P.N. & M.P. Hamilton Limited - Period Ending 2021-01-31
P.N. & M.P. Hamilton Limited - Period Ending 2021-01-31
Registration number:
P.N. & M.P. Hamilton Limited
for the Year Ended 31 January 2021
P.N. & M.P. Hamilton Limited
Contents
Company Information |
|
Accountants' Report |
|
Balance Sheet |
|
Notes to the Financial Statements |
P.N. & M.P. Hamilton Limited
Company Information
Directors |
Mr Peter Noel Hamilton Mrs Mary Patricia Hamilton |
Company secretary |
Mrs Mary Patricia Hamilton |
Registered office |
|
Accountants |
|
Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
P.N. & M.P. Hamilton Limited
for the Year Ended 31 January 2021
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of P.N. & M.P. Hamilton Limited for the year ended 31 January 2021 as set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.
This report is made solely to the Board of Directors of P.N. & M.P. Hamilton Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of P.N. & M.P. Hamilton Limited and state those matters that we have agreed to state to the Board of Directors of P.N. & M.P. Hamilton Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than P.N. & M.P. Hamilton Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that P.N. & M.P. Hamilton Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of P.N. & M.P. Hamilton Limited. You consider that P.N. & M.P. Hamilton 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 accounts of P.N. & M.P. Hamilton 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 accounts.
......................................
6 Houndiscombe Road
Plymouth
Devon
PL4 6HH
P.N. & M.P. Hamilton Limited
(Registration number: 01318678)
Balance Sheet as at 31 January 2021
Note |
2021 |
2020 |
|
Fixed assets |
|||
Tangible assets |
|
|
|
Investment property |
|
|
|
|
|
||
Current assets |
|||
Stocks |
|
|
|
Debtors |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Net current liabilities |
( |
( |
|
Total assets less current liabilities |
|
|
|
Provisions for liabilities |
( |
( |
|
Net assets |
|
|
|
Capital and reserves |
|||
Called up share capital |
|
|
|
Other reserves |
|
|
|
Profit and loss account |
|
|
|
Shareholders' funds |
|
|
P.N. & M.P. Hamilton Limited
(Registration number: 01318678)
Balance Sheet as at 31 January 2021
For the financial year ending 31 January 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
|
• |
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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
......................................... |
P.N. & M.P. Hamilton Limited
Notes to the Financial Statements for the Year Ended 31 January 2021
General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
United Kingdom
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 using the historic cost convention except as disclosed in the accounting policies certain items are shown at fair value. The financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Going concern
The accounts have been prepared on a going concern basis as the directors will continue to provide financial support when necessary to the company. The directors have reviewed the position for the 12 months from the date the accounts were approved and in their opinion their ongoing financial support will be adequate to support the company until it is in a position to show positive financial results.
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 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.
P.N. & M.P. Hamilton Limited
Notes to the Financial Statements for the Year Ended 31 January 2021
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
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 balance sheet 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 |
Buildings |
2% straight line |
Plant and equipment |
25% reducing balance |
Holiday let fixtures and fittings |
15% reducing balance |
Office and computer equipment |
33% straight line |
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Profit before tax |
Arrived at after charging/(crediting)
2021 |
2020 |
|
Depreciation expense |
|
|
P.N. & M.P. Hamilton Limited
Notes to the Financial Statements for the Year Ended 31 January 2021
Tangible assets |
Freehold land and buildings |
Furniture, fittings and equipment |
Other property, plant and equipment |
Total |
|
Cost or valuation |
||||
At 1 February 2020 |
|
|
|
|
At 31 January 2021 |
|
|
|
|
Depreciation |
||||
At 1 February 2020 |
|
|
|
|
Charge for the year |
|
|
|
|
At 31 January 2021 |
|
|
|
|
Carrying amount |
||||
At 31 January 2021 |
|
|
|
|
At 31 January 2020 |
|
|
|
|
P.N. & M.P. Hamilton Limited
Notes to the Financial Statements for the Year Ended 31 January 2021
Investment properties |
2021 |
|
At 1 February |
|
At 31 January |
|
The investment properties were valued by the directors during the year ended 31 January 2021 and no change was required to the above figure. The directors' valuation is based on local knowledge and no independent valuations were undertaken.
Stocks |
2021 |
2020 |
|
Other inventories |
|
|
Debtors |
2021 |
2020 |
|
Other debtors |
|
|
|
|
Creditors |
Creditors: amounts falling due within one year
Note |
2021 |
2020 |
|
Due within one year |
|||
Trade creditors |
|
|
|
Other creditors |
|
|
|
|
|