Company registration number 01710896 (England and Wales)
HORIZON SOFT DRINKS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
PAGES FOR FILING WITH REGISTRAR
HORIZON SOFT DRINKS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
HORIZON SOFT DRINKS LIMITED
BALANCE SHEET
AS AT
31 JULY 2024
31 July 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
139,294
149,866
Investments
5
1
1
139,295
149,867
Current assets
Stocks
272,009
297,787
Debtors
6
3,175,041
2,807,582
Cash at bank and in hand
166
75,855
3,447,216
3,181,224
Creditors: amounts falling due within one year
7
(1,106,088)
(868,934)
Net current assets
2,341,128
2,312,290
Total assets less current liabilities
2,480,423
2,462,157
Creditors: amounts falling due after more than one year
8
(37,264)
(37,690)
Provisions for liabilities
(19,525)
(19,900)
Net assets
2,423,634
2,404,567
Capital and reserves
Called up share capital
6,000
6,000
Profit and loss reserves
2,417,634
2,398,567
Total equity
2,423,634
2,404,567
HORIZON SOFT DRINKS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 JULY 2024
31 July 2024
- 2 -

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 members have 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 29 April 2025 and are signed on its behalf by:
Mr B J Stevens
Director
Company registration number 01710896 (England and Wales)
HORIZON SOFT DRINKS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
- 3 -
1
Accounting policies
Company information

Horizon Soft Drinks 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.

These financial statements are for the individual company only. The company and its subsidiary form a small group eligible for exemption from the requirement to prepare group accounts, as defined in the Companies Act.

1.2
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 VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods.

 

Equipment rental income is recognised on a straight line basis over the term of the rental agreement.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
Over the life of the lease
Plant and machinery
20% straight line
Fittings fixtures and equipment
10% - 33% straight line
Motor vehicles
20% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

HORIZON SOFT DRINKS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 4 -

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Recoverable amount is the higher of fair value less costs to sell and value in use.

1.6
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.

.

1.7
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.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers

1.8
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.

HORIZON SOFT DRINKS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 5 -
1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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 calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised.

1.10
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.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.12
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.13
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

HORIZON SOFT DRINKS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 6 -
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. 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.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
25
26
4
Tangible fixed assets
Leasehold improvements
Plant and machinery
Fittings fixtures and equipment
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 August 2023
40,006
199,415
248,651
452,322
940,394
Additions
-
0
7,113
2,333
26,000
35,446
Disposals
-
0
-
0
-
0
(96,017)
(96,017)
At 31 July 2024
40,006
206,528
250,984
382,305
879,823
Depreciation and impairment
At 1 August 2023
40,006
145,675
248,095
356,752
790,528
Depreciation charged in the year
-
0
17,777
1,112
27,129
46,018
Eliminated in respect of disposals
-
0
-
0
-
0
(96,017)
(96,017)
At 31 July 2024
40,006
163,452
249,207
287,864
740,529
Carrying amount
At 31 July 2024
-
0
43,076
1,777
94,441
139,294
At 31 July 2023
-
0
53,740
556
95,570
149,866
5
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
1
1
HORIZON SOFT DRINKS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 7 -
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
856,715
756,903
Corporation tax recoverable
-
0
25,879
Amounts owed by group undertakings
130,382
119,315
Other debtors
38,145
19,215
Prepayments and accrued income
42,579
35,106
1,067,821
956,418
2024
2023
Amounts falling due after more than one year:
£
£
Trade debtors
366,115
288,293
Amounts owed by undertakings in which the company has a participating interest
1,306,282
1,348,016
Other debtors
434,823
214,855
2,107,220
1,851,164
Total debtors
3,175,041
2,807,582

The amounts showing as debts due after more than one year relate to inter-company trading debts and loans with associated companies which operate in the licensed trade and obtain their supplies for resale from this company. These companies' have experienced difficult trading conditions and their balance sheets show an excess of liabilities over assets. With increased levels of trading the directors expect to recover the amounts due in the next few years.

 

7
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
31,205
-
0
Obligations under finance leases
27,417
30,392
Trade creditors
840,684
768,173
Taxation and social security
112,706
56,031
Other creditors
80,619
-
0
Accruals and deferred income
13,457
14,338
1,106,088
868,934
HORIZON SOFT DRINKS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 8 -
8
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Obligations under finance leases
37,264
37,690

Bank borrowings are secured by a charge over all of the company's assets.

9
Related party transactions
Transactions with related parties

The following amounts were outstanding at the reporting end date:

2024
2023
Amounts due from related parties
£
£
Entities over which the entity has control, joint control or significant influence
1,764,868
1,677,027
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