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REGISTERED NUMBER: 09166674 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 March 2023

for

HAZELDELL LTD

HAZELDELL LTD (REGISTERED NUMBER: 09166674)

Contents of the Financial Statements
for the year ended 31 March 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


HAZELDELL LTD

Company Information
for the year ended 31 March 2023







Directors: Mrs H K Sohal
Mr K I S Sohal
Mr K P Sohal





Registered office: 51 Parkstone Avenue
Emerson Park
Hornchurch
Essex
RM11 3LN





Registered number: 09166674 (England and Wales)





Accountants: Haines Watts Essex LLP
Chartered Accountants
Juniper House
Warley Hill Business Park
The Drive
Brentwood
Essex
CM13 3BE

HAZELDELL LTD (REGISTERED NUMBER: 09166674)

Statement of Financial Position
31 March 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Intangible assets 4 35,000 42,000
Tangible assets 5 7,502,391 7,364,111
7,537,391 7,406,111

Current assets
Debtors 6 196,438 275,556
Cash at bank and in hand 94,364 158,362
290,802 433,918
Creditors
Amounts falling due within one year 7 487,102 486,104
Net current liabilities (196,300 ) (52,186 )
Total assets less current liabilities 7,341,091 7,353,925

Creditors
Amounts falling due after more than one
year

8

(5,739,807

)

(5,976,669

)

Provisions for liabilities 11 (194,382 ) (153,043 )
Net assets 1,406,902 1,224,213

Capital and reserves
Called up share capital 12 3 3
Retained earnings 1,406,899 1,224,210
Shareholders' funds 1,406,902 1,224,213

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

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.

HAZELDELL LTD (REGISTERED NUMBER: 09166674)

Statement of Financial Position - continued
31 March 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 12 October 2023 and were signed on its behalf by:





Mr K P Sohal - Director


HAZELDELL LTD (REGISTERED NUMBER: 09166674)

Notes to the Financial Statements
for the year ended 31 March 2023


1. Statutory information

Hazeldell Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents the charges made to residents for care and related services. Such charges are exempt for VAT purposes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of thirteen years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - nil on land & buildings
Fixtures and fittings - 20% on reducing balance
Computer equipment - 20% on reducing balance

Financial instruments
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

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 statement of financial position date.


HAZELDELL LTD (REGISTERED NUMBER: 09166674)

Notes to the Financial Statements - continued
for the year ended 31 March 2023


2. Accounting policies - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. Employees and directors

The average number of employees during the year was 48 (2022 - 48 ) .

4. Intangible fixed assets
Goodwill
£   
Cost
At 1 April 2022
and 31 March 2023 91,583
Amortisation
At 1 April 2022 49,583
Amortisation for year 7,000
At 31 March 2023 56,583
Net book value
At 31 March 2023 35,000
At 31 March 2022 42,000

HAZELDELL LTD (REGISTERED NUMBER: 09166674)

Notes to the Financial Statements - continued
for the year ended 31 March 2023


5. Tangible fixed assets
Fixtures
Freehold and Computer
property fittings equipment Totals
£    £    £    £   
Cost
At 1 April 2022 7,297,826 179,876 6,722 7,484,424
Additions 36,540 142,776 803 180,119
At 31 March 2023 7,334,366 322,652 7,525 7,664,543
Depreciation
At 1 April 2022 - 117,747 2,566 120,313
Charge for year - 40,981 858 41,839
At 31 March 2023 - 158,728 3,424 162,152
Net book value
At 31 March 2023 7,334,366 163,924 4,101 7,502,391
At 31 March 2022 7,297,826 62,129 4,156 7,364,111

The directors carried out their annual review of the company's assets. They considered whether there were any adverse market or legal changes which could materially reduce the likely recoverable value of the property, or whether there was any evidence of physical deterioration or damage advised by any appraisers or professional consultants.

Having considered the facts, the directors are of the opinion that the potential residual value of the property will not be less than the values as shown in the company's accounts and as such depreciation should not be charged against the company's freehold property.

6. Debtors
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 126,422 49,579
Other debtors 11,859 12,666
138,281 62,245

Amounts falling due after more than one year:
Other debtors 58,157 213,311

Aggregate amounts 196,438 275,556

7. Creditors: amounts falling due within one year
2023 2022
£    £   
Bank loans and overdrafts 345,233 326,815
Trade creditors 42,540 66,145
Taxation and social security 56,732 56,732
Other creditors 42,597 36,412
487,102 486,104

HAZELDELL LTD (REGISTERED NUMBER: 09166674)

Notes to the Financial Statements - continued
for the year ended 31 March 2023


8. Creditors: amounts falling due after more than one year
2023 2022
£    £   
Bank loans 3,347,474 3,515,761
Other creditors 2,392,333 2,460,908
5,739,807 5,976,669

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 2,600,978 2,631,681

9. Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 4,320 4,320
Between one and five years 9,360 13,680
13,680 18,000

10. Secured debts

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 3,534,098 3,736,781

The company has provided security to its bankers, Barclays Bank PLC, by way of a negative pledge. This security is provided in respect of any monies due to the bank.

11. Provisions for liabilities
2023 2022
£    £   
Deferred tax 194,382 153,043

Deferred
tax
£   
Balance at 1 April 2022 153,043
Provided during year 41,339
Balance at 31 March 2023 194,382

12. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
3 Ordinary £1 3 3

HAZELDELL LTD (REGISTERED NUMBER: 09166674)

Notes to the Financial Statements - continued
for the year ended 31 March 2023


13. Directors' advances, credits and guarantees

The following advances and credits to directors subsisted during the years ended 31 March 2023 and 31 March 2022:

2023 2022
£    £   
Mr K P Sohal
Balance outstanding at start of year 2,027 2,027
Amounts repaid (2,027 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 2,027

Mrs H K Sohal and Mr K P Sohal
Balance outstanding at start of year (3,051 ) (3,051 )
Amounts advanced 427,765 -
Amounts repaid (432,477 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (7,763 ) (3,051 )

Mr K I S Sohal
Balance outstanding at start of year - -
Amounts advanced 348,418 -
Amounts repaid (355,503 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (7,085 ) -

14. Related party disclosures

During the year, the company charged The Willows Ipswich Limited £85,000 (2022 - £325,000) for rent of the trading premises.

The company has provided security to the bankers of the below companies under common control

Milton Lodge Limited
Hardwick Dene Limited
Sohal Healthcare Limited
Chalkney House Limited

The bankers are Barclays Bank PLC, and security has been provided by way of a negative pledge. This security is provided in respect of any monies due to the bank.

Milton Lodge Limited

A company under common control.


The above balance is interest free and has no fixed repayment period.

2023 2022
£    £   
Amount due to related party at the balance sheet date 107,105 96,446

The above balance is interest free and is repayable in 53 weeks.

HAZELDELL LTD (REGISTERED NUMBER: 09166674)

Notes to the Financial Statements - continued
for the year ended 31 March 2023


14. Related party disclosures - continued

Brook House Health Ltd

A company under common control.


2023 2022
£    £   
Amount due to related party at the balance sheet date 177,419 202,419

The above balance is interest free and is repayable in 53 weeks.

Hardwick Dene Ltd

A company under common control.


2023 2022
£    £   
Amount due to related party at the balance sheet date 452,080 452,080

The above balance is interest free and is repayable in 53 weeks.

Sohal Healthcare Ltd

A company under common control.


2023 2022
£    £   
Amount due to related party at the balance sheet date 1,484,615 916,329

The above balance is interest free and is repayable in 53 weeks.

JK Healthcare Ltd

A company under common control.


2023 2022
£    £   
Amount due to related party at the balance sheet date - 790,007

The above balance is interest free and is repayable in 53 weeks.

Comfort Care Services (Colchester) Ltd

A company under common control.


2023 2022
£    £   
Amount due to related party at the balance sheet date 147,448 3,627

The above balance is interest free and is repayable in 53 weeks.

HAZELDELL LTD (REGISTERED NUMBER: 09166674)

Notes to the Financial Statements - continued
for the year ended 31 March 2023


14. Related party disclosures - continued

Oak Health UK Limited

A company under common control.


2023 2022
£    £   
Amount due (to)/from related party at the balance sheet date (23,755 ) 3,420

The above balance is interest free and is repayable in 53 weeks.

The Willows Ipswich Limited

A company under common control.


2023 2022
£    £   
Amount due from related party at the balance sheet date 53,879 205,613

The above balance is interest free and is repayable in 53 weeks.

Maple Healthcare Limited

A company under common control.


2023 2022
£    £   
Amount due from related party at the balance sheet date 4,278 4,278

The above balance is interest free and is repayable in 53 weeks.