Silverfin false false 31/03/2024 01/04/2023 31/03/2024 N Edmonds 22/03/2024 M J Todd 04/02/2010 20 September 2024 The principal activity of the Company during the financial year was that of construction and re-fitting of retail outlets. 07145672 2024-03-31 07145672 bus:Director1 2024-03-31 07145672 bus:Director2 2024-03-31 07145672 2023-03-31 07145672 core:CurrentFinancialInstruments 2024-03-31 07145672 core:CurrentFinancialInstruments 2023-03-31 07145672 core:Non-currentFinancialInstruments 2024-03-31 07145672 core:Non-currentFinancialInstruments 2023-03-31 07145672 core:ShareCapital 2024-03-31 07145672 core:ShareCapital 2023-03-31 07145672 core:RetainedEarningsAccumulatedLosses 2024-03-31 07145672 core:RetainedEarningsAccumulatedLosses 2023-03-31 07145672 core:PlantMachinery 2023-03-31 07145672 core:Vehicles 2023-03-31 07145672 core:FurnitureFittings 2023-03-31 07145672 core:OfficeEquipment 2023-03-31 07145672 core:PlantMachinery 2024-03-31 07145672 core:Vehicles 2024-03-31 07145672 core:FurnitureFittings 2024-03-31 07145672 core:OfficeEquipment 2024-03-31 07145672 2023-04-01 2024-03-31 07145672 bus:FilletedAccounts 2023-04-01 2024-03-31 07145672 bus:SmallEntities 2023-04-01 2024-03-31 07145672 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 07145672 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 07145672 bus:Director1 2023-04-01 2024-03-31 07145672 bus:Director2 2023-04-01 2024-03-31 07145672 core:PlantMachinery 2023-04-01 2024-03-31 07145672 core:Vehicles 2023-04-01 2024-03-31 07145672 core:FurnitureFittings 2023-04-01 2024-03-31 07145672 core:OfficeEquipment core:TopRangeValue 2023-04-01 2024-03-31 07145672 2022-04-01 2023-03-31 07145672 core:OfficeEquipment 2023-04-01 2024-03-31 07145672 core:CurrentFinancialInstruments 2023-04-01 2024-03-31 07145672 core:Non-currentFinancialInstruments 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Company No: 07145672 (England and Wales)

HAZEL AND WEST LTD

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

HAZEL AND WEST LTD

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

HAZEL AND WEST LTD

BALANCE SHEET

As at 31 March 2024
HAZEL AND WEST LTD

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 237,355 153,963
Investments 11,600 11,600
248,955 165,563
Current assets
Stocks 4 220,013 151,441
Debtors 5 446,707 334,301
Cash at bank and in hand 228,319 83,370
895,039 569,112
Creditors: amounts falling due within one year 6 ( 672,383) ( 370,292)
Net current assets 222,656 198,820
Total assets less current liabilities 471,611 364,383
Creditors: amounts falling due after more than one year 7 ( 77,407) ( 44,099)
Provision for liabilities ( 58,977) ( 28,960)
Net assets 335,227 291,324
Capital and reserves
Called-up share capital 1,000 1,000
Profit and loss account 334,227 290,324
Total shareholders' funds 335,227 291,324

For the financial year ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Hazel and West Ltd (registered number: 07145672) were approved and authorised for issue by the Board of Directors on 20 September 2024. They were signed on its behalf by:

M J Todd
Director
HAZEL AND WEST LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
HAZEL AND WEST LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Hazel and West Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Towngate House, 2-8 Parkstone Road, Poole, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Revenue from services is recognised as they are delivered.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Plant and machinery 25 % reducing balance
Vehicles 25 % reducing balance
Fixtures and fittings 25 % reducing balance
Office equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 10 8

3. Tangible assets

Plant and machinery Vehicles Fixtures and fittings Office equipment Total
£ £ £ £ £
Cost
At 01 April 2023 114,146 236,932 9,395 34,378 394,851
Additions 4,468 126,058 0 6,300 136,826
Disposals 0 ( 21,737) 0 0 ( 21,737)
At 31 March 2024 118,614 341,253 9,395 40,678 509,940
Accumulated depreciation
At 01 April 2023 92,964 115,882 7,178 24,864 240,888
Charge for the financial year 5,346 32,338 555 6,557 44,796
Disposals 0 ( 13,099) 0 0 ( 13,099)
At 31 March 2024 98,310 135,121 7,733 31,421 272,585
Net book value
At 31 March 2024 20,304 206,132 1,662 9,257 237,355
At 31 March 2023 21,182 121,050 2,217 9,514 153,963

4. Stocks

2024 2023
£ £
Stocks 220,013 151,441

5. Debtors

2024 2023
£ £
Trade debtors 179,065 150,128
Other debtors 267,642 184,173
446,707 334,301

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans and overdrafts 10,206 38,424
Trade creditors 443,480 127,396
Amounts owed to directors 69,376 71,129
Accruals 39,463 4,597
Taxation and social security 50,758 82,533
Obligations under finance leases and hire purchase contracts (secured) 40,898 12,029
Other creditors 18,202 34,184
672,383 370,292

Hire purchase contracts are secured against the assets to which they relate.

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 12,144 22,350
Obligations under finance leases and hire purchase contracts (secured) 65,263 21,749
77,407 44,099

Hire purchase contracts are secured against the assets to which they relate.