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COMPANY REGISTRATION NUMBER: 03383199
New Horizon Marketing Limited
Filleted Unaudited Financial Statements
Year ended
30 June 2024
New Horizon Marketing Limited
Financial Statements
Year ended 30 June 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
New Horizon Marketing Limited
Statement of Financial Position
30 June 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible assets
5
160,030
79,058
Current assets
Debtors
6
400
Cash at bank and in hand
2,101
25,954
-------
--------
2,101
26,354
Creditors: amounts falling due within one year
7
64,499
3,981
--------
--------
Net current (liabilities)/assets
( 62,398)
22,373
----------
----------
Total assets less current liabilities
97,632
101,431
Provisions
Taxation including deferred tax
15,497
113
--------
----------
Net assets
82,135
101,318
--------
----------
Capital and reserves
Called up share capital
2
2
Profit and loss account
82,133
101,316
--------
----------
Shareholder funds
82,135
101,318
--------
----------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
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.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
New Horizon Marketing Limited
Statement of Financial Position (continued)
30 June 2024
These financial statements were approved by the board of directors and authorised for issue on 21 March 2025 , and are signed on behalf of the board by:
Mrs J Wiggle
Director
Company registration number: 03383199
New Horizon Marketing Limited
Notes to the Financial Statements
Year ended 30 June 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Newstead, Low Moor, Rillington, Malton, North Yorkshire, YO17 8JU.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The UK economy has recently been impacted by rising inflation, interest rates and energy costs, exacerbated by the war in Ukraine. All these matters have impacted the company's trading results to a greater or lesser extent. At the date of signing these financial statements, the directors have considered the effect of these matters on the company with the information available to it and do not believe that it will affect the ability of the company to continue to trade for the foreseeable future. On this basis, the directors have prepared these financial statements on a going concern basis.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered. The turnover shown in the profit and loss account represents the amounts of rental income due and receivable for the year.
Current and deferred tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant & Machinery
-
10% reducing balance
Fixtures & Fittings
-
10% reducing balance
Equipment
-
25% reducing balance
No depreciation is charged on land and buildings.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Tangible assets
Land and buildings
Plant and machinery
Fixtures and fittings
Equipment
Total
£
£
£
£
£
Cost
At 1 July 2023
78,466
4,922
5,455
88,843
Additions
90,000
80
90,080
--------
--------
-------
-------
----------
At 30 June 2024
78,466
90,000
4,922
5,535
178,923
--------
--------
-------
-------
----------
Depreciation
At 1 July 2023
4,504
5,281
9,785
Charge for the year
9,020
44
44
9,108
--------
--------
-------
-------
----------
At 30 June 2024
9,020
4,548
5,325
18,893
--------
--------
-------
-------
----------
Carrying amount
At 30 June 2024
78,466
80,980
374
210
160,030
--------
--------
-------
-------
----------
At 30 June 2023
78,466
418
174
79,058
--------
--------
-------
-------
----------
6. Debtors
2024
2023
£
£
Trade debtors
400
----
----
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
56,416
1,380
Corporation tax
1,227
1,530
Director loan accounts
6,856
1,071
--------
-------
64,499
3,981
--------
-------
8. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
Mrs J Wiggle
( 1,071)
4,200
( 9,985)
( 6,856)
-------
-------
-------
-------
2023
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
Mrs J Wiggle
1,041
4,200
( 6,312)
( 1,071)
-------
-------
-------
-------