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REGISTERED NUMBER: 07949703 (England and Wales)











Unaudited Financial Statements

for the Year Ended 28 February 2023

for

Horizon Creative Services Limited

Horizon Creative Services Limited (Registered number: 07949703)






Contents of the Financial Statements
for the Year Ended 28 February 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Horizon Creative Services Limited

Company Information
for the Year Ended 28 February 2023







DIRECTORS: A J Hendry
Mrs V M Hendry



SECRETARY: Mrs V M Hendry



REGISTERED OFFICE: 93 Constable Road
Ipswich
Suffolk
IP4 2XA



REGISTERED NUMBER: 07949703 (England and Wales)



ACCOUNTANTS: Ballams Chartered Accountants
Crane Court
302 London Road
Ipswich
Suffolk
IP2 0AJ



BANKERS: HSBC Bank PLC
PO Box 68
130 New Street
Birmingham
West Midlands
B2 4JU

Horizon Creative Services Limited (Registered number: 07949703)

Statement of Financial Position
28 February 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 10,304 9,497

CURRENT ASSETS
Stocks 9,992 -
Debtors 5 54,258 29,727
Cash at bank 49,034 39,046
113,284 68,773
CREDITORS
Amounts falling due within one year 6 51,820 30,703
NET CURRENT ASSETS 61,464 38,070
TOTAL ASSETS LESS CURRENT LIABILITIES 71,768 47,567

PROVISIONS FOR LIABILITIES 7 1,781 1,589
NET ASSETS 69,987 45,978

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 69,887 45,878
SHAREHOLDERS' FUNDS 69,987 45,978

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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.

Horizon Creative Services Limited (Registered number: 07949703)

Statement of Financial Position - continued
28 February 2023


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 and authorised for issue on 27 November 2023 and were signed on its behalf by:





A J Hendry - Director


Horizon Creative Services Limited (Registered number: 07949703)

Notes to the Financial Statements
for the Year Ended 28 February 2023

1. STATUTORY INFORMATION

Horizon Creative Services 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.

Turnover
Turnover represents the sale of services, is recognised on provision of the service and excludes Value Added Tax.

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 - 20% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable and loans with related parties.

Debt instruments that are payable or receivable within one year, such as trade payables or receivables, are measured at the undiscounted amount of the cash or other consideration expected to be paid or received. Debt instruments that are repayable or receivable after one year are initially measured at the present value of the future cash flows and subsequently at amortised cost using the effective interest method.

Financial assets that are measured at cost and amortised cost are assessed at the end of each financial year for evidence of impairment. If objective evidence of impairment is found an impairment loss is recognised in the Income Statement.

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.


Horizon Creative Services Limited (Registered number: 07949703)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

2. ACCOUNTING POLICIES - continued
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.

Government grants
Grants are accounted for using the accrual model.

Grants relating to revenue are recognised in the Statement of Income and Retained Earnings in the same period as the related costs for which the grant is intended to compensate. Where there are no related costs the grant is recognised in the period in which it becomes receivable.

Grants relating to assets are recognised in the Statement of Income and Retained Earnings over the expected useful life of the asset.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 March 2022 27,315
Additions 3,127
At 28 February 2023 30,442
DEPRECIATION
At 1 March 2022 17,818
Charge for year 2,320
At 28 February 2023 20,138
NET BOOK VALUE
At 28 February 2023 10,304
At 28 February 2022 9,497

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 54,258 29,727

Horizon Creative Services Limited (Registered number: 07949703)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 47,509 27,376
Other creditors 4,311 3,327
51,820 30,703

7. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Accelerated capital allowances 1,781 1,589

Deferred
tax
£   
Balance at 1 March 2022 1,589
Charge to Statement of Income and Retained Earnings during year 192
Accelerated capital allowance
Balance at 28 February 2023 1,781

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
98 Ordinary A £1 98 98
2 Ordinary B £1 2 2
100 100