Registration number:
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Hazelwood Community Company
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Hazelwood Community Company
Contents
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Company Information |
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Statement of Financial Position |
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Notes to the Financial Statements |
Hazelwood Community Company
Company Information
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Directors |
G L Wheeler R I Ryan |
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Registered office |
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Hazelwood Community Company
Statement of Financial Position as at 30 June 2025
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Note |
2025 |
2024 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current liabilities |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
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Provisions for liabilities |
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Net liabilities |
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Capital and reserves |
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Profit and loss account |
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Total equity |
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For the financial year ending 30 June 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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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 2025
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’.
Approved and authorised by the
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R I Ryan
Director
Company registration number: 10535141
Hazelwood Community Company
Notes to the Financial Statements for the Year Ended 30 June 2025
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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:
The principal activity of the company is the administration of a sporting facility.
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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 fortunes of the Company continued to improve, with a positive EBITDA of £38,841. This is a much improved result from previous years, per the management accounts the result for the 10 months ending 30th April 2026 is a loss of £16,468.
It is three years (7th June 2023) since the professional club went into administration, during this time the company has successfully managed to build its user base to offset the loss of income arising from the demise of professional club. The year on year growth in turnover to June 2025 was 21.5% and the growth in turnover in the year June 2026 is expected to be similar.
With the continued support of Spelthorne Borough Council through their granting of Rates Relief, the continued support of London Irish Amateur Rugby Club Limited (our principal user) and the continued business growth as outlined above will enable the company to meet its future liabilities as they fall due.
The company continues to adopt tight controls over its expenditure and manage its business risks, and feel well placed 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 2025
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.
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:
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Asset class |
Depreciation method and rate |
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Fixtures & Fittings |
25% reducing balance |
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Motor Vehicles |
25% reducing balance |
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Equipment |
25% straight line |
Intangible assets
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.
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Asset class |
Method and rate |
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Stock |
Straight line - one year |
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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.
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.
Hazelwood Community Company
Notes to the Financial Statements for the Year Ended 30 June 2025
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.
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Staff numbers |
The average number of persons employed by the company during the year, was
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Intangible assets |
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Negative Goodwill |
Total |
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Cost or valuation |
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At 1 July 2024 |
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At 30 June 2025 |
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Amortisation |
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At 1 July 2024 |
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At 30 June 2025 |
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Carrying amount |
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At 30 June 2025 |
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Hazelwood Community Company
Notes to the Financial Statements for the Year Ended 30 June 2025
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Tangible assets |
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Furniture, fittings and equipment |
Motor vehicles |
Total |
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Cost or valuation |
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At 1 July 2024 |
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Additions |
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At 30 June 2025 |
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Depreciation |
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At 1 July 2024 |
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Charge for the year |
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At 30 June 2025 |
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Carrying amount |
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At 30 June 2025 |
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At 30 June 2024 |
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Stocks |
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2025 |
2024 |
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Stock |
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Debtors |
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2025 |
2024 |
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Trade debtors |
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Other debtors |
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Hazelwood Community Company
Notes to the Financial Statements for the Year Ended 30 June 2025
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Creditors |
Creditors: amounts falling due within one year
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2025 |
2024 |
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Bank and other borrowings & hire purchase contracts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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Net obligations under hire purchase agreements are secured on the specific assets financed.
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Loans and borrowings |
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2025 |
2024 |
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Current loans and borrowings |
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Bank and other borrowings |
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2025 |
2024 |
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Non-current loans and borrowings |
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Bank and other borrowings |
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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.
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Company Limited By Guarantee |
The Company is Limited by guarantee (Limited to £1 per member).