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Registered number: 01029519










HAZELL AND JEFFERIES LIMITED










ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023



 
HAZELL AND JEFFERIES LIMITED
 

COMPANY INFORMATION


Directors
R E Hazell 
Mrs F J Hazell 




Registered number
01029519



Registered office
Mount Pleasant Farm
Coombe End, Whitchurch Hill

Pangbourne

Reading

Berkshire

RG8 7TB




Independent auditors
James Cowper Kreston Audit
Chartered Accountants and Statutory Auditor

2 Communications Road

Greenham Business Park

Greenham

Newbury

Berkshire

RG19 6AB





 
HAZELL AND JEFFERIES LIMITED
 

CONTENTS



Page
Strategic report
1
Directors' report
2 - 3
Independent auditors' report
4 - 7
Profit and loss account
8
Balance sheet
9
Statement of changes in equity
10
Notes to the financial statements
11 - 20


 
HAZELL AND JEFFERIES LIMITED
 

STRATEGIC REPORT
FOR THE YEAR ENDED 31 OCTOBER 2023

Business review
 
The results for the year and the financial position of the company are shown in the annexed financial statements.
Given the straightforward nature of the business, the directors are of the opinion that analysis using Key Performance Indicators is not necessary for an understanding of the development, performance or position of the company.
The directors consider that the results for the year are satisfactory and anticipate that the company will continue to trade successfully for the foreseeable future.

Principal risks and uncertainties
 
The company focuses on retaining and increasing its customer base by providing a high level of service and maintaining strong relationships with key customers and suppliers.
The main financial risks arising from the company's activities are price risk, credit risk and liquidity risk. These are monitored by the directors and were not considered to be significant at the balance sheet date.
The directors monitor price risk and consider that there are no significant associated risks.
The company's policy in respect of credit risk is to require appropriate credit checks on potential customers before sales are made and to monitor payments against contractual agreements for existing customers.
The company's policy in respect of liquidity risk is to maintain readily accessible bank deposit accounts to ensure the company has sufficient funds for operations.

Financial key performance indicators
 
Turnover, margin and net profit are the main measures used to monitor the performance of the company.


This report was approved by the board and signed on its behalf.



R E Hazell
Director
Date: 24 July 2024

Page 1

 
HAZELL AND JEFFERIES LIMITED
 

 
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 OCTOBER 2023

The directors present their report and the financial statements for the year ended 31 October 2023.

Directors

The directors who served during the year were:

R E Hazell 
Mrs F J Hazell 

Directors' responsibilities statement

The directors are responsible for preparing the Strategic report, the Directors' report and the financial statements in accordance with applicable law and regulations.
 
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.

 In preparing these financial statements, the directors are required to:


select suitable accounting policies for the Company's financial statements and then apply them consistently;

make judgments and accounting estimates that are reasonable and prudent;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Principal activity

The principal activity of the company in the year under review was that of tarmac contracting.

Results and dividends

The profit for the year, after taxation, amounted to £1,596,650 (2022 - £2,059,348).

The directors recommend that no final dividend be paid.

Disclosure of information to auditors

Auditors

The auditorsJames Cowper Kreston Auditwill be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

Page 2

 
HAZELL AND JEFFERIES LIMITED
 

 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2023

This report was approved by the board and signed on its behalf.
 



R E Hazell
Director
Date: 24 July 2024

Page 3

 
HAZELL AND JEFFERIES LIMITED
 

 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF HAZELL AND JEFFERIES LIMITED
 

Opinion


We have audited the financial statements of Hazell and Jefferies Limited (the 'Company') for the year ended 31 October 2023, which comprise the Profit and loss account, the Balance sheet, the Statement of changes in equity and the related notes, including a summary of significant accounting policiesThe financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).


In our opinion the financial statements:


give a true and fair view of the state of the Company's affairs as at 31 October 2023 and of its profit for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.


Basis for opinion


We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.


Conclusions relating to going concern


In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.


Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.


Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.


Other information


The other information comprises the information included in the Annual Report other than the financial statements and  our Auditors' report thereon.  The directors are responsible for the other information contained within the Annual Report.  Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated.  If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves.  If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.


We have nothing to report in this regard.


Page 4

 
HAZELL AND JEFFERIES LIMITED
 

 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF HAZELL AND JEFFERIES LIMITED (CONTINUED)


Opinion on other matters prescribed by the Companies Act 2006
 

In our opinion, based on the work undertaken in the course of the audit:


the information given in the Strategic report and the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.


Matters on which we are required to report by exception
 

In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic report or the Directors' report.


We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:


adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.


Responsibilities of directors
 

As explained more fully in the Directors' responsibilities statement set out on page 2, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.


In preparing the financial statements, the directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so.


Page 5

 
HAZELL AND JEFFERIES LIMITED
 

 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF HAZELL AND JEFFERIES LIMITED (CONTINUED)


Auditors' responsibilities for the audit of the financial statements
 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.


Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. 
 
The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. 
 
The specific procedures for this engagement that we designed and performed to detect material misstatements in respect of irregularities, including fraud, were as follows: 

Enquiry of management and those charged with governance around actual and potential   litigation and claims; 
Enquiry of management and those charged with governance to identify any material instances of non-compliance with laws and regulations; 
Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations; 

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.


Page 6

 
HAZELL AND JEFFERIES LIMITED
 

 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF HAZELL AND JEFFERIES LIMITED (CONTINUED)


Use of our report
 

This report is made solely to the Company's shareholder in accordance with Chapter 3 of Part 16 of the Companies Act 2006Our audit work has been undertaken so that we might state to the Company's shareholder those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's shareholder for our audit work, for this report, or for the opinions we have formed.





Alexander Peal BSC(Hons) FCA DChA (Senior Statutory Auditor)
  
for and on behalf of
James Cowper Kreston Audit
 
Chartered Accountants and Statutory Auditor
  
2 Communications Road
Greenham Business Park
Greenham
Newbury
Berkshire
RG19 6AB

26 July 2024
Page 7

 
HAZELL AND JEFFERIES LIMITED
 

PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 OCTOBER 2023

2023
2022
Note
£
£

  

Turnover
 4 
23,021,534
20,860,695

Cost of sales
  
(19,695,604)
(17,081,313)

Gross profit
  
3,325,930
3,779,382

Administrative expenses
  
(1,669,547)
(1,448,803)

Other operating income
 5 
88,082
247,440

Operating profit
 6 
1,744,465
2,578,019

Interest receivable and similar income
  
85,050
8,507

Interest payable and similar expenses
 9 
(15,459)
(11,422)

Profit before tax
  
1,814,056
2,575,104

Tax on profit
 10 
(217,406)
(515,756)

Profit for the financial year
  
1,596,650
2,059,348

There was no other comprehensive income for 2023 (2022:£NIL).

The notes on pages 11 to 20 form part of these financial statements.

Page 8

 
HAZELL AND JEFFERIES LIMITED
REGISTERED NUMBER: 01029519

BALANCE SHEET
AS AT 31 OCTOBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 11 
21,601,581
16,074,807

  
21,601,581
16,074,807

Current assets
  

Debtors: amounts falling due within one year
 12 
7,529,875
3,219,207

Cash at bank and in hand
 13 
1,596,940
10,271,793

  
9,126,815
13,491,000

Creditors: amounts falling due within one year
 14 
(1,335,930)
(1,992,709)

Net current assets
  
 
 
7,790,885
 
 
11,498,291

Total assets less current liabilities
  
29,392,466
27,573,098

Provisions for liabilities
  

Deferred tax
 15 
(529,251)
(306,533)

  
 
 
(529,251)
 
 
(306,533)

Net assets
  
28,863,215
27,266,565


Capital and reserves
  

Called up share capital 
 16 
1,000
1,000

Profit and loss account
  
28,862,215
27,265,565

  
28,863,215
27,266,565


The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 


R E Hazell
Director
Date: 24 July 2024

The notes on pages 11 to 20 form part of these financial statements.

Page 9

 
HAZELL AND JEFFERIES LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 OCTOBER 2023


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 November 2022
1,000
27,265,565
27,266,565



Profit for the year
-
1,596,650
1,596,650


At 31 October 2023
1,000
28,862,215
28,863,215


The notes on pages 11 to 20 form part of these financial statements.


STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 OCTOBER 2022


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 November 2021
1,000
25,206,217
25,207,217



Profit for the year
-
2,059,348
2,059,348


At 31 October 2022
1,000
27,265,565
27,266,565


The notes on pages 11 to 20 form part of these financial statements.

Page 10

 
HAZELL AND JEFFERIES LIMITED
 

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

1.


General information

Hazell and Jefferies Limited is a private company, limited by shares and incorporated in England and Wales. It's registered office and principal place of business is Mount Pleasant Farm, Coombe End Whitchurch Hill, Pangbourne, Berkshire, RG8 7TB.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

  
2.2

Cash flow statement

The company, being a subsidiary undertaking within a group whose consolidated financial statements are publicly available, is exempt from the requirement to prepare a cash flow statement in accordance with FRS 102.

 
2.3

Revenue

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 11

 
HAZELL AND JEFFERIES LIMITED
 

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

2.Accounting policies (continued)

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 12

 
HAZELL AND JEFFERIES LIMITED
 

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

2.Accounting policies (continued)


2.7
Tangible fixed assets (continued)

Land is not depreciated. Depreciation on other assets is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Buildings
-
5%
straight line
Plant and machinery
-
25%
straight line
Motor vehicles
-
25%
straight line
Fixtures and fittings
-
25%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. 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.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. 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.

 
2.11

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Page 13

 
HAZELL AND JEFFERIES LIMITED
 

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

3.


Judgments in applying accounting policies and key sources of estimation uncertainty

The preparation of the financial statements requires management to make estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates.  The following have had the most significant effect on amounts recognised in the financial statements.
Tangible fixed assets
Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the asset and residual values are assessed annually and may vary depending on a number of factors. Residual value assessments consider issues such as the remaining life of the asset and projected disposal values.
Bad debt provisions
Provisions are estimated by the company in respect of specific debts based upon the age of the debt and knowledge of known issues.


4.


Turnover

An analysis of turnover by class of business is as follows:


2023
2022
£
£

Tarmac contracting
16,957,717
15,655,357

Skip Hire
6,063,817
5,205,338

23,021,534
20,860,695


All turnover arose within the United Kingdom.


5.


Other operating income

2023
2022
£
£

Ground rent receivable
86,529
64,274

Insurance claims receivable
1,553
183,166

88,082
247,440



6.


Operating profit

The operating profit is stated after charging:


Page 14

 
HAZELL AND JEFFERIES LIMITED
 

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

7.


Employees

Staff costs, including directors' remuneration, were as follows:


2023
2022
£
£

Wages and salaries
4,257,612
4,186,457

Social security costs
442,015
468,246

Cost of defined contribution scheme
48,855
43,295

4,748,482
4,697,998


The average monthly number of employees, including the directors, during the year was as follows:


        2023
        2022
            No.
            No.







Directors
2
2



Administration
13
14



Contracting
86
85

101
101

All directors and certain senior employees who have authority and responsibility for planning, directing and controlling the activities of the company are considered to be key management personnel. Total remuneration in respect of these individuals, including employer national insurance and pension contributions, is £563,034 (2022: £492,719).


8.


Directors' remuneration

2023
2022
£
£

Directors' emoluments
44,478
45,645

44,478
45,645



9.


Interest payable and similar expenses

2023
2022
£
£


Bank interest payable
-
6,000

Other interest payable
15,459
5,422

15,459
11,422

Page 15

 
HAZELL AND JEFFERIES LIMITED
 

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

10.


Taxation


2023
2022
£
£

Corporation tax


Current tax on profits for the year
195,546
347,786

Adjustments in respect of previous periods
(200,858)
506


(5,312)
348,292


Total current tax
(5,312)
348,292

Deferred tax


Origination and reversal of timing differences
222,718
153,527

Adjustments in respect of prior periods
-
13,937

Total deferred tax
222,718
167,464


Taxation on profit on ordinary activities
217,406
515,756

Factors affecting tax charge for the year

The tax assessed for the year is lower than (2022 - higher than) the standard rate of corporation tax in the UK of 22.5% (2022 - 19]%). The differences are explained below:

2023
2022
£
£


Profit on ordinary activities before tax
1,814,056
2,575,104


Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 22.5]% (2022 - 19]%)
411,641
489,270

Effects of:


Fixed asset differences
(21,015)
(40,764)

Expenses not deductible for tax purposes
4,825
6,322

Adjustment to tax charge in respect of previous periods
(200,158)
12,504

Movement in deferred tax not recognised
-
10,833

Remeasurement of deferred tax for changes in tax rates
22,113
37,591

Total tax charge for the year
217,406
515,756


Factors that may affect future tax charges

There were no factors that may affect future tax charges.


Page 16

 
HAZELL AND JEFFERIES LIMITED
 

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

11.


Tangible fixed assets





Land and buildings
Plant and machinery
Motor vehicles
Fixtures and fittings
Total

£
£
£
£
£



Cost 


At 1 November 2022
12,905,383
7,773,396
8,347,064
193,523
29,219,366


Additions
5,181,908
928,809
1,316,400
10,500
7,437,617


Disposals
-
(113,667)
(275,666)
-
(389,333)



At 31 October 2023

18,087,291
8,588,538
9,387,798
204,023
36,267,650



Depreciation


At 1 November 2022
258,296
6,156,341
6,567,288
162,634
13,144,559


Charge for the year on owned assets
61,473
709,076
1,029,075
11,588
1,811,212


Disposals
-
(27,434)
(262,268)
-
(289,702)



At 31 October 2023

319,769
6,837,983
7,334,095
174,222
14,666,069



Net book value



At 31 October 2023
17,767,522
1,750,555
2,053,703
29,801
21,601,581



At 31 October 2022
12,647,087
1,617,055
1,779,776
30,889
16,074,807

Included in the land and buildings is land at cost of £15,456,658 (2022: £11,529,079) which is not depreciated.

Page 17

 
HAZELL AND JEFFERIES LIMITED
 

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

12.


Debtors

2023
2022
£
£


Trade debtors
2,821,015
2,766,642

Amounts owed by group undertakings
3,784
3,784

Other debtors
847,892
193,951

Prepayments and accrued income
3,857,184
254,830

7,529,875
3,219,207



13.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
1,596,940
10,271,793

1,596,940
10,271,793



14.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
1,057,371
1,032,543

Corporation tax
-
349,860

Other taxation and social security
113,738
97,238

Other creditors
2,846
363,990

Accruals and deferred income
161,975
149,078

1,335,930
1,992,709


Page 18

 
HAZELL AND JEFFERIES LIMITED
 

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

15.


Deferred taxation




2023


£






At beginning of year
(306,533)


Charged to profit or loss
(222,718)



At end of year
(529,251)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(529,865)
(307,139)

Short term timing differences
614
606

(529,251)
(306,533)


16.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1,000 (2022 - 1,000) Ordinary shares of £1.00 each
1,000
1,000



17.


Capital commitments


At 31 October 2023 the Company had capital commitments as follows:

2023
2022
£
£


Contracted for but not provided in these financial statements
179,731
795,000

179,731
795,000

Page 19

 
HAZELL AND JEFFERIES LIMITED
 

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

18.


Related party transactions

The company is controlled by R E Hazell by virtue of his shareholding in the company's parent company, Hazell and Jefferies (Tarmac) Limited.
At the balance sheet date the company was owed £3,784 (2022: £3,784) by Hazell and Jefferies (Tarmac) Limited.
At the balance sheet date Hazell & Jefferies Farms Limited owed £95,481 (2022: £45,216) to the company.
During the year, the company was recharged £436,619 (2022: £73,343) by Hartslock LLP, a limited liability partnership related by common control. At the balance sheet date Hartslock LLP owed £436,619 (2022: £67,933) to the company.


19.


Ultimate parent company

The ultimate parent undertaking is Hazell and Jefferies (Tarmac) Limited which is registered in England and Wales.


Page 20