IRIS Accounts Production v24.3.0.553 03346997 director 1.12.22 30.11.23 30.11.23 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh033469972022-11-30033469972023-11-30033469972022-12-012023-11-30033469972021-11-30033469972021-12-012022-11-30033469972022-11-3003346997ns15:EnglandWales2022-12-012023-11-3003346997ns14:PoundSterling2022-12-012023-11-3003346997ns10:Director12022-12-012023-11-3003346997ns10:PrivateLimitedCompanyLtd2022-12-012023-11-3003346997ns10:SmallEntities2022-12-012023-11-3003346997ns10:AuditExempt-NoAccountantsReport2022-12-012023-11-3003346997ns10:SmallCompaniesRegimeForDirectorsReport2022-12-012023-11-3003346997ns10:SmallCompaniesRegimeForAccounts2022-12-012023-11-3003346997ns10:FullAccounts2022-12-012023-11-3003346997ns10:OrdinaryShareClass12022-12-012023-11-3003346997ns10:CompanySecretary12022-12-012023-11-3003346997ns10:RegisteredOffice2022-12-012023-11-3003346997ns5:CurrentFinancialInstruments2023-11-3003346997ns5:CurrentFinancialInstruments2022-11-3003346997ns5:Non-currentFinancialInstruments2023-11-3003346997ns5:Non-currentFinancialInstruments2022-11-3003346997ns5:ShareCapital2023-11-3003346997ns5:ShareCapital2022-11-3003346997ns5:RetainedEarningsAccumulatedLosses2023-11-3003346997ns5:RetainedEarningsAccumulatedLosses2022-11-3003346997ns5:LandBuildingsns5:ShortLeaseholdAssets2022-12-012023-11-3003346997ns5:LeaseholdImprovements2022-12-012023-11-3003346997ns5:PlantMachinery2022-12-012023-11-3003346997ns5:FurnitureFittings2022-12-012023-11-3003346997ns5:MotorVehicles2022-12-012023-11-3003346997ns5:ComputerEquipment2022-12-012023-11-3003346997ns5:LandBuildingsns5:ShortLeaseholdAssets2022-11-3003346997ns5:LeaseholdImprovements2022-11-3003346997ns5:PlantMachinery2022-11-3003346997ns5:LandBuildingsns5:ShortLeaseholdAssets2023-11-3003346997ns5:LeaseholdImprovements2023-11-3003346997ns5:PlantMachinery2023-11-3003346997ns5:LandBuildingsns5:ShortLeaseholdAssets2022-11-3003346997ns5:LeaseholdImprovements2022-11-3003346997ns5:PlantMachinery2022-11-3003346997ns5:FurnitureFittings2022-11-3003346997ns5:MotorVehicles2022-11-3003346997ns5:ComputerEquipment2022-11-3003346997ns5:FurnitureFittings2023-11-3003346997ns5:MotorVehicles2023-11-3003346997ns5:ComputerEquipment2023-11-3003346997ns5:FurnitureFittings2022-11-3003346997ns5:MotorVehicles2022-11-3003346997ns5:ComputerEquipment2022-11-3003346997ns5:LeaseholdImprovementsns5:LeasedAssetsHeldAsLessee2022-12-012023-11-3003346997ns5:LeaseholdImprovementsns5:LeasedAssetsHeldAsLessee2023-11-3003346997ns5:UnlistedNon-exchangeTradedns5:CostValuation2022-11-3003346997ns5:AdditionsToInvestmentsns5:UnlistedNon-exchangeTraded2023-11-3003346997ns5:UnlistedNon-exchangeTradedns5:DisposalsRepaymentsInvestments2023-11-3003346997ns5:UnlistedNon-exchangeTradedns5:CostValuation2023-11-3003346997ns5:UnlistedNon-exchangeTraded2023-11-3003346997ns5:UnlistedNon-exchangeTraded2022-11-3003346997ns5:WithinOneYearns5:CurrentFinancialInstruments2023-11-3003346997ns5:WithinOneYearns5:CurrentFinancialInstruments2022-11-3003346997ns5:DeferredTaxation2022-11-3003346997ns5:DeferredTaxation2022-12-012023-11-3003346997ns5:DeferredTaxation2023-11-3003346997ns10:OrdinaryShareClass12023-11-30
REGISTERED NUMBER: 03346997 (England and Wales)















Financial Statements for the Year Ended 30 November 2023

for

T.H. Horn Ltd

T.H. Horn Ltd (Registered number: 03346997)

Contents of the Financial Statements
for the Year Ended 30 November 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


T.H. Horn Ltd

Company Information
for the Year Ended 30 November 2023







DIRECTOR: B H Horn



SECRETARY: Casered Ltd



REGISTERED OFFICE: Copthorne Farm, Woods Lane
Eagland Hill
Preston
Lancashire
PR3 6BB



REGISTERED NUMBER: 03346997 (England and Wales)



ACCOUNTANTS: Bennett Kirkhope Smith
Chartered Certified Accountants
Suites 5 & 6 The Printworks
Hey Road
Barrow
Clitheroe
Lancashire
BB7 9WB



SOLICITORS: Napthens Solicitors
7 Winckley Square
Preston
Lancashire
PR1 3JD

T.H. Horn Ltd (Registered number: 03346997)

Balance Sheet
30 November 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 418,797 284,793
Investments 5 977,067 965,763
1,395,864 1,250,556

CURRENT ASSETS
Stocks 2,046,900 1,686,512
Debtors 6 245,720 305,247
Cash at bank and in hand 548,755 658,202
2,841,375 2,649,961
CREDITORS
Amounts falling due within one year 7 868,978 959,646
NET CURRENT ASSETS 1,972,397 1,690,315
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,368,261

2,940,871

CREDITORS
Amounts falling due after more than one
year

8

(178,613

)

-

PROVISIONS FOR LIABILITIES 10 (86,157 ) (35,613 )
NET ASSETS 3,103,491 2,905,258

CAPITAL AND RESERVES
Called up share capital 11 150,000 150,000
Retained earnings 2,953,491 2,755,258
SHAREHOLDERS' FUNDS 3,103,491 2,905,258

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 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.

T.H. Horn Ltd (Registered number: 03346997)

Balance Sheet - continued
30 November 2023


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 director and authorised for issue on 30 November 2024 and were signed by:





B H Horn - Director


T.H. Horn Ltd (Registered number: 03346997)

Notes to the Financial Statements
for the Year Ended 30 November 2023


1. STATUTORY INFORMATION

T.H. Horn 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 measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.
Leasehold improvements - 10% on cost
Hire fleet - 15% on reducing balance
Machinery and equipment - 15% on reducing balance
Furniture, fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Office equipment - 33% on reducing balance

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

Financial instruments
Under FRS 102 1A derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss. Due to the nature of the investments held they are deemed to be exempt and hence are included at cost.

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.

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.

T.H. Horn Ltd (Registered number: 03346997)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 14 (2022 - 11 ) .

4. TANGIBLE FIXED ASSETS
Machinery
Leasehold Hire and
improvements fleet equipment
£    £    £   
COST
At 1 December 2022 76,341 248,586 44,768
Additions - 246,832 -
Disposals - (151,407 ) (1,127 )
At 30 November 2023 76,341 344,011 43,641
DEPRECIATION
At 1 December 2022 9,162 96,699 28,894
Charge for year 3,054 32,495 2,381
Eliminated on disposal - (61,600 ) (594 )
At 30 November 2023 12,216 67,594 30,681
NET BOOK VALUE
At 30 November 2023 64,125 276,417 12,960
At 30 November 2022 67,179 151,887 15,874

T.H. Horn Ltd (Registered number: 03346997)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023


4. TANGIBLE FIXED ASSETS - continued

Furniture,
fixtures
and Motor Office
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 December 2022 10,718 113,887 20,905 515,205
Additions 657 26,850 2,499 276,838
Disposals (1,670 ) - (4,501 ) (158,705 )
At 30 November 2023 9,705 140,737 18,903 633,338
DEPRECIATION
At 1 December 2022 3,900 80,313 11,444 230,412
Charge for year 1,099 9,513 3,531 52,073
Eliminated on disposal (1,347 ) - (4,403 ) (67,944 )
At 30 November 2023 3,652 89,826 10,572 214,541
NET BOOK VALUE
At 30 November 2023 6,053 50,911 8,331 418,797
At 30 November 2022 6,818 33,574 9,461 284,793

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Hire
fleet
£   
COST
Additions 177,041
At 30 November 2023 177,041
DEPRECIATION
Charge for year 13,174
At 30 November 2023 13,174
NET BOOK VALUE
At 30 November 2023 163,867

T.H. Horn Ltd (Registered number: 03346997)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023


5. FIXED ASSET INVESTMENTS
Unlisted
investments
£   
COST
At 1 December 2022 965,763
Additions 84,886
Disposals (79,625 )
Dividends received 6,043
At 30 November 2023 977,067
NET BOOK VALUE
At 30 November 2023 977,067
At 30 November 2022 965,763

Market value of the investments at 30 November 2023 - £1,201,412 (2022 - £1,171,016).

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade debtors 234,026 280,824
VAT - 11,090
Prepayments and accrued income 11,694 13,333
245,720 305,247

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Hire purchase contracts 71,655 -
Trade creditors 559,525 716,010
Corporation tax 22,714 58,016
PAYE and NIC 8,463 8,072
VAT 23,123 -
Other creditors 5,853 5,219
Directors' current account 164,491 151,354
Accruals 13,154 20,975
868,978 959,646

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.11.23 30.11.22
£    £   
Hire purchase contracts 59,613 -
Directors' loan accounts 119,000 -
178,613 -

T.H. Horn Ltd (Registered number: 03346997)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023


9. SECURED DEBTS

The following secured debts are included within creditors:

30.11.23 30.11.22
£    £   
Hire purchase contracts 131,268 -

The hire purchase obligations are secured on the assets to which they relate.

10. PROVISIONS FOR LIABILITIES
30.11.23 30.11.22
£    £   
Deferred tax 86,157 35,613

Deferred
tax
£   
Balance at 1 December 2022 35,613
Charge to Income Statement during year 50,544
Balance at 30 November 2023 86,157

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.11.23 30.11.22
value: £    £   
150,000 Ordinary £1 150,000 150,000

12. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

During the year the company occupied premises privately owned by B H Horn, the company's director. Rent of £38,000 (2022: £38,000) was payable during the year. There was no outstanding balance at the year end in respect of this or the previous year.