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Registration number: 08219154

Horizon Consulting Engineers Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2024

 

Horizon Consulting Engineers Limited

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Horizon Consulting Engineers Limited

(Registration number: 08219154)
Statement of Financial Position as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

10,129

12,879

Current assets

 

Work in progress

 

4,809

12,045

Debtors

5

118,361

81,304

Cash at bank and in hand

 

8,597

30,181

 

131,767

123,530

Creditors: Amounts falling due within one year

6

(85,885)

(100,516)

Net current assets

 

45,882

23,014

Total assets less current liabilities

 

56,011

35,893

Provisions for liabilities

(2,036)

(2,519)

Net assets

 

53,975

33,374

Capital and reserves

 

Called up share capital

150

150

Share premium reserve

9,950

9,950

Profit and loss account

43,875

23,274

Shareholders' funds

 

53,975

33,374

 

Horizon Consulting Engineers Limited

(Registration number: 08219154)
Statement of Financial Position as at 30 September 2024 (continued)

For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the Board on 12 June 2025 and signed on its behalf by:
 


Mr J Tamblyn
Director


Mr A Large
Director


Dr H Tamblyn
Director

 

Horizon Consulting Engineers Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
26-28 Southernhay East
Exeter
Devon
EX1 1NS

Principal activity

The principal activity of the company is provision of engineering consultancy services.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Turnover

Turnover represents the total value of work, excluding value added tax, performed during the year.

Taxation

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Horizon Consulting Engineers Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

2

Accounting policies (continued)

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation.

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:

Asset class

Depreciation method and rate

Short leasehold property

10% straight line

Plant and machinery

25% reducing balance

Motor vehicles

25% reducing balance

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Stocks

Work in progress is valued at net realisable value based on the percentage of completion at the period end.

 

Horizon Consulting Engineers Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

2

Accounting policies (continued)

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

Defined contribution pension obligation

Contributions to defined contribution plans are recognised as an expense in the period the payment is made.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2023 - 5).

 

Horizon Consulting Engineers Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

4

Tangible assets

Short leasehold land and buildings
£

Plant and machinery
£

Total
£

Cost or valuation

At 1 October 2023

3,829

48,788

52,617

Additions

-

1,009

1,009

At 30 September 2024

3,829

49,797

53,626

Depreciation

At 1 October 2023

3,446

36,292

39,738

Charge for the year

383

3,376

3,759

At 30 September 2024

3,829

39,668

43,497

Carrying amount

At 30 September 2024

-

10,129

10,129

At 30 September 2023

383

12,496

12,879

Included within the net book value of land and buildings above is £Nil (2023 - £383) in respect of short leasehold land and buildings.
 

5

Debtors

2024
£

2023
£

Trade debtors

115,569

77,951

Other debtors

2,792

3,353

118,361

81,304

 

Horizon Consulting Engineers Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

3,842

6,813

Taxation and social security

77,203

73,782

Accruals and deferred income

3,903

3,419

Other creditors

937

16,502

85,885

100,516

7

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

8

Related party transactions

Transactions with directors

2024

At 1 October 2023
£

Advances to director
£

At 30 September 2024
£

Directors

(16,502)

16,791

289

       
     

 

2023

At 1 October 2022
£

Other payments made to company by director
£

At 30 September 2023
£

Directors

(2)

(16,500)

(16,502)