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Registration number: 13876374

Horner Tech Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2024

 

Horner Tech Ltd

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 5

 

Horner Tech Ltd

(Registration number: 13876374)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

9,118

117,779

Tangible assets

5

2,847

4,039

 

11,965

121,818

Current assets

 

Debtors

6

3,402

12,184

Cash at bank and in hand

 

2,094

78,665

 

5,496

90,849

Creditors: Amounts falling due within one year

7

(4,680)

(73,871)

Net current assets

 

816

16,978

Net assets

 

12,781

138,796

Capital and reserves

 

Called up share capital

2

2

Retained earnings

12,779

138,794

Shareholders' funds

 

12,781

138,796

For the financial year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 3 October 2024 and signed on its behalf by:
 

.........................................
Mr A D Horner
Director

 

Horner Tech Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
1 Somer Ridge
Radstock
BA3 2FB

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax payable.

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 taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

Horner Tech Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Asset class

Depreciation method and rate

Office equipment

25% Straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Horner Tech Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

4

Intangible assets

Other intangible assets
 £

Total
£

Cost or valuation

At 1 February 2023

117,779

117,779

Additions acquired separately

46,002

46,002

Disposals

(155,668)

(155,668)

At 31 January 2024

8,113

8,113

Amortisation

Impairment

(1,005)

(1,005)

At 31 January 2024

(1,005)

(1,005)

Carrying amount

At 31 January 2024

9,118

9,118

At 31 January 2023

117,779

117,779

5

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 February 2023

4,766

4,766

At 31 January 2024

4,766

4,766

Depreciation

At 1 February 2023

727

727

Charge for the year

1,192

1,192

At 31 January 2024

1,919

1,919

Carrying amount

At 31 January 2024

2,847

2,847

At 31 January 2023

4,039

4,039

 

Horner Tech Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

6

Debtors

Current

2024
£

2023
£

Other debtors

3,402

12,184

 

3,402

12,184

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

-

68,062

Other creditors

4,680

5,809

4,680

73,871

8

Related party transactions

Transactions with directors

2024

At 1 February 2023
£

Advances to director
£

Repayments by director
£

At 31 January 2024
£

Mr M P Horner

6,092

10,619

(15,010)

1,701

Mr M P Horner

6,092

10,619

(15,010)

1,701

2023

At 27 January 2022
£

Advances to director
£

At 31 January 2023
£

Mr M P Horner

-

6,092

6,092

Mr M P Horner

-

6,092

6,092