Acorah Software Products - Accounts Production 15.0.600 false true true 30 June 2023 1 July 2022 false 1 July 2023 30 June 2024 30 June 2024 10242318 Mr Vimal Shah Ms Nishma Shah iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10242318 2023-06-30 10242318 2024-06-30 10242318 2023-07-01 2024-06-30 10242318 frs-core:CurrentFinancialInstruments 2024-06-30 10242318 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-07-01 2024-06-30 10242318 frs-core:FurnitureFittings 2024-06-30 10242318 frs-core:FurnitureFittings 2023-07-01 2024-06-30 10242318 frs-core:FurnitureFittings 2023-06-30 10242318 frs-core:NetGoodwill 2024-06-30 10242318 frs-core:NetGoodwill 2023-07-01 2024-06-30 10242318 frs-core:NetGoodwill 2023-06-30 10242318 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-06-30 10242318 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-07-01 2024-06-30 10242318 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-06-30 10242318 frs-core:OtherResidualIntangibleAssets 2024-06-30 10242318 frs-core:OtherResidualIntangibleAssets 2023-07-01 2024-06-30 10242318 frs-core:OtherResidualIntangibleAssets 2023-06-30 10242318 frs-core:ShareCapital 2024-06-30 10242318 frs-core:RetainedEarningsAccumulatedLosses 2024-06-30 10242318 frs-bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 10242318 frs-bus:FilletedAccounts 2023-07-01 2024-06-30 10242318 frs-bus:SmallEntities 2023-07-01 2024-06-30 10242318 frs-bus:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 10242318 frs-bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 10242318 frs-bus:Director1 2023-07-01 2024-06-30 10242318 frs-bus:CompanySecretary1 2023-07-01 2024-06-30 10242318 frs-countries:EnglandWales 2023-07-01 2024-06-30 10242318 2022-06-30 10242318 2023-06-30 10242318 2022-07-01 2023-06-30 10242318 frs-core:CurrentFinancialInstruments 2023-06-30 10242318 frs-core:ShareCapital 2023-06-30 10242318 frs-core:RetainedEarningsAccumulatedLosses 2023-06-30
Registered number: 10242318
Horizon One Limited
Unaudited Financial Statements
For The Year Ended 30 June 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 10242318
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 1,450 2,175
Tangible Assets 5 2,728 3,636
4,178 5,811
CURRENT ASSETS
Stocks 6 15,525 16,450
Debtors 7 13,674 8,693
Cash at bank and in hand 17,876 40,966
47,075 66,109
Creditors: Amounts Falling Due Within One Year 8 (125,760 ) (147,102 )
NET CURRENT ASSETS (LIABILITIES) (78,685 ) (80,993 )
TOTAL ASSETS LESS CURRENT LIABILITIES (74,507 ) (75,182 )
NET LIABILITIES (74,507 ) (75,182 )
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account (74,607 ) (75,282 )
SHAREHOLDERS' FUNDS (74,507) (75,182)
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For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Vimal Shah
Director
10/01/2025
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Horizon One Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10242318 . The registered office is 98 Arlington Road, Southgate, London, N14 5AT.
The financial statements have been prepared in Sterling (£) which is also the functional currency of the company.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Impairment of assets
The financial assets are reviewed for impairment annually.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Significant judgements and estimations
In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period or in the period of the revision and future periods where the revision affects both current and future periods.
There are no significant judgements or estimates involved in the preparation of the financial statements. 
2.4. 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. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
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2.5. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 5 years.
2.6. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible asset is website development cost. It is amortised to profit and loss account over its estimated economic life of 5 years.
2.7. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold over the life of the lease
Fixtures & Fittings 25% RBM
2.8. Leasing and Hire Purchase Contracts
Operating lease commitments
At the reporting end date the company had outstanding commitments of £25,500 (2023: £25,500) for future minimum lease payments under non- cancellable leases.
2.9. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.10. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
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2.10. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Intangible Assets
Goodwill Other Total
£ £ £
Cost
As at 1 July 2023 81,393 3,625 85,018
As at 30 June 2024 81,393 3,625 85,018
Amortisation
As at 1 July 2023 81,393 1,450 82,843
Provided during the period - 725 725
As at 30 June 2024 81,393 2,175 83,568
Net Book Value
As at 30 June 2024 - 1,450 1,450
As at 1 July 2023 - 2,175 2,175
5. Tangible Assets
Land & Property
Leasehold Fixtures & Fittings Total
£ £ £
Cost
As at 1 July 2023 1 9,972 9,973
As at 30 June 2024 1 9,972 9,973
...CONTINUED
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Depreciation
As at 1 July 2023 - 6,337 6,337
Provided during the period - 908 908
As at 30 June 2024 - 7,245 7,245
Net Book Value
As at 30 June 2024 1 2,727 2,728
As at 1 July 2023 1 3,635 3,636
6. Stocks
2024 2023
£ £
Finished goods 15,525 16,450
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 4,985 -
Prepayments and accrued income 189 193
Other debtors 8,500 8,500
13,674 8,693
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 3,757 15,615
Corporation tax payable 542 3,184
VAT control account 775 2,817
Accruals and deferred income 2,500 2,500
Director's loan account 118,186 122,986
125,760 147,102
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
10. Related Party Transactions
The director provides a guarantee to the landlord on the company’s obligation to pay rents reserved by the lease and to observe and perform any obligations the company enters into in an authorised guarantee agreement made in respect of the lease.
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