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REGISTERED NUMBER: NI031779 (Northern Ireland)















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: Charles Hamilton
Ruth Hamilton





REGISTERED OFFICE: 12-14 Lower Strabane Rd
Castlederg
Co. Tyrone
BT81 7AZ





REGISTERED NUMBER: NI031779 (Northern Ireland)





ACCOUNTANTS: CavanaghKelly Chartered 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 68,562 74,281
Property, plant and equipment 6 2,596,402 2,826,004
2,664,964 2,900,285

CURRENT ASSETS
Inventories 290,718 189,125
Receivables: amounts falling due within
one year

7

670,071

1,244,167
Cash at bank and in hand 519,219 565,080
1,480,008 1,998,372
PAYABLES
Amounts falling due within one year 8 (710,928 ) (1,018,730 )
NET CURRENT ASSETS 769,080 979,642
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,434,044

3,879,927

PAYABLES
Amounts falling due after more than
one year

9

(1,818,855

)

(1,857,703

)

PROVISIONS FOR LIABILITIES - (9,879 )
NET ASSETS 1,615,189 2,012,345

CAPITAL AND RESERVES
Called up share capital 10 31,912 31,912
Retained earnings 1,583,277 1,980,433
SHAREHOLDERS' FUNDS 1,615,189 2,012,345

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the Company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

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 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 Board of Directors and authorised for issue on 8 January 2025 and were signed on its behalf by:




Charles Hamilton - Director



Ruth Hamilton - Director


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 private company, limited by shares , registered in Northern Ireland. 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

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.

Off Licence are being amortised evenly over their estimated useful life of twenty five years.

Property, plant and equipment
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 4% straight line
Fixtures and fittings - 20% reducing balance
Motor vehicles - 25% reducing balance

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 75 (2023 - 72 ) .

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 142,973
AMORTISATION
At 1 May 2023 68,692
Amortisation for year 5,719
At 30 April 2024 74,411
NET BOOK VALUE
At 30 April 2024 68,562
At 30 April 2023 74,281

6. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Freehold and Motor
property fittings vehicles Totals
£ £ £ £
COST
At 1 May 2023 2,974,809 2,159,937 46,780 5,181,526
Additions 36,125 46,807 - 82,932
At 30 April 2024 3,010,934 2,206,744 46,780 5,264,458
DEPRECIATION
At 1 May 2023 877,638 1,432,724 45,160 2,355,522
Charge for year 126,261 185,868 405 312,534
At 30 April 2024 1,003,899 1,618,592 45,565 2,668,056
NET BOOK VALUE
At 30 April 2024 2,007,035 588,152 1,215 2,596,402
At 30 April 2023 2,097,171 727,213 1,620 2,826,004

7. RECEIVABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade receivables 207,954 817,954
Amounts owed by connected parties 450,294 423,259
Other receivables 11,823 2,954
670,071 1,244,167

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 294,024 496,038
Hire purchase contracts 10,000 10,000
Trade payables 329,004 427,217
Taxation and social security 42,256 56,291
Other payables 35,644 29,184
710,928 1,018,730

9. PAYABLES: AMOUNTS FALLING DUE AFTER ONE YEAR
2024 2023
£ £
Bank loans 1,815,522 1,844,370
Hire purchase contracts 3,333 13,333
1,818,855 1,857,703

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
31,912 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.