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Company registration number: 07806301
HAMILTON FINANCIAL OPTIONS LIMITED
UNAUDITED FILLETED FINANCIAL STATEMENTS
31 October 2024
HAMILTON FINANCIAL OPTIONS LIMITED
Contents
Directors and other information
Accountants report
Statement of financial position
Statement of changes in equity
Notes to the financial statements
HAMILTON FINANCIAL OPTIONS LIMITED
DIRECTORS AND OTHER INFORMATION
Director Mr C E Hamilton
Company number 07806301
Registered office Nobold Farm
Nobold Lane
Nobold
Shrewsbury
SY5 8NW
Business address Nobold Farm
Nobold Lane
Nobold
Shrewsbury
SY5 8NW
Accountants Heywoods
Countrywide House
Knights Way
Shrewsbury
Shropshire
SY1 3AB
HAMILTON FINANCIAL OPTIONS LIMITED
CHARTERED ACCOUNTANTS REPORT TO THE DIRECTOR ON THE PREPARATION OF THE
UNAUDITED STATUTORY FINANCIAL STATEMENTS OF HAMILTON FINANCIAL OPTIONS LIMITED
YEAR ENDED 31ST OCTOBER 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Hamilton Financial Options Limited for the year ended 31 October 2024 as set out on pages 3 to 9 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 http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the director of Hamilton Financial Options Limited, as a body, in accordance with the terms of our engagement letter dated 24 May 2018. Our work has been undertaken solely to prepare for your approval the financial statements of Hamilton Financial Options Limited and state those matters that we have agreed to state to them, 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 Hamilton Financial Options Limited and its director as a body for our work or for this report.
It is your duty to ensure that Hamilton Financial Options Limited 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 Hamilton Financial Options Limited. You consider that Hamilton Financial Options Limited 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 Hamilton Financial Options Limited. 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.
Heywoods
Chartered Accountants
Countrywide House
Knights Way
Shrewsbury
Shropshire
SY1 3AB
17 February 2025
HAMILTON FINANCIAL OPTIONS LIMITED
STATEMENT OF FINANCIAL POSITION
31ST OCTOBER 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 3,656 4,590
Investments 6 147,561 140,226
_______ _______
151,217 144,816
Current assets
Debtors 7 9,678 6,041
Cash at bank and in hand 186,991 157,433
_______ _______
196,669 163,474
Creditors: amounts falling due
within one year 8 ( 10,204) ( 9,351)
_______ _______
Net current assets 186,465 154,123
_______ _______
Total assets less current liabilities 337,682 298,939
Provisions for liabilities ( 8,969) ( 7,575)
_______ _______
Net assets 328,713 291,364
_______ _______
Capital and reserves
Called up share capital 1 1
Profit and loss account 328,712 291,363
_______ _______
Shareholders funds 328,713 291,364
_______ _______
For the year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- 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;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 10 February 2025 , and are signed on behalf of the board by:
Mr C E Hamilton
Director
Company registration number: 07806301
HAMILTON FINANCIAL OPTIONS LIMITED
STATEMENT OF CHANGES IN EQUITY
YEAR ENDED 31ST OCTOBER 2024
Called up share capital Profit and loss account Total
£ £ £
At 1 November 2022 1 296,822 296,823
Profit for the year 21,541 21,541
_______ _______ _______
Total comprehensive income for the year - 21,541 21,541
Dividends paid and payable ( 27,000) ( 27,000)
_______ _______ _______
Total investments by and distributions to owners - ( 27,000) ( 27,000)
_______ _______ _______
At 31 October 2023 and 1 November 2023 1 291,363 291,364
Profit for the year 37,349 37,349
_______ _______ _______
Total comprehensive income for the year - 37,349 37,349
_______ _______ _______
At 31 October 2024 1 328,712 328,713
_______ _______ _______
HAMILTON FINANCIAL OPTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31ST OCTOBER 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Nobold Farm, Nobold Lane, Nobold, Shrewsbury, SY5 8NW.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment - 15 % reducing balance
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4. Employee numbers
The average number of persons employed by the company during the year amounted to Nil (2023: 1 ).
5. Tangible assets
Fixtures, fittings and equipment Total
£ £
Cost
At 1 November 2023 and 31 October 2024 9,214 9,214
_______ _______
Depreciation
At 1 November 2023 4,626 4,626
Charge for the year 932 932
_______ _______
At 31 October 2024 5,558 5,558
_______ _______
Carrying amount
At 31 October 2024 3,656 3,656
_______ _______
At 31 October 2023 4,588 4,588
_______ _______
6. Investments
Other investments other than loans Total
£ £
Cost or valuation
At 1 November 2023 140,226 140,226
Revaluations 7,335 7,335
_______ _______
At 31 October 2024 147,561 147,561
_______ _______
Impairment
At 1 November 2023 and 31 October 2024 - -
_______ _______
Carrying amount
At 31 October 2024 147,561 147,561
_______ _______
At 31 October 2023 140,226 140,226
_______ _______
7. Debtors
2024 2023
£ £
Other debtors 9,678 6,041
_______ _______
8. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts - 19
Corporation tax 8,379 8,134
Other creditors 1,825 1,198
_______ _______
10,204 9,351
_______ _______
9. Directors advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2024
Balance brought forward Advances /(credits) to the director Amounts repaid Balance o/standing
£ £ £ £
Mr C E Hamilton 687 ( 687) 1,085 1,085
_______ _______ _______ _______
2023
Balance brought forward Advances /(credits) to the director Amounts repaid Balance o/standing
£ £ £ £
Mr C E Hamilton ( 154) - 840 686
_______ _______ _______ _______