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Registration number: 08766844

Hamilton Cars Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2024

 

Hamilton Cars Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Hamilton Cars Ltd

Company Information

Director

Mr A P Hamilton

Registered office

21 Pagewood Close
Maidenbower
Crawley
West Sussex
RH10 7ZL

Accountants

MJD Accounting Limited
Chartered Accountants165 Apex
West Green Drive
Crawley
West Sussex
RH11 7QL

 

Hamilton Cars Ltd

(Registration number: 08766844)
Balance Sheet as at 30 November 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

756

661

Current assets

 

Stocks

5

59,838

148,821

Debtors

6

48,993

40,964

Cash at bank and in hand

 

18,633

56,916

 

127,464

246,701

Creditors: Amounts falling due within one year

7

(76,977)

(213,943)

Net current assets

 

50,487

32,758

Total assets less current liabilities

 

51,243

33,419

Creditors: Amounts falling due after more than one year

7

(51,342)

(33,279)

Provisions for liabilities

(144)

(126)

Net (liabilities)/assets

 

(243)

14

Capital and reserves

 

Called up share capital

8

1

1

Retained earnings

(244)

13

Shareholders' (deficit)/funds

 

(243)

14

For the financial year ending 30 November 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 accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 30 August 2025
 

.......................................................

Mr A P Hamilton
Director

 

Hamilton Cars Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
21 Pagewood Close
Maidenbower
Crawley
West Sussex
RH10 7ZL

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention.

The presentational currency is sterling.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Hamilton Cars Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation.

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Computer and office equipment

25% straight line basis

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 2).

 

Hamilton Cars Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

4

Tangible assets

Computer & office equipment
£

Total
£

Cost or valuation

At 1 December 2023

6,261

6,261

Additions

360

360

At 30 November 2024

6,621

6,621

Depreciation

At 1 December 2023

5,600

5,600

Charge for the year

265

265

At 30 November 2024

5,865

5,865

Carrying amount

At 30 November 2024

756

756

At 30 November 2023

661

661

5

Stocks

2024
£

2023
£

Vehicle stock

59,838

148,821

6

Debtors

Current

2024
£

2023
£

Prepayments

7,296

5,164

Other debtors

41,697

35,800

 

48,993

40,964

 

Hamilton Cars Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

49,255

30,506

Trade creditors

 

3,803

94,646

Taxation and social security

 

4,148

5,463

Accruals and deferred income

 

17,679

47,123

Other creditors

 

2,092

36,205

 

76,977

213,943

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

51,342

33,279

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

1

1

1

1

       

9

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank borrowings

-

9,998

Other borrowings

49,255

20,508

49,255

30,506

 

Hamilton Cars Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

-

15,002

Other borrowings

51,342

18,277

51,342

33,279

10

Related party transactions

Directors advances, credits and guarantees

During the year ended 30 November 2024 the company advanced unsecured loans amounting to £20,903 (2023 - £11,494) to the director of the company. The interest rate on the loans was 2.25% (2023 - nil) and had no fixed repayment date. The company received repayments of £3,288 (2023 - £5,486).