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REGISTERED NUMBER: 11609344 (England and Wales)














Unaudited Financial Statements

for the Year Ended 29 February 2024

for

New Horizons Group Limited

New Horizons Group Limited (Registered number: 11609344)






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 Group Limited

Company Information
for the Year Ended 29 February 2024







DIRECTOR: B Parikh





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





REGISTERED NUMBER: 11609344 (England and Wales)





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

New Horizons Group Limited (Registered number: 11609344)

Balance Sheet
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,202,374 3,872,980
Investments 5 3,778,429 3,778,329
7,980,803 7,651,309

CURRENT ASSETS
Cash at bank 20,068 6,450

CREDITORS
Amounts falling due within one year 6 1,596,043 1,576,524
NET CURRENT LIABILITIES (1,575,975 ) (1,570,074 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,404,828

6,081,235

CREDITORS
Amounts falling due after more than one year 7 4,402,426 4,357,714
NET ASSETS 2,002,402 1,723,521

CAPITAL AND RESERVES
Called up share capital 8 10 10
Retained earnings 2,002,392 1,723,511
SHAREHOLDERS' FUNDS 2,002,402 1,723,521

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 director acknowledges his 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 Group Limited (Registered number: 11609344)

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 Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 26 November 2024 and were signed by:





B Parikh - Director


New Horizons Group Limited (Registered number: 11609344)

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

1. STATUTORY INFORMATION

New Horizons Group Limited 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.

Preparation of consolidated financial statements
The financial statements contain information about New Horizons Group Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Motor vehicles - 25% 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 Statement of Income and Retained Earnings, 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.

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.

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

Fixed asset investments
Fixed asset investments other than loan are recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

New Horizons Group Limited (Registered number: 11609344)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Freehold Motor
property vehicles Totals
£    £    £   
COST
At 1 March 2023 3,944,964 40,119 3,985,083
Additions 425,972 - 425,972
At 29 February 2024 4,370,936 40,119 4,411,055
DEPRECIATION
At 1 March 2023 105,417 6,686 112,103
Charge for year 88,219 8,359 96,578
At 29 February 2024 193,636 15,045 208,681
NET BOOK VALUE
At 29 February 2024 4,177,300 25,074 4,202,374
At 28 February 2023 3,839,547 33,433 3,872,980

The director consider that the market value of the freehold properties at 29 February 2024 are not materially different from the amounts stated in the accounts.

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 March 2023 3,778,329
Additions 100
At 29 February 2024 3,778,429
NET BOOK VALUE
At 29 February 2024 3,778,429
At 28 February 2023 3,778,329

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed to group undertakings 459,999 560,001
Taxation and social security 207,879 94,483
Other creditors 928,165 922,040
1,596,043 1,576,524

New Horizons Group Limited (Registered number: 11609344)

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

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Amounts owed to group undertakings 3,062,097 3,187,427
Other creditors 1,340,329 1,170,287
4,402,426 4,357,714

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
10 Ordinary £1 10 10

9. CONTINGENT LIABILITIES

The company has guaranteed the bank overdrafts and loans of other group companies which at 29 February 2024 amounted to £1,039,147 (2023: £1,192,398).

10. RELATED PARTY DISCLOSURES

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.

Included within other creditors is an amount due to a family member of the director amounting to £2,260,329 (2023: £2,090,287)