Hamilton Industrial Services Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC284171 (Scotland)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2019

FOR

HAMILTON INDUSTRIAL SERVICES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DIRECTOR:

R Bennett

SECRETARY:

REGISTERED OFFICE:

1 Tennant Avenue

College Milton South

East Kilbride

G74 5NA

REGISTERED NUMBER:

SC284171 (Scotland)

ACCOUNTANTS:

Mark Toma & Company Limited

Chartered Accountants & Business Advisers

48 Nithsdale Road

Glasgow

G41 2AN

FIXED ASSETS

Tangible assets

4

98,887

119,342

CURRENT ASSETS

Debtors

5

285,920

293,891

Cash at bank and in hand

1,841

10,298

287,761

304,189

CREDITORS

Amounts falling due within one year

6

215,717

244,542

NET CURRENT ASSETS

72,044

59,647

TOTAL ASSETS LESS CURRENT LIABILITIES

170,931

178,989

CREDITORS

Amounts falling due after more than one year

7

(13,295

)

(2,417

)

PROVISIONS FOR LIABILITIES

(9,634

)

(10,104

)

NET ASSETS

148,002

166,468

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

148,000

166,466

SHAREHOLDERS' FUNDS

148,002

166,468

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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 director on 30 September 2019 and were signed by:

R Bennett - Director

1.	STATUTORY INFORMATION

Hamilton Industrial Services Limited is a private company, limited by shares , registered in Scotland. 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.

Plant and machinery etc

-

33% on cost, 25% on cost, 20% on reducing balance and 10% on cost

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.

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.

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.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 28 (2018 - 25 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 August 2018

761,778

Additions

17,933

Disposals

(58,860

)

At 31 July 2019

720,851

DEPRECIATION

At 1 August 2018

642,436

Charge for year

24,857

Eliminated on disposal

(45,329

)

At 31 July 2019

621,964

NET BOOK VALUE

At 31 July 2019

98,887

At 31 July 2018

119,342

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 August 2018

85,960

Additions

17,933

Disposals

(23,860

)

At 31 July 2019

80,033

DEPRECIATION

At 1 August 2018

45,939

Charge for year

9,648

Eliminated on disposal

(14,087

)

At 31 July 2019

41,500

NET BOOK VALUE

At 31 July 2019

38,533

At 31 July 2018

40,021

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.19

31.7.18

£

£

Trade debtors

275,420

283,773

Other debtors

10,500

10,118

285,920

293,891

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.19

31.7.18

£

£

Bank loans and overdrafts

48,220

53,457

Hire purchase contracts

10,716

34,706

Trade creditors

44,097

52,932

Taxation and social security

47,280

69,699

Other creditors

65,404

33,748

215,717

244,542

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.7.19

31.7.18

£

£

Hire purchase contracts

13,295

2,417

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.7.19

31.7.18

£

£

Bank overdrafts

48,220

53,457

Hire purchase contracts

24,011

37,123

72,231

90,580

Loans and overdrafts are secured by a bond and floating charge over the company's assets.

Hire purchase creditors are secured over the assets to which they relate.

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

Included in other creditors are loans by the director.

The following reproduces the text of the report prepared for the director in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the

Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Hamilton Industrial Services Limited for the year ended 31 July 2019 which comprise the

Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records

and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the director of Hamilton Industrial Services Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Hamilton Industrial Services Limited and state those matters that we have agreed to state to the director of Hamilton Industrial Services Limited in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Hamilton Industrial Services Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Hamilton Industrial Services Limited. You consider that Hamilton Industrial Services Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Hamilton Industrial Services Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Mark Toma & Company Limited

Chartered Accountants & Business Advisers

48 Nithsdale Road

Glasgow

G41 2AN

30 September 2019