Registration number: 10535141

Hazelwood Community Company

Contents

Company Information	1
Statement of Financial Position	2 to 3
Notes to the Financial Statements	4 to 8

Hazelwood Community Company

Company Information

Directors

R I Ryan W G Kearney

Registered office

Hazelwood Centre Hazelwood Drive Sunbury-On-Thames Middlesex TW16 6QU

Hazelwood Community Company

Statement of Financial Position as at 30 June 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	5	139,533	177,890
Current assets
Stocks	6	16,206	2,500
Debtors	7	57,669	15,464
Cash at bank and in hand		23,447	16,085
		97,322	34,049
Creditors: Amounts falling due within one year	8	(411,281)	(321,650)
Net current liabilities		(313,959)	(287,601)
Total assets less current liabilities		(174,426)	(109,711)
Creditors: Amounts falling due after more than one year	8	(19,655)	(34,700)
Provisions for liabilities		(547)	(547)
Net liabilities		(194,628)	(144,958)
Capital and reserves
Profit and loss account		(194,628)	(144,958)
Total equity		(194,628)	(144,958)

For the financial year ending 30 June 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 Community Company

Statement of Financial Position as at 30 June 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’.

The directors have elected not to include a copy of the Income Statement within the financial statements, in accordance with the special provisions relating to companies subject to the small companies regime within the Companies Act 2006, section 444.

Approved and authorised by the Board on 25 September 2025 and signed on its behalf by:
 

.........................................

W G Kearney

Director

Company registration number: 10535141

Hazelwood Community Company

Notes to the Financial Statements for the Year Ended 30 June 2024

1	General information

The company is a company limited by guarantee, incorporated in England & Wales, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.

The address of its registered office is:
Hazelwood Centre
Hazelwood Drive
Sunbury-On-Thames
Middlesex
TW16 6QU

The principal activity of the company is the administration of a sporting facility.

2	Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' Section 1A and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Summary of significant accounting policies

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.

Going concern

During the year the company received an additional £130,000 in funding via the Administrator of London Irish Holdings Limited to ensue that key ongoing facilities costs remain covered. The draft result for the year to 30 June 2025 was a loss of £54,000 (EBITDA loss £3,000) which combined with appropriate working capital management enabled delivery of full operational services. The outlook for the year ended June 2026 is expected to be working capital positive following the renewal of key supply contracts such as electricity at more favourable terms and Spelthorne Borough Council granting the company 100% discretionary Rates Relief. In addition, the company has expanded its user base and has managed to increase both usage levels and rates with existing users.

The members believe that the ongoing support of London Irish Amateur Rugby Club Limited and Spelthorne Borough Council, combined with the site's steadily increasing user base and an active cost management approach, will enable the company to continue to manage business risks successfully, meet future liabilities as they fall due, and continue to operate within its market.

After making due enquiries of both London Irish Amateur Rugby Club Limited and its other main users, the members have a reasonable expectation the company will continue to have access to working capital to be able to continue in operational existence for the foreseeable future. Accordingly the directors continue to adopt the going concern basis in preparing the financial statements.

Hazelwood Community Company

Notes to the Financial Statements for the Year Ended 30 June 2024

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the 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 from food and drink when the purchase is made at the date of the transaction, 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.

Tax

The tax expense for the period comprises current tax and deferred tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive 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.

Tangible assets

Tangible assets are stated in the statement of financial position 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
Fixtures & Fittings	25% reducing balance
Motor Vehicles	25% reducing balance
Equipment	25% straight line

Negative goodwill

The company establishes a reliable estimate of negative goodwill and this value is amortised over the expected useful lives of the assets concerned.

Asset class	Method and rate
Stock	Straight line - one year
Fixed Assets	Straight line - five 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 Community Company

Notes to the Financial Statements for the Year Ended 30 June 2024

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

The cost of finished goods comprises direct materials and, where applicable, 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 income statement 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.

Finance leases and hire purchase

Assets held under hire purchase contracts are capitalised at the lesser of fair value or present value of minimum lease payments in the statement of financial position. The present value of the minimum lease payments is calculated using the interest rate implicit in the lease. A corresponding liability is recognised at the same value in the statement of financial position. The asset is then depreciated over its useful life.

The minimum lease payments are apportioned between the finance charge recognised in the income statement and the reduction of the outstanding liability using the effective interest method. The finance charge in each period is allocated so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company during the year, was 20 (2023 - 22).

Hazelwood Community Company

Notes to the Financial Statements for the Year Ended 30 June 2024

4	Intangible assets

	Negative Goodwill  £	Total £
Cost or valuation
At 1 July 2023	43,292	43,292
At 30 June 2024	43,292	43,292
Amortisation
At 1 July 2023	(43,292)	(43,292)
At 30 June 2024	(43,292)	(43,292)
Carrying amount
At 30 June 2024	-	-

5	Tangible assets

	Furniture, fittings and equipment  £	Motor vehicles  £	Total £
Cost or valuation
At 1 July 2023	299,369	4,865	304,234
Additions	2,204	-	2,204
At 30 June 2024	301,573	4,865	306,438
Depreciation
At 1 July 2023	122,526	3,818	126,344
Charge for the year	40,294	267	40,561
At 30 June 2024	162,820	4,085	166,905
Carrying amount
At 30 June 2024	138,753	780	139,533
At 30 June 2023	176,843	1,047	177,890

6

Stocks

	2024 £	2023 £
Stock	16,206	2,500

Hazelwood Community Company

Notes to the Financial Statements for the Year Ended 30 June 2024

7

Debtors

	2024 £	2023 £
Trade debtors	18,033	6,248
Other debtors	39,636	9,216
	57,669	15,464

8

Creditors

Creditors: amounts falling due within one year

	2024 £	2023 £
Bank and other borrowings & hire purchase contracts	246,957	116,699
Trade creditors	97,940	98,171
Taxation and social security	18,734	33,210
Other creditors	47,650	73,570
	411,281	321,650

Net obligations under hire purchase agreements are secured on the specific assets financed.

9	Loans and borrowings

	2024 £	2023 £
Current loans and borrowings
Bank and other borrowings	246,957	116,699

 

	2024 £	2023 £
Non-current loans and borrowings
Bank and other borrowings	19,655	34,700

The bank loan accessed via the Government supported “Bounce Bank Loan Scheme” is under the terms of that scheme, unsecured.

Net obligations under hire purchase agreements are secured on the specific assets financed.

10	COMPANY LIMITED BY GUARANTEE

The Company is Limited by guarantee (Limited to £1 per member).