Registered number
07663156
England & Wales
Hamilton's Contracts Limited
Filleted Accounts
for the year ended
30 June 2024
Hamilton's Contracts Limited
Registered number: 07663156 England & Wales
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 742 873
Current assets
Debtors 4 362,436 368,349
Cash at bank and in hand 221,117 245,930
583,553 614,279
Creditors: amounts falling due within one year 5 (163,571) (191,185)
Net current assets 419,982 423,094
Net assets 420,724 423,967
Capital and reserves
Called up share capital 4 4
Profit and loss account 420,720 423,963
Shareholder's funds 420,724 423,967
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
ON BEHALF OF THE BOARD:
Nicholas Hamilton
Director
Approved by the board on 17 February 2025
Hamilton's Contracts Limited
Notes to the Accounts
for the year ended 30 June 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned for the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Debtors and creditors receivable/payable within one year
Short term 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 profit and loss account in other administrative expenses.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference. Current and deferred tax assets and liabilities are not discounted.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 July 2023 4,128 23,547 27,675
Disposals - (23,547) (23,547)
At 30 June 2024 4,128 - 4,128
Depreciation
At 1 July 2023 3,255 23,547 26,802
Charge for the year 131 - 131
On disposals - (23,547) (23,547)
At 30 June 2024 3,386 - 3,386
Net book value
At 30 June 2024 742 - 742
At 30 June 2023 873 - 873
4 Debtors 2024 2023
£ £
Trade debtors 106,654 -
Other debtors 255,782 368,349
362,436 368,349
Included in other debtors is a loan to Mr Hamilton amounting to £5,336 (2023 £ nil). The loan is interest free and repayable on demand
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 107,487 1,576
Taxation and social security costs 56,084 179,059
Other creditors - 10,550
163,571 191,185
Included in other creditors is a loan from Mr Hamilton amounting to £ nil (2023 £10,550).
6 Other financial commitments 2024 2023
£ £
Total future minimum payments under non-cancellable operating leases 31,827 37,586
7 Related party transactions
Mr Nicholas Hamilton is also a director and shareholder of Level Best Solutions Limited. Turnover includes management charges of £605,067 (2023 £913,833) to Level Best Solutions Limited. At 30th June 2024 Level Best Solutions Limited owed Hamilton Contract's Limited £128,263 (2023 £287,932 ).
8 Controlling party
During the two years ending 30th June 2024 Mr N Hamilton controlled the company by virtue of his 100% shareholding in the issued ordinary share capital
9 Other information
Hamilton's Contracts Limited is a private company limited by shares and incorporated in England. Its registered office is:
Greystones,
Mark Cross,
Crowborough,
East Sussex
TN6 3PL
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