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REGISTERED NUMBER: 03346997 (England and Wales)















Financial Statements for the Year Ended 30 November 2024

for

T.H. Horn Ltd

T.H. Horn Ltd (Registered number: 03346997)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


T.H. Horn Ltd

Company Information
for the Year Ended 30 November 2024







DIRECTOR: B H Horn



SECRETARY: Casered Ltd



REGISTERED OFFICE: Copthorne Farm, Woods Lane
Eagland Hill
Preston
Lancashire
PR3 6BB



REGISTERED NUMBER: 03346997 (England and Wales)



ACCOUNTANTS: Bennett Kirkhope Smith
Chartered Certified Accountants
Suites 5 & 6 The Printworks
Hey Road
Barrow
Clitheroe
Lancashire
BB7 9WB



SOLICITORS: Napthens Solicitors
7 Winckley Square
Preston
Lancashire
PR1 3JD

T.H. Horn Ltd (Registered number: 03346997)

Balance Sheet
30 November 2024

30.11.24 30.11.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 363,375 418,797
Investments 5 993,860 977,067
1,357,235 1,395,864

CURRENT ASSETS
Stocks 1,728,593 2,046,900
Debtors 6 403,705 245,720
Cash at bank and in hand 803,898 548,755
2,936,196 2,841,375
CREDITORS
Amounts falling due within one year 7 850,758 868,978
NET CURRENT ASSETS 2,085,438 1,972,397
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,442,673

3,368,261

CREDITORS
Amounts falling due after more than one
year

8

(119,000

)

(178,613

)

PROVISIONS FOR LIABILITIES 10 (76,923 ) (86,157 )
NET ASSETS 3,246,750 3,103,491

CAPITAL AND RESERVES
Called up share capital 11 150,000 150,000
Retained earnings 3,096,750 2,953,491
SHAREHOLDERS' FUNDS 3,246,750 3,103,491

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

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

T.H. Horn Ltd (Registered number: 03346997)

Balance Sheet - continued
30 November 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 29 August 2025 and were signed by:





B H Horn - Director


T.H. Horn Ltd (Registered number: 03346997)

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


1. STATUTORY INFORMATION

T.H. Horn Ltd 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.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Leasehold improvements - 4% on cost
Hire fleet - 15% on reducing balance
Machinery and equipment - 15% on reducing balance
Furniture, fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Office equipment - 33% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Under FRS 102 1A derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss. Due to the nature of the investments held they are deemed to be exempt and hence are included at cost.

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.

T.H. Horn Ltd (Registered number: 03346997)

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


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 14 ) .

4. TANGIBLE FIXED ASSETS
Machinery
Leasehold Hire and
improvements fleet equipment
£    £    £   
COST
At 1 December 2023 76,341 344,011 43,641
Additions - 15,649 -
Disposals - (26,795 ) -
At 30 November 2024 76,341 332,865 43,641
DEPRECIATION
At 1 December 2023 12,216 67,594 30,681
Charge for year 3,054 41,205 1,944
Eliminated on disposal - (18,313 ) -
At 30 November 2024 15,270 90,486 32,625
NET BOOK VALUE
At 30 November 2024 61,071 242,379 11,016
At 30 November 2023 64,125 276,417 12,960

T.H. Horn Ltd (Registered number: 03346997)

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


4. TANGIBLE FIXED ASSETS - continued

Furniture,
fixtures
and Motor Office
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 December 2023 9,705 140,737 18,903 633,338
Additions - - - 15,649
Disposals - - - (26,795 )
At 30 November 2024 9,705 140,737 18,903 622,192
DEPRECIATION
At 1 December 2023 3,652 89,826 10,572 214,541
Charge for year 908 12,728 2,750 62,589
Eliminated on disposal - - - (18,313 )
At 30 November 2024 4,560 102,554 13,322 258,817
NET BOOK VALUE
At 30 November 2024 5,145 38,183 5,581 363,375
At 30 November 2023 6,053 50,911 8,331 418,797

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Hire
fleet
£   
COST
At 1 December 2023 177,041
Additions 420
At 30 November 2024 177,461
DEPRECIATION
At 1 December 2023 13,174
Charge for year 24,643
At 30 November 2024 37,817
NET BOOK VALUE
At 30 November 2024 139,644
At 30 November 2023 163,867

T.H. Horn Ltd (Registered number: 03346997)

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


5. FIXED ASSET INVESTMENTS
Unlisted
investments
£   
COST
At 1 December 2023 977,067
Additions 87,900
Disposals (82,130 )
Dividends received 11,023
At 30 November 2024 993,860
NET BOOK VALUE
At 30 November 2024 993,860
At 30 November 2023 977,067

Market value of the investments at 30 November 2024 - £1,399,882 (2023 - £1,201,412).

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.24 30.11.23
£    £   
Trade debtors 383,308 234,026
Prepayments and accrued income 20,397 11,694
403,705 245,720

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.24 30.11.23
£    £   
Hire purchase contracts 59,713 71,655
Trade creditors 444,810 559,525
Corporation tax 80,643 22,714
PAYE and NIC 5,407 8,463
VAT 69,603 23,123
Other creditors 4,582 5,853
Directors' current account 166,618 164,491
Accruals 19,382 13,154
850,758 868,978

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.11.24 30.11.23
£    £   
Hire purchase contracts - 59,613
Directors' loan accounts 119,000 119,000
119,000 178,613

T.H. Horn Ltd (Registered number: 03346997)

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


9. SECURED DEBTS

The following secured debts are included within creditors:

30.11.24 30.11.23
£    £   
Hire purchase contracts 59,713 131,268

The hire purchase obligations are secured on the assets to which they relate.

10. PROVISIONS FOR LIABILITIES
30.11.24 30.11.23
£    £   
Deferred tax 76,923 86,157

Deferred
tax
£   
Balance at 1 December 2023 86,157
Provided during year (9,234 )
Balance at 30 November 2024 76,923

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.11.24 30.11.23
value: £    £   
150,000 Ordinary £1 150,000 150,000

12. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

During the year the company occupied premises privately owned by B H Horn, the company's director. Rent of £38,000 (2023: £38,000) was payable during the year. There was no outstanding balance at the year end in respect of this or the previous year.