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REGISTERED NUMBER: 08963162 (England and Wales)
























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

HAZELL FLOORING LTD.

HAZELL FLOORING LTD. (REGISTERED NUMBER: 08963162)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HAZELL FLOORING LTD.

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: S R Hazell
J C Hazell





REGISTERED OFFICE: 4 Office Village
Forder Way
Cygnet Park, Hampton
Peterborough
Cambridgeshire
PE7 8GX





REGISTERED NUMBER: 08963162 (England and Wales)





ACCOUNTANTS: TC Group
4 Office Village
Forder Way
Cygnet Park, Hampton
Peterborough
Cambridgeshire
PE7 8GX

HAZELL FLOORING LTD. (REGISTERED NUMBER: 08963162)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 4,400 8,800
Tangible assets 5 18,962 25,283
23,362 34,083

CURRENT ASSETS
Stocks 6 33,613 40,640
Debtors 7 50,227 31,190
Cash at bank - 36,266
83,840 108,096
CREDITORS
Amounts falling due within one year 8 88,053 102,675
NET CURRENT (LIABILITIES)/ASSETS (4,213 ) 5,421
TOTAL ASSETS LESS CURRENT LIABILITIES 19,149 39,504

CREDITORS
Amounts falling due after more than
one year

9

(14,227

)

(27,355

)

PROVISIONS FOR LIABILITIES 10 (4,740 ) (4,800 )
NET ASSETS 182 7,349

CAPITAL AND RESERVES
Called up share capital 11 20 20
Retained earnings 162 7,329
SHAREHOLDERS' FUNDS 182 7,349

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.

HAZELL FLOORING LTD. (REGISTERED NUMBER: 08963162)

BALANCE SHEET - 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 November 2023 and were signed on its behalf by:





S R Hazell - Director


HAZELL FLOORING LTD. (REGISTERED NUMBER: 08963162)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

Hazell Flooring 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and have also been consistently applied within the same accounts.

Grants
The Coronavirus Job Retention Scheme is recognised as income in the period in which it becomes receivable under the performance model.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

No significant judgements (apart from those involving estimations) have been made by management in the process of applying the entity's accounting policies and preparing these financial statements.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. There have been no key assumptions or there sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount generated in connection with the incorporation of the company from a sole trade business in 2014. The company began amortising the goodwill in 2020 over an estimated remaining useful life of 5 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

At each balance sheet date assets not carried at fair value are assessed to determine whether there is an indication that the asset may be impaired. If there is such an indication the recoverable amount of the asset is compared to the carrying amount of the asset.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

HAZELL FLOORING LTD. (REGISTERED NUMBER: 08963162)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


2. ACCOUNTING POLICIES - continued

Financial instruments
The company holds basic financial instruments as defined in FRS102. The financial assets and financial liabilities of the company and their measurement basis are as follows:

Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Cash at bank is classified as a basic financial instrument and is measured at amortised cost.

Financial liabilities - trade creditors, accruals and other creditors and basic financial instruments and are measured at amortised cost. Taxation and social security and not included in the financial instruments disclosure definition.

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.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Debtors
Short term debtors are initially measured at transaction price less attributable costs and then subsequently measured at amortised costs using EIR. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

HAZELL FLOORING LTD. (REGISTERED NUMBER: 08963162)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


2. ACCOUNTING POLICIES - continued

Creditors
Short term trade creditors are initially measured at transaction price less attributable costs. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 22,000
AMORTISATION
At 1 April 2022 13,200
Amortisation for year 4,400
At 31 March 2023 17,600
NET BOOK VALUE
At 31 March 2023 4,400
At 31 March 2022 8,800

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 April 2022
and 31 March 2023 6,572 63,201 69,773
DEPRECIATION
At 1 April 2022 4,441 40,049 44,490
Charge for year 533 5,788 6,321
At 31 March 2023 4,974 45,837 50,811
NET BOOK VALUE
At 31 March 2023 1,598 17,364 18,962
At 31 March 2022 2,131 23,152 25,283

HAZELL FLOORING LTD. (REGISTERED NUMBER: 08963162)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2022
and 31 March 2023 30,021
DEPRECIATION
At 1 April 2022 18,312
Charge for year 3,505
Transfer to ownership (2,310 )
At 31 March 2023 19,507
NET BOOK VALUE
At 31 March 2023 10,514
At 31 March 2022 11,709

6. STOCKS
2023 2022
£    £   
Stocks 33,613 40,640

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 6,319 30,546
Other debtors - 644
Directors' loan accounts 43,908 -
50,227 31,190

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 13,946 3,000
Hire purchase contracts 4,128 4,128
Trade creditors 41,420 47,421
Corporation tax 9,800 23,642
Social security and other taxes 4,798 3,518
Pension control 867 381
VAT 8,002 15,111
Other creditors 4,268 4,666
Credit card 824 711
Directors' loan accounts - 97
88,053 102,675

HAZELL FLOORING LTD. (REGISTERED NUMBER: 08963162)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 1-2 years 13,000 22,000
Hire purchase contracts 1,227 5,355
14,227 27,355

10. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 4,740 4,800

Deferred
tax
£   
Balance at 1 April 2022 4,800
Utilised during year (60 )
Balance at 31 March 2023 4,740

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
20 Ordinary £1 20 20

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

2023 2022
£    £   
S R Hazell
Balance outstanding at start of year (96 ) (76 )
Amounts advanced 87,695 93,520
Amounts repaid (44,190 ) (93,540 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 43,409 (96 )

13. RELATED PARTY DISCLOSURES

During the year, total dividends of £38,500 were paid to the directors .

At the year end, the directors Mr and Mrs Hazell owed the company £43,908 (2022: £Nil). Interest on this loan is charged at 2% interest.

At the year end, the company owed the directors Mr and Mrs Hazell £Nil (2022: £96). No interest was charged and this was repayble on demand.

HAZELL FLOORING LTD. (REGISTERED NUMBER: 08963162)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


14. ULTIMATE CONTROLLING PARTY

The company is controlled by Mr Simon and Mrs Jane Hazell by virtue of their shareholdings in the company.