9 01/07/2023 30/06/2024 2024-06-30 false false false false false false false true false false true false false false false false false false No description of principal activities is disclosed 2023-07-01 Sage Accounts Production 23.0 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP NI680253 2023-07-01 2024-06-30 NI680253 2024-06-30 NI680253 2023-06-30 NI680253 2022-07-01 2023-06-30 NI680253 2023-06-30 NI680253 2022-06-30 NI680253 core:PlantMachinery 2023-07-01 2024-06-30 NI680253 core:FurnitureFittingsToolsEquipment 2023-07-01 2024-06-30 NI680253 bus:RegisteredOffice 2023-07-01 2024-06-30 NI680253 bus:LeadAgentIfApplicable 2023-07-01 2024-06-30 NI680253 bus:Director1 2023-07-01 2024-06-30 NI680253 bus:Director2 2023-07-01 2024-06-30 NI680253 bus:Director3 2023-07-01 2024-06-30 NI680253 core:PlantMachinery 2023-06-30 NI680253 core:FurnitureFittingsToolsEquipment 2023-06-30 NI680253 core:PlantMachinery 2024-06-30 NI680253 core:FurnitureFittingsToolsEquipment 2024-06-30 NI680253 core:MotorVehicles 2024-06-30 NI680253 core:WithinOneYear 2024-06-30 NI680253 core:WithinOneYear 2023-06-30 NI680253 core:RetainedEarningsAccumulatedLosses 2022-07-01 2023-06-30 NI680253 core:RetainedEarningsAccumulatedLosses 2023-07-01 2024-06-30 NI680253 core:AfterOneYear 2024-06-30 NI680253 core:AfterOneYear 2023-06-30 NI680253 core:ShareCapital 2024-06-30 NI680253 core:ShareCapital 2023-06-30 NI680253 core:RetainedEarningsAccumulatedLosses 2024-06-30 NI680253 core:RetainedEarningsAccumulatedLosses 2023-06-30 NI680253 core:ShareCapital 2022-06-30 NI680253 core:RetainedEarningsAccumulatedLosses 2022-06-30 NI680253 core:PreviouslyStatedAmount core:ShareCapital 2024-06-30 NI680253 core:MotorVehicles 2023-07-01 2024-06-30 NI680253 core:PlantMachinery 2023-06-30 NI680253 core:FurnitureFittingsToolsEquipment 2023-06-30 NI680253 bus:Director1 2023-06-30 NI680253 bus:Director1 2024-06-30 NI680253 bus:Director1 2022-06-30 NI680253 bus:Director1 2023-06-30 NI680253 bus:Director1 2022-07-01 2023-06-30 NI680253 bus:SmallEntities 2023-07-01 2024-06-30 NI680253 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 NI680253 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 NI680253 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 NI680253 bus:FullAccounts 2023-07-01 2024-06-30
Company registration number: NI680253
HAMILTON METAL FORMING LTD
UNAUDITED FILLETED FINANCIAL STATEMENTS
30 June 2024
HAMILTON METAL FORMING LTD
FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024
_________________________________________________________________________________________
Contents
Directors and other information
Directors responsibilities statement
Accountants report
Balance sheet
Statement of changes in equity
Notes to the financial statements
HAMILTON METAL FORMING LTD
FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024
_________________________________________________________________________________________
Directors Roger Hamilton
Janice Hamilton
Wesley Hamilton
Company number NI680253
Registered office 47 Shivey Road
Cookstown
Co. Tyrone
BT80 9HB
Business address 47 Shivey Road
Cookstown
Co. Tyrone
BT80 9HB
Accountants Kelly & O'Neill Ltd
15e Molesworth Street
Cookstown
Co. Tyrone
BT80 8NX
Bankers Danske Bank
PO Box 183
Donegall Square West
Belfast
BT1 6JS
HAMILTON METAL FORMING LTD
DIRECTORS RESPONSIBILITIES
YEAR ENDED 30 JUNE 2024
_________________________________________________________________________________________
The directors are responsible for preparing the directors report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the directors are required to:
- select suitable accounting policies and then apply them consistently;
- make judgments and accounting estimates that are reasonable and prudent; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
HAMILTON METAL FORMING LTD
REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE
UNAUDITED STATUTORY FINANCIAL STATEMENTS OF HAMILTON METAL FORMING LTD (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 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 Metal Forming Ltd for the year ended 30 June 2024 which comprise the Balance Sheet, statement of changes in equity and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of Chartered Accountants Ireland , we are subject to its ethical and other professional requirements which are detailed at www.charteredaccountants.ie.
This report is made solely to the board of directors of Hamilton Metal Forming Ltd, as a body, in accordance with the terms of our engagement letter dated 24 May 2024. Our work has been undertaken solely to prepare for your approval the financial statements of Hamilton Metal Forming Ltd and state those matters that we have agreed to state to the board of directors of Hamilton Metal Forming Ltd as a body, in this report in accordance with the requirements of Chartered Accountants Ireland as detailed at www.charteredaccountants.ie. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Hamilton Metal Forming Ltd and its board of directors as a body for our work or for this report.
It is your duty to ensure that Hamilton Metal Forming 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 Hamilton Metal Forming Ltd. You consider that Hamilton Metal Forming 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 Hamilton Metal Forming 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.
Kelly & O'Neill Ltd
15e Molesworth Street
Cookstown
Co. Tyrone
BT80 8NX
29 October 2024
HAMILTON METAL FORMING LTD
BALANCE SHEET (CONTINUED)
30 JUNE 2024
_________________________________________________________________________________________
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 219,137 157,507
_______ _______
219,137 157,507
Current assets
Stocks 824,658 602,150
Debtors 6 1,168,688 1,004,627
Cash at bank and in hand 112,056 62,752
_______ _______
2,105,402 1,669,529
Creditors: amounts falling due
within one year 7 ( 1,704,612) ( 1,322,861)
_______ _______
Net current assets 400,790 346,668
_______ _______
Total assets less current liabilities 619,927 504,175
Creditors: amounts falling due
after more than one year 8 ( 116,375) ( 115,110)
_______ _______
Net assets 503,552 389,065
_______ _______
Capital and reserves
Called up share capital 1 1
Profit and loss account 503,551 389,064
_______ _______
Shareholders funds 503,552 389,065
_______ _______
For the year ending 30 June 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 financial statements for the year in question in accordance with section 476;
- The directors acknowledge 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 Profit & Loss Account has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 29 October 2024 , and are signed on behalf of the board by:
Roger Hamilton
Director
Company registration number: NI680253
HAMILTON METAL FORMING LTD
STATEMENT OF CHANGES IN EQUITY (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
_________________________________________________________________________________
Called up share capital Profit and loss account Total
£ £ £
At 1 July 2022 1 166,874 166,875
Profit for the year 238,190 238,190
_______ _______ _______
Total comprehensive income for the year - 238,190 238,190
Dividends paid and payable ( 16,000) ( 16,000)
_______ _______ _______
Total investments by and distributions to owners - ( 16,000) ( 16,000)
_______ _______ _______
At 30 June 2023 and 1 July 2023 1 389,064 389,065
Profit for the year 151,487 151,487
_______ _______ _______
Total comprehensive income for the year - 151,487 151,487
Dividends paid and payable ( 37,000) ( 37,000)
_______ _______ _______
Total investments by and distributions to owners - ( 37,000) ( 37,000)
_______ _______ _______
At 30 June 2024 1 503,551 503,552
_______ _______ _______
HAMILTON METAL FORMING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
_________________________________________________________________________________________
1. General information
The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is 47 Shivey Road, Cookstown, Co. Tyrone, BT80 9HB.
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 and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
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. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
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:
Plant and machinery - 20 % reducing balance
Fittings fixtures and equipment - 20 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
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. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
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. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 9 (2023: 6 ).
5. Tangible assets
Plant and machinery Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £
Cost
At 1 July 2023 194,368 2,516 - 196,884
Additions 57,200 - 59,215 116,415
_______ _______ _______ _______
At 30 June 2024 251,568 2,516 59,215 313,299
_______ _______ _______ _______
Depreciation
At 1 July 2023 38,874 503 - 39,377
Charge for the year 42,539 403 11,843 54,785
_______ _______ _______ _______
At 30 June 2024 81,413 906 11,843 94,162
_______ _______ _______ _______
Carrying amount
At 30 June 2024 170,155 1,610 47,372 219,137
_______ _______ _______ _______
At 30 June 2023 155,494 2,013 - 157,507
_______ _______ _______ _______
6. Debtors
2024 2023
£ £
Trade debtors 1,168,688 979,760
Other debtors - 24,867
_______ _______
1,168,688 1,004,627
_______ _______
7. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 257,908 -
Trade creditors 1,185,328 1,145,797
Corporation tax 27,604 62,593
Social security and other taxes 90,233 22,482
Other creditors 143,539 91,989
_______ _______
1,704,612 1,322,861
_______ _______
8. Creditors: amounts falling due after more than one year
2024 2023
£ £
Other creditors 116,375 115,110
_______ _______
9. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Roger Hamilton ( 52,315) ( 41,900) ( 94,215)
_______ _______ _______
2023
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Roger Hamilton ( 36,413) ( 15,902) ( 52,315)
_______ _______ _______