will be drawn down. In this case, the fee is deferred until the draw-down occurs. To the extent there is no evidence that it is probable that some or all of the facility will be drawn down, the fee is capitalised as a pre-payment for liquidity services and amortised over the period of the facility to which it relates. |
Trade payables 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 payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. |
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires. |
(iii) Offsetting |
Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
HAMILTON'S FOODHALLS LTD (REGISTERED NUMBER: NI031779) |
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 30 APRIL 2024 |
3. | ACCOUNTING POLICIES - continued |
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 tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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. |
Share capital |
Ordinary Shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares are shown in equity as a deduction, net of tax, from the proceeds. |
Government grants |
Capital grants received and receivable are treated as deferred income and amortised to the Income Statement annually over the useful economic life of the asset to which it relates. Revenue grants are credited to the Income Statement when received. |
Cash and cash equivalents |
Cash and cash equivalents includes cash in hand and deposits held at call with banks. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
HAMILTON'S FOODHALLS LTD (REGISTERED NUMBER: NI031779) |
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 30 APRIL 2024 |
5. | INTANGIBLE FIXED ASSETS |
Off Licence |
£ |
COST |
At 1 May 2023 |
and 30 April 2024 |
AMORTISATION |
At 1 May 2023 |
Amortisation for year |
At 30 April 2024 |
NET BOOK VALUE |
At 30 April 2024 |
At 30 April 2023 |
6. | PROPERTY, PLANT AND EQUIPMENT |
Fixtures |
Freehold | and | Motor |
property | fittings | vehicles | Totals |
£ | £ | £ | £ |
COST |
At 1 May 2023 |
Additions |
At 30 April 2024 |
DEPRECIATION |
At 1 May 2023 |
Charge for year |
At 30 April 2024 |
NET BOOK VALUE |
At 30 April 2024 |
At 30 April 2023 |
7. | RECEIVABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade receivables |
Amounts owed by connected parties |
Other receivables |
Amounts owed by connected parties are unsecured, interest free and repayable on demand. |
HAMILTON'S FOODHALLS LTD (REGISTERED NUMBER: NI031779) |
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 30 APRIL 2024 |
8. | PAYABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Hire purchase contracts |
Trade payables |
Taxation and social security |
Other payables |
9. | PAYABLES: AMOUNTS FALLING DUE AFTER ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans |
Hire purchase contracts |
10. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
ORD | 1 | 31,912 | 31,912 |
11. | RELATED PARTY DISCLOSURES |
The directors of Hamilton's Foodhalls Limited are also partners in C & R Hamilton an unincorporated partnership. The company has advanced funds to C & R Hamilton. At 30 April 2024 the balance owed to the company was £97,138. |
The directors of Hamilton's Foodhalls Limited are also directors in Tamlaght Spar Limited. The company has advanced funds to Tamlaght Spar Limited. At 30 April 2024 the balance owed to the company was £348,665. |
The directors of Hamilton's Foodhalls Limited are also directors in C & R Hamilton Limited. The company has advanced funds to C & R Hamilton Limited. At 30 April 2024 the balance owed by the company was £127,087. |
The directors of Hamilton's Foodhalls Limited are also directors in Derg Castle Trading Limited. The company has advanced funds to Derg Castle Trading Limited. At 30 April 2024 the balance owed to the company was £131,578. |