Acorah Software Products - Accounts Production 15.0.500 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 SC419378 Mr Paul Muir iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC419378 2023-03-31 SC419378 2024-03-31 SC419378 2023-04-01 2024-03-31 SC419378 frs-core:CurrentFinancialInstruments 2024-03-31 SC419378 frs-core:Non-currentFinancialInstruments 2024-03-31 SC419378 frs-core:ComputerEquipment 2024-03-31 SC419378 frs-core:ComputerEquipment 2023-04-01 2024-03-31 SC419378 frs-core:ComputerEquipment 2023-03-31 SC419378 frs-core:FurnitureFittings 2024-03-31 SC419378 frs-core:FurnitureFittings 2023-04-01 2024-03-31 SC419378 frs-core:FurnitureFittings 2023-03-31 SC419378 frs-core:NetGoodwill 2024-03-31 SC419378 frs-core:NetGoodwill 2023-04-01 2024-03-31 SC419378 frs-core:NetGoodwill 2023-03-31 SC419378 frs-core:MotorVehicles 2024-03-31 SC419378 frs-core:MotorVehicles 2023-04-01 2024-03-31 SC419378 frs-core:MotorVehicles 2023-03-31 SC419378 frs-core:PlantMachinery 2024-03-31 SC419378 frs-core:PlantMachinery 2023-04-01 2024-03-31 SC419378 frs-core:PlantMachinery 2023-03-31 SC419378 frs-core:ShareCapital 2024-03-31 SC419378 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 SC419378 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 SC419378 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 SC419378 frs-bus:SmallEntities 2023-04-01 2024-03-31 SC419378 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 SC419378 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 SC419378 frs-bus:Director1 2023-04-01 2024-03-31 SC419378 frs-bus:Director1 2023-03-31 SC419378 frs-bus:Director1 2024-03-31 SC419378 frs-countries:Scotland 2023-04-01 2024-03-31 SC419378 2022-03-31 SC419378 2023-03-31 SC419378 2022-04-01 2023-03-31 SC419378 frs-core:CurrentFinancialInstruments 2023-03-31 SC419378 frs-core:Non-currentFinancialInstruments 2023-03-31 SC419378 frs-core:ShareCapital 2023-03-31 SC419378 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: SC419378
Horizon Security Solutions Ltd
Financial Statements
For The Year Ended 31 March 2024
Murray Accountancy & Tax Services Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: SC419378
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 58,252 75,219
58,252 75,219
CURRENT ASSETS
Debtors 6 329,243 303,088
Cash at bank and in hand 1,651 1,769
330,894 304,857
Creditors: Amounts Falling Due Within One Year 7 (183,125 ) (213,344 )
NET CURRENT ASSETS (LIABILITIES) 147,769 91,513
TOTAL ASSETS LESS CURRENT LIABILITIES 206,021 166,732
Creditors: Amounts Falling Due After More Than One Year 8 (22,769 ) (25,742 )
NET ASSETS 183,252 140,990
CAPITAL AND RESERVES
Called up share capital 9 2 2
Profit and Loss Account 183,250 140,988
SHAREHOLDERS' FUNDS 183,252 140,990
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Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Paul Muir
Director
07/08/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Horizon Security Solutions Ltd is a private company, limited by shares, incorporated in Scotland, registered number SC419378 . The registered office is 100 Balloch Road, Balloch, Alexandria, G83 8SR.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% WDV
Motor Vehicles 25% WDV
Fixtures & Fittings 25% WDV
Computer Equipment 25% WDV
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2023 50,000
As at 31 March 2024 50,000
Amortisation
As at 1 April 2023 50,000
As at 31 March 2024 50,000
Net Book Value
As at 31 March 2024 -
As at 1 April 2023 -
5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 April 2023 69,972 73,689 36,815 29,899 210,375
Additions - - 403 2,048 2,451
As at 31 March 2024 69,972 73,689 37,218 31,947 212,826
Depreciation
As at 1 April 2023 46,113 58,501 16,714 13,828 135,156
Provided during the period 5,965 3,797 5,126 4,530 19,418
As at 31 March 2024 52,078 62,298 21,840 18,358 154,574
Net Book Value
As at 31 March 2024 17,894 11,391 15,378 13,589 58,252
As at 1 April 2023 23,859 15,188 20,101 16,071 75,219
6. Debtors
2024 2023
£ £
Due within one year
Other debtors 232,286 204,335
Director's loan account 96,957 98,753
329,243 303,088
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 14,279 26,127
Bank loans and overdrafts 6,535 6,535
Corporation tax 92,841 76,589
Other taxes and social security 5,520 404
VAT 18,882 58,169
Other creditors 45,068 -
Accruals and deferred income - 45,520
183,125 213,344
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 22,769 25,742
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
10. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 April 2023 Amounts advanced Amounts repaid Amounts written off As at 31 March 2024
£ £ £ £ £
Mr Paul Muir 98,753 53,704 55,500 - 96,957
The above loan is unsecured, interest free and repayable on demand.
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