Company registration number 07836296 (England and Wales)
HAMAX LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
PAGES FOR FILING WITH REGISTRAR
HAMAX LTD
COMPANY INFORMATION
Directors
Mr M R Hamer
Mrs A J Hamer
Company number
07836296
Registered office
Suite 5b Malvern Gate
Bromwich Road
Worcester
WR2 4BN
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
HSBC Bank Plc
6 Broad Street
Worcester
Worcestershire
WR1 3LH
HAMAX LTD
CONTENTS
Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3 - 6
HAMAX LTD
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF HAMAX LTD FOR THE YEAR ENDED 30 APRIL 2024
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Hamax Ltd for the year ended 30 April 2024 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the board of directors of Hamax Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Hamax Ltd and state those matters that we have agreed to state to the board of directors of Hamax Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Hamax Ltd and its board of directors as a body, for our work or for this report.

It is your duty to ensure that Hamax Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Hamax Ltd. You consider that Hamax Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Hamax Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Ormerod Rutter Limited
29 January 2025
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
HAMAX LTD
BALANCE SHEET
AS AT
30 APRIL 2024
30 April 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
30,408
36,299
Current assets
Debtors
5
499,609
380,850
Cash at bank and in hand
11,662
65,741
511,271
446,591
Creditors: amounts falling due within one year
6
(451,274)
(405,462)
Net current assets
59,997
41,129
Total assets less current liabilities
90,405
77,428
Creditors: amounts falling due after more than one year
7
(10,951)
(27,485)
Net assets
79,454
49,943
Capital and reserves
Called up share capital
9
1
1
Profit and loss reserves
79,453
49,942
Total equity
79,454
49,943

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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.

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.

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

The financial statements were approved by the board of directors and authorised for issue on 29 January 2025 and are signed on its behalf by:
Mr M R Hamer
Director
Company registration number 07836296 (England and Wales)
HAMAX LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
- 3 -
1
Accounting policies
Company information

Hamax Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Suite 5b Malvern Gate, Bromwich Road, Worcester, WR2 4BN.

1.1
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 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the provision of services is recognised by reference to the stage of completion, when the costs incurred and costs to complete can be estimated reliably.

1.3
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and has been amortised on a systematic basis over its expected life.

1.4
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
20% on reducing balance
Computers
20% on cost
Motor vehicles
33% on reducing balance

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.

1.5
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 profit and loss account 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.

HAMAX LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 4 -
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 profit and loss account, 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.

1.6
Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.7
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.8
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2
Employees

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

2024
2023
Number
Number
Total
132
132
3
Intangible fixed assets
Goodwill
£
Cost
At 1 May 2023 and 30 April 2024
39,000
Amortisation and impairment
At 1 May 2023 and 30 April 2024
39,000
Carrying amount
At 30 April 2024
-
0
At 30 April 2023
-
0
HAMAX LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 5 -
4
Tangible fixed assets
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
Cost
At 1 May 2023
14,360
17,455
133,865
165,680
Additions
1,235
1,927
12,038
15,200
Disposals
-
0
-
0
(7,197)
(7,197)
At 30 April 2024
15,595
19,382
138,706
173,683
Depreciation and impairment
At 1 May 2023
9,541
14,121
105,719
129,381
Depreciation charged in the year
1,211
1,797
10,886
13,894
At 30 April 2024
10,752
15,918
116,605
143,275
Carrying amount
At 30 April 2024
4,843
3,464
22,101
30,408
At 30 April 2023
4,819
3,334
28,146
36,299
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
47,876
64,466
Amounts owed by group undertakings
182,202
94,232
Other debtors
269,531
222,152
499,609
380,850
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
10,648
4,085
Trade creditors
66,419
33,948
Taxation and social security
256,586
226,511
Other creditors
117,621
140,918
451,274
405,462
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
10,951
27,485
HAMAX LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 6 -
8
Secured debts
The following secured debts are included within creditors:
2024
2023
£
£
Bank loans
21,599
31,570
Bank loans are secured by way of a fixed and floating charge over all assets of the company.
9
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of 50p each
2
2
1
1
10
Related party transactions

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions.

11
Control

Ultimate parent company

The ultimate parent company is Care 1775 Limited, a company registered in England and Wales.

Ultimate controlling party

The ultimate controlling party is Mr M R Hamer and Mrs A J Hamer, by virtue of their controlling interests in the ultimate parent company.

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