G Hamson & Son Limited - Accounts to registrar (filleted) - small 23.1.2
G Hamson & Son Limited - Accounts to registrar (filleted) - small 23.1.2
REGISTERED NUMBER: |
G Hamson & Son Limited |
Unaudited Financial Statements |
for the Year Ended 30 September 2022 |
G Hamson & Son Limited (Registered number: 00819212) |
Contents of the Financial Statements |
for the year ended 30 September 2022 |
Page |
Company Information | 1 |
Balance Sheet | 2 | to | 3 |
Notes to the Financial Statements | 4 | to | 6 |
G Hamson & Son Limited |
Company Information |
for the year ended 30 September 2022 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Pacioli House |
9 Brookfield |
Duncan Close |
Northampton |
Northamptonshire |
NN3 6WL |
G Hamson & Son Limited (Registered number: 00819212) |
Balance Sheet |
30 September 2022 |
2022 | 2021 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
G Hamson & Son Limited (Registered number: 00819212) |
Balance Sheet - continued |
30 September 2022 |
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 |
G Hamson & Son Limited (Registered number: 00819212) |
Notes to the Financial Statements |
for the year ended 30 September 2022 |
1. | STATUTORY INFORMATION |
G Hamson & Son Limited is a |
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 |
Freehold property | - |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
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. |
G Hamson & Son Limited (Registered number: 00819212) |
Notes to the Financial Statements - continued |
for the year ended 30 September 2022 |
2. | ACCOUNTING POLICIES - continued |
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 |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | Plant and | and | Motor |
property | machinery | fittings | vehicles | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 October 2021 |
Additions |
At 30 September 2022 |
DEPRECIATION |
At 1 October 2021 |
Charge for year |
At 30 September 2022 |
NET BOOK VALUE |
At 30 September 2022 |
At 30 September 2021 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade debtors |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
G Hamson & Son Limited (Registered number: 00819212) |
Notes to the Financial Statements - continued |
for the year ended 30 September 2022 |
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 | 2022 | 2021 |
value: | £ | £ |
Ordinary shares | £1 | 1,000 | 1,000 |
9. | RELATED PARTY DISCLOSURES |
The amount owing to persons with significant control was £13,186 (2021 £14,191). 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. |