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REGISTERED NUMBER: 07495021 (England and Wales)















HAZELTIME LIMITED

Unaudited Financial Statements

for the Year Ended 31 March 2023






HAZELTIME LIMITED (REGISTERED NUMBER: 07495021)






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


HAZELTIME LIMITED

Company Information
for the year ended 31 March 2023







DIRECTORS: H J Shipley Snr
W Shipley
H J Shipley Jnr
G Shipley





REGISTERED OFFICE: National House
Etchell Road
Tamworth
Staffordshire
B78 3HF





REGISTERED NUMBER: 07495021 (England and Wales)






HAZELTIME LIMITED (REGISTERED NUMBER: 07495021)

Balance Sheet
31 March 2023

31/3/23 31/3/22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 5,811 5,571
Investments 5 1 1
Investment property 6 15,165,101 15,165,101
15,170,913 15,170,673

CURRENT ASSETS
Debtors 7 518,236 540,579
Cash at bank 916,457 2,250,987
1,434,693 2,791,566
CREDITORS
Amounts falling due within one year 8 1,159,320 2,619,545
NET CURRENT ASSETS 275,373 172,021
TOTAL ASSETS LESS CURRENT
LIABILITIES

15,446,286

15,342,694

CREDITORS
Amounts falling due after more than one year 9 (7,234,740 ) (8,344,320 )

PROVISIONS FOR LIABILITIES (1,104 ) (1,058 )
NET ASSETS 8,210,442 6,997,316

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 8,210,342 6,997,216
SHAREHOLDERS' FUNDS 8,210,442 6,997,316

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.

HAZELTIME LIMITED (REGISTERED NUMBER: 07495021)

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 September 2023 and were signed on its behalf by:





H J Shipley Snr - Director


HAZELTIME LIMITED (REGISTERED NUMBER: 07495021)

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

1. STATUTORY INFORMATION

Hazeltime 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

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 as modified by the revaluation of certain assets.

Significant judgements and estimates
Investment Properties

The value of the properties is assessed by the directors at each reporting date using publicly available market evidence comprising primarily of values of comparable properties in the area and national market statistics. However, it is inherently difficult to assess the true market value of the properties without actively marketing the properties for sale.

Turnover
Turnover is attributable to the principal activities of the company during the year. All invoiced amounts are stated exclusive of any discounts and Value Added Tax.

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 - 20% on reducing balance

Investment property
Investments properties are included within the financial statements at their fair value at the balance sheet date. No depreciation is charged on such properties in accordance with the provisions of the Financial Reporting Standard 102 as such properties are held for capital growth and rental income rather than consumption within the business.

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.

3. EMPLOYEES AND DIRECTORS

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

HAZELTIME LIMITED (REGISTERED NUMBER: 07495021)

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022 13,600
Additions 1,693
At 31 March 2023 15,293
DEPRECIATION
At 1 April 2022 8,029
Charge for year 1,453
At 31 March 2023 9,482
NET BOOK VALUE
At 31 March 2023 5,811
At 31 March 2022 5,571

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 April 2022
and 31 March 2023 1
NET BOOK VALUE
At 31 March 2023 1
At 31 March 2022 1

Fixed asset investments is the cost of shares in an unquoted company.

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022
and 31 March 2023 15,165,101
NET BOOK VALUE
At 31 March 2023 15,165,101
At 31 March 2022 15,165,101

The company holds freehold property for investment purposes. The directors have decreased the fair value of certain properties by reference to external valuation reports prepared by suitably qualified persons and which indicated a material change to the carrying fair value. Such loss on fair value has been taken to the profit and loss account.

HAZELTIME LIMITED (REGISTERED NUMBER: 07495021)

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

6. INVESTMENT PROPERTY - continued

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2019 875,537
Valuation in 2022 (1,100,000 )
Cost 15,389,564
15,165,101

Any gain or loss arising from a change in fair value is recognised in profit or loss in that accounting period.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/23 31/3/22
£    £   
Trade debtors 165,095 150,360
Amounts owed by participating interests 92,271 103,336
Other debtors 260,870 286,883
518,236 540,579

Other debtors include financial assets which are measured at fair value, net of transaction costs and are measured subsequently at amortised cost using the effective rate of interest method.

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/23 31/3/22
£    £   
Bank loans and overdrafts 150,000 1,650,000
Trade creditors 312,000 -
Taxation and social security 352,300 631,829
Other creditors 345,020 337,716
1,159,320 2,619,545

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31/3/23 31/3/22
£    £   
Bank loans 1,987,500 2,137,500
Other creditors 5,247,240 6,206,820
7,234,740 8,344,320

HAZELTIME LIMITED (REGISTERED NUMBER: 07495021)

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

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
31/3/23 31/3/22
£    £   
Amounts falling due in more than five years:

Repayable otherwise than by instalments
Other loans repayable after 5
years 5,247,240 6,206,820
5,247,240 6,206,820

Repayable by instalments
Bank loans repayable after 5
years by instalments 1,387,500 1,537,500
1,387,500 1,537,500

Under the terms of the loan agreements in force the loans are repayable on demand at the request of the lender. However, as the lenders share common owners and Directors, the company has obtained a letter of postponement from the lender giving assurances that at the balance sheet date the loans would not be recalled in the following 12 months.

10. SECURED DEBTS

The following secured debts are included within creditors:

31/3/23 31/3/22
£    £   
Bank loans 2,137,500 3,787,500

11. RELATED PARTY DISCLOSURES

Newmarket Lane Limited (formerly York Court (2008) Limited)

The company is an amount by Newmarket Lane Limited on interest free terms, a company in which one third of the share capital is owned by Hazeltime Limited.

As at 31st March 2023, the company was owed £15,426 (2022 : £15,426).


Paragon Wakefield LLP

During the year, the company had a profit share of £2,134 (2022 : £6,578) from Paragon Wakefield LLP and was repaid loans of £13,200.

As at 31 March 2023, the company was owed £76,844 (2022 : £87,910 ) by the LLP.

The company is a corporate partner in the LLP.