Registration number: 10402656

Hazelwood Homes Developments Limited

(Registration number: 10402656)
Abridged Balance Sheet as at 30 September 2024

	Note	2024 £	2023 £
Fixed assets
Intangible assets	5	10	10
Tangible assets	6	53,668	72,172
		53,678	72,182
Current assets
Stocks	7	531,805	555,548
Debtors	8	51,467	9,299
Cash at bank and in hand		104,897	102,376
		688,169	667,223
Prepayments and accrued income		1,033	593
Creditors: Amounts falling due within one year		(71,299)	(83,603)
Net current assets		617,903	584,213
Total assets less current liabilities		671,581	656,395
Creditors: Amounts falling due after more than one year		(154,000)	(154,000)
Net assets		517,581	502,395
Capital and reserves
Called up share capital	9	10	10
Share premium reserve		97,910	97,910
Retained earnings		419,661	404,475
Shareholders' funds		517,581	502,395

For the financial year ending 30 September 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.

Hazelwood Homes Developments Limited

(Registration number: 10402656)
Abridged Balance Sheet as at 30 September 2024

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 2 May 2025 and signed on its behalf by:
 

......................................... Mr David Jenkins Director

......................................... Mr Martin James Jenkins Director

Hazelwood Homes Developments Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 September 2024

1	General information

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

The address of its registered office is:
Littlemead
Hollingdon
Buckinghamshire
LU7 0DN
United Kingdom

The principal place of business is:
134 Goldington Road
Bedford
MK40 3EA
United Kingdom

These financial statements were authorised for issue by the Board on 2 May 2025.

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 abridged 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 abridged 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.

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.

Hazelwood Homes Developments Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 September 2024

Tax

The tax expense for the period comprises current 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 income 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.

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
Plant and machinery	25% Reducing Balance
Office Equipment	Straight Line Basis 3 years
Motor Vehicles	25% Reducing Balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Goodwill	Straight line over 5 years

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.

Hazelwood Homes Developments Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 September 2024

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.

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.

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.

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.

Hazelwood Homes Developments Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 September 2024

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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 4 (2023 - 4).

4	Profit before tax

Arrived at after charging/(crediting)

	2024 £	2023 £
Depreciation expense	20,986	22,013

Hazelwood Homes Developments Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 September 2024

5	Intangible assets

	Total £
Cost or valuation
At 1 October 2023	35,355
At 30 September 2024	35,355
Amortisation
At 1 October 2023	35,345
At 30 September 2024	35,345
Carrying amount
At 30 September 2024	10
At 30 September 2023	10

6	Tangible assets

	Furniture, fittings and equipment  £	Motor vehicles  £	Other tangible assets £	Total £
Cost or valuation
At 1 October 2023	25,099	72,270	88,881	186,250
Additions	-	-	2,482	2,482
At 30 September 2024	25,099	72,270	91,363	188,732
Depreciation
At 1 October 2023	21,499	59,313	33,266	114,078
Charge for the year	3,533	3,320	14,133	20,986
At 30 September 2024	25,032	62,633	47,399	135,064
Carrying amount
At 30 September 2024	67	9,637	43,964	53,668
At 30 September 2023	3,600	12,957	55,615	72,172

Hazelwood Homes Developments Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 September 2024

7

Stocks

	2024 £	2023 £
Work in progress	531,805	555,548

8

Debtors

Debtors includes £Nil (2023 - £Nil) due after more than one year.

9	Share capital

Allotted, called up and fully paid shares

	2024		2023
	No.	£	No.	£
Ordinary share class 1 of £1 each	2	2	2	2
Ordinary Share Class 1 of £1 each	8	8	8	8
	10	10	10	10