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COMPANY REGISTRATION NUMBER: 11965597
Hazaway Ltd
Unaudited Financial Statements
30 April 2024
Hazaway Ltd
Financial Statements
Year ended 30 April 2024
Contents
Page
Director's report
1
Statement of income and retained earnings
2
Statement of financial position
3
Notes to the financial statements
4
The following pages do not form part of the financial statements
Chartered accountant's report to the director on the preparation of the unaudited statutory financial statements
7
Hazaway Ltd
Director's Report
Year ended 30 April 2024
The director presents his report and the unaudited financial statements of the company for the year ended 30 April 2024 .
Principal activities
The principal activity of the company during the year was provision of hazardous waste removal services.
Director
The director who served the company during the year was as follows:
Mr B B Brewster
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 18 November 2024 and signed on behalf of the board by:
Mr B B Brewster
Director
Registered office:
4th Floor
58-59 Great Marlborough Street
London
UK
W1F 7JY
Hazaway Ltd
Statement of Income and Retained Earnings
Year ended 30 April 2024
2024
2023
Note
£
£
Turnover
18,901
--------
----
Gross profit
18,901
Administrative expenses
13,233
7,834
--------
-------
Operating profit/(loss)
5,668
( 7,834)
--------
-------
Profit/(loss) before taxation
5,668
( 7,834)
Tax on profit/(loss)
1,077
( 1,488)
-------
-------
Profit/(loss) for the financial year and total comprehensive income
4,591
( 6,346)
-------
-------
Retained losses at the start of the year
( 6,346)
-------
-------
Retained losses at the end of the year
( 1,755)
( 6,346)
-------
-------
All the activities of the company are from continuing operations.
Hazaway Ltd
Statement of Financial Position
30 April 2024
2024
2023
Note
£
£
Current assets
Debtors
4
411
1,572
Cash at bank and in hand
2,379
4,086
-------
-------
2,790
5,658
Creditors: amounts falling due within one year
5
4,445
11,904
-------
--------
Net current liabilities
1,655
6,246
-------
-------
Total assets less current liabilities
( 1,655)
( 6,246)
-------
-------
Net liabilities
( 1,655)
( 6,246)
-------
-------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 1,755)
( 6,346)
-------
-------
Shareholders deficit
( 1,655)
( 6,246)
-------
-------
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 18 November 2024 , and are signed on behalf of the board by:
Mr B B Brewster
Director
Company registration number: 11965597
Hazaway Ltd
Notes to the Financial Statements
Year ended 30 April 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 4th Floor, 58-59 Great Marlborough Street, London, W1F 7JY, UK.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax, in respect of the principal activity.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Debtors
2024
2023
£
£
Other debtors
411
1,572
----
-------
5. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
504
Social security and other taxes
2,945
Other creditors - WT Environmental Limited
100
10,000
Other creditors
1,400
1,400
-------
--------
4,445
11,904
-------
--------
6. Related party transactions
During the year, a consultancy fee of £15,000 (2023 : £Nil) was charged to WT Environmental Limited, a company in which Mr B Brewster is a director. In addition, a loan balance of £100 (2023 : £10,000) was owed to WT Environmental Limited as at the year end. The loan is interest free and repayable on demand.
Hazaway Ltd
Management Information
Year ended 30 April 2024
The following pages do not form part of the financial statements.
Hazaway Ltd
Chartered Accountant's Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of Hazaway Ltd
Year ended 30 April 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Hazaway Ltd for the year ended 30 April 2024, which comprise the statement of income and retained earnings, statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the director of Hazaway Ltd. Our work has been undertaken solely to prepare for your approval the financial statements of Hazaway Ltd and state those matters that we have agreed to state to you in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Hazaway Ltd and its director for our work or for this report.
It is your duty to ensure that Hazaway Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Hazaway Ltd. You consider that Hazaway Ltd is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of Hazaway Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
HIGGINS FAIRBAIRN & CO Chartered accountants
4th Floor 58-59 Great Marlborough Street London W1F 7JY
18 November 2024