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REGISTERED NUMBER: 02328267 (England and Wales)
















Unaudited Financial Statements for the Year Ended 31 May 2024

for

Hazelvale Properties Limited

Hazelvale Properties Limited (Registered number: 02328267)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Hazelvale Properties Limited

Company Information
for the Year Ended 31 May 2024







DIRECTORS: Mr P J Gower
Mrs V A Rees-Winter
Mrs E J Harding





SECRETARY: Mrs B S Gower





REGISTERED OFFICE: Lake House
Market Hill
Royston
Hertfordshire
SG8 9JN





REGISTERED NUMBER: 02328267 (England and Wales)





ACCOUNTANTS: Hardcastle Burton LLP
Lake House
Market Hill
Royston
Hertfordshire
SG8 9JN

Hazelvale Properties Limited (Registered number: 02328267)

Abridged Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 421 559
Investments 5 1,000 1,000
Investment property 6 900,000 900,000
901,421 901,559

CURRENT ASSETS
Cash at bank 5,016 6,926

CREDITORS
Amounts falling due within one year 58,429 58,367
NET CURRENT LIABILITIES (53,413 ) (51,441 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

848,008

850,118

CREDITORS
Amounts falling due after more than one
year

(368,458

)

(388,420

)

PROVISIONS FOR LIABILITIES (80 ) (106 )
NET ASSETS 479,470 461,592

CAPITAL AND RESERVES
Called up share capital 7 1,000 1,000
Undistributable reserves 438,976 438,976
Retained earnings 39,494 21,616
SHAREHOLDERS' FUNDS 479,470 461,592

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 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.

Hazelvale Properties Limited (Registered number: 02328267)

Abridged Balance Sheet - continued
31 May 2024


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 May 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 14 August 2024 and were signed on its behalf by:





Mr P J Gower - Director


Hazelvale Properties Limited (Registered number: 02328267)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Hazelvale Properties 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.

The financial statements have been prepared on a going concern basis. The Director considers the basis to be appropriate despite the fact that the balance sheet shows net current liabilities at 31st May 2022. The company is generating sufficient cash flows on a weekly basis together with support of its directors to meet it current liabilities.

Should the company be unable to continue trading, adjustments would have been made to adjust the value of the assets to their recoverable amount, to provide for any further liabilities which might arise.

Turnover
Turnover represents invoiced rent receivable, excluding 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.

Freehold property - No depreciation
Fixtures & fittings - 20% reducing balance
Computer equipment - 25% reducing balance

Investment property
Investment properties are revalued annually and included in the balance sheet at their open market value. Any surplus or deficit on revaluation of such properties is transferred to the investment property revaluation reserve. In accordance with Statement of Standard Accounting Practice Number 19, no depreciation is provided in respect of investment properties. This represents a departure from the Companies Act 2006 requirements concerning the depreciation of fixed assets. The directors consider that the adoption of this policy is necessary to give a true and fair view.

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.


Hazelvale Properties Limited (Registered number: 02328267)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

2. ACCOUNTING POLICIES - continued
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 (2023 - NIL).

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 June 2023
and 31 May 2024 8,613
DEPRECIATION
At 1 June 2023 8,054
Charge for year 138
At 31 May 2024 8,192
NET BOOK VALUE
At 31 May 2024 421
At 31 May 2023 559


5. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST
At 1 June 2023
and 31 May 2024 1,000
NET BOOK VALUE
At 31 May 2024 1,000
At 31 May 2023 1,000

Hazelvale Properties Limited (Registered number: 02328267)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2023
and 31 May 2024 900,000
NET BOOK VALUE
At 31 May 2024 900,000
At 31 May 2023 900,000

Fair value at 31 May 2024 is represented by:
£   
Valuation in 2007 46,000
Valuation in 2017 292,976
Valuation in 2022 100,000
Cost 461,024
900,000

The revaluation of the investment properties was undertaken by the director of the company at market value of £900,000 on the 31st May 2022.

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.24 31.5.23
value: £    £   
1,000 Ordinary £1.00 1,000 1,000