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REGISTERED NUMBER: 03730184 (England and Wales)










Unaudited Financial Statements

for the Year Ended 30 June 2024

for

Horizon Property Management Limited

Horizon Property Management Limited (Registered number: 03730184)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Horizon Property Management Limited

Company Information
for the Year Ended 30 June 2024







DIRECTOR: V Patni





SECRETARY: Mrs B Patni





REGISTERED OFFICE: 7 Merlin Courtyard
Gatehouse Close
Aylesbury
Buckinghamshire
HP19 8DP





REGISTERED NUMBER: 03730184 (England and Wales)





ACCOUNTANTS: Danton Partners
7 Merlin Courtyard
Gatehouse Close
Aylesbury
Buckinghamshire
HP19 8DP

Horizon Property Management Limited (Registered number: 03730184)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 2,663,220
Investment property 5 4,055,104 -
4,055,104 2,663,220

CURRENT ASSETS
Debtors 6 112,603 153,529
Cash at bank 416,550 131,394
529,153 284,923
CREDITORS
Amounts falling due within one year 7 863,433 872,039
NET CURRENT LIABILITIES (334,280 ) (587,116 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,720,824

2,076,104

CREDITORS
Amounts falling due after more than one
year

8

(2,197,995

)

(1,931,892

)

PROVISIONS FOR LIABILITIES 9 (347,971 ) -
NET ASSETS 1,174,858 144,212

CAPITAL AND RESERVES
Called up share capital 10 100 100
Non-distributable reserve 11 1,043,913 -
Retained earnings 130,845 144,112
SHAREHOLDERS' FUNDS 1,174,858 144,212

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

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

Horizon Property Management Limited (Registered number: 03730184)

Balance Sheet - continued
30 June 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 21 March 2025 and were signed by:





V Patni - Director


Horizon Property Management Limited (Registered number: 03730184)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Horizon Property Management 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 as modified by the revaluation of certain assets.

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.
Plant and machinery etc - 25% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

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

Horizon Property Management Limited (Registered number: 03730184)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

4. TANGIBLE FIXED ASSETS
Freehold Computer
property equipment Totals
£    £    £   
COST
At 1 July 2023 2,663,220 5,757 2,668,977
Reclassification/transfer (2,663,220 ) - (2,663,220 )
At 30 June 2024 - 5,757 5,757
DEPRECIATION
At 1 July 2023
and 30 June 2024 - 5,757 5,757
NET BOOK VALUE
At 30 June 2024 - - -
At 30 June 2023 2,663,220 - 2,663,220

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Revaluations 1,391,884
Reclassification/transfer 2,663,220
At 30 June 2024 4,055,104
NET BOOK VALUE
At 30 June 2024 4,055,104

Fair value at 30 June 2024 is represented by:
£   
Valuation in 2024 4,055,104

If the investment property had not been revalued it would have been included at the following historical cost:

30.6.24 30.6.23
£    £   
Cost 2,663,220 2,663,220

The investment property was valued on an open market basis on 30 June 2024 by the director .

The freehold property of £2,663,220 was reclassified as the investment property during the year so its treatment in the financial statements matches with the purpose they are held for.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Other debtors 112,603 153,529

Horizon Property Management Limited (Registered number: 03730184)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts 29,143 30,626
Taxation and social security 5,103 18,285
Other creditors 829,187 823,128
863,433 872,039

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.24 30.6.23
£    £   
Bank loans 26,196 29,173
Other creditors 2,171,799 1,902,719
2,197,995 1,931,892

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Mortgage 2,171,799 1,902,719

Repayable by instalments
Bank loans more 5 yr by instal - 29,173

9. PROVISIONS FOR LIABILITIES
30.6.24 30.6.23
£    £   
Deferred tax
Other timing differences 347,971 -

Deferred
tax
£   
Provided during year 347,971
Balance at 30 June 2024 347,971

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.24 30.6.23
value: £    £   
100 Ordinary £1 100 100

Horizon Property Management Limited (Registered number: 03730184)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

11. RESERVES
Non-distributable
reserve
£   
Revaluation of the properties 1,043,913

At 30 June 2024 1,043,913

12. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The director owes the company £97,075 (2023 - £145,645). This is an interest bearing loan and repayable on demand. Interest of £2,700 (2023: £1,571) has been charged on the loan.

13. RELATED PARTY DISCLOSURES

As at 30 June 2024 included within other creditors, was an amount of £687,418 (2023 - £687,368) due to 4EMK Ltd, a company controlled by V Patni. The amount loaned is interest free and there are no repayment terms in place.

As at 30 June 2024 included within other creditors, was an amount of £124,365 (2023 - £129,577) due to SV Pharmacies Ltd, a company controlled by V Patni. The amount loaned is interest free and there are no repayment terms in place.

14. CHARGES

Four banks hold charges over the company, namely Barclays, Shawbrook, Fleet Mortgages and Aldermore bank in the form of fixed and floating charges.