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REGISTERED NUMBER: 06591612 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2022

for

Group Horizon Limited

Group Horizon Limited (Registered number: 06591612)






Contents of the Financial Statements
for the Year Ended 31 March 2022




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


Group Horizon Limited

Company Information
for the Year Ended 31 March 2022







DIRECTOR: P Behan





REGISTERED OFFICE: Unit G24 The Avenues
Eleventh Avenue North Team Valley Tradin
Gateshead
Tyne and Wear
NE11 0NJ





REGISTERED NUMBER: 06591612 (England and Wales)





ACCOUNTANTS: Peter Weldon & Co. Ltd
87 Station Road
Ashington
Northumberland
NE63 8RS

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Group Horizon Limited

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Group Horizon Limited for the year ended 31 March 2022 which comprise the Income Statement, 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Group Horizon Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Group Horizon Limited and state those matters that we have agreed to state to the director of Group Horizon Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Group Horizon Limited and its director for our work or for this report.

It is your duty to ensure that Group Horizon 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 Group Horizon Limited. You consider that Group Horizon 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 Group Horizon 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 financial statements.






Peter Weldon & Co. Ltd
87 Station Road
Ashington
Northumberland
NE63 8RS


14 September 2022

Group Horizon Limited (Registered number: 06591612)

Balance Sheet
31 March 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 60,718 77,333
Tangible assets 5 13,396 16,326
74,114 93,659

CURRENT ASSETS
Debtors 6 495,916 356,289
Investments 7 10 10
Cash at bank and in hand 588 30,313
496,514 386,612
CREDITORS
Amounts falling due within one year 8 244,372 139,378
NET CURRENT ASSETS 252,142 247,234
TOTAL ASSETS LESS CURRENT
LIABILITIES

326,256

340,893

CREDITORS
Amounts falling due after more than one
year

9

164,509

183,812
NET ASSETS 161,747 157,081

CAPITAL AND RESERVES
Called up share capital 37,142 37,142
Retained earnings 124,605 119,939
SHAREHOLDERS' FUNDS 161,747 157,081

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Group Horizon Limited (Registered number: 06591612)

Balance Sheet - continued
31 March 2022


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 director and authorised for issue on 14 September 2022 and were signed by:





P Behan - Director


Group Horizon Limited (Registered number: 06591612)

Notes to the Financial Statements
for the Year Ended 31 March 2022

1. STATUTORY INFORMATION

Group Horizon 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Going concern
The financial statements have been prepared under the going concern basis. Directors have reviewed cashflow forecasts for the forthcoming year and determine the company can meet its liabilities when they fall due. The use of going concern basis is underpinned by the strong current asset position of the company at the balance sheet date.

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

Turnover is recognised once the training service has been provided.

Intangible assets - patents & licences
Patents & Licences are initially measured at cost. After intial recognition, Patents & Licences are measured at cost less any accumulated amortisation and any impairment losses.

Patents & Licences are being amortised evenly over their estimated useful life of 5 years

Intangible assets - software costs
Software costs are initially measured at cost. After initial recognition, Software costs are measured at cost less any accumulated amortisation and any impairment losses.

Software Costs are being amortised evenly over their estimated useful life of 5 years

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 per annum
Fixtures and fittings - 25% on reducing balance per annum

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.

Group Horizon Limited (Registered number: 06591612)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022

2. ACCOUNTING POLICIES - continued

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.

Trade and other debtors
Trade and other debtors that are receivable within one year and do not constitute a financing transaction are recorded at the undiscounted amount expected to be received, net of impairment. Those that are receivable after more than one year or constitute a financing transaction are recorded initially at fair value less transaction costs and subsequently amortised cost, net of impairment.

Trade and other creditors
Trade and other creditors are initially recognised at the transaction price and are thereafter stated at amortised costs using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2021 - 19 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST OR VALUATION
At 1 April 2021
and 31 March 2022 304,735
AMORTISATION
At 1 April 2021 227,402
Charge for year 16,615
At 31 March 2022 244,017
NET BOOK VALUE
At 31 March 2022 60,718
At 31 March 2021 77,333

Group Horizon Limited (Registered number: 06591612)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022

4. INTANGIBLE FIXED ASSETS - continued

Cost or valuation at 31 March 2022 is represented by:

Other
intangible
assets
£   
Valuation in 2018 228,837
Valuation in 2021 75,898
304,735

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 April 2021 31,698 84,515 116,213
Additions - 289 289
At 31 March 2022 31,698 84,804 116,502
DEPRECIATION
At 1 April 2021 22,809 77,078 99,887
Charge for year 1,334 1,885 3,219
At 31 March 2022 24,143 78,963 103,106
NET BOOK VALUE
At 31 March 2022 7,555 5,841 13,396
At 31 March 2021 8,889 7,437 16,326

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 221,597 185,130
Amounts owed by group undertakings 143,753 145,946
Corporation Tax 30,923 -
VAT 1,262 -
Prepayments and accrued income 98,381 25,213
495,916 356,289

Group Horizon Limited (Registered number: 06591612)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022

7. CURRENT ASSET INVESTMENTS
2022 2021
£    £   
Investments in subsidiary
undertakings 10 10
10 10

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 15,982 -
Other loans 31,680 31,680
Trade creditors 77,549 48,264
Social security and other taxes 58,240 45,862
VAT - 4,822
Other creditors 42 386
Wages and salaries control 739 -
Factoring account 50,342 31
Directors' current accounts 7,781 855
Accrued expenses 2,017 7,478
244,372 139,378

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2022 2021
£    £   
Bank loans 42,157 50,000
Other loans - 2-5 years 122,352 133,812
164,509 183,812

10. SECURED DEBTS

The following secured debts are included within creditors:

2022 2021
£    £   
Bank overdraft 10,100 -

Bank overdraft is secured by a fixed charge over the assets of the company.