Company registration number 07058859 (England and Wales)
HORIZON CORPORATE FACILITIES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
PAGES FOR FILING WITH REGISTRAR
HORIZON CORPORATE FACILITIES LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
HORIZON CORPORATE FACILITIES LIMITED
BALANCE SHEET
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
Stocks
876
3,230
Debtors
4
89,003
95,468
Cash at bank and in hand
206
1,638
90,085
100,336
Creditors: amounts falling due within one year
5
(23,765)
(19,428)
Net current assets
66,320
80,908
Creditors: amounts falling due after more than one year
6
(130,382)
(119,315)
Net liabilities
(64,062)
(38,407)
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
(64,063)
(38,408)
Total equity
(64,062)
(38,407)
For the financial year ended 31 July 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 of its financial statements for the year in question in accordance with section 476.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 10 April 2025 and are signed on its behalf by:
Mr B J Stevens
Director
Company registration number 07058859 (England and Wales)
HORIZON CORPORATE FACILITIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
- 2 -
1
Accounting policies
Company information
Horizon Corporate Facilities Limited is a private company limited by shares incorporated in England and Wales. The registered office is Wharf Approach, Anchor Brook Business Park, Aldridge, West Midlands, WS9 8BX.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
These financial statements have been prepared on the going concern basis, which the directors consider appropriate in the following circumstances. It is anticipated that the company's trading results will improve, and the company will have the continued support of its parent company.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of discounts and VAT.
1.4
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
1.5
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost.
Classification of financial liabilities
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 company after deducting all of its liabilities.
HORIZON CORPORATE FACILITIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 3 -
Basic financial liabilities
Basic financial liabilities, including creditors, bank and other loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.
1.6
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.7
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
1.8
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are 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 considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
3
3
HORIZON CORPORATE FACILITIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 4 -
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
24,748
18,041
Other debtors
61,868
74,879
Prepayments and accrued income
2,387
2,548
89,003
95,468
Long term debtors represent inter-company trading debts to two associated companies, which have experienced difficult trading conditions so the company has extended trading terms with them.
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
14,775
13,348
Taxation and social security
7,046
2,989
Accruals and deferred income
1,944
3,091
23,765
19,428
Bank borrowings are secured by fixed and floating charges over all of the company's assets.
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
130,382
119,315
8
Parent company
The company is a wholly owned subsidiary of Horizon Soft Drinks Limited, a company registered in England and Wales, whose registered office is Anchor Brook Business Park, Wharf Approach, Aldridge, West Midlands, WS9 8BX and company registration number is 01710896.