Hazelhead Developments Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 09574025 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2023

for

Hazelhead Developments Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

W D Smith

P D Buck FCCA

K W Smith

REGISTERED OFFICE:

2B Haddo Street

Greenwich

London

SE10 9RN

REGISTERED NUMBER:

09574025 (England and Wales)

ACCOUNTANTS:

Burnbecks Limited

Chartered Certified Accountants

2B Haddo Street

Greenwich

London

SE10 9RN

FIXED ASSETS

Investment property

4

265,000

265,000

CURRENT ASSETS

Debtors

600

189,982

Cash at bank and in hand

9,155

1,865

9,755

191,847

CREDITORS

Amounts falling due within one year

990

1,880

NET CURRENT ASSETS

8,765

189,967

TOTAL ASSETS LESS CURRENT LIABILITIES

273,765

454,967

CREDITORS

Amounts falling due after more than one year

(411,989

)

(569,855

)

PROVISIONS FOR LIABILITIES

(653

)

(496

)

NET LIABILITIES

(138,877

)

(115,384

)

CAPITAL AND RESERVES

Called up share capital

100

100

Fair value reserve

5

1,958

2,115

Retained earnings

(140,935

)

(117,599

)

SHAREHOLDERS' FUNDS

(138,877

)

(115,384

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 15 May 2023 and were signed on its behalf by:

W D Smith - Director

1.	STATUTORY INFORMATION

Hazelhead Developments 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.

At the balance sheet date the company's liabilities exceeded its assets by £138,877. Working capital is provided by a long-term loan from an associate company and as this loan, and the associated interest charged, will only be repaid once cash flow permits, the directors have prepared these accounts on a going concern basis.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investment property

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

Taxation

Taxation for the year 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2022

and 31 March 2023

265,000

NET BOOK VALUE

At 31 March 2023

265,000

At 31 March 2022

265,000

Fair value at 31 March 2023 is represented by:

£

Valuation in 2018

2,611

Cost

262,389

265,000

If investment property had not been revalued it would have been included at the following historical cost:

31.3.23

31.3.22

£

£

Cost

262,389

262,389

Investment property was valued on a fair value basis basis on 31 March 2023 by the directors .

5.

RESERVES

Fair

value

reserve

£

At 1 April 2022

2,115

Deferred tax

(157

)

At 31 March 2023

1,958