Hamilton Deed Limited
Hamilton Deed Limited
Registered number: 05530220
Directors' Report and
Unaudited Financial Statements
For The Year Ended 31 December 2016
Colin Stacey Associates
Chartered Accountants
39 Silk Mill Road
Redbourn
St Albans
Hertfordshire
AL3 7GE
Hamilton Deed Limited
Directors' Report and Unaudited Financial Statements
For The Year Ended 31 December 2016
Directors' Report and Unaudited Financial Statements
| Contents | |
| Page | |
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| Company Information | 1 |
| Directors' Report | 2 |
| Accountants' Report | 3 |
| Profit and Loss Account | 4 |
| Balance Sheet | 5 |
| Statement of Changes in Equity | 7 |
| Notes to the Financial Statements | 8—11 |
Hamilton Deed Limited
Company Information
For The Year Ended 31 December 2016
Company Information
| Directors |
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| Company Number |
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| Registered Office | 174 Ember Lane |
| East Molesey | |
| Surrey | |
| KT8 0BS | |
| Accountants |
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| Chartered Accountants | |
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| Redbourn | |
| St Albans | |
| Hertfordshire | |
| AL3 7GE | |
Page 1
Hamilton Deed Limited
Company No. 05530220
Directors' Report For The Year Ended 31 December 2016
Directors' Report
The directors present their report and the financial statements for the year ended 31 December 2016 .
Statement of Directors' Responsibilities
The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing the financial statements the directors are required to:
- select suitable accounting policies and then apply them consistently;
- make judgments and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Directors
The directors who held office during the year were as follows:
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RESIGNED |
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RESIGNED |
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Small Company Rules
This report has 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.
On behalf of the board
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Page 2
Hamilton Deed Limited
Accountants' Report
For The Year Ended 31 December 2016
Accountants' Report
Chartered Accountants' review report to the directors on the preparation of the unaudited statutory accounts of Hamilton Deed Limited For The Year Ended 31 December 2016
We have reviewed the financial statements of Hamilton Deed Limited for the year ended 31 December 2016, which comprise the Profit and Loss Account, Balance Sheet and the related notes 1 to 16. The financial reporting framework that has been applied in their preparation is applicable law and the Financial Reporting Standard 102 Section 1A for Small Entities (effective January 2016) (United Kingdom Generally Accepted Accounting Practice applicable to Smaller Entities).
This report is made solely to the Company's directors, as a body, in accordance with the terms of our engagement letter. Our review has been undertaken so that we may state to the company’s directors those matters which we have agreed with them in our engagement letter and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's directors as a body for our work, for this report or the conclusions we have formed.
Directors’ Responsibility for the Financial Statements
As explained more fully in the Directors’ Responsibilities Statement set out on page 5, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view.
Accountants’ Responsibility
Our responsibility is to express a conclusion based on our review of the financial statements. We conducted our review in accordance with International Standard on Review Engagements (ISRE) 2400 (Revised), Engagements to review historical financial statements and ICAEW Technical Release TECH 09/13AAF Assurance review engagements on historical financial statements. ISRE 2400 also requires us to comply with the ICAEW Code of Ethics.
Scope of the Assurance Review
A review of financial statements in accordance with ISRE 2400 (Revised) is a limited assurance engagement. We have performed additional procedures to those required under a compilation engagement. These primarily consist of making enquiries of management and others within the entity, as appropriate, applying analytical procedures and evaluating the evidence obtained. The procedures performed in a review are substantially less than those performed in an audit conducted in accordance with International Standards on Auditing (UK and Ireland). Accordingly, we do not express an audit opinion on these financial statements.
Conclusion
Based on our review, nothing has come to our attention that causes us to believe that the financial statements have not been prepared:
• so as to give a true and fair view of the state of the company’s affairs as at 31 December 2016, and of its profit for the year then ended;
• in accordance with United Kingdom Generally Accepted Accounting Practice applicable to Smaller Entities; and
• in accordance with the requirements of the Companies Act 2006.
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Chartered Accountants
39 Silk Mill Road
Redbourn
St Albans
Hertfordshire
AL3 7GE
Page 3
Hamilton Deed Limited
Profit and Loss Account
For The Year Ended 31 December 2016
Profit and Loss Account
| 2016 | 2015 | |||
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| Notes | £ | £ | ||
| TURNOVER | 2 |
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| Cost of sales |
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| GROSS PROFIT |
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| Administrative expenses |
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| OPERATING PROFIT | 3 |
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| Interest payable and similar charges | 7 |
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| PROFIT BEFORE TAXATION |
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| Tax on profit | 8 |
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| PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR |
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The notes on pages 8 to 11 form part of these financial statements.
Page 4
Hamilton Deed Limited
Balance Sheet
As at
31 December 2016
Balance Sheet
| 2016 | 2015 | ||||
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| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 9 |
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| CURRENT ASSETS | |||||
| Debtors | 10 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 11 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 12 |
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| Profit and loss account |
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| SHAREHOLDERS' FUNDS | 55,596 | 123,192 | |||
Directors' responsibilities:
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The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. -
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. -
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
On behalf of the board
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Page 5
Hamilton Deed Limited
Balance Sheet (continued)
As at
31 December 2016
The notes on pages 8 to 11 form part of these financial statements.
Page 6
Hamilton Deed Limited
Statement of Changes in Equity
For The Year Ended 31 December 2016
Statement of Changes in Equity
| Share Capital | Profit & Loss Account | Total | |
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| £ | £ | £ | |
| As at 1 January 2015 |
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81,577 |
| Profit for the year and total comprehensive income | - |
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140,615 |
| Dividends paid | - | (99,000) | (99,000) |
| As at 31 December 2015 and 1 January 2016 |
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123,192 |
| Profit for the year and total comprehensive income | - |
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62,184 |
| Dividends paid | - | (129,780) | (129,780) |
| As at |
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55,596 |
Page 7
Hamilton Deed Limited
Notes to the Unaudited Accounts
For The Year Ended 31 December 2016
Notes to the Unaudited Accounts
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
The accounts have been prepared on a going concern basis. This is based on cash flow and profit projections prepared by the directors for the medium term.
1.2.
Turnover
Turnover comprises the invoiced value of services supplied by the company, net of Value Added Tax.
1.3.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Motor Vehicles |
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| Computer Equipment |
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Turnover by Geographic Analysis
Company turnover derived from markets outside the United Kingdom.
| 2016 | 2015 | ||
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| £ | £ | ||
| United Kingdom | 465,081 | 660,694 | |
| Rest of the world | 220,608 | 192,916 | |
| 685,689 | 853,610 | ||
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Operating Profit
| 2016 | 2015 | ||
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| Bad debts | (5,815) | 5,815 | |
| Directors' remuneration |
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| Depreciation of tangible fixed assets |
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Staff Costs
Staff costs, including directors' remuneration, were as follows:
| 2016 | 2015 | ||
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| Other pension costs |
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Page 8
Hamilton Deed Limited
Notes to the Unaudited Accounts (continued)
For The Year Ended 31 December 2016
5.
Average number of employees
Average number of employees, including directors, during the year was as follows:
| 2016 | 2015 | ||
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Directors' remuneration
| 2016 | 2015 | ||
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| Emoluments |
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| Company contributions to money purchase pension schemes |
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Retirement benefits are accruing to one director (2015: one) in respect of a money purchase scheme.
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Interest Payable
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| Bank loans and overdrafts |
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8.
Tax on Profit on Ordinary Activities
| Tax Rate | 2016 | 2015 | |||
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| 2016 | 2015 | £ | £ | ||
| UK Corporation Tax | 20% | 20% |
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| Total Current Tax Charge |
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| Profit on ordinary activities before tax | 78,336 | 160,155 | |||
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| Tax on profit at 20% (UK standard rate) |
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| Goodwill/depreciation not allowed for tax |
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| Expenses not deductible for tax purposes |
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| Tax losses |
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| Current tax charge for the period | 16,152 | 19,540 | |||
Page 9
Hamilton Deed Limited
Notes to the Unaudited Accounts (continued)
For The Year Ended 31 December 2016
9.
Tangible Assets
| Motor Vehicles | Computer Equipment | Total | |
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| Additions |
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| Disposals |
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| Depreciation | |||
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| Provided during the period |
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| Disposals |
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| Net Book Value | |||
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10.
Debtors
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| Trade debtors |
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| Other debtors |
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| Prepayments and accrued income |
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No debtors are due after more than one year.
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Creditors: Amounts Falling Due Within One Year
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| Trade creditors |
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| Bank loans and overdrafts |
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| Corporation tax |
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| VAT |
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| Other creditors and accruals |
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| Directors' loan accounts |
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No security has been given to any creditor.
Page 10
Hamilton Deed Limited
Notes to the Unaudited Accounts (continued)
For The Year Ended 31 December 2016
13.
Transactions With and Loans to Directors
At 31 December 2016 the company owed £31,008 to Mr AJ Murphy, a director (2015: £7,452).
14.
Dividends
| 2016 | 2015 | ||
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| Interim dividend paid |
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| Final dividend paid |
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| 129,780 | 99,000 | ||
A final dividend of £52.00 per Ordinary B share was declared on 19 December 2016.
15.
Ultimate Controlling Party
The company's ultimate controlling party is Mr AJ Murphy by virtue of his ownership of 55% of the issued ordinary A share capital of the company.
16.
General Information
Hamilton Deed Limited Registered number 05530220 is a limited by shares company incorporated in England & Wales. The Registered Office is 174 Ember Lane, East Molesey, Surrey, KT8 0BS.
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