Hazeldell Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09166674 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2019

for

HAZELDELL LTD

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

Directors:

Mrs H K Sohal

Mr K I S Sohal

Mr K P Sohal

Registered office:

51 Parkstone Avenue

Emerson Park

Hornchurch

Essex

RM11 3LN

Registered number:

09166674 (England and Wales)

Accountants:

Haines Watts Essex LLP

Chartered Accountants

Coopers House

65a Wingletye Lane

Hornchurch

Essex

RM11 3AT

Fixed assets

Intangible assets

4

63,000

70,000

Tangible assets

5

7,334,315

7,245,584

7,397,315

7,315,584

Current assets

Debtors

6

180,542

254,515

Cash at bank and in hand

7,305

5,398

187,847

259,913

Creditors

Amounts falling due within one year

7

752,608

958,383

Net current liabilities

(564,761

)

(698,470

)

Total assets less current liabilities

6,832,554

6,617,114

Creditors

Amounts falling due after more than one year

8

(6,328,653

)

(6,276,060

)

Provisions for liabilities

11

(14,001

)

(15,065

)

Net assets

489,900

325,989

Capital and reserves

Called up share capital

12

3

3

Retained earnings

489,897

325,986

Shareholders' funds

489,900

325,989

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 20 September 2019 and were signed on its behalf by:

Mr K P Sohal - Director

1.	Statutory information

Hazeldell Ltd 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.

Turnover

Turnover represents the charges made to residents for care and related services. Such charges are exempt for

VAT purposes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of thirteen years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Freehold property

-

nil on land & buildings

Fixtures and fittings

-

20% on reducing balance

Computer equipment

-

20% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and

Retained Earnings, 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 year 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

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.

3.	Employees and directors

The average number of employees during the year was 54 (2018 - 49 ) .

4.	Intangible fixed assets

Goodwill

£

Cost

At 1 April 2018

and 31 March 2019

91,583

Amortisation

At 1 April 2018

21,583

Amortisation for year

7,000

At 31 March 2019

28,583

Net book value

At 31 March 2019

63,000

At 31 March 2018

70,000

5.	Tangible fixed assets

Fixtures

Freehold

and

Computer

property

fittings

equipment

Totals

£

£

£

£

Cost

At 1 April 2018

7,166,295

128,371

465

7,295,131

Additions

94,331

12,066

-

106,397

At 31 March 2019

7,260,626

140,437

465

7,401,528

Depreciation

At 1 April 2018

-

49,315

232

49,547

Charge for year

-

17,620

46

17,666

At 31 March 2019

-

66,935

278

67,213

Net book value

At 31 March 2019

7,260,626

73,502

187

7,334,315

At 31 March 2018

7,166,295

79,056

233

7,245,584

6.

Debtors

31.3.19

31.3.18

£

£

Amounts falling due within one year:

Trade debtors

61,863

30,475

Other debtors

6,848

10,348

68,711

40,823

31.3.19

31.3.18

£

£

Amounts falling due after more than one year:

Other debtors

111,831

213,692

Aggregate amounts

180,542

254,515

7.

Creditors: amounts falling due within one year

31.3.19

31.3.18

£

£

Bank loans and overdrafts

419,740

421,443

Trade creditors

29,848

18,020

Taxation and social security

41,155

26,210

Other creditors

261,865

492,710

752,608

958,383

8.

Creditors: amounts falling due after more than one year

31.3.19

31.3.18

£

£

Bank loans

4,048,016

4,236,542

Other creditors

2,280,637

2,039,518

6,328,653

6,276,060

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

3,275,228

3,555,778

9.	Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.3.19

31.3.18

£

£

Within one year

5,872

2,415

Between one and five years

19,607

3,879

In more than five years

9,360

-

34,839

6,294

10.	Secured debts

The following secured debts are included within creditors:

31.3.19

31.3.18

£

£

Bank loans

4,241,213

4,353,499

The company has provided security to its bankers, Barclays Bank PLC, by way of a negative pledge. This

security is provided in respect of any monies due to the bank.

11.	Provisions for liabilities

31.3.19

31.3.18

£

£

Deferred tax

14,001

15,065

Deferred

tax

£

Balance at 1 April 2018

15,065

Provided during year

(1,064

)

Balance at 31 March 2019

14,001

12.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.19

31.3.18

value:

£

£

3

Ordinary

£1

3

3

13.	Directors' advances, credits and guarantees

The following advances and credits to directors subsisted during the years ended 31 March 2019 and

31 March 2018:

31.3.19

31.3.18

£

£

Mr K P Sohal

Balance outstanding at start of year

(22,906

)

(28,001

)

Amounts advanced

15,184

16,295

Amounts repaid

-

(11,200

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(7,722

)

(22,906

)

Mrs H K Sohal

Balance outstanding at start of year

(299,767

)

(363,363

)

Amounts advanced

166,837

63,596

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(132,930

)

(299,767

)

Mr K I S Sohal

Balance outstanding at start of year

(135,350

)

(215,697

)

Amounts advanced

53,759

80,347

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(81,591

)

(135,350

)

14.	Related party disclosures

During the year, the company charged The Willows Ipswich Limited £120,000 (2018 - Nil) for rent of the trading

premises.

The company has provided security to the bankers of the below companies under common control

Milton Lodge Limited

Hardwick Dene Limited

Sohal Healthcare Limited

Chalkney House Limited

JK Healthcare Limited

The bankers are Barclays Bank PLC, and security has been provided by way of a negative pledge. This security

is provided in respect of any monies due to the bank.

Milton Lodge Limited

A company under common control.

The above balance is interest free and has no fixed repayment period.

31.3.19

31.3.18

£

£

Amount due to related party at the balance sheet date

74,864

22,321

The above balance is interest free and is repayable in 53 weeks.

Chalkney House Ltd

A company under common control.

31.3.19

31.3.18

£

£

Amount due to related party at the balance sheet date

183,050

165,816

The above balance is interest free and is repayable in 53 weeks.

Hardwick Dene Ltd

A company under common control.

31.3.19

31.3.18

£

£

Amount due to related party at the balance sheet date

509,494

509,218

The above balance is interest free and is repayable in 53 weeks.

Sohal Healthcare Ltd

A company under common control.

31.3.19

31.3.18

£

£

Amount due to related party at the balance sheet date

829,465

759,569

The above balance is interest free and is repayable in 53 weeks.

JK Healthcare Ltd

A company under common control.

31.3.19

31.3.18

£

£

Amount due to related party at the balance sheet date

683,763

582,594

The above balance is interest free and is repayable in 53 weeks.

Comfort Care Services (Colchester) Ltd

A company under common control.

31.3.19

31.3.18

£

£

Amount due from related party at the balance sheet date

69

69

The above balance is interest free and is repayable in 53 weeks.

Oak Health UK Limited

A company under common control.

31.3.19

31.3.18

£

£

Amount due from related party at the balance sheet date

1,920

1,920

The above balance is interest free and is repayable in 53 weeks.

The Willows Ipswich Limited

A company under common control.

31.3.19

31.3.18

£

£

Amount due from related party at the balance sheet date

109,842

211,703

The above balance is interest free and is repayable in 53 weeks.