Company registration number 9119714 (England and Wales)
HORIZON HOLDING (UK) LTD
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
HORIZON HOLDING (UK) LTD
CONTENTS
Page
Directors' report
1
Accountants' report
2
Profit and loss account
3
Balance sheet
4
Statement of changes in equity
5
Notes to the financial statements
6 - 9
HORIZON HOLDING (UK) LTD
COMPANY INFORMATION
Directors
I Cacic
Mr M A Flanagan
(Appointed 30 October 2022)
Secretary
Wilton Corporate Services Limited
Company number
9119714
Registered office
C/O Wilton UK (Group) Limited
17 Hanover Square
London
United Kingdom
W1S 1BN
Accountants
Wilton UK (Group) Limited
C/O Wilton UK (Group) Limited
17 Hanover Square
London
United Kingdom
W1S 1BN
HORIZON HOLDING (UK) LTD
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2022
- 1 -

The directors present their annual report and financial statements for the year ended 31 December 2022.

Principal activities

The principal activity of the company continued to be that of a holding company.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

N Mitchell
(Resigned 30 October 2022)
I Cacic
Mr M A Flanagan
(Appointed 30 October 2022)
Small companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

On behalf of the board
I Cacic
Director
29 September 2023
HORIZON HOLDING (UK) LTD
REPORT TO THE DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY ACCOUNTS OF HORIZON HOLDING (UK) LTD
- 2 -

We have prepared for your approval the financial statements of Horizon Holding (UK) Limited for the year ended 31 December 2022 which comprise the statement of profit or loss and other comprehensive income, the statement of financial position, the statement of changes in equity and the related notes from the Company’s accounting records and from information and explanations you have given us.

 

It is your duty to ensure that Horizon Holding (UK) 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 results of Horizon Holding (UK) Limited. The directors note that Horizon Holding (UK) Limited is exempt from statutory audit requirement.

 

We have not been instructed to carry out an audit or a review of the financial statement of Horizon Holding (UK)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.

 

Wilton UK (Group) Limited
29 September 2023
Accountants
C/O Wilton UK (Group) Limited
17 Hanover Square
London
United Kingdom
W1S 1BN
HORIZON HOLDING (UK) LTD
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2022
- 3 -
2022
2021
Notes
Administrative expenses
(78,129)
(65,018)
Interest receivable and similar income
3
23,958
19,273
Loss before taxation
(54,171)
(45,745)
Tax on loss
-
0
-
0
(Loss) for the financial year
(54,171)
(45,745)
HORIZON HOLDING (UK) LTD
BALANCE SHEET
AS AT
31 DECEMBER 2022
31 December 2022
- 4 -
2022
2021
Notes
Fixed assets
Investments
4
183,602
183,602
Current assets
Debtors
5
2,861
874,807
Cash at bank and in hand
952,784
254,862
955,645
1,129,669
Creditors: amounts falling due within one year
Other creditors
1,083,151
1,203,004
Net current liabilities
(127,506)
(73,335)
Net assets
56,096
110,267
Capital and reserves
Called up share capital
9
11,270
11,270
Profit and loss reserves
10
44,826
98,997
Total equity
56,096
110,267

The notes on pages 6 to 9 form part of these financial statements.

For the financial year ended 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 29 September 2023 and are signed on its behalf by:
I Cacic
Director
Company Registration No. 9119714
HORIZON HOLDING (UK) LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2022
- 5 -
Share capital
Profit and loss reserves
Total
Balance at 1 January 2021
11,270
144,742
156,012
Year ended 31 December 2021:
Loss and total comprehensive income for the year
-
(45,745)
(45,745)
Balance at 31 December 2021
11,270
98,997
110,267
Year ended 31 December 2022:
Loss and total comprehensive income for the year
-
(54,171)
(54,171)
Balance at 31 December 2022
11,270
44,826
56,096

The notes on pages 6 to 9 form part of these financial statements.

HORIZON HOLDING (UK) LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
- 6 -
1
Accounting policies
Company information

Horizon Holding (UK) Ltd is a private company limited by shares incorporated in England and Wales. The registered office is C/O Wilton UK (Group) Limited, 17 Hanover Square, London, United Kingdom, W1S 1BN.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest €.

The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

1.3
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.4
Financial instruments
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payment discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

HORIZON HOLDING (UK) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
1
Accounting policies
(Continued)
- 7 -
1.5
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2022
2021
Number
Number
Total
-
0
-
0
3
Interest receivable and similar income
2022
2021
Interest receivable and similar income includes the following:
Interest receivable from group companies
23,958
19,273
4
Fixed asset investments
2022
2021
Shares in group undertakings and participating interests
183,602
183,602
Financial assets for which fair value cannot be measured reliably
Movements in fixed asset investments
Shares in group undertakings
Cost or valuation
At 1 January 2022 & 31 December 2022
183,602
Carrying amount
At 31 December 2022
183,602
At 31 December 2021
183,602
HORIZON HOLDING (UK) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
- 8 -
5
Debtors
2022
2021
Amounts falling due within one year:
Prepayments and accrued income
2,861
2,596
2022
2021
Amounts falling due after more than one year:
Amounts owed by group undertakings
-
0
872,211
Total debtors
2,861
874,807
7
Creditors: amounts falling due within one year
2022
2021
Amounts owed to undertakings in which the company has a participating interest
641,827
800,000
Other creditors
407,356
369,036
Accruals and deferred income
33,968
33,968
1,083,151
1,203,004
8
Creditors: amounts falling due after more than one year
2022
2021
9
Called up share capital
2022
2021
2022
2021
Ordinary share capital
Number
Number
Issued and fully paid
Ordinary of €1 each
11,270
11,270
11,270
11,270
10
Profit and loss reserves
2022
2021
At the beginning of the year
98,997
144,742
Loss for the year
(54,171)
(45,745)
At the end of the year
44,826
98,997
HORIZON HOLDING (UK) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
- 9 -
11
Parent company

The controlling party is Mr A Grisin.

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