G Hamson & Son Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 00819212 (England and Wales)

G Hamson & Son Limited

Unaudited Financial Statements

for the Year Ended 30 September 2021

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

6

DIRECTORS:

Mr D G Hamson

Mr M Hamson

Mrs D Hamson

SECRETARY:

Mrs D Hamson

REGISTERED OFFICE:

Harborough Road Garage

Brixworth

Northampton

Northamptonshire

NN6 9BX

REGISTERED NUMBER:

00819212 (England and Wales)

ACCOUNTANTS:

Clifford Roberts

Chartered Accountants

Pacioli House

9 Brookfield

Duncan Close

Northampton

Northamptonshire

NN3 6WL

FIXED ASSETS

Tangible assets

4

102,730

101,178

CURRENT ASSETS

Stocks

7,095

14,355

Debtors

5

76,266

41,295

Cash at bank

81,721

65,002

165,082

120,652

CREDITORS

Amounts falling due within one year

6

92,302

85,783

NET CURRENT ASSETS

72,780

34,869

TOTAL ASSETS LESS CURRENT LIABILITIES

175,510

136,047

PROVISIONS FOR LIABILITIES

4,102

3,895

NET ASSETS

171,408

132,152

CAPITAL AND RESERVES

Called up share capital

8

1,000

1,000

Retained earnings

170,408

131,152

SHAREHOLDERS' FUNDS

171,408

132,152

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 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 22 April 2022 and were signed on its behalf by:

Mr D G Hamson - Director

1.	STATUTORY INFORMATION

G Hamson & Son Limited 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 applicable United Kingdom accounting standards, including Financial Reporting Standard 102 section 1A - "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102 section 1A") and with the Companies Act 2006. The financial statements have been prepared on the historical cost basis.

The financial statements are presented in Sterling (£) and cover the period to the 30th September each year.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax or other sales taxes. The turnover is recognised on the completion of the work carried out for their customers.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

4% on cost

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% 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.

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.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method unless the effect of discounting would be immaterial, in which case they are stated at cost.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2020 - 8 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 October 2020

155,917

111,543

17,271

9,078

293,809

Additions

4,892

6,595

-

-

11,487

At 30 September 2021

160,809

118,138

17,271

9,078

305,296

DEPRECIATION

At 1 October 2020

75,241

92,354

17,083

7,953

192,631

Charge for year

4,431

5,177

46

281

9,935

At 30 September 2021

79,672

97,531

17,129

8,234

202,566

NET BOOK VALUE

At 30 September 2021

81,137

20,607

142

844

102,730

At 30 September 2020

80,676

19,189

188

1,125

101,178

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

63,064

29,963

Other debtors

13,202

11,332

76,266

41,295

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade creditors

47,636

40,231

Taxation and social security

27,900

26,071

Other creditors

16,766

19,481

92,302

85,783

7.	FINANCIAL RISK MANAGEMENT

The company has minimal exposure to foreign currency, market risk, credit risk, liquidity and cash flow risk due to the nature of its trade.

Foreign currency risk

The company has no exposure to foreign currency risks as all of the company's sales and purchases are denominated in sterling.

Credit risk

The company has exposure to credit risk but the majority of sales and paid for upon completion of the work and so the credit risk associated with these sales is reduced accordingly.

Liquidity risk

The directors have ultimate responsibility for liquidity risk management in maintaining adequate reserves and banking facilities.

Market risk

There is a market risk associated with the fluctuation in demand for the products and services provided. Most of this is mitigated by monitoring the market and undertaking decisions based thereon.

The company holds no derivative financial instruments at the year end.

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2021

2020

value:

£

£

1,000

Ordinary shares

£1

1,000

1,000

9.	RELATED PARTY DISCLOSURES

The amount owing to persons with significant control was £14,191 (2020 £15,485). There is no interest accruing and no fixed repayment terms, and so the amount is included within creditors less than one year.

10.	MORTGAGE CHARGES

The company has two charges outstanding, both in favour of Barclays bank plc, one being a legal charge over freehold property and the other being a debenture which includes a fixed and floating charge over all assets of the company.