| REGISTERED NUMBER: |
| STRATEGIC REPORT, REPORT OF THE DIRECTOR AND |
| FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 NOVEMBER 2024 |
| FOR |
| HAMILTON SALES & SERVICE |
| UK LTD |
| REGISTERED NUMBER: |
| STRATEGIC REPORT, REPORT OF THE DIRECTOR AND |
| FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 NOVEMBER 2024 |
| FOR |
| HAMILTON SALES & SERVICE |
| UK LTD |
| HAMILTON SALES & SERVICE |
| UK LTD (REGISTERED NUMBER: 02188200) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 NOVEMBER 2024 |
| Page |
| Company Information | 1 |
| Strategic Report | 2 |
| Report of the Director | 4 |
| Report of the Independent Auditors | 5 |
| Income Statement | 8 |
| Other Comprehensive Income | 9 |
| Balance Sheet | 10 |
| Statement of Changes in Equity | 11 |
| Cash Flow Statement | 12 |
| Notes to the Cash Flow Statement | 13 |
| Notes to the Financial Statements | 14 |
| HAMILTON SALES & SERVICE |
| UK LTD |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 30 NOVEMBER 2024 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| Chartered Accountants |
| Statutory Auditor |
| Corner Oak |
| 1 Homer Road |
| Solihull |
| B91 3QG |
| HAMILTON SALES & SERVICE |
| UK LTD (REGISTERED NUMBER: 02188200) |
| STRATEGIC REPORT |
| FOR THE YEAR ENDED 30 NOVEMBER 2024 |
| The director presents her strategic report for the year ended 30 November 2024. |
| REVIEW OF BUSINESS |
| 2024 was a positive year but we still had some challenges related to the economy, post-COVID legacy systems. The election in the UK and pending one in USA impacted spending decisions for companies with global headquarters in USA (Key Accounts). |
| The year started with good momentum and the pipeline was healthy. The complexity of some customer types increased with their needs for lengthy surveys, involved legislative paperwork and tedious procurement processes. The levels of their own internal justifications and the requirement for us to complete lengthy documents created some timeline challenges in 2024. |
| There remained a surplus of used automation equipment that was floating around the second-hand market which impacted some of our opportunities as well as internal consolidation and repurposing of existing capital equipment by larger companies. |
| We saw the stocks of consumables that are linked to our system gradually diminish in 2024 and the start of a recovery for income streams from this lucrative part of the business. |
| The support side of the business with service contracts, preventative maintenance visits and other ancillary services proved to perform >25% above 2023 and remains a highly profitable and lucrative part of the business. It is apparent that customers are happy to invest in peace of mind coverage of their systems, but this also comes with an expectation of delivery and responsiveness of the filed organisation. |
| However, during the summer we saw a spell of multiple customer cancelling or postponing opportunities at the very last stage. This left a hole in our pipeline and impacted financial performance. We recovered in Q3 but the majority of this won't be realised until 2025 Quarter 1. |
| We finished the year with a final turnover figure of £17.5 million and around 37 System units including the smaller ML Preps. The trend for Hamilton seems to be less instruments unit sales but much higher average price of sale which leaves a gap in the market for competitors at the lower end of the market. |
| We have a good pipeline to carry into 2025 and a planned team expansion to adapt to the market for the next 3+ years. |
| Our level of profitability remains healthy. |
| PRINCIPAL RISKS AND UNCERTAINTIES |
| The principal risk for 2025 is the financial crisis continuing and the unknown potential impact of the budget related to NI contributions and whether companies may hold back on capital investment to allow coverage of increased staff costs or the juxtaposition that they may seek more automation to reduce staff costs. |
| DEVELOPMENT AND PERFORMANCE |
| We have approval for additional sales staff in 2025 based upon a Business Plan Stephen Hughes wrote and these hires will be implemented in 2025. This should have some additional impact by the end of 2025 and into 2026. |
| KEY PERFORMANCE INDICATORS |
| The key performance is measured on units sold, gross and net profit. Robotics did not reach the internally set budget target but still had a healthy income, controlled OPEX and a good margin of profitability. |
| The UK organisation remains operationally lean and efficient. |
| HAMILTON SALES & SERVICE |
| UK LTD (REGISTERED NUMBER: 02188200) |
| STRATEGIC REPORT |
| FOR THE YEAR ENDED 30 NOVEMBER 2024 |
| ON BEHALF OF THE BOARD: |
| HAMILTON SALES & SERVICE |
| UK LTD (REGISTERED NUMBER: 02188200) |
| REPORT OF THE DIRECTOR |
| FOR THE YEAR ENDED 30 NOVEMBER 2024 |
| The director presents her report with the financial statements of the company for the year ended 30 November 2024. |
| DIVIDENDS |
| The total distribution of dividends for the year ended 30 November 2024 was £6,000,000 (2023: Nil). |
| DIRECTOR |
| STATEMENT OF DIRECTOR'S RESPONSIBILITIES |
| The director is responsible for preparing the Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations. |
| Company law requires the director to prepare financial statements for each financial year. Under that law the director has 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 director must not approve the financial statements unless she is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to: |
| - | select suitable accounting policies and then apply them consistently; |
| - | make judgements and accounting estimates that are reasonable and prudent; |
| - | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
| The director is 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 her to ensure that the financial statements comply with the Companies Act 2006. She is 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. |
| STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS |
| So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and she has taken all the steps that she ought to have taken as a director in order to make herself aware of any relevant audit information and to establish that the company's auditors are aware of that information. |
| AUDITORS |
| The auditors, Prime, are deemed to be reappointed under section 487(2) of the Companies Act 2006. |
| ON BEHALF OF THE BOARD: |
| REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
| HAMILTON SALES & SERVICE |
| UK LTD |
| Opinion |
| We have audited the financial statements of Hamilton Sales & Service UK Ltd (the 'company') for the year ended 30 November 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). |
| In our opinion the financial statements: |
| - | give a true and fair view of the state of the company's affairs as at 30 November 2024 and of its profit for the year then ended; |
| - | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
| - | have been prepared in accordance with the requirements of the Companies Act 2006. |
| Basis for opinion |
| We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. |
| Conclusions relating to going concern |
| In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate. |
| Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. |
| Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report. |
| Other information |
| The director is responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon. |
| Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. |
| In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. |
| REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
| HAMILTON SALES & SERVICE |
| UK LTD |
| Opinions on other matters prescribed by the Companies Act 2006 |
| In our opinion, based on the work undertaken in the course of the audit: |
| - | the information given in the Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
| - | the Strategic Report and the Report of the Director have been prepared in accordance with applicable legal requirements. |
| Matters on which we are required to report by exception |
| In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Director. |
| We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: |
| - | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
| - | the financial statements are not in agreement with the accounting records and returns; or |
| - | certain disclosures of director's remuneration specified by law are not made; or |
| - | we have not received all the information and explanations we require for our audit. |
| Responsibilities of director |
| As explained more fully in the Statement of Director's Responsibilities set out on page four, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. |
| In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so. |
| Auditors' responsibilities for the audit of the financial statements |
| Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. |
| The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: |
| Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows: |
| - the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations; |
| - we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the industry sector; |
| - we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation and data protection, anti-bribery, employment, environmental and health and safety legislation; |
| - we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; |
| REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
| HAMILTON SALES & SERVICE |
| UK LTD |
| We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by: |
| - making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and |
| - considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations. |
| To address the risk of fraud through management bias and override of controls, we: |
| - performed analytical procedures to identify any unusual or unexpected relationships; |
| - tested journal entries to identify unusual transactions; |
| - assessed whether judgements and assumptions made in determining accounting estimates were indicative of potential bias; and |
| - investigated the rationale behind significant or unusual transactions. |
| In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to: |
| - agreeing financial statement disclosures to underlying supporting documentation; |
| - enquiring of management as to actual and potential litigation and claims; and |
| - reviewing correspondence with HMRC and other relevant parties. |
| There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. |
| Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion. |
| A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors. |
| Use of our report |
| This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed. |
| for and on behalf of |
| Chartered Accountants |
| Statutory Auditor |
| Corner Oak |
| 1 Homer Road |
| Solihull |
| B91 3QG |
| HAMILTON SALES & SERVICE |
| UK LTD (REGISTERED NUMBER: 02188200) |
| INCOME STATEMENT |
| FOR THE YEAR ENDED 30 NOVEMBER 2024 |
| 2024 | 2023 |
| Notes | £ | £ |
| TURNOVER | 3 |
| Cost of sales |
| GROSS PROFIT |
| Administrative expenses |
| 455,027 | (593,468 | ) |
| Other operating income |
| OPERATING PROFIT | 5 |
| Interest receivable and similar income |
| PROFIT BEFORE TAXATION |
| Tax on profit | 6 |
| PROFIT FOR THE FINANCIAL YEAR |
| HAMILTON SALES & SERVICE |
| UK LTD (REGISTERED NUMBER: 02188200) |
| OTHER COMPREHENSIVE INCOME |
| FOR THE YEAR ENDED 30 NOVEMBER 2024 |
| 2024 | 2023 |
| Notes | £ | £ |
| PROFIT FOR THE YEAR |
| OTHER COMPREHENSIVE INCOME | - | - |
| TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
| HAMILTON SALES & SERVICE |
| UK LTD (REGISTERED NUMBER: 02188200) |
| BALANCE SHEET |
| 30 NOVEMBER 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 8 |
| CURRENT ASSETS |
| Stocks | 9 |
| Debtors | 10 |
| Investments | 11 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 12 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES | 14 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 15 |
| Retained earnings | 16 |
| SHAREHOLDERS' FUNDS |
| The financial statements were approved by the director and authorised for issue on |
| HAMILTON SALES & SERVICE |
| UK LTD (REGISTERED NUMBER: 02188200) |
| STATEMENT OF CHANGES IN EQUITY |
| FOR THE YEAR ENDED 30 NOVEMBER 2024 |
| Called up |
| share | Retained | Total |
| capital | earnings | equity |
| £ | £ | £ |
| Balance at 1 December 2022 |
| Changes in equity |
| Total comprehensive income | - |
| Balance at 30 November 2023 |
| Changes in equity |
| Dividends | - | ( |
) | ( |
) |
| Total comprehensive income | - |
| Balance at 30 November 2024 |
| HAMILTON SALES & SERVICE |
| UK LTD (REGISTERED NUMBER: 02188200) |
| CASH FLOW STATEMENT |
| FOR THE YEAR ENDED 30 NOVEMBER 2024 |
| 2024 | 2023 |
| Notes | £ | £ |
| Cash flows from operating activities |
| Cash generated from operations | 1 |
| Tax paid | ( |
) |
| Net cash from operating activities |
| Cash flows from investing activities |
| Purchase of tangible fixed assets | ( |
) | ( |
) |
| Sale of tangible fixed assets |
| Interest received |
| Net cash from investing activities |
| Cash flows from financing activities |
| Equity dividends paid | ( |
) |
| Net cash from financing activities | ( |
) |
| Increase in cash and cash equivalents |
| Cash and cash equivalents at beginning of year |
2 |
3,645,581 |
| Cash and cash equivalents at end of year |
2 |
6,108,340 |
5,949,493 |
| HAMILTON SALES & SERVICE |
| UK LTD (REGISTERED NUMBER: 02188200) |
| NOTES TO THE CASH FLOW STATEMENT |
| FOR THE YEAR ENDED 30 NOVEMBER 2024 |
| 1. | RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS |
| 2024 | 2023 |
| £ | £ |
| Profit before taxation |
| Depreciation charges |
| Loss/(profit) on disposal of fixed assets | ( |
) |
| Finance income | (72,369 | ) | (175,464 | ) |
| 1,193,089 | 1,341,218 |
| (Increase)/decrease in stocks | ( |
) |
| Decrease in trade and other debtors |
| Increase/(decrease) in trade and other creditors | ( |
) |
| Cash generated from operations |
| 2. | CASH AND CASH EQUIVALENTS |
| The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts: |
| Year ended 30 November 2024 |
| 30.11.24 | 1.12.23 |
| £ | £ |
| Cash and cash equivalents | 6,108,340 | 5,949,493 |
| Year ended 30 November 2023 |
| 30.11.23 | 1.12.22 |
| £ | £ |
| Cash and cash equivalents | 5,949,493 | 3,645,581 |
| 3. | ANALYSIS OF CHANGES IN NET FUNDS |
| At 1.12.23 | Cash flow | At 30.11.24 |
| £ | £ | £ |
| Net cash |
| Cash at bank | 5,949,493 | 158,847 | 6,108,340 |
| 5,949,493 | 6,108,340 |
| Liquid resources |
| Current asset investments | 4,187,579 | (4,187,579 | ) | - |
| 4,187,579 | (4,187,579 | ) | - |
| Total | 10,137,072 | (4,028,732 | ) | 6,108,340 |
| HAMILTON SALES & SERVICE |
| UK LTD (REGISTERED NUMBER: 02188200) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 NOVEMBER 2024 |
| 1. | STATUTORY INFORMATION |
| Hamilton Sales & Service UK Ltd is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents sales of goods and services supplied in the year, excluding value added tax. |
| Tangible fixed assets |
| Plant and machinery | - |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
| 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. |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
| HAMILTON SALES & SERVICE |
| UK LTD (REGISTERED NUMBER: 02188200) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 NOVEMBER 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| 3. | TURNOVER |
| The turnover and profit before taxation are attributable to the one principal activity of the company. |
| An analysis of turnover by geographical market is given below: |
| 2024 | 2023 |
| £ | £ |
| United Kingdom |
| Europe |
| 4. | EMPLOYEES AND DIRECTORS |
| 2024 | 2023 |
| £ | £ |
| Wages and salaries |
| Social security costs |
| Other pension costs |
| The average number of employees during the year was as follows: |
| 2024 | 2023 |
| Administration, technical and sales |
| 2024 | 2023 |
| £ | £ |
| Director's remuneration |
| HAMILTON SALES & SERVICE |
| UK LTD (REGISTERED NUMBER: 02188200) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 NOVEMBER 2024 |
| 5. | OPERATING PROFIT |
| The operating profit is stated after charging: |
| 2024 | 2023 |
| £ | £ |
| Hire of plant and machinery |
| Depreciation - owned assets |
| Loss on disposal of fixed assets |
| Auditors' remuneration |
| Foreign exchange differences |
| 6. | TAXATION |
| Analysis of the tax charge |
| The tax charge on the profit for the year was as follows: |
| 2024 | 2023 |
| £ | £ |
| Current tax: |
| UK corporation tax |
| Deferred tax | ( |
) | ( |
) |
| Tax on profit |
| Reconciliation of total tax charge included in profit and loss |
| The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below: |
| 2024 | 2023 |
| £ | £ |
| Profit before tax |
| Profit multiplied by the standard rate of corporation tax in the UK of |
| Effects of: |
| Expenses not deductible for tax purposes |
| Depreciation in excess of capital allowances |
| Deferred tax movement | (15,519 | ) | (20,516 | ) |
| Marginal rate rounding | - | 169 |
| Total tax charge | 294,458 | 325,149 |
| 7. | DIVIDENDS |
| 2024 | 2023 |
| £ | £ |
| Ordinary shares of £1 each |
| Interim |
| HAMILTON SALES & SERVICE |
| UK LTD (REGISTERED NUMBER: 02188200) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 NOVEMBER 2024 |
| 8. | TANGIBLE FIXED ASSETS |
| Plant and |
| machinery |
| £ |
| COST |
| At 1 December 2023 |
| Additions |
| Disposals | ( |
) |
| At 30 November 2024 |
| DEPRECIATION |
| At 1 December 2023 |
| Charge for year |
| At 30 November 2024 |
| NET BOOK VALUE |
| At 30 November 2024 |
| At 30 November 2023 |
| 9. | STOCKS |
| 2024 | 2023 |
| £ | £ |
| Stocks |
| 10. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Tax |
| Prepayments and accrued income |
| 11. | CURRENT ASSET INVESTMENTS |
| 2024 | 2023 |
| £ | £ |
| Currency investments | - | 4,187,579 |
| HAMILTON SALES & SERVICE |
| UK LTD (REGISTERED NUMBER: 02188200) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 NOVEMBER 2024 |
| 12. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade creditors |
| Amounts owed to group undertakings |
| Social security and other taxes |
| VAT | 655,271 | 344,618 |
| Other creditors |
| Accruals and deferred income |
| 13. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 2024 | 2023 |
| £ | £ |
| Within one year |
| Between one and five years |
| 14. | PROVISIONS FOR LIABILITIES |
| 2024 | 2023 |
| £ | £ |
| Deferred tax | 45,724 | 61,243 |
| Deferred |
| tax |
| £ |
| Balance at 1 December 2023 |
| Credit to Income Statement during year | ( |
) |
| Balance at 30 November 2024 |
| The deferred tax provision relates solely to accelerated capital allowances. |
| 15. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2024 | 2023 |
| value: | £ | £ |
| Ordinary | £1 | 199,999 | 199,999 |
| HAMILTON SALES & SERVICE |
| UK LTD (REGISTERED NUMBER: 02188200) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 NOVEMBER 2024 |
| 16. | RESERVES |
| Retained |
| earnings |
| £ |
| At 1 December 2023 |
| Profit for the year |
| Dividends | ( |
) |
| At 30 November 2024 |
| 17. | RELATED PARTY DISCLOSURES |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
| 18. | ULTIMATE PARENT COMPANY |
| The immediate parent company is Hamilton Bonaduz AG registered office Via Crusch 8, 7402 Bonaduz, Switzerland. |
| The ultimate parent company is Hamilton Technologies LLC a company registered in the USA. |