Registered number
07033195
W Hamilton TMS (Cumbria) Ltd
Filleted Accounts
30 September 2024
W Hamilton TMS (Cumbria) Ltd
Registered number: 07033195
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 939 1,686
Current assets
Stocks 3,399 3,267
Debtors 5 30,305 14,082
Cash at bank and in hand 53,151 42,603
86,855 59,952
Creditors: amounts falling due within one year 6 (51,961) (33,006)
Net current assets 34,894 26,946
Net assets 35,833 28,632
Capital and reserves
Called up share capital 2 2
Profit and loss account 35,831 28,630
Shareholders' funds 35,833 28,632
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
W Hamilton
Director
Approved by the board on 7 March 2025
W Hamilton TMS (Cumbria) Ltd
Notes to the Accounts
for the year ended 30 September 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 from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor Vehicles over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Intangible fixed assets £
Goodwill:
Cost
At 1 October 2023 10,000
At 30 September 2024 10,000
Amortisation
At 1 October 2023 10,000
At 30 September 2024 10,000
Net book value
At 30 September 2024 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 October 2023 12,821 8,387 21,208
At 30 September 2024 12,821 8,387 21,208
Depreciation
At 1 October 2023 11,135 8,387 19,522
Charge for the year 747 - 747
At 30 September 2024 11,882 8,387 20,269
Net book value
At 30 September 2024 939 - 939
At 30 September 2023 1,686 - 1,686
5 Debtors 2024 2023
£ £
Trade debtors 28,602 12,359
Other debtors 1,703 1,723
30,305 14,082
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 15,962 12,701
Taxation and social security costs 19,301 14,115
Other creditors 16,698 6,190
51,961 33,006
7 Controlling party
The controlling parties are Mr W Hamilton and Mrs H Hamilton by virtue of their ownership of 100% of the issued ordinary share capital in the company.
8 Other information
W Hamilton TMS (Cumbria) Ltd is a private company limited by shares and incorporated in England. Its registered office is:
34 Blenkinsopp Castle Home Park
Greenhead
Brampton
Cumbria
CA8 7JS
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