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Company registration number: 07054341
HAILZEAN LIMITED
31 October 2024
HEYWOODS
Chartered Accountants
Countrywide House
Knights Way
Shrewsbury
Shropshire
SY1 3AB
HAILZEAN LIMITED
Contents
Directors and other information
Accountants report
Statement of financial position
Statement of changes in equity
Notes to the financial statements
HAILZEAN LIMITED
DIRECTORS AND OTHER INFORMATION
Director Mr I J Courtney
Company number 07054341
Registered office 27 Gorse Lane
Bayston Hill
Shrewsbury
Shropshire
SY3 0JJ
Business address 27 Gorse Lane
Shrewsbury
Shropshire
SY3 0JJ
Accountants Heywoods
Countrywide House
Knights Way
Shrewsbury
Shropshire
SY1 3AB
HAILZEAN LIMITED
CHARTERED ACCOUNTANTS REPORT TO THE DIRECTOR ON THE PREPARATION OF THE
UNAUDITED STATUTORY FINANCIAL STATEMENTS OF HAILZEAN LIMITED
YEAR ENDED 31ST OCTOBER 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 Hailzean Limited for the year ended 31 October 2024 as set out on pages 5 to 10 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 http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the director of Hailzean Limited, as a body, in accordance with the terms of our engagement letter dated 21 May 2018. Our work has been undertaken solely to prepare for your approval the financial statements of Hailzean Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Hailzean Limited and its director as a body for our work or for this report.
It is your duty to ensure that Hailzean Limited 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 Hailzean Limited. You consider that Hailzean Limited 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 Hailzean Limited. 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.
Heywoods
Chartered Accountants
Countrywide House
Knights Way
Shrewsbury
Shropshire
SY1 3AB
7 July 2025
HAILZEAN LIMITED
STATEMENT OF FINANCIAL POSITION
31ST OCTOBER 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 7,030 9,358
_______ _______
7,030 9,358
Current assets
Stocks 300 4,718
Debtors 6 6,411 4,764
Cash at bank and in hand 11,183 17,685
_______ _______
17,894 27,167
Creditors: amounts falling due
within one year 7 ( 8,496) ( 16,962)
_______ _______
Net current assets 9,398 10,205
_______ _______
Total assets less current liabilities 16,428 19,563
Provisions for liabilities ( 1,336) ( 1,778)
_______ _______
Net assets 15,092 17,785
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 14,992 17,685
_______ _______
Shareholder funds 15,092 17,785
_______ _______
For the year ending 31 October 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 member has 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 their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered 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'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 30 June 2025 , and are signed on behalf of the board by:
Mr I J Courtney
Director
Company registration number: 07054341
HAILZEAN LIMITED
STATEMENT OF CHANGES IN EQUITY
YEAR ENDED 31ST OCTOBER 2024
Called up share capital Profit and loss account Total
£ £ £
At 1 November 2022 100 27,908 28,008
Profit for the year 677 677
_______ _______ _______
Total comprehensive income for the year - 677 677
Dividends paid and payable ( 10,900) ( 10,900)
_______ _______ _______
Total investments by and distributions to owners - ( 10,900) ( 10,900)
_______ _______ _______
At 31 October 2023 and 1 November 2023 100 17,685 17,785
Profit for the year 8,307 8,307
_______ _______ _______
Total comprehensive income for the year - 8,307 8,307
Dividends paid and payable ( 11,000) ( 11,000)
_______ _______ _______
Total investments by and distributions to owners - ( 11,000) ( 11,000)
_______ _______ _______
At 31 October 2024 100 14,992 15,092
_______ _______ _______
HAILZEAN LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31ST OCTOBER 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 27 Gorse Lane, Bayston Hill, Shrewsbury, Shropshire, SY3 0JJ.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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.
Turnover
Turnover is measured at the value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and is subsequently stated at cost less any accumulated depreciation and any accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - 15 % reducing balance
Fittings fixtures and equipment - 33 % reducing balance
Motor vehicles - 25 % reducing balance
Stocks
Stock is measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to their present location and condition.
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.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Tangible assets
Plant and machinery Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £
Cost
At 1 November 2023 and 31 October 2024 2,437 920 17,000 20,357
_______ _______ _______ _______
Depreciation
At 1 November 2023 2,021 545 8,433 10,999
Charge for the year 62 124 2,142 2,328
_______ _______ _______ _______
At 31 October 2024 2,083 669 10,575 13,327
_______ _______ _______ _______
Carrying amount
At 31 October 2024 354 251 6,425 7,030
_______ _______ _______ _______
At 31 October 2023 416 375 8,567 9,358
_______ _______ _______ _______
6. Debtors
2024 2023
£ £
Trade debtors 4,228 2,554
Other debtors 2,183 2,210
_______ _______
6,411 4,764
_______ _______
7. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts - 9,301
Trade creditors 3,267 3,051
Corporation tax 2,391 757
Social security and other taxes 1,463 2,050
Other creditors 1,375 1,803
_______ _______
8,496 16,962
_______ _______