Registered number
07847662
Horizon Builders Limited
Filleted Accounts for the year ended
30 November 2023
Horizon Builders Limited
Registered number: 07847662
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 32,132 25,537
Current assets
Debtors 4 5,000 115,675
Cash at bank and in hand 100,449 78,775
105,449 194,450
Creditors: amounts falling due within one year 5 (92,750) (175,475)
Net current assets 12,699 18,975
Net assets 44,831 44,512
Capital and reserves
Called up share capital 100 100
Profit and loss account 44,731 44,412
Shareholder's funds 44,831 44,512
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
S O'Sullivan
Director
Approved by the board on 6 August 2024
Horizon Builders Limited
Notes to the Accounts
for the year ended 30 November 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 rendering of services which 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 20% Straight line
Motor vehicles 20% Straight line
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 2
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 December 2022 3,562 47,588 51,150
Additions - 23,076 23,076
Disposals - (3,978) (3,978)
At 30 November 2023 3,562 66,686 70,248
Depreciation
At 1 December 2022 1,592 24,021 25,613
Charge for the year 492 14,133 14,625
On disposals - (2,122) (2,122)
At 30 November 2023 2,084 36,032 38,116
Net book value
At 30 November 2023 1,478 30,654 32,132
At 30 November 2022 1,970 23,567 25,537
4 Debtors 2023 2022
£ £
Trade debtors - 113,567
Amounts owed by associated companies 5,000 2,000
Other debtors - 108
5,000 115,675
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 43,614 -
Taxation and social security costs 23,834 15,681
Directors loan 9,269 159,094
Deferred income 15,333 -
Other creditors 700 700
92,750 175,475
6 Related party transactions
As at 30 November 2023 the company was owed £2,000 (2022: £2,000) by Horizon Decorators Ltd a company in which the director, S O'Sullivan is a director and the ultimate controlling party.

No interest is charged on this loan, and there is no set repayment date.

As at 30 November 2023 the company was owed £3,000 (2022: £nil) by Horizon Landscaping Ltd a company in which the director, S O'Sullivan is a director and owns 50% of the shares.

No interest is charged on this loan, and there is no set repayment date.
7 Transactions with the director
As at 30 November 2023 the director loaned £9,269 (2022: £159,094) to the company on an interest free basis with no set repayment date. This is included in other creditors.

As at 30 November 2023 the director and 100% shareholder S O'Sullivan received dividends totaling £33,500 (2022: £0).
8 Controlling party
The ultimate controlling party is S O'Sullivan who holds 100% of the issued share capital of the company.
9 Other information
Horizon Builders Limited is a private company limited by shares and incorporated in England. Its registered office is:
1 Old Court Mews
311 Chase Road
London
N14 6JS
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