5 5 Derek Hamilton Limited NI029468 false 2023-05-01 2024-04-30 2024-04-30 The principal activity of the company is maintenance and repair of motor vehicles Digita Accounts Production Advanced 6.30.9574.0 true NI029468 2023-05-01 2024-04-30 NI029468 2024-04-30 NI029468 core:CurrentFinancialInstruments 2024-04-30 NI029468 core:CurrentFinancialInstruments core:WithinOneYear 2024-04-30 NI029468 core:Non-currentFinancialInstruments 2024-04-30 NI029468 core:Non-currentFinancialInstruments core:AfterOneYear 2024-04-30 NI029468 core:FurnitureFittingsToolsEquipment 2024-04-30 NI029468 core:OtherPropertyPlantEquipment 2024-04-30 NI029468 bus:SmallEntities 2023-05-01 2024-04-30 NI029468 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 NI029468 bus:FilletedAccounts 2023-05-01 2024-04-30 NI029468 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 NI029468 bus:RegisteredOffice 2023-05-01 2024-04-30 NI029468 bus:Director1 2023-05-01 2024-04-30 NI029468 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 NI029468 core:FurnitureFittingsToolsEquipment 2023-05-01 2024-04-30 NI029468 core:OtherPropertyPlantEquipment 2023-05-01 2024-04-30 NI029468 core:PlantMachinery 2023-05-01 2024-04-30 NI029468 countries:NorthernIreland 2023-05-01 2024-04-30 NI029468 2023-04-30 NI029468 core:FurnitureFittingsToolsEquipment 2023-04-30 NI029468 core:OtherPropertyPlantEquipment 2023-04-30 NI029468 2022-05-01 2023-04-30 NI029468 2023-04-30 NI029468 core:CurrentFinancialInstruments 2023-04-30 NI029468 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-30 NI029468 core:Non-currentFinancialInstruments 2023-04-30 NI029468 core:Non-currentFinancialInstruments core:AfterOneYear 2023-04-30 NI029468 core:FurnitureFittingsToolsEquipment 2023-04-30 NI029468 core:OtherPropertyPlantEquipment 2023-04-30 xbrli:pure iso4217:GBP

Registration number: NI029468

Derek Hamilton Limited

trading as Auto Technic

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Derek Hamilton Limited
trading as Auto Technic

(Registration number: NI029468)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

4,987

5,868

Current assets

 

Stocks

5

26,850

30,739

Debtors

6

2,274

1,427

Cash at bank and in hand

 

209,113

196,344

 

238,237

228,510

Creditors: due within one year

7

(46,691)

(49,047)

Net current assets

 

191,546

179,463

Total assets less current liabilities

 

196,533

185,331

Creditors: due after more than one year

8

(478,808)

(490,413)

Net liabilities

 

(282,275)

(305,082)

Capital and reserves

 

Called up share capital

9

2

2

Retained earnings

(282,277)

(305,084)

Shareholders' deficit

 

(282,275)

(305,082)

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

Directors' 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 directors acknowledge their 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 and 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Derek Hamilton Limited
trading as Auto Technic

(Registration number: NI029468)
Balance Sheet as at 30 April 2024

Approved and authorised by the Board on 28 January 2025 and signed on its behalf by:
 

.........................................
Mr Mark Hamilton
Director

 

Derek Hamilton Limited
trading as Auto Technic

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

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

The address of its registered office is: 45 Kinnegar Drive, Holywood, Co Down, BT18 9JQ.

These financial statements were authorised for issue by the Board on 28 January 2025.

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.

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:

Asset class

Depreciation method and rate

Furniture, fittings and equipment

25% Straight Line Method

 

Derek Hamilton Limited
trading as Auto Technic

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Other Tangible Assets

15% Reducing Balance Method

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.

Short-term debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in operating expenses.

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

 

Derek Hamilton Limited
trading as Auto Technic

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2023 - 5).

 

Derek Hamilton Limited
trading as Auto Technic

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 May 2023

316

37,384

37,700

At 30 April 2024

316

37,384

37,700

Depreciation

At 1 May 2023

316

31,516

31,832

Charge for the year

-

881

881

At 30 April 2024

316

32,397

32,713

Carrying amount

At 30 April 2024

-

4,987

4,987

At 30 April 2023

-

5,868

5,868

5

Stocks

2024
£

2023
£

Stocks

26,850

30,739

6

Debtors

2024
£

2023
£

Prepayments

2,274

1,427

 

2,274

1,427

 

Derek Hamilton Limited
trading as Auto Technic

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

7

Creditors: due within one year

2024
£

2023
£

Trade creditors

20,565

22,173

Taxation and social security

16,609

15,305

Accruals and deferred income

7,025

7,461

Other creditors

2,492

4,108

46,691

49,047

8

Creditors: due after more than one year

2024
£

2023
£

Directors loan accounts

478,808

490,413

9

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2