Company registration number 08821731 (England and Wales)
HORIZON HOMES (DORSET) LTD
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED
31 MARCH 2024
4 Brackley Close
Bournemouth International Airport
Christchurch
Dorset
BH23 6SE
HORIZON HOMES (DORSET) LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
HORIZON HOMES (DORSET) LTD
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
31 March 2024
31 December 2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
2,428
Current assets
Debtors
4
125,688
43,391
Cash at bank and in hand
21,831
5,836
147,519
49,227
Creditors: amounts falling due within one year
5
(154,840)
(88,756)
Net current liabilities
(7,321)
(39,529)
Total assets less current liabilities
(7,321)
(37,101)
Creditors: amounts falling due after more than one year
6
(28,586)
(36,065)
Net liabilities
(35,907)
(73,166)
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(36,007)
(73,266)
Total equity
(35,907)
(73,166)
For the financial period ended 31 March 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 period 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 11 June 2025 and are signed on its behalf by:
Mr S Edmonds
Director
Company registration number 08821731 (England and Wales)
HORIZON HOMES (DORSET) LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
- 2 -
1
Accounting policies
Company information
Horizon Homes (Dorset) Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 4 Brackley Close, Bournemouth International Airport, Christchurch, Dorset, BH23 6SE.
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.
1.2
Going concern
At the balance sheet date there are net liabilities of £35,907. However, the directors believe the company can continue to operate for the foreseeable future. Therefore, the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Reporting period
The financial statements cover a 15 month period, so that the year end date matches the end of the tax year. Therefore the comparative amounts presented in the financial statements are not entirely comparable.
1.4
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.
1.5
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:
Motor vehicles
25% reducing balance
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.
1.6
Financial instruments
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 HOMES (DORSET) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 3 -
1.7
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
Current tax is recognised on taxable profit for the current and, where not previously recognised, past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
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.
2
Employees
The average monthly number of persons (including directors) employed by the company during the period was:
2024
2022
Number
Number
Total
2
2
3
Tangible fixed assets
Motor vehicles
£
Cost
At 1 January 2023
4,409
Disposals
(4,409)
At 31 March 2024
Depreciation and impairment
At 1 January 2023
1,981
Depreciation charged in the period
708
Eliminated in respect of disposals
(2,689)
At 31 March 2024
Carrying amount
At 31 March 2024
At 31 December 2022
2,428
HORIZON HOMES (DORSET) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2024
- 4 -
4
Debtors
2024
2022
Amounts falling due within one year:
£
£
Trade debtors
33,412
2,393
Other debtors
92,276
40,998
125,688
43,391
5
Creditors: amounts falling due within one year
2024
2022
£
£
Bank loans
5,514
5,463
Trade creditors
5,052
5,289
Taxation and social security
142,104
75,834
Other creditors
2,170
2,170
154,840
88,756
6
Creditors: amounts falling due after more than one year
2024
2022
£
£
Bank loans and overdrafts
28,586
36,065
Creditors which fall due after five years are as follows:
2024
2022
£
£
Payable by instalments
6,529
14,213
7
Directors' transactions
Description
% Rate
Opening balance
Amounts advanced
Interest charged
Amounts repaid
Closing balance
£
£
£
£
£
S Edmonds
2.25
19,707
69,716
768
(55,696)
34,495
L Parry
2.25
21,281
61,481
996
(39,042)
44,716
40,988
131,197
1,764
(94,738)
79,211