Hamilton Financial Options Limited 31/10/2022 iXBRL

HAMILTON FINANCIAL OPTIONS LIMITED - Company Information

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Company registration number: 07806301

HAMILTON FINANCIAL OPTIONS LIMITED

31 October 2022

HEYWOODS

Chartered Accountants

Countrywide House

Knights Way

Shrewsbury

Shropshire

SY1 3AB

HAMILTON FINANCIAL OPTIONS LIMITED

Contents

Directors and other information

Accountants report

Statement of financial position

Statement of changes in equity

Notes to the financial statements

HAMILTON FINANCIAL OPTIONS LIMITED

DIRECTORS AND OTHER INFORMATION


	Director	Mr C E Hamilton


	Company number	07806301


	Registered office	Nobold Farm
		Nobold Lane
		Nobold
		Shrewsbury
		SY5 8NW


	Business address	Nobold Farm
		Nobold Lane
		Nobold
		Shrewsbury
		SY5 8NW


	Accountants	Heywoods
		Countrywide House
		Knights Way
		Shrewsbury
		Shropshire
		SY1 3AB

HAMILTON FINANCIAL OPTIONS LIMITED

CHARTERED ACCOUNTANTS REPORT TO THE DIRECTOR ON THE PREPARATION OF THE

UNAUDITED STATUTORY FINANCIAL STATEMENTS OF HAMILTON FINANCIAL OPTIONS LIMITED

YEAR ENDED 31 OCTOBER 2022

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Hamilton Financial Options Limited for the year ended 31 October 2022 as set out on pages 5 to 11 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 /en/members/regulations-standards-and-guidance/.

This report is made solely to the director of Hamilton Financial Options Limited, as a body, in accordance with the terms of our engagement letter dated 24 May 2018. Our work has been undertaken solely to prepare for your approval the financial statements of Hamilton Financial Options Limited and state those matters that we have agreed to state to them, 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 Hamilton Financial Options Limited and its director as a body for our work or for this report.

It is your duty to ensure that Hamilton Financial Options Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Hamilton Financial Options Limited. You consider that Hamilton Financial Options 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 financial statements of Hamilton Financial Options 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 financial statements.

Heywoods

Chartered Accountants

Countrywide House

Knights Way

Shrewsbury

Shropshire

SY1 3AB

9 February 2023

HAMILTON FINANCIAL OPTIONS LIMITED

STATEMENT OF FINANCIAL POSITION

31 OCTOBER 2022

		2022		2021
	Note	£	£	£	£

Fixed assets
Tangible assets	5	4,378		5,450
Investments	6	154,849		259,189
		_______		_______
			159,227		264,639

Current assets
Debtors	7	5,284		18,235
Cash at bank and in hand		159,563		83,831
		_______		_______
		164,847		102,066
Creditors: amounts falling due
within one year	8	( 17,256)		( 53,488)
		_______		_______
Net current assets			147,591		48,578
			_______		_______
Total assets less current liabilities			306,818		313,217


Provisions for liabilities			( 9,995)		( 19,364)

			_______		_______
Net assets			296,823		293,853
			_______		_______

Capital and reserves
Called up share capital			1		1
Profit and loss account			296,822		293,852
			_______		_______
Shareholders funds			296,823		293,853
			_______		_______

For the year ending 31 October 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 02 February 2023 , and are signed on behalf of the board by:

Mr C E Hamilton

Director

Company registration number: 07806301

HAMILTON FINANCIAL OPTIONS LIMITED

STATEMENT OF CHANGES IN EQUITY

YEAR ENDED 31 OCTOBER 2022

	Called up share capital	Profit and loss account	Total
	£	£	£


At 1 November 2020	1	198,645	198,646

Profit for the year		125,207	125,207
	_______	_______	_______
Total comprehensive income for the year	-	125,207	125,207

Dividends paid and payable		( 30,000)	( 30,000)
	_______	_______	_______
Total investments by and distributions to owners	-	( 30,000)	( 30,000)

	_______	_______	_______
At 31 October 2021 and 1 November 2021	1	293,852	293,853

Profit for the year		36,470	36,470
	_______	_______	_______
Total comprehensive income for the year	-	36,470	36,470

Dividends paid and payable		( 33,500)	( 33,500)
	_______	_______	_______
Total investments by and distributions to owners	-	( 33,500)	( 33,500)

	_______	_______	_______
At 31 October 2022	1	296,822	296,823
	_______	_______	_______

HAMILTON FINANCIAL OPTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 OCTOBER 2022

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Nobold Farm, Nobold Lane, Nobold, Shrewsbury, SY5 8NW.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for services supplied, net of discounts.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.

Tangible assets

tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:


Fittings fixtures and equipment	-	15 %	reducing balance

Fixed asset investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 1 (2021: 1 ).

5. Tangible assets

	Fixtures, fittings and equipment	Total
	£	£
Cost
At 1 November 2021	8,860	8,860
Additions	599	599
Disposals	( 1,046)	( 1,046)
	_______	_______
At 31 October 2022	8,413	8,413
	_______	_______
Depreciation
At 1 November 2021	3,410	3,410
Charge for the year	726	726
Disposals	( 101)	( 101)
	_______	_______
At 31 October 2022	4,035	4,035
	_______	_______
Carrying amount
At 31 October 2022	4,378	4,378
	_______	_______
At 31 October 2021	5,450	5,450
	_______	_______

6. Investments

	Other investments other than loans	Total
	£	£
Cost or valuation
At 1 November 2021	259,190	259,190
Disposals	( 98,593)	( 98,593)
Revaluations	( 5,748)	( 5,748)
	_______	_______
At 31 October 2022	154,849	154,849
	_______	_______
Impairment
At 1 November 2021 and 31 October 2022	-	-
	_______	_______
Carrying amount
At 31 October 2022	154,849	154,849
	_______	_______
At 31 October 2021	259,190	259,190
	_______	_______

7. Debtors

	2022	2021
	£	£
Other debtors	5,284	18,235
	_______	_______

8. Creditors: amounts falling due within one year

	2022	2021
	£	£
Bank loans and overdrafts	-	66
Corporation tax	15,359	10,211
Other creditors	1,897	43,211
	_______	_______
	17,256	53,488
	_______	_______

9. Directors advances, credits and guarantees

	During the year the director entered into the following advances and credits with the company:

2022
		Balance brought forward	Amounts repaid	Balance o/standing
		£	£	£
	Mr C E Hamilton	( 1,226)	1,072	( 154)
		_______	_______	_______

2021
		Balance brought forward	Amounts repaid	Balance o/standing
		£	£	£
	Mr C E Hamilton	( 3,114)	1,888	( 1,226)
		_______	_______	_______