P.N. & M.P. Hamilton Limited - Period Ending 2023-01-31

P.N. & M.P. Hamilton Limited

Contents

Company Information	1
Accountants' Report	2
Balance Sheet	3 to 4
Notes to the Financial Statements	5 to 8

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

6 Houndiscombe Road Plymouth Devon PL4 6HH

Accountants

Houndiscombe Consultants Limited T/A Condy Mathias Chartered Accountants 6 Houndiscombe Road Plymouth Devon PL4 6HH

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 2023

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 2023 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 loss 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.

......................................

Houndiscombe Consultants Limited
T/A Condy Mathias Chartered Accountants
6 Houndiscombe Road
Plymouth
Devon
PL4 6HH

8 June 2023

P.N. & M.P. Hamilton Limited

(Registration number: 01318678)
Balance Sheet as at 31 January 2023

	Note	2023 £	2022 £
Fixed assets
Tangible assets	4	195,985	195,448
Investment property	5	1,050,000	1,050,000
		1,245,985	1,245,448
Current assets
Stocks	6	200	200
Debtors	7	17,956	2,264
Cash at bank and in hand		6,344	24,479
		24,500	26,943
Creditors: Amounts falling due within one year	8	(5,524)	(13,880)
Net current assets		18,976	13,063
Total assets less current liabilities		1,264,961	1,258,511
Provisions for liabilities		(203,830)	(155,065)
Net assets		1,061,131	1,103,446
Capital and reserves
Called up share capital		61,942	61,942
Other reserves		580,424	580,424
Retained earnings		418,765	461,080
Shareholders' funds		1,061,131	1,103,446

P.N. & M.P. Hamilton Limited

(Registration number: 01318678)
Balance Sheet as at 31 January 2023

For the financial year ending 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	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 Board on 7 June 2023 and signed on its behalf by:
 

.........................................

Mr Peter Noel Hamilton

Director

P.N. & M.P. Hamilton Limited

Notes to the Financial Statements for the Year Ended 31 January 2023

1	General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
6 Houndiscombe Road
Plymouth
Devon
PL4 6HH
United Kingdom

2	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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of furnished holiday lettings.

The company recognises revenue at point of sale.

Government grants

Government grants are fair value of the grants received by the government to support the company in the ordinary course of the company's activities.

The company recognises government grant income when the amount of grant can be reliably measured, and it is highly probable that future economic benefits of the grant will flow to the company.

Where government grants are received for long-term commitments and expenses, the amount of grant received is time apportioned appropriately, and released to match the relevant cost each year.

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 2023

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

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

P.N. & M.P. Hamilton Limited

Notes to the Financial Statements for the Year Ended 31 January 2023

4	Tangible assets

	Freehold land and buildings £	Furniture, fittings and equipment  £	Other property, plant and equipment  £	Total £
Cost or valuation
At 1 February 2022	194,950	25,955	12,039	232,944
Additions	1,889	-	-	1,889
At 31 January 2023	196,839	25,955	12,039	234,833
Depreciation
At 1 February 2022	2,989	25,300	9,207	37,496
Charge for the year	543	99	710	1,352
At 31 January 2023	3,532	25,399	9,917	38,848
Carrying amount
At 31 January 2023	193,307	556	2,122	195,985
At 31 January 2022	191,961	655	2,832	195,448

5	Investment properties

Investment property is carried at fair value, derived from current market prices for comparable real estate determined annually by the directors, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss. Deferred tax is provided on these gains at the rate expected to apply when the property is sold.

	2023 £
At 1 February	1,050,000
At 31 January	1,050,000

6

Stocks

	2023 £	2022 £
Other inventories	200	200

P.N. & M.P. Hamilton Limited

Notes to the Financial Statements for the Year Ended 31 January 2023

7

Debtors

	2023 £	2022 £
Trade debtors	1,308	783
Prepayments	953	806
Other debtors	15,695	675
	17,956	2,264

8

Creditors

Creditors: amounts falling due within one year

	Note	2023 £	2022 £
Due within one year
Other creditors		5,524	13,880

9	Related party transactions

During the year, the company made cash advances to the directors totalling £28,382 and repayments totalling £8,829 were made. Interest is charged on the outstanding balance at the HMRC official rate. The amount owed to the company at the balance sheet date was £15,020 (2022 £4,534 creditor) and this amount is repayable on demand.