Hamish Dewar Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03816777 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2020

for

Hamish Dewar Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

H R J Dewar

SECRETARY:

Mrs A M Dewar

REGISTERED OFFICE:

Bank Chambers

Brook Street

Bishops Waltham

Southampton

Hampshire

SO32 1AX

REGISTERED NUMBER:

03816777 (England and Wales)

ACCOUNTANTS:

Behegan Lynes

Accountancy & Taxation Advisers

Bank Chambers

Brook Street

Bishops Waltham

Hampshire

SO32 1AX

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

13,633

17,495

13,633

17,495

CURRENT ASSETS

Stocks

41,828

106,247

Debtors

6

1,086,363

988,439

Cash at bank and in hand

53,180

17,491

1,181,371

1,112,177

CREDITORS

Amounts falling due within one year

7

226,958

287,569

NET CURRENT ASSETS

954,413

824,608

TOTAL ASSETS LESS CURRENT LIABILITIES

968,046

842,103

CREDITORS

Amounts falling due after more than one year

8

(105,124

)

(95,841

)

PROVISIONS FOR LIABILITIES

11

(2,213

)

(2,864

)

NET ASSETS

860,709

743,398

CAPITAL AND RESERVES

Called up share capital

12

14

14

Retained earnings

13

860,695

743,384

SHAREHOLDERS' FUNDS

860,709

743,398

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 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 applicable to companies subject to the small companies regime.

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

The financial statements were approved by the director and authorised for issue on 28 September 2021 and were signed by:

H R J Dewar - Director

1.	STATUTORY INFORMATION

Hamish Dewar 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 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.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Short leasehold

-

10% on cost

Leasehold improvements

-

10% on cost

Plant & machinery

-

15% on reducing balance

Office fixtures & equipment

-

33% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Debtors

Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors

Short term creditors are measured at the transaction price.

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.

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.

Employee benefits

Short term employee benefits, including holiday pay and other similar non monetary benefits, are recognised as an expense in the period in which they are incurred.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2019 - 12 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2020

and 31 December 2020

200,000

AMORTISATION

At 1 January 2020

and 31 December 2020

200,000

NET BOOK VALUE

At 31 December 2020

-

At 31 December 2019

-

5.	TANGIBLE FIXED ASSETS

Office

Short

Leasehold

Plant &

fixtures

leasehold

improvements

machinery

& equipment

Totals

£

£

£

£

£

COST

At 1 January 2020

7,000

28,334

60,762

6,878

102,974

Additions

-

-

747

1,235

1,982

Disposals

-

-

(866

)

-

(866

)

At 31 December 2020

7,000

28,334

60,643

8,113

104,090

DEPRECIATION

At 1 January 2020

7,000

26,233

48,518

3,728

85,479

Charge for year

-

2,101

1,888

1,447

5,436

Eliminated on disposal

-

-

(458

)

-

(458

)

At 31 December 2020

7,000

28,334

49,948

5,175

90,457

NET BOOK VALUE

At 31 December 2020

-

-

10,695

2,938

13,633

At 31 December 2019

-

2,101

12,244

3,150

17,495

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.20

31.12.19

£

£

Trade debtors

227,367

165,352

Other debtors

858,996

823,087

1,086,363

988,439

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.20

31.12.19

£

£

Bank loans and overdrafts

40,200

107,541

Trade creditors

13,162

16,932

Taxation and social security

115,946

68,844

Other creditors

57,650

94,252

226,958

287,569

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.20

31.12.19

£

£

Bank loans

55,124

95,841

Other creditors

50,000

-

105,124

95,841

31.12.20

31.12.19

£

£

Amounts falling due in more than five years:

Repayable by instalments

Other loans more 5yrs instal

50,000

-

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.12.20

31.12.19

£

£

Within one year

43,200

-

Between one and five years

-

100,800

43,200

100,800

10.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.20

31.12.19

£

£

Bank overdraft

-

69,534

Bank loans

95,324

133,848

95,324

203,382

The bank loans and overdraft are all secured by way of a personal guarantee from H Dewar, the sole director of the company.

11.	PROVISIONS FOR LIABILITIES

31.12.20

31.12.19

£

£

Deferred taxation

2,213

2,864

Deferred

tax

£

Balance at 1 January 2020

2,864

Movement in accelerated

capital allowances

(651

)

Balance at 31 December 2020

2,213

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.20

31.12.19

value:

£

£

14

Ordinary

£1

14

14

13.

RESERVES

Retained

earnings

£

At 1 January 2020

743,384

Profit for the year

488,311

Dividends

(371,000

)

At 31 December 2020

860,695

14.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2020 and 31 December 2019:

31.12.20

31.12.19

£

£

H R J Dewar

Balance outstanding at start of year

281,058

247,474

Amounts advanced

99,526

33,584

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

380,584

281,058

15.	RELATED PARTY DISCLOSURES