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REGISTERED NUMBER: 00959710 (England and Wales)










Financial Statements

For The Year Ended 31 December 2023

for

Hotline-Horizont Ltd

Hotline-Horizont Ltd (Registered number: 00959710)






Contents of the Financial Statements
For The Year Ended 31 December 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Hotline-Horizont Ltd

Company Information
For The Year Ended 31 December 2023







DIRECTORS: C Whitbread
D Cowell
S Mueller



SECRETARY: G J Brooks



REGISTERED OFFICE: Unit 2
Roundhead Road
Heathfield Industrial Estate
Newton Abbot
TQ12 6UE



REGISTERED NUMBER: 00959710 (England and Wales)



AUDITORS: Kingscott Dix Limited
Chartered Accountants
and Statutory Auditor
Goodridge Court
Goodridge Avenue
Gloucester
Gloucestershire
GL2 5EN



BANKERS: Natwest Bank Plc
Exeter Branch
59 High Street
Exeter
EX4 3DL

Hotline-Horizont Ltd (Registered number: 00959710)

Statement of Financial Position
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 451,850 549,931
451,850 549,931

CURRENT ASSETS
Stocks 1,522,455 1,617,823
Debtors 6 965,773 1,014,261
Cash at bank 78,997 138,636
2,567,225 2,770,720
CREDITORS
Amounts falling due within one year 7 1,285,897 1,458,976
NET CURRENT ASSETS 1,281,328 1,311,744
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,733,178

1,861,675

CREDITORS
Amounts falling due after more than one
year

8

(548,245

)

(611,576

)

PROVISIONS FOR LIABILITIES (80,293 ) (80,023 )
NET ASSETS 1,104,640 1,170,076

CAPITAL AND RESERVES
Called up share capital 11 400,000 400,000
Capital reserves 400,000 400,000
Retained earnings 304,640 370,076
SHAREHOLDERS' FUNDS 1,104,640 1,170,076

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 April 2024 and were signed on its behalf by:





C Whitbread - Director


Hotline-Horizont Ltd (Registered number: 00959710)

Notes to the Financial Statements
For The Year Ended 31 December 2023

1. STATUTORY INFORMATION

Hotline-Horizont Ltd 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.

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 is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Goodwill
Goodwill was purchased on the acquisition of the trade of the Company's fellow subsidiary Horizont UK Limited. The Goodwill has been amortised over the estimated useful life of 3 years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 10% on cost and Straight line over 7 years
Motor vehicles - 33% on cost
Computer equipment - 33% on cost

Stocks and work in progress
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Hotline-Horizont Ltd (Registered number: 00959710)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Basic financial assets
Basic financial assets, which include trade and other 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

Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date. Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. The impairment loss is recognised in profit or loss.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership to another entity.

Basic financial liabilities
Basic financial liabilities, including trade and other creditors, bank loans, and loans from fellow group companies, 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 receipts discounted at a market rate of interest. 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. Accounts 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.

Derecognition of financial liabilities
Financial liabilities are derecognised when, and only when, the company's obligations are discharged, cancelled, or they expire.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

Hotline-Horizont Ltd (Registered number: 00959710)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 39 (2022 - 43 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 115,000
AMORTISATION
At 1 January 2023
and 31 December 2023 115,000
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

Hotline-Horizont Ltd (Registered number: 00959710)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2023

5. TANGIBLE FIXED ASSETS
Improvements
to Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 235,689 1,003,477 61,480 87,129 1,387,775
Additions - 4,989 - 9,160 14,149
At 31 December 2023 235,689 1,008,466 61,480 96,289 1,401,924
DEPRECIATION
At 1 January 2023 21,073 743,737 57,806 15,228 837,844
Charge for year 23,571 56,325 3,674 28,660 112,230
At 31 December 2023 44,644 800,062 61,480 43,888 950,074
NET BOOK VALUE
At 31 December 2023 191,045 208,404 - 52,401 451,850
At 31 December 2022 214,616 259,740 3,674 71,901 549,931

Included within the net book value of tangible fixed assets is £129,013 (2022: £150,197) in respect of assets held under hire purchase contracts. Depreciation for the year on these assets was £21,184 (2022: £21,184).

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 869,958 977,858
Invoice financing 46,234 -
Taxation recoverable - 400
Prepayments and accrued income 49,581 36,003
965,773 1,014,261

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 18,854 21,015
Invoice financing - 107,124
Hire purchase contracts (see note 9) 40,281 40,281
Trade creditors 145,598 239,565
Amounts owed to group undertakings 601,286 611,845
Corporation tax 39,065 14,060
Social security and other taxes 186,223 177,076
Directors' current accounts 40,000 40,000
Accruals and deferred income 214,590 208,010
1,285,897 1,458,976

Hotline-Horizont Ltd (Registered number: 00959710)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans - 1-2 years 10,000 19,287
Bank loans - 2-5 years 7,875 16,272
Hire purchase contracts (see note 9) 53,743 94,023
Amounts owed to group undertakings 450,000 450,000
Directors' loan accounts 26,627 31,994
548,245 611,576

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.12.23 31.12.22
£    £   
Net obligations repayable:
Within one year 40,281 40,281
Between one and five years 53,743 94,023
94,024 134,304

Non-cancellable operating leases
31.12.23 31.12.22
£    £   
Within one year 151,920 131,938
Between one and five years 256,673 351,474
408,593 483,412

10. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Bank loans 36,729 56,574
Invoice financing - 107,124
Hire purchase contracts 94,024 134,304
130,753 298,002

Hotline-Horizont Ltd (Registered number: 00959710)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2023

11. CALLED UP SHARE CAPITAL

Allotted, issues and fully paid:
Number: Class: Nominal 31.12.22 31.12.21
value: £    £   
360,000 Ordinary "A" £1 360,000 360,000
40,000 Ordinary "B" £1 40,000 40,000
400,000 400,000


12. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Peter Morgan (Senior Statutory Auditor)
for and on behalf of Kingscott Dix Limited

13. CONSOLIDATED GROUP ACCOUNTS

The company's ultimate parent company produces consolidated financial statements.

Information regarding the consolidated accounts of Horizont Group GmbH can be obtained from its registered office based in Korbach, Germany.