REGISTERED NUMBER: 01759343 (England and Wales)

Financial Statements

for the Period 1 January 2024 to 31 March 2025

for

Hazelwood Distribution Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Mr T Hazelwood

Mr G Hazelwood

SECRETARY:

Mr T Hazelwood

REGISTERED OFFICE:

Moor Lane

Thorpe on the Hill

LINCOLN

Lincolnshire

LN6 9BW

REGISTERED NUMBER:

01759343 (England and Wales)

ACCOUNTANTS:

Nicholsons

Chartered Accountants

Newland House

The Point

Weaver Road

LINCOLN

Lincolnshire

LN6 3QN

BANKERS:

HSBC Bank plc

221 High Street

LINCOLN

Lincolnshire

LN1 1TS

SOLICITORS:

Bambridges

27 Wide Bargate

BOSTON

Lincolnshire

PE21 6SW

FIXED ASSETS

Tangible assets

4

7,894

9,649

Investment property

5

1,421,829

1,421,829

1,429,723

1,431,478

CURRENT ASSETS

Debtors

6

19,051

16,272

Cash at bank

125,464

88,990

144,515

105,262

CREDITORS

Amounts falling due within one year

7

184,019

161,987

NET CURRENT LIABILITIES

(39,504

)

(56,725

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,390,219

1,374,753

CREDITORS

Amounts falling due after more than one year

8

(5,545

)

(17,157

)

PROVISIONS FOR LIABILITIES

(29,090

)

(29,529

)

NET ASSETS

1,355,584

1,328,067

CAPITAL AND RESERVES

Called up share capital

153

153

Retained earnings

10

1,355,431

1,327,914

SHAREHOLDERS' FUNDS

1,355,584

1,328,067

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 December 2025 and were signed on its behalf by:

Mr T Hazelwood - Director

Mr G Hazelwood - Director

1.	STATUTORY INFORMATION

Hazelwood Distribution Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover represents rental income excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

15% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the profit and loss.

Financial instruments

Only basic financial instruments as defined in FRS 102 are held. Financial assets and financial liabilities are recognised in the accounts only when the entity becomes party to the contractual provisions of the instrument and their measurement basis is as follows:

Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments.

Cash at bank is classified as a basic financial instrument and is measured at transaction price.

Financial liabilities - trade creditors, accruals and other creditors are basic financial instruments, and are measured at amortised cost. Where a financial liability constitutes a financing transaction it is initially and subsequently measured at the present value of future payments, discounted at a market rate of interest.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Operating lease income

Rental income from operating leases is recognised on a straight line basis over the term of the lease.

Government grants

Government grants which have been accounted for under the performance model are recognised when it is reasonable to expect that the grants will be received and that all related conditions will be met.

Change in accounting period

The accounting period was changed from 31 December to 31 March to tie in with the year end of the related partnership. Therefore the current period covers 15 months and so is not directly comparable to the year to 31 December 2023 which was also prepared under FRS 102 (1A).

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 4 (2023 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 January 2024

and 31 March 2025

36,110

DEPRECIATION

At 1 January 2024

26,461

Charge for period

1,755

At 31 March 2025

28,216

NET BOOK VALUE

At 31 March 2025

7,894

At 31 December 2023

9,649

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

and 31 March 2025

1,421,829

NET BOOK VALUE

At 31 March 2025

1,421,829

At 31 December 2023

1,421,829

The historical cost of the investment properties is £1,241,498 (2023: £1,241,498).

If the properties were to be sold at their revalued amount there would be an additional charge to tax of £27,117 (2023: £27,117).

If depreciation had been charged on historical cost during the year the cumulative charge would have been £872,739 (2023: £845,699).

All of the investment properties are rented out under operating leases. The rental income received from operating leases totalled £239,673 (2023: £175,301).

The investment properties were valued by the Directors in 2023 on an open market basis. This was based on similar properties in the area which had sitting tenants.

Fair value at 31 March 2025 is represented by:

£

Valuation in 2019

180,331

Cost

1,241,498

1,421,829

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2023

£

£

Trade debtors

3,065

1,797

Loan: Hazelwood Ski World

11,618

9,658

Prepayments and accrued income

4,368

4,817

19,051

16,272

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2023

£

£

Bank loans and overdrafts (see note 9)

9,318

9,031

Trade creditors

975

640

Tax

18,461

5,355

Social security and other taxes

406

1,132

VAT

10,308

4,385

Directors' current accounts

140,876

136,876

Accruals and deferred income

3,675

4,568

184,019

161,987

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2023

£

£

Bank loans (see note 9)

5,545

17,157

9.

LOANS

An analysis of the maturity of loans is given below:

2025

2023

£

£

Amounts falling due within one year or on demand:

Bank loans

9,318

9,031

Amounts falling due between two and five years:

Bank loans - 2-5 years

5,545

17,157

10.

RESERVES

Retained

earnings

£

At 1 January 2024

1,327,914

Profit for the period

67,517

Dividends

(40,000

)

At 31 March 2025

1,355,431

Included within reserves is an amount of £207,448 (2023: £153,214) which relates to an upward revaluation of investment properties. This amount does not represent distributable reserves.

11.	RELATED PARTY DISCLOSURES

Included in creditors falling due within one year are the following directors' current account balances :

Mr T Hazelwood £9,570 (2023: £3,812).

Mr G Hazelwood £111,306 (2023: £133,064).

The above loans are unsecured and interest free and repayable on demand.

Hazelwood Ski World

A business in which Messrs T & G Hazelwood are partners.

Included in debtors amounts falling due within one year is £11,618 (2023: £9,658).

The above loans are unsecured and interest free.

A management charge expense was paid to the above partnership of £Nil (2023: £42,000).