IRIS Accounts Production v24.3.0.553 03431532 Board of Directors 1.3.23 29.2.24 29.2.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh034315322023-02-28034315322024-02-29034315322023-03-012024-02-29034315322022-02-28034315322022-03-012023-02-28034315322023-02-2803431532ns15:EnglandWales2023-03-012024-02-2903431532ns14:PoundSterling2023-03-012024-02-2903431532ns10:Director12023-03-012024-02-2903431532ns10:PrivateLimitedCompanyLtd2023-03-012024-02-2903431532ns10:SmallEntities2023-03-012024-02-2903431532ns10:AuditExempt-NoAccountantsReport2023-03-012024-02-2903431532ns10:SmallCompaniesRegimeForDirectorsReport2023-03-012024-02-2903431532ns10:SmallCompaniesRegimeForAccounts2023-03-012024-02-2903431532ns10:FullAccounts2023-03-012024-02-2903431532ns10:Director22023-03-012024-02-2903431532ns10:CompanySecretary12023-03-012024-02-2903431532ns10:RegisteredOffice2023-03-012024-02-2903431532ns5:CurrentFinancialInstruments2024-02-2903431532ns5:CurrentFinancialInstruments2023-02-2803431532ns5:Non-currentFinancialInstruments2024-02-2903431532ns5:Non-currentFinancialInstruments2023-02-2803431532ns5:ShareCapital2024-02-2903431532ns5:ShareCapital2023-02-2803431532ns5:CapitalRedemptionReserve2024-02-2903431532ns5:CapitalRedemptionReserve2023-02-2803431532ns5:RetainedEarningsAccumulatedLosses2024-02-2903431532ns5:RetainedEarningsAccumulatedLosses2023-02-2803431532ns5:LeaseholdImprovements2023-03-012024-02-2903431532ns5:PlantMachinery2023-03-012024-02-2903431532ns5:FurnitureFittings2023-03-012024-02-2903431532ns5:MotorVehicles2023-03-012024-02-2903431532ns5:ComputerEquipment2023-03-012024-02-2903431532ns5:LeaseholdImprovements2023-02-2803431532ns5:PlantMachinery2023-02-2803431532ns5:FurnitureFittings2023-02-2803431532ns5:LeaseholdImprovements2024-02-2903431532ns5:PlantMachinery2024-02-2903431532ns5:FurnitureFittings2024-02-2903431532ns5:MotorVehicles2023-02-2803431532ns5:ComputerEquipment2023-02-2803431532ns5:MotorVehicles2024-02-2903431532ns5:ComputerEquipment2024-02-2903431532ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-02-2803431532ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-03-012024-02-2903431532ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2024-02-2903431532ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-02-2803431532ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-02-2903431532ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-02-2803431532ns5:Secured2024-02-2903431532ns5:Secured2023-02-28
REGISTERED NUMBER: 03431532 (England and Wales)














Unaudited Financial Statements

for the Year Ended 29 February 2024

for

New Horizons (Stockport) Ltd

New Horizons (Stockport) Ltd (Registered number: 03431532)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


New Horizons (Stockport) Ltd

Company Information
for the Year Ended 29 February 2024







DIRECTORS: Ms B K Parikh
Mr B Parikh





SECRETARY: Mr B Parikh





REGISTERED OFFICE: 154-156 Buxton Road
High Lane
Stockport
Cheshire
SK6 8EA





REGISTERED NUMBER: 03431532 (England and Wales)





ACCOUNTANTS: Freedman Frankl & Taylor
Chartered Accountants
Reedham House
31 King Street West
Manchester
M3 2PJ

New Horizons (Stockport) Ltd (Registered number: 03431532)

Balance Sheet
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 225,547 267,690

CURRENT ASSETS
Debtors 5 3,845,781 4,029,648
Cash at bank and in hand 211,615 278,127
4,057,396 4,307,775
CREDITORS
Amounts falling due within one year 6 1,035,734 910,327
NET CURRENT ASSETS 3,021,662 3,397,448
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,247,209

3,665,138

CREDITORS
Amounts falling due after more than one year 7 (1,346,787 ) (1,789,649 )

PROVISIONS FOR LIABILITIES (23,884 ) (23,884 )
NET ASSETS 1,876,538 1,851,605

CAPITAL AND RESERVES
Called up share capital 33 33
Capital redemption reserve 66 66
Retained earnings 1,876,439 1,851,506
SHAREHOLDERS' FUNDS 1,876,538 1,851,605

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

New Horizons (Stockport) Ltd (Registered number: 03431532)

Balance Sheet - continued
29 February 2024


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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 November 2024 and were signed on its behalf by:





Mr B Parikh - Director


New Horizons (Stockport) Ltd (Registered number: 03431532)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

New Horizons (Stockport) 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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Rental income from operating leases is recognised on a receivable basis.

Interest income is recognised on a received basis.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 15% on reducing balance
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 15% on reducing balance

Tangible fixed assets are recorded at cost less accumulated depreciation and accumulated impairment losses.

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 balance sheet date.


New Horizons (Stockport) Ltd (Registered number: 03431532)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

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.

Going concern
The company's financial statements for the year ended 29 February 2024 have been prepared on a going concern basis as, after making appropriate enquiries, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 87 (2023 - 87 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 March 2023 27,818 9,854 355,162
Additions - - 20,955
Disposals (27,818 ) - -
At 29 February 2024 - 9,854 376,117
DEPRECIATION
At 1 March 2023 - 7,169 284,626
Charge for year - 403 13,724
Eliminated on disposal - - -
At 29 February 2024 - 7,572 298,350
NET BOOK VALUE
At 29 February 2024 - 2,282 77,767
At 28 February 2023 27,818 2,685 70,536

New Horizons (Stockport) Ltd (Registered number: 03431532)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 March 2023 256,621 92,071 741,526
Additions 10,800 9,461 41,216
Disposals (1,675 ) - (29,493 )
At 29 February 2024 265,746 101,532 753,249
DEPRECIATION
At 1 March 2023 133,050 48,992 473,837
Charge for year 33,067 7,881 55,075
Eliminated on disposal (1,210 ) - (1,210 )
At 29 February 2024 164,907 56,873 527,702
NET BOOK VALUE
At 29 February 2024 100,839 44,659 225,547
At 28 February 2023 123,571 43,079 267,689

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 March 2023
and 29 February 2024 150,882
DEPRECIATION
At 1 March 2023 66,011
Charge for year 21,218
At 29 February 2024 87,229
NET BOOK VALUE
At 29 February 2024 63,653
At 28 February 2023 84,871

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 257,276 339,122
Amounts owed by group undertakings 3,521,997 3,662,426
Other debtors 66,508 28,100
3,845,781 4,029,648

New Horizons (Stockport) Ltd (Registered number: 03431532)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 296,301 296,301
Hire purchase contracts 75,270 19,327
Trade creditors 210,438 221,452
Taxation and social security 177,339 141,242
Other creditors 276,386 232,005
1,035,734 910,327

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 1,346,787 1,720,756
Hire purchase contracts - 68,893
1,346,787 1,789,649

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 1,643,088 2,017,057
Hire purchase contracts 75,270 88,220
1,718,358 2,105,277

The bank loans and overdrafts of the company have been secured by way of a cross guarantee over the assets of all group companies.

9. ULTIMATE CONTROLLING PARTY

The company's parent undertaking at the balance sheet date was New Horizons Group Limited, a company incorporated and registered in England. Copies of the financial statements of New Horizons Group Limited can be obtained from 154-156 Buxton Road, High Lane, Stockport, Cheshire SK6 8EA.