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Registration number: 13423025

UK Hazel Homes Ltd

Unaudited Financial Statements

for the Year Ended 31 May 2024

 

UK Hazel Homes Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 5

 

UK Hazel Homes Ltd

(Registration number: 13423025)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

160,000

98,000

Current assets

 

Debtors

5

225

23,014

Cash at bank and in hand

 

60,271

2,616

 

60,496

25,630

Creditors: Amounts falling due within one year

6

(210,139)

(122,362)

Net current liabilities

 

(149,643)

(96,732)

Total assets less current liabilities

 

10,357

1,268

Provisions for liabilities

(1,949)

-

Net assets

 

8,408

1,268

Capital and reserves

 

Called up share capital

100

100

Retained earnings

8,308

1,168

Shareholders' funds

 

8,408

1,268

 

UK Hazel Homes Ltd

(Registration number: 13423025)
Balance Sheet as at 31 May 2024

For the financial year 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 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 17 February 2025 and signed on its behalf by:
 

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

.........................................
Mr A G Cooper
Director

 

UK Hazel Homes Ltd

Notes to the Unaudited Financial Statements for the Year Ended 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.

Tax

The tax expense for the period comprises current and deferred tax.

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 on temporary differences arising between the tax bases of assets and liabilities and
their carrying amounts in the financial statements and on unused tax losses or tax credits in the company.
Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the
reporting date.

 

UK Hazel Homes Ltd

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

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.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers or the expert opinion of the directors. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised 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 year, was 2 (2023 - 2).

4

Investment properties

2024
£

At 1 June

98,000

Additions

137,954

Disposals

(98,000)

Fair value adjustments

22,046

At 31 May

160,000

There has been no valuation of investment property by an independent valuer.

 

UK Hazel Homes Ltd

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

5

Debtors

Current

2024
£

2023
£

Trade debtors

225

-

Prepayments

-

1,860

Other debtors

-

21,154

 

225

23,014

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

88,450

69,359

Trade creditors

 

1,287

2,163

Accruals and deferred income

 

912

840

Other creditors

 

119,490

50,000

 

210,139

122,362

Lending facilities included in Loans and borrowings are secured by the way of a charge over the fixed assets of the company and are guaranteed by the assets in which they relate.

7

Related party transactions

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