Caseware UK (AP4) 2023.0.135 2023.0.135 2024-06-302024-06-302024-06-30falsetrue2023-01-01No description of principal activity4trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 01099581 2023-01-01 2024-06-30 01099581 2022-01-01 2022-12-31 01099581 2024-06-30 01099581 2022-12-31 01099581 c:Director1 2023-01-01 2024-06-30 01099581 c:Director2 2023-01-01 2024-06-30 01099581 d:ComputerEquipment 2023-01-01 2024-06-30 01099581 d:ComputerEquipment 2024-06-30 01099581 d:ComputerEquipment 2022-12-31 01099581 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-01-01 2024-06-30 01099581 d:CurrentFinancialInstruments 2024-06-30 01099581 d:CurrentFinancialInstruments 2022-12-31 01099581 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 01099581 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 01099581 d:ShareCapital 2024-06-30 01099581 d:ShareCapital 2022-12-31 01099581 d:RetainedEarningsAccumulatedLosses 2024-06-30 01099581 d:RetainedEarningsAccumulatedLosses 2022-12-31 01099581 d:RetainedEarningsAccumulatedLosses 2022-01-01 01099581 c:FRS102 2023-01-01 2024-06-30 01099581 c:AuditExemptWithAccountantsReport 2023-01-01 2024-06-30 01099581 c:FullAccounts 2023-01-01 2024-06-30 01099581 c:PrivateLimitedCompanyLtd 2023-01-01 2024-06-30 01099581 c:Consolidated 2024-06-30 01099581 c:ConsolidatedGroupCompanyAccounts 2023-01-01 2024-06-30 01099581 6 2023-01-01 2024-06-30 01099581 e:PoundSterling 2023-01-01 2024-06-30 iso4217:GBP xbrli:pure

Registered number: 01099581









HORN & HORNE LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 30 JUNE 2024

 
HORN & HORNE LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF HORN & HORNE LIMITED
FOR THE PERIOD ENDED 30 JUNE 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Horn & Horne Limited for the period ended 30 June 2024 which comprise the Consolidated Balance Sheet, the Company Balance Sheet and the related notes from the Group's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of Directors of Horn & Horne Limited, as a body, in accordance with the terms of our engagement letter dated 29 November 2018Our work has been undertaken solely to prepare for your approval the financial statements of Horn & Horne Limited  and state those matters that we have agreed to state to the Board of Directors of Horn & Horne Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Horn & Horne Limited and its Board of Directors, as a body, for our work or for this report. 

It is your duty to ensure that Horn & Horne Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Horn & Horne Limited. You consider that Horn & Horne Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or review of the financial statements of Horn & Horne Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Harris & Trotter LLP
 
Chartered Accountants
  
101 New Cavendish Street
1st Floor South
London
United Kingdom
W1W 6XH
7 March 2025
Page 1

 
HORN & HORNE LIMITED
REGISTERED NUMBER: 01099581

CONSOLIDATED BALANCE SHEET
AS AT 30 JUNE 2024

30 June
31 December
2024
2022
Note
£
£

Fixed assets
  

Tangible assets
 9 
544
866

  
544
866

Current assets
  

Stocks
 10 
-
2,524,676

Debtors: amounts falling due within one year
 11 
375,358
3,325,030

Cash at bank and in hand
 12 
1,336,564
1,046,434

  
1,711,922
6,896,140

Creditors: amounts falling due within one year
 13 
(425,395)
(5,576,522)

Net current assets
  
 
 
1,286,527
 
 
1,319,618

Total assets less current liabilities
  
1,287,071
1,320,484

Provisions for liabilities
  

Net assets excluding pension asset
  
1,287,071
1,320,484

Net assets
  
1,287,071
1,320,484


Capital and reserves
  

Called up share capital 
  
250
250

Profit and loss account
  
1,286,821
1,320,234

Equity attributable to owners of the parent Company
  
1,287,071
1,320,484

  
1,287,071
1,320,484


Page 2

 
HORN & HORNE LIMITED
REGISTERED NUMBER: 01099581
    
CONSOLIDATED BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the consolidated statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




J Horn
S C Horne
Director
Director


Date: 7 March 2025

The notes on pages 6 to 15 form part of these financial statements.

Page 3

 
HORN & HORNE LIMITED
REGISTERED NUMBER: 01099581

COMPANY BALANCE SHEET
AS AT 30 JUNE 2024

30 June
31 December
2024
2022
Note
£
£

Fixed assets
  

Tangible assets
 9 
544
866

  
544
866

Current assets
  

Debtors: amounts falling due within one year
 11 
178,751
25,968

Cash at bank and in hand
 12 
1,208,329
975,274

  
1,387,080
1,001,242

Creditors: amounts falling due within one year
 13 
(184,332)
85,284

Net current assets
  
 
 
1,202,748
 
 
1,086,526

Total assets less current liabilities
  
1,203,292
1,087,392

  

  

Net assets excluding pension asset
  
1,203,292
1,087,392

Net assets
  
1,203,292
1,087,392


Capital and reserves
  

Called up share capital 
  
250
250

Profit and loss account brought forward
  
1,087,142
1,400,166

Profit/(loss) for the period
  
115,900
(313,024)

Profit and loss account carried forward
  
1,203,042
1,087,142

  
1,203,292
1,087,392


Page 4

 
HORN & HORNE LIMITED
REGISTERED NUMBER: 01099581
    
COMPANY BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024

The directors consider that the Company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the consolidated statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 


J Horn
S C Horne
Director
Director


Date: 7 March 2025

The notes on pages 6 to 15 form part of these financial statements.

Page 5

 
HORN & HORNE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

1.


General information

Horn & Horne Limited is a private company limited by shares, incorporated in England & Wales (registered number: 01099581). The registered office of the company is 17 Hanover Square, London, England, W1S 1BN. This is also the group's principal place of business. 
The financial statements are presented in Sterling, which is the functional currency of the group. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of Comprehensive Income in these financial statements.

The following principal accounting policies have been applied:

 
2.2

Basis of consolidation

The consolidated financial statements present the results of Horn & Horne Limited and its subsidiaries ("the Group") as if they formed a single entity. Intercompany transactions and balances between the group companies are therefore eliminated in full. 
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the balance sheet, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the consolidated statement of comprehensive income from the date on which the control is obtained. They are deconsolidated from the date control ceases. 

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Group 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. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Group has transferred the significant risks and rewards of ownership to the buyer;
the Group retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Group will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Page 6

 
HORN & HORNE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.4

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Where merger relief is applicable, the cost of the investment in a subsidiary undertaking is measured at the nominal value of the shares issued together with the fair value of any additional consideration paid. 

 
2.5

Financial liabilities

Financial liabilities and equity are classified according to the substance of the financial instrument's contractual obligations, rather than the financial instrument's legal form. Financial liabilities are initially measured at transaction price (including transaction costs) and subsequently held at amortised cost.

 
2.6

Pensions

Defined contribution pension plan

The Group operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Group pays fixed contributions into a separate entity. Once the contributions have been paid the Group has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Group in independently administered funds.

Page 7

 
HORN & HORNE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Computer equipment
-
33%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Stocks

Stock and work in progress represents the land value of properties under construction and completed properties held for sale and is valued at the lower of cost and net realisable value. 
At each reporting date, inventories are assessed for impairment. If inventory is impaired, the carrying amount is reduced to its selling price less cost to complete and sell. 

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 8

 
HORN & HORNE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.12

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

In preparing these financial statements, the directors have made the following judgements:
 
• Valuation of investment properties
Investment properties are valued annually by the directors, having regard to recent independent    external valuations performed on each of the portfolio assets or comparable properties held by other group undertakings. The properties are valued using a yield methodology method which uses current passing rental values capitalised at a market capitalisation rate, but there is an inevitable degree of judgement involved in that each property is unique and value can ultimately only by reliably tested in the market itself. 
• Recoverable value of recognised receivables 
The recoverability of trade receivables is regularly reviewed in the light of the available economic information specific to each receivable and specific provisions are recognised for balances considered to be irrecoverable. 

Page 9

 
HORN & HORNE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

4.


Turnover

An analysis of turnover by class of business is as follows:


period ended
30 June
year ended
31 December
2024
2022
£
£

Turnover
6,022,704
3,270,268

6,022,704
3,270,268


Analysis of turnover by country of destination:

period ended
30 June
year ended
31 December
2024
2022
£
£

United Kingdom
6,022,704
3,270,268

6,022,704
3,270,268



5.


Employees


Cost of defined contribution scheme
6,450
5,900
-
-

6,450
5,900
-
-


The average monthly number of employees, including directors, during the period was 4 (2022 - 4).


6.


Directors' remuneration

period ended
30 June
year ended
31 December
2024
2022
£
£

Directors' emoluments
80,000
74,167

Group contributions to defined contribution pension schemes
2,400
2,225

82,400
76,392


Page 10

 
HORN & HORNE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

7.


Interest payable and similar expenses

period ended
30 June
year ended
31 December
2024
2022
£
£


Bank interest payable
74,485
35,424

Other loan interest payable
259,140
176,153

333,625
211,577


8.


Taxation


period ended
30 June
year ended
31 December
2024
2022
£
£



Total current tax
-
-

Factors affecting tax charge for the period/year

There were no factors that affected the tax charge for the period/year which has been calculated on the profits on ordinary activities before tax at the standard rate of corporation tax in the UK of  25% (2022 - 19%).


Page 11

 
HORN & HORNE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

9.


Tangible fixed assets

Group








Computer equipment

£



Cost or valuation


At 1 January 2023
5,245



At 30 June 2024

5,245



Depreciation


At 1 January 2023
4,379


Charge for the period on owned assets
322



At 30 June 2024

4,701



Net book value



At 30 June 2024
544



At 31 December 2022
866

Page 12

 
HORN & HORNE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

           9.Tangible fixed assets (continued)


Company









Computer equipment

£

Cost or valuation


At 1 January 2023
5,245



At 30 June 2024

5,245



Depreciation


At 1 January 2023
4,379


Charge for the period on owned assets
322



At 30 June 2024

4,701



Net book value



At 30 June 2024
544



At 31 December 2022
866







10.


Stocks

Group
30 June
Group
31 December
2024
2022
£
£

Finished goods and goods for resale
-
2,524,676

-
2,524,676


Page 13

 
HORN & HORNE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

11.


Debtors

Group
30 June
Group
31 December
Company
30 June
Company
31 December
2024
2022
2024
2022
£
£
£
£


Trade debtors
127,396
3,302,480
125,001
5,377

Amounts owed by group undertakings
75,146
11,728
6,055
11,727

Amounts owed by joint ventures and associated undertakings
42,082
-
42,082
-

Other debtors
130,734
6,972
5,613
5,014

Prepayments and accrued income
-
3,850
-
3,850

375,358
3,325,030
178,751
25,968



12.


Cash and cash equivalents

Group
30 June
Group
31 December
Company
30 June
Company
31 December
2024
2022
2024
2022
£
£
£
£

Cash at bank and in hand
1,336,564
1,046,434
1,208,329
975,274

Less: bank overdrafts
(65)
-
-
-

1,336,499
1,046,434
1,208,329
975,274



13.


Creditors: Amounts falling due within one year

Group
30 June
Group
31 December
Company
30 June
Company
31 December
2024
2022
2024
2022
£
£
£
£

Bank overdrafts
65
-
-
-

Trade creditors
254,970
182,596
129,968
25,102

Amounts owed to group undertakings
117,197
4,891,407
41,779
(362,161)

Other taxation and social security
-
1,155
-
1,156

Accruals and deferred income
53,163
501,364
12,585
250,619

425,395
5,576,522
184,332
(85,284)


Page 14

 
HORN & HORNE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

14.


Controlling party

The company has no ultimate controlling party. 

 
Page 15