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Registration number: 13970697

UK Hazel Developments Ltd

Unaudited Financial Statements

for the Period from 1 April 2023 to 31 May 2024

 

UK Hazel Developments Ltd

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 5

 

UK Hazel Developments Ltd

(Registration number: 13970697)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

471

-

Current assets

 

Stocks

5

-

135,396

Debtors

6

108,470

-

Cash at bank and in hand

 

17,077

5,122

 

125,547

140,518

Creditors: Amounts falling due within one year

7

(125,213)

(140,342)

Net current assets

 

334

176

Total assets less current liabilities

 

805

176

Provisions for liabilities

(89)

-

Net assets

 

716

176

Capital and reserves

 

Called up share capital

100

100

Retained earnings

616

76

Shareholders' funds

 

716

176

For the financial period ending 31 May 2024 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 period 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 and 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 17 February 2025 and signed on its behalf by:
 

.........................................
Mr B J Hallows
Director

 

UK Hazel Developments Ltd

Notes to the Unaudited Financial Statements for the Period from 1 April 2023 to 31 May 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
15 St. Johns Way
Sandbach
Cheshire
CW11 2LY
England

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.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Judgements

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

UK Hazel Developments Ltd

Notes to the Unaudited Financial Statements for the Period from 1 April 2023 to 31 May 2024

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change
attributable to an item of income or expense recognised as other comprehensive income is also recognised
directly in other comprehensive income.
The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively
enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2 (2023 - 2).

 

UK Hazel Developments Ltd

Notes to the Unaudited Financial Statements for the Period from 1 April 2023 to 31 May 2024

4

Tangible assets

Other tangible assets
£

Total
£

Cost or valuation

Additions

614

614

At 31 May 2024

614

614

Depreciation

Charge for the period

143

143

At 31 May 2024

143

143

Carrying amount

At 31 May 2024

471

471

5

Stocks

2024
£

2023
£

Other inventories

-

135,396

6

Debtors

Current

2024
£

2023
£

Trade debtors

90,496

-

Other debtors

17,974

-

 

108,470

-

 

UK Hazel Developments Ltd

Notes to the Unaudited Financial Statements for the Period from 1 April 2023 to 31 May 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

-

69,499

Trade creditors

 

13,000

-

Taxation and social security

 

3,318

18

Accruals and deferred income

 

1,259

1,250

Other creditors

 

107,636

69,575

 

125,213

140,342

Current loans and borrowings

2024
£

2023
£

Bank borrowings

-

69,433

Bank overdrafts

-

66

-

69,499

8

Related party transactions

UK Hazel Developments Ltd is related to UK Hazel Homes Ltd due to Mr B Hallows and Mr A Cooper being the directors and shareholders of both.
The intercompany loan included within other debtors of £5,000 (2023: - £21,154) is unsecured, repayable on demand and interest free.