Hamilton (Building Contractors) Limited - Accounts to registrar (filleted)

HAMILTON (BUILDING CONTRACTORS) LTD.

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

R T Storton

D Mackie

Mrs M Storton

REGISTERED OFFICE:

7A Sapper Jordan Rossi Park

BAILDON

West Yorkshire

BD17 7AX

REGISTERED NUMBER:

03297091 (England and Wales)

AUDITORS:

Wilkinson and Partners

Chartered Accountants

Statutory Auditors

Fairfax House

6a Mill Field Road

Cottingley Business Park

Bradford

West Yorkshire

BD16 1PY

FIXED ASSETS

Tangible assets

4

1,588,238

771,753

CURRENT ASSETS

Stocks

321,985

253,226

Debtors

5

7,560,237

2,151,623

Cash at bank

2,247,883

977,671

10,130,105

3,382,520

CREDITORS

Amounts falling due within one year

6

7,118,294

1,456,159

NET CURRENT ASSETS

3,011,811

1,926,361

TOTAL ASSETS LESS CURRENT LIABILITIES

4,600,049

2,698,114

CREDITORS

Amounts falling due after more than one
year

7

(325,385

)

(164,273

)

PROVISIONS FOR LIABILITIES

10

(149,055

)

(121,366

)

NET ASSETS

4,125,609

2,412,475

CAPITAL AND RESERVES

Called up share capital

11

1

Capital redemption reserve

12

1

Retained earnings

12

4,125,607

2,412,473

SHAREHOLDERS' FUNDS

4,125,609

2,412,475

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2025 and were signed on its behalf by:

R T Storton - Director

1.	STATUTORY INFORMATION

Hamilton (Building Contractors) 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.

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold property

-

2% on cost

Improvements to property

-

10% on cost

Office equipment & furniture

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

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 Statement of Income and Retained Earnings, 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 32 (2023 - 31 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Office

Freehold

to

equipment

Motor

property

& furniture

vehicles

Totals

£

COST

At 1 January 2024

-

92,822

182,043

1,103,240

1,378,105

Additions

614,900

-

55,389

480,316

1,150,605

Disposals

-

(90,714

)

(90,714

)

At 31 December 2024

614,900

92,822

237,432

1,492,842

2,437,996

DEPRECIATION

At 1 January 2024

-

27,840

115,456

463,056

606,352

Charge for year

6,149

9,280

18,296

273,372

307,097

Eliminated on disposal

-

(63,691

)

(63,691

)

At 31 December 2024

6,149

37,120

133,752

672,737

849,758

NET BOOK VALUE

At 31 December 2024

608,751

55,702

103,680

820,105

1,588,238

At 31 December 2023

-

64,982

66,587

640,184

771,753

The net book value of tangible fixed assets includes £ 596,871 (2023 - £ 401,052 ) in respect of assets held under hire purchase contracts.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Trade debtors

7,205,285

1,887,376

Other debtors

8,324

11,246

VAT

166,540

100,968

Prepayments

180,088

152,033

7,560,237

2,151,623

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Hire purchase contracts (see note 8)

278,983

166,004

Trade creditors

4,764,321

139,685

Tax

761,196

348,813

Social security and other taxes

176,726

219,637

Other creditors

713,682

-

Directors' current accounts

356,636

532,350

Accruals & sundry creditors

66,750

49,670

7,118,294

1,456,159

The loans from directors are interest free and repayable on demand.

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

Hire purchase contracts (see note 8)

325,385

164,273

8.	LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

31.12.24

31.12.23

£

Net obligations repayable:

Within one year

278,983

166,004

Between one and five years

325,385

164,273

604,368

330,277

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.24

31.12.23

£

Hire purchase contracts

604,368

330,277

The hire purchase debt is secured by a charge over the assets which are the subject of the agreement.

10.	PROVISIONS FOR LIABILITIES

31.12.24

31.12.23

£

Deferred tax

149,055

121,366

Deferred

tax

£

Balance at 1 January 2024

121,366

Accelerated capital allowances

27,689

Balance at 31 December 2024

149,055

The entire provision for deferred taxation is in respect of accelerated capital allowances.

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully
paid:

Number:

Class:

Nominal value:

31.12.24

31.12.23

£

51

Ordinary A

1p

0.51

0.57

30

Ordinary B

1p

0.30

0.20

19

Ordinary C

1p

0.19

0.23

1.00

12.

RESERVES

Capital

Retained

redemption

earnings

reserve

Totals

£

At 1 January 2024

2,412,473

1

2,412,474

Profit for the year

2,298,134

Dividends

(585,000

)

(585,000

)

At 31 December 2024

4,125,607

1

4,125,608

13.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was qualified on the following basis:

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.

Paul Raistrick (Senior Statutory Auditor)

for and on behalf of Wilkinson and Partners

16.	RELATED PARTY DISCLOSURES

JNR Contracting Limited - a company in which Mr R Storton is a director and

shareholder.

Sales made during the period £8,628 (2023: £37,758)

Purchases made during the period £22,930 (2023: £201,433)

Debtor at 31 December 2024 £10,354 (2023: £12,562l)

Creditor at 31 December 2024 £Nil (2023: £Nil)

All transactions were made on normal commercial terms.

During the period a loan was advanced from JNR Contracting Ltd of £50,000. The loan was interest free and repaid in full on 5 February 2025.

Dividends paid during the year to shareholders who were also directors amounted to £585,000 (2023: £750,000).

17.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is R T Storton.