Caseware UK (AP4) 2022.0.179 2022.0.179 2023-08-312023-08-312022-09-01The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truefalseNo description of principal activity1722false 04482437 2022-09-01 2023-08-31 04482437 2021-09-01 2022-08-31 04482437 2023-08-31 04482437 2022-08-31 04482437 c:Director1 2022-09-01 2023-08-31 04482437 c:Director2 2022-09-01 2023-08-31 04482437 c:Director3 2022-09-01 2023-08-31 04482437 c:Director4 2022-09-01 2023-08-31 04482437 c:RegisteredOffice 2022-09-01 2023-08-31 04482437 d:MotorVehicles 2022-09-01 2023-08-31 04482437 d:MotorVehicles 2023-08-31 04482437 d:MotorVehicles 2022-08-31 04482437 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 04482437 d:ComputerEquipment 2022-09-01 2023-08-31 04482437 d:ComputerEquipment 2023-08-31 04482437 d:ComputerEquipment 2022-08-31 04482437 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 04482437 d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 04482437 d:CurrentFinancialInstruments 2023-08-31 04482437 d:CurrentFinancialInstruments 2022-08-31 04482437 d:Non-currentFinancialInstruments 2023-08-31 04482437 d:Non-currentFinancialInstruments 2022-08-31 04482437 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 04482437 d:CurrentFinancialInstruments d:WithinOneYear 2022-08-31 04482437 d:Non-currentFinancialInstruments d:AfterOneYear 2023-08-31 04482437 d:Non-currentFinancialInstruments d:AfterOneYear 2022-08-31 04482437 d:ShareCapital 2023-08-31 04482437 d:ShareCapital 2022-08-31 04482437 d:RetainedEarningsAccumulatedLosses 2023-08-31 04482437 d:RetainedEarningsAccumulatedLosses 2022-08-31 04482437 c:FRS102 2022-09-01 2023-08-31 04482437 c:AuditExempt-NoAccountantsReport 2022-09-01 2023-08-31 04482437 c:FullAccounts 2022-09-01 2023-08-31 04482437 c:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 04482437 2 2022-09-01 2023-08-31 04482437 6 2022-09-01 2023-08-31 iso4217:GBP xbrli:pure
Company registration number: 04482437







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 AUGUST 2023


HORIZON EXPRESS LIMITED






































img2f76.png                        

 


HORIZON EXPRESS LIMITED
 


 
COMPANY INFORMATION


Directors
Mrs Z Rowe 
D Wilkinson 
J Rowe 
A C Rowe 




Registered number
04482437



Registered office
Logistics House
Woodlands Business Park

Maidenhead

Berkshire

SL6 3UA




Accountants
Menzies LLP
Chartered Accountants

Magna House

18-32 London Road

Staines-Upon-Thames

TW18 4BP





 


HORIZON EXPRESS LIMITED
REGISTERED NUMBER:04482437



STATEMENT OF FINANCIAL POSITION
AS AT 31 AUGUST 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
99,946
61,692

Investments
 5 
50,000
50,000

  
149,946
111,692

Current assets
  

Debtors: amounts falling due within one year
 6 
470,699
383,735

Cash at bank and in hand
  
1,851,928
2,664,861

  
2,322,627
3,048,596

Creditors: amounts falling due within one year
 7 
(56,994)
(467,105)

Net current assets
  
 
 
2,265,633
 
 
2,581,491

Total assets less current liabilities
  
2,415,579
2,693,183

Creditors: amounts falling due after more than one year
 8 
(14,982)
-

Provisions for liabilities
  

Deferred tax
  
(24,987)
(15,423)

  
 
 
(24,987)
 
 
(15,423)

Net assets
  
2,375,610
2,677,760


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
2,375,510
2,677,660

  
2,375,610
2,677,760


Page 1

 


HORIZON EXPRESS LIMITED
REGISTERED NUMBER:04482437


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 AUGUST 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




D Wilkinson
J Rowe
Director
Director


Date: 2 February 2024

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 


HORIZON EXPRESS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

1.


General information

Horizon Express Limited is a private company limited by shares and incorporated in England and Wales. The address of the registered office is given in the company information page of these financial statements.  
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.  

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is generated through courier services and is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. 

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 


HORIZON EXPRESS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Motor vehicles
-
40%
reducing balance
Computer equipment
-
33%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Valuation of investments

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.

Page 4

 


HORIZON EXPRESS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
2.9

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of financial position.

 
2.10

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.11

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 17 (2022 - 22).

Page 5

 


HORIZON EXPRESS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

4.


Tangible fixed assets





Motor vehicles
Computer equipment
Total

£
£
£



Cost or valuation


At 1 September 2022
228,265
26,096
254,361


Additions
65,624
2,140
67,764


Disposals
(13,988)
(7,269)
(21,257)



At 31 August 2023

279,901
20,967
300,868



Depreciation


At 1 September 2022
166,573
26,096
192,669


Charge for the year on owned assets
28,798
59
28,857


Disposals
(13,335)
(7,269)
(20,604)



At 31 August 2023

182,036
18,886
200,922



Net book value



At 31 August 2023
97,865
2,081
99,946



At 31 August 2022
61,692
-
61,692


5.


Fixed asset investments





Other Investments

£



Cost or valuation


At 1 September 2022
50,000



At 31 August 2023
50,000




Page 6

 


HORIZON EXPRESS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

6.


Debtors

2023
2022
£
£


Trade debtors
192,590
192,277

Other debtors
277,248
190,597

Prepayments and accrued income
861
861

470,699
383,735



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
6,907
1,535

Corporation tax
(65,241)
239,687

Other taxation and social security
77,978
209,606

Obligations under finance lease and hire purchase contracts
10,124
2,155

Other creditors
5,631
7,372

Accruals and deferred income
21,595
6,750

56,994
467,105



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Net obligations under finance leases and hire purchase contracts
14,982
-

14,982
-



9.


Transactions with directors

At the balance sheet date, the company was owed £22,016 (2022: the company owed £4,398) from director J Rowe. The company was also owed £46,405 (2022: the company owed £2,738) from director D Wilkinson. Director Mrs Z Rowe owed the company £9,730 (2022: £nil) and director A C Rowe owed the company £11,945 (2022: £nil). 
These amounts are interest-free and repayable on demand.

 
Page 7