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Financial Statements for the Year Ended 31 March 2020 |
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William Hamilton & Sons |
(Contractors) Limited |
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Financial Statements for the Year Ended 31 March 2020 |
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for |
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William Hamilton & Sons |
(Contractors) Limited |
William Hamilton & Sons |
(Contractors) Limited (Registered number: SC122865) |
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Contents of the Financial Statements |
for the Year Ended 31 March 2020 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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William Hamilton & Sons |
(Contractors) Limited |
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Company Information |
for the Year Ended 31 March 2020 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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AUDITORS: |
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Statutory Auditors |
Chartered Accountants |
76 Dumbarton Road |
Clydebank |
Glasgow |
G81 1UG |
William Hamilton & Sons |
(Contractors) Limited (Registered number: SC122865) |
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Balance Sheet |
31 March 2020 |
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31.3.20 | 31.3.19 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 4 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 5 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital |
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Share premium |
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Capital redemption reserve |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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William Hamilton & Sons |
(Contractors) Limited (Registered number: SC122865) |
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Notes to the Financial Statements |
for the Year Ended 31 March 2020 |
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1. | STATUTORY INFORMATION |
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William Hamilton & Sons (Contractors) Limited is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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. |
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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. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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William Hamilton & Sons |
(Contractors) Limited (Registered number: SC122865) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2020 |
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4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.20 | 31.3.19 |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.20 | 31.3.19 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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6. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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7. | CONTINGENT LIABILITIES |
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A cross corporate guarantee exists between the company and its subsidiary company William Hamilton & Sons (Contractors) Limited. |
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8. | RELATED PARTY DISCLOSURES |
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Administrative expenses includes £35,000 (2019 - £35,000) for management services and cost of sales includes £314,173 (2019 - £237,378) supplied by Wm Hamilton & Sons Ltd, the parent company, at commercial rates. Income includes sales of £367,046 (2019 - £200,360) charged to the parent company. |
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Included within debtors is a balance due by the parent company, Wm Hamilton & Sons Limited, amounting to £292,755 (2019 - £244,594). |
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D Graham, D B Hamilton, G R Hamilton and R T Hamilton are also directors of Wm Hamilton & Sons Limited. |