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Registration number: 08171333

Hazlewood Engineering Holdings Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2023

 

Hazlewood Engineering Holdings Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Hazlewood Engineering Holdings Ltd

Company Information

Directors

Mr S M Hazlewood

Mrs S A Hazlewood

Registered office

Seven Springs
Stockwood
Redditch
Worcestershire
B96 6SU

Accountants

Ballards LLP
Chartered Accountants
Oakmoore Court
11C Kingswood Road
Hampton Lovett
Droitwich
Worcestershire
WR9 0QH

 

Hazlewood Engineering Holdings Ltd

(Registration number: 08171333)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

140,990

140,990

Investments

5

11,667

11,667

 

152,657

152,657

Current assets

 

Debtors

6

84,178

90,178

Cash at bank and in hand

 

195,460

139,556

 

279,638

229,734

Creditors: Amounts falling due within one year

7

(37,000)

(32,000)

Net current assets

 

242,638

197,734

Net assets

 

395,295

350,391

Capital and reserves

 

Called up share capital

11,667

11,667

Retained earnings

383,628

338,724

Shareholders' funds

 

395,295

350,391

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 25 September 2024 and signed on its behalf by:
 

.........................................
Mr S M Hazlewood
Director

   
 

Hazlewood Engineering Holdings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Seven Springs
Stockwood
Redditch
Worcestershire
B96 6SU

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Going concern

The financial statements have been prepared on a going concern basis.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Freehold property

Not depreciated

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

 

Hazlewood Engineering Holdings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

Hazlewood Engineering Holdings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

4

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 1 January 2023

140,990

140,990

At 31 December 2023

140,990

140,990

Depreciation

Carrying amount

At 31 December 2023

140,990

140,990

At 31 December 2022

140,990

140,990

Included within the net book value of land and buildings above is £140,990 (2022 - £140,990) in respect of freehold land and buildings.
 

5

Investments

2023
£

2022
£

Investments in subsidiaries

11,667

11,667

Subsidiaries

£

Cost or valuation

At 1 January 2023

11,667

Provision

Carrying amount

At 31 December 2023

11,667

At 31 December 2022

11,667

6

Debtors

Current

Note

2023
£

2022
£

Amounts owed by related parties

84,178

90,178

 

Hazlewood Engineering Holdings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Amounts owed to related parties

37,000

32,000