Registration number: NI051642

Hamac Trading Company Limited

(Registration number: NI051642)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	5	22,685	45,200
Current assets
Stocks	6	812,900	895,250
Debtors	7	156,335	230,090
Cash at bank and in hand		2,592,566	1,900,399
		3,561,801	3,025,739
Creditors: due within one year	8	(822,866)	(709,916)
Net current assets		2,738,935	2,315,823
Total assets less current liabilities		2,761,620	2,361,023
Creditors: due after more than one year	9	(4,790)	(28,505)
Provisions for liabilities		(4,750)	(10,177)
Net assets		2,752,080	2,322,341
Capital and reserves
Called up share capital	10	100	100
Retained earnings		2,751,980	2,322,241
Shareholders' funds		2,752,080	2,322,341

For the financial year ending 31 December 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Hamac Trading Company Limited

(Registration number: NI051642)
Balance Sheet as at 31 December 2024

Approved and authorised by the Board on 11 September 2025 and signed on its behalf by:
 

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

Mr Brian Hamilton

Director

Hamac Trading Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1	General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is:
29 Church Road
Ballymena
Co Antrim
BT42 3EQ

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 except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services 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 at the point of supply when the amount of revenue can be reliably measured and it is probable that future economic benefits will flow to the entity.

Taxation

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 tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date.

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Hamac Trading Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Motor vehicles	20% straight line
Plant and equipment	20% straight line

Goodwill

Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised over its useful life.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Goodwill	20% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Short-term debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the Profit and Loss Account under operating expenses.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

Hamac Trading Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

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.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 16 (2023 - 15).

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 January 2024	8,350	8,350
At 31 December 2024	8,350	8,350
Amortisation
At 1 January 2024	8,350	8,350
At 31 December 2024	8,350	8,350
Carrying amount
At 31 December 2024	-	-

Hamac Trading Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

5	Tangible assets

	Motor vehicles  £	Plant & equipment £	Total £
Cost or valuation
At 1 January 2024	46,375	342,882	389,257
Additions	-	425	425
At 31 December 2024	46,375	343,307	389,682
Depreciation
At 1 January 2024	46,375	297,682	344,057
Charge for the year	-	22,940	22,940
At 31 December 2024	46,375	320,622	366,997
Carrying amount
At 31 December 2024	-	22,685	22,685
At 31 December 2023	-	45,200	45,200

6

Stocks

	2024 £	2023 £
Finished goods and goods for resale	812,900	895,250

7

Debtors

	2024 £	2023 £
Trade debtors	64,296	69,918
Prepayments	47,891	83,691
Other debtors	44,148	76,481
	156,335	230,090

Hamac Trading Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

8	Creditors: due within one year

	2024 £	2023 £
Loans and borrowings	9,890	18,387
Trade creditors	447,189	458,893
Taxation and social security	284,222	217,965
Accruals and deferred income	10,879	9,404
Other creditors	70,686	5,267
	822,866	709,916

9	Creditors: due after more than one year

	2024 £	2023 £
Bank borrowings	4,790	15,033
Other borrowings	-	13,472
	4,790	28,505

10	Share capital

Allotted, called up and fully paid shares

	2024		2023
	No.	£	No.	£
Ordinary shares of £1 each	100	100	100	100