Company registration number 05574911 (England and Wales)
HAZELEY GROUP LIMITED
Unaudited Financial Statements
For The Year Ended 28 February 2025
Pages For Filing With Registrar
Hazeley Group Limited
HAZELEY GROUP LIMITED
Company Information
Directors
Mrs S L A Andrews
Mr J P Humphrey
Mrs N Bream
Mr E Andrews
Secretary
Mrs N Bream
Company number
05574911
Registered office
Unit 15a Hazeley Enterprise Park
Hazeley Road
Twyford
Winchester
Hampshire
England
SO21 1QA
Accountants
Chavereys Limited
The Goods Shed
Jubilee Way
Faversham
Kent
England
ME13 8GD
Hazeley Group Limited
HAZELEY GROUP LIMITED
Contents
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 11
Hazeley Group Limited
HAZELEY GROUP LIMITED
Accountants' Report To The Board Of Directors On The Preparation Of The Unaudited Statutory Financial Statements Of Hazeley Group Limited For The Year Ended 28 February 2025
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Hazeley Group Limited for the year ended 28 February 2025 which comprise, the balance sheet and the related notes 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 https://www.icaew.com/regulation.

This report is made solely to the b oard of d irectors of Hazeley Group Limited, as a body, in accordance with the terms of our engagement letter dated 8 March 2024. Our work has been undertaken solely to prepare for your approval the financial statements of Hazeley Group Limited and state those matters that we have agreed to state to the b oard of d irectors of Hazeley Group Limited, 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 Hazeley Group Limited and its b oard of d irectors as a body, for our work or for this report.

It is your duty to ensure that Hazeley Group 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 Hazeley Group Limited. You consider that Hazeley Group 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 Hazeley Group 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 f inancial statements.

Chavereys Limited
Chartered Accountants
The Goods Shed
Jubilee Way
Faversham
Kent
ME13 8GD
England
6 October 2025
Hazeley Group Limited
HAZELEY GROUP LIMITED
Balance Sheet
As At 28 February 2025
28 February 2025
- 2 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
4
2,538,274
1,542,075
Investment property
5
18,097,662
18,832,662
Investments
6
1,582,477
1,582,477
22,218,413
21,957,214
Current assets
Debtors
7
513,446
382,350
Cash at bank and in hand
12,576,298
13,126,135
13,089,744
13,508,485
Creditors: amounts falling due within one year
8
(1,167,556)
(1,360,693)
Net current assets
11,922,188
12,147,792
Total assets less current liabilities
34,140,601
34,105,006
Creditors: amounts falling due after more than one year
9
(13,568,119)
(14,177,119)
Provisions for liabilities
10
(337,633)
(398,562)
Net assets
20,234,849
19,529,325
Capital and reserves
Called up share capital
63,000
63,000
Share premium account
2,574,721
2,574,721
Revaluation reserve
13
7,212,164
7,748,292
Profit and loss reserves
10,384,964
9,143,312
Total equity
20,234,849
19,529,325
Hazeley Group Limited
HAZELEY GROUP LIMITED
Balance Sheet (Continued)
As At 28 February 2025
28 February 2025
- 3 -

For the financial year ended 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he 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 directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 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.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 6 October 2025 and are signed on its behalf by:
Mrs N Bream
Director
Company registration number 05574911 (England and Wales)
Hazeley Group Limited
HAZELEY GROUP LIMITED
Notes To The Financial Statements
For The Year Ended 28 February 2025
- 4 -
1
Accounting policies
Company information

Hazeley Group Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 15a Hazeley Enterprise Park, Hazeley Road, Twyford, Winchester, Hampshire, England, SO21 1QA.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recover ed.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
Not depreciated
Plant and equipment
3 - 15 years

Assets in the course of construction are not depreciated.

Hazeley Group Limited
HAZELEY GROUP LIMITED
Notes To The Financial Statements (Continued)
For The Year Ended 28 February 2025
1
Accounting policies
(Continued)
- 5 -

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. Changes in fair value are recognised in profit or loss.

1.5
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Hazeley Group Limited
HAZELEY GROUP LIMITED
Notes To The Financial Statements (Continued)
For The Year Ended 28 February 2025
1
Accounting policies
(Continued)
- 6 -
1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.10
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Hazeley Group Limited
HAZELEY GROUP LIMITED
Notes To The Financial Statements (Continued)
For The Year Ended 28 February 2025
1
Accounting policies
(Continued)
- 7 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.11
Provisions

Provisions are recognised when the company has a legal or constructive present obligation as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision i s measured at present value, the unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

1.12
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.13
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.14
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

2
Judgements and key sources of estimation uncertainty

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 the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Hazeley Group Limited
HAZELEY GROUP LIMITED
Notes To The Financial Statements (Continued)
For The Year Ended 28 February 2025
- 8 -
3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
7
8
4
Tangible fixed assets
Freehold land and buildings
Assets under construction
Plant and equipment
Total
£
£
£
£
Cost or valuation
At 1 March 2024
861,482
541,076
403,426
1,805,984
Additions
-
0
1,017,757
3,662
1,021,419
Disposals
-
0
-
0
(234,060)
(234,060)
At 28 February 2025
861,482
1,558,833
173,028
2,593,343
Depreciation and impairment
At 1 March 2024
-
0
-
0
263,909
263,909
Depreciation charged in the year
-
0
-
0
20,043
20,043
Eliminated in respect of disposals
-
0
-
0
(228,883)
(228,883)
At 28 February 2025
-
0
-
0
55,069
55,069
Carrying amount
At 28 February 2025
861,482
1,558,833
117,959
2,538,274
At 29 February 2024
861,482
541,076
139,517
1,542,075

Land and buildings with a carrying amount of £861,482 were revalued at 28 February 2023 by Savills Chartered Surveyors, independent valuers not connected with the company on the basis of market value. The directors consider this valuation to be appropriate at the year end.

The revaluation surplus is disclosed in note 13.

The following assets are carried at valuation. If the assets were measured using the cost model, the carrying amounts would be as follows:

Freehold land and buildings
Plant and equipment
2025
2024
2025
2024
£
£
£
£
Cost
977,614
977,614
173,028
403,426
Accumulated depreciation
(7,104)
(7,104)
(55,069)
(263,909)
Carrying value
970,510
970,510
117,959
139,517
Hazeley Group Limited
HAZELEY GROUP LIMITED
Notes To The Financial Statements (Continued)
For The Year Ended 28 February 2025
- 9 -
5
Investment property
2025
£
Fair value
At 1 March 2024
18,832,662
Disposals
(735,000)
At 28 February 2025
18,097,662

Investment property comprises of commercial and residential let properties. The fair value of the investment property has been arrived at on the basis of a valuation carried out at 28 February 2023 by Savills Chartered Surveyors, who are not connected with the company, less disposals in the year. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties. The directors consider this valuation to be appropriate at the year end.

6
Fixed asset investments
2025
2024
£
£
Shares in group undertakings and participating interests
1,582,477
1,582,477
7
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
10,145
11,769
Corporation tax recoverable
-
0
294,550
Other debtors
503,301
76,031
513,446
382,350
8
Creditors: amounts falling due within one year
2025
2024
£
£
Other loans
609,000
609,000
Trade creditors
190,950
133,962
Corporation tax
194,229
219,719
Other taxation and social security
7,733
18,319
Other creditors
60,728
50,124
Accruals and deferred income
104,916
329,569
1,167,556
1,360,693
Hazeley Group Limited
HAZELEY GROUP LIMITED
Notes To The Financial Statements (Continued)
For The Year Ended 28 February 2025
- 10 -
9
Creditors: amounts falling due after more than one year
2025
2024
£
£
Other loans
13,568,119
14,177,119

Other loans are in respect of loan notes issued in 2013 and 2022 by the shareholders regarding the purchase of Humphrey Trading Limited (2013) and further cash introduced (2022). The 2013 notes are secured by way of a fixed mortgage dated 8 January 2014 and the 2022 a floating charge over the assets of the company. Early repayments have been made in previous years.

10
Provisions for liabilities
2025
2024
£
£
Restructuring and dilapidations
173,392
173,392
Deferred tax liabilities
11
164,241
225,170
337,633
398,562

The company previously provided £6,392 (2024 - £6,392) for farm restructuring costs resulting from a strategic review by the directors and £167,000 (2024 - £167,000) in respect of dilapidations to land on which a feed mill is situated.

11
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2025
2024
Balances:
£
£
Accelerated capital allowances
102,806
110,626
Revaluations
61,435
114,544
164,241
225,170
2025
Movements in the year:
£
Liability at 1 March 2024
225,170
Credit to profit or loss
(7,820)
Revaluations
(53,109)
Liability at 28 February 2025
164,241
Hazeley Group Limited
HAZELEY GROUP LIMITED
Notes To The Financial Statements (Continued)
For The Year Ended 28 February 2025
- 11 -
12
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
69,939
42,514

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

13
Revaluation reserve
2025
2024
£
£
At the beginning of the year
7,748,292
9,060,017
Revaluation surplus arising in the year
-
(1,197,181)
Adjustment to deferred tax rate - tangible assets
53,109
(114,544)
Disposals
(589,237)
-
At the end of the year
7,212,164
7,748,292
14
Operating lease commitments
Lessor

At the reporting end date the company had contracted with tenants for the following minimum lease payments:

2025
2024
£
£
2,459,651
2,658,278
15
Related party transactions

During the year the company traded with Hazeley Developments Limited (subsidiary) and transactions were at arm's length prices and in the normal course of business. At the year end no amounts were due to or from the company.

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