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REGISTERED NUMBER: 03207344 (England and Wales)












REPORT OF THE DIRECTOR AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST JULY 2023

FOR

HAZARD ELECTRIC COMPANY LIMITED

HAZARD ELECTRIC COMPANY LIMITED (REGISTERED NUMBER: 03207344)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JULY 2023




Page

Company Information 1

Report of the Director 2

Balance Sheet 3

Notes to the Financial Statements 4


HAZARD ELECTRIC COMPANY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST JULY 2023







DIRECTOR: A H Ambrose





SECRETARY: D C Dear





REGISTERED OFFICE: Unit 20
Dry Drayton Industries
Scotland Road
Dry Drayton
Cambridgeshire
CB23 8AT





REGISTERED NUMBER: 03207344 (England and Wales)





ACCOUNTANTS: Cook & Partners Limited
Manufactory House
Bell Lane
Hertford
Hertfordshire
SG14 1BP

HAZARD ELECTRIC COMPANY LIMITED (REGISTERED NUMBER: 03207344)

REPORT OF THE DIRECTOR
FOR THE YEAR ENDED 31ST JULY 2023

The director presents his report with the financial statements of the company for the year ended 31st July 2023.

DIRECTORS
The directors who have held office during the period from 1st August 2022 to the date of this report are as follows:

A M Seaver - resigned 8th September 2022
A H Ambrose - appointed 9th September 2022

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





A H Ambrose - Director


27th October 2023

HAZARD ELECTRIC COMPANY LIMITED (REGISTERED NUMBER: 03207344)

BALANCE SHEET
31ST JULY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 6,187 3,682

CURRENT ASSETS
Stocks 102,232 94,912
Debtors 5 238,879 271,679
Cash at bank 394,957 337,485
736,068 704,076
CREDITORS
Amounts falling due within one year 6 175,214 223,161
NET CURRENT ASSETS 560,854 480,915
TOTAL ASSETS LESS CURRENT
LIABILITIES

567,041

484,597

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 567,039 484,595
SHAREHOLDERS' FUNDS 567,041 484,597

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

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

The director acknowledges his 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.

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 director and authorised for issue on 27th October 2023 and were signed by:





A H Ambrose - Director


HAZARD ELECTRIC COMPANY LIMITED (REGISTERED NUMBER: 03207344)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JULY 2023

1. STATUTORY INFORMATION

Hazard Electric Company Limited 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

Accounting convention
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.

Going Concern Justification
The directors have assessed various factors and risks affecting the company and its ability in these difficult economic times to continue to trade as a going concern. The directors have not identified any material uncertainties or risks related to events or conditions that could affect the carrying values of the company's assets and liabilities as at the balance sheet date. Therefore the financial statements for the year ended 31 July 2023 have been prepared using the going concern basis of accounting.

Revenue
Revenue - Described as turnover - is the value of goods (net of VAT) provided to customers during the year, plus the value of work (net of VAT) performed during the year with respect to services.

Revenue is recognised on the sale of goods when the goods are delivered and title has passed. Revenue is recognised on the provision of services once completed.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost and 20% on cost

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

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 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.

HAZARD ELECTRIC COMPANY LIMITED (REGISTERED NUMBER: 03207344)

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

2. ACCOUNTING POLICIES - continued

Pension costs
The company operates a defined contribution scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension costs charge represents contributions payable for the period by the company to the fund.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st August 2022 64,034
Additions 4,280
At 31st July 2023 68,314
DEPRECIATION
At 1st August 2022 60,352
Charge for year 1,775
At 31st July 2023 62,127
NET BOOK VALUE
At 31st July 2023 6,187
At 31st July 2022 3,682

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 237,727 270,793
Prepayments 1,152 886
238,879 271,679

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 88,601 186,826
Tax 48,450 14,812
Social security and other taxes 38,163 21,523
175,214 223,161

7. GUARANTEES AND OTHER FINANCIAL COMMITMENTS

The company had total guarantees and commitments at the year end of £6,800 (2022: £570).