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REGISTERED NUMBER: 02188200 (England and Wales)







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: G Viglino-Caviezel





SECRETARY: S Conheeney





REGISTERED OFFICE: Unit 1 Forge Mills
Park Station Road
Coleshill
Birmingham
B46 1JH





REGISTERED NUMBER: 02188200 (England and Wales)





AUDITORS: Prime
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:





G Viglino-Caviezel - Director


28 April 2025

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
G Viglino-Caviezel held office during the whole of the period from 1 December 2023 to the date of this report.

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:





G Viglino-Caviezel - Director


28 April 2025

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.




Luke Edwards ACA FCCA (Senior Statutory Auditor)
for and on behalf of Prime
Chartered Accountants
Statutory Auditor
Corner Oak
1 Homer Road
Solihull
B91 3QG

1 May 2025

HAMILTON SALES & SERVICE
UK LTD (REGISTERED NUMBER: 02188200)

INCOME STATEMENT
FOR THE YEAR ENDED 30 NOVEMBER 2024

2024 2023
Notes £    £   

TURNOVER 3 17,513,105 16,202,938

Cost of sales 12,211,794 12,496,711
GROSS PROFIT 5,301,311 3,706,227

Administrative expenses 4,846,284 4,299,695
455,027 (593,468 )

Other operating income 613,256 1,802,988
OPERATING PROFIT 5 1,068,283 1,209,520

Interest receivable and similar income 72,369 175,464
PROFIT BEFORE TAXATION 1,140,652 1,384,984

Tax on profit 6 294,458 325,149
PROFIT FOR THE FINANCIAL YEAR 846,194 1,059,835

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 846,194 1,059,835


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

846,194

1,059,835

HAMILTON SALES & SERVICE
UK LTD (REGISTERED NUMBER: 02188200)

BALANCE SHEET
30 NOVEMBER 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 8 274,516 358,576

CURRENT ASSETS
Stocks 9 2,076,239 1,560,977
Debtors 10 4,551,097 4,759,021
Investments 11 - 4,187,579
Cash at bank 6,108,340 5,949,493
12,735,676 16,457,070
CREDITORS
Amounts falling due within one year 12 9,648,083 8,284,212
NET CURRENT ASSETS 3,087,593 8,172,858
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,362,109

8,531,434

PROVISIONS FOR LIABILITIES 14 45,724 61,243
NET ASSETS 3,316,385 8,470,191

CAPITAL AND RESERVES
Called up share capital 15 199,999 199,999
Retained earnings 16 3,116,386 8,270,192
SHAREHOLDERS' FUNDS 3,316,385 8,470,191

The financial statements were approved by the director and authorised for issue on 28 April 2025 and were signed by:





G Viglino-Caviezel - Director


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 199,999 7,210,357 7,410,356

Changes in equity
Total comprehensive income - 1,059,835 1,059,835
Balance at 30 November 2023 199,999 8,270,192 8,470,191

Changes in equity
Dividends - (6,000,000 ) (6,000,000 )
Total comprehensive income - 846,194 846,194
Balance at 30 November 2024 199,999 3,116,386 3,316,385

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 5,989,409 2,823,634
Tax paid 137,815 (669,773 )
Net cash from operating activities 6,127,224 2,153,861

Cash flows from investing activities
Purchase of tangible fixed assets (40,746 ) (26,906 )
Sale of tangible fixed assets - 1,493
Interest received 72,369 175,464
Net cash from investing activities 31,623 150,051

Cash flows from financing activities
Equity dividends paid (6,000,000 ) -
Net cash from financing activities (6,000,000 ) -

Increase in cash and cash equivalents 158,847 2,303,912
Cash and cash equivalents at
beginning of year

2

5,949,493

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 1,140,652 1,384,984
Depreciation charges 114,220 133,191
Loss/(profit) on disposal of fixed assets 10,586 (1,493 )
Finance income (72,369 ) (175,464 )
1,193,089 1,341,218
(Increase)/decrease in stocks (515,262 ) 230,248
Decrease in trade and other debtors 3,947,711 1,817,244
Increase/(decrease) in trade and other creditors 1,363,871 (565,076 )
Cash generated from operations 5,989,409 2,823,634

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
5,949,493 158,847 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 private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents sales of goods and services supplied in the year, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% and 33.3% straight line and at varying rates on cost

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 16,287,188 15,186,877
Europe 1,225,917 1,016,061
17,513,105 16,202,938

4. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 2,460,010 2,224,509
Social security costs 387,788 351,696
Other pension costs 182,624 162,558
3,030,422 2,738,763

The average number of employees during the year was as follows:
2024 2023

Administration, technical and sales 35 35

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 6,044 5,914
Depreciation - owned assets 114,534 131,698
Loss on disposal of fixed assets 10,586 -
Auditors' remuneration 26,112 26,244
Foreign exchange differences 62,687 1,804

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 309,977 345,665

Deferred tax (15,519 ) (20,516 )
Tax on profit 294,458 325,149

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 1,140,652 1,384,984
Profit multiplied by the standard rate of corporation tax in the UK of
25% (2023 - 23%)

285,163

318,546

Effects of:
Expenses not deductible for tax purposes 8,992 5,601
Depreciation in excess of capital allowances 15,822 21,349
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 6,000,000 -

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 1,133,053
Additions 40,746
Disposals (10,272 )
At 30 November 2024 1,163,527
DEPRECIATION
At 1 December 2023 774,477
Charge for year 114,534
At 30 November 2024 889,011
NET BOOK VALUE
At 30 November 2024 274,516
At 30 November 2023 358,576

9. STOCKS
2024 2023
£    £   
Stocks 2,076,239 1,560,977

10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 3,615,474 3,399,299
Other debtors 49,975 14,152
Tax 722,166 1,169,958
Prepayments and accrued income 163,482 175,612
4,551,097 4,759,021

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 43,575 107,227
Amounts owed to group undertakings 4,021,448 4,258,409
Social security and other taxes 133,287 -
VAT 655,271 344,618
Other creditors 32,341 34,272
Accruals and deferred income 4,762,161 3,539,686
9,648,083 8,284,212

13. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 265,065 198,228
Between one and five years 342,282 246,164
607,347 444,392

14. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 45,724 61,243

Deferred
tax
£   
Balance at 1 December 2023 61,243
Credit to Income Statement during year (15,519 )
Balance at 30 November 2024 45,724

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: £    £   
199,999 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 8,270,192
Profit for the year 846,194
Dividends (6,000,000 )
At 30 November 2024 3,116,386

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.