Registered number
04953813
Horizon Satellite, Aerial & Home Entertainment Limited
Filleted Accounts
31 March 2024
Horizon Satellite, Aerial & Home Entertainment Limited
Registered number: 04953813
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 - 5,000
Tangible assets 4 16,429 3,449
16,429 8,449
Current assets
Stocks 6,500 6,500
Debtors 5 - 15,047
Cash at bank and in hand 21,099 625
27,599 22,172
Creditors: amounts falling due within one year 6 (34,353) (28,757)
Net current liabilities (6,754) (6,585)
Net assets 9,675 1,864
Capital and reserves
Called up share capital 2 2
Profit and loss account 9,673 1,862
Shareholders' funds 9,675 1,864
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
Mrs S Spacagna
Director
Approved by the board on 12 October 2024
Horizon Satellite, Aerial & Home Entertainment Limited
Notes to the Accounts
for the year ended 31 March 2024
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 sale of goods and from the rendering of services.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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 at rates calculated to write off the cost as follows:
Motor Vehicles 25% reducing balance
Fixtures, fittings, tools and equipment 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 5 5
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2023 100,000
At 31 March 2024 100,000
Amortisation
At 1 April 2023 95,000
Provided during the year 5,000
At 31 March 2024 100,000
Net book value
At 31 March 2024 -
At 31 March 2023 5,000
Goodwill is being written off in equal annual instalments over its estimated economic life of 20 years.
4 Tangible fixed assets
Equipment Motor vehicles Total
£ £ £
Cost
At 1 April 2023 27,159 43,652 70,811
Additions - 18,745 18,745
Disposals - (12,175) (12,175)
At 31 March 2024 27,159 50,222 77,381
Depreciation
At 1 April 2023 27,159 40,203 67,362
Charge for the year - 5,476 5,476
On disposals - (11,886) (11,886)
At 31 March 2024 27,159 33,793 60,952
Net book value
At 31 March 2024 - 16,429 16,429
At 31 March 2023 - 3,449 3,449
5 Debtors 2024 2023
£ £
Other debtors 21,099 15,047
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 17,504 10,072
Corporation tax 5,859 8,000
Taxation and social security costs 9,368 10,085
Other creditors 1,622 600
34,353 28,757
7 Controlling party
The company is controlled by the directors as 100% shareholders
8 Other information
Horizon Satellite, Aerial & Home Entertainment Limited is a private company limited by shares and incorporated in England. Its registered office is:
Essex Road Business Centre
Essex Road
Basingstoke
RG21 7TB
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