Registration number: 05928981

Horizon Mobility Ltd

Contents

Company Information	1
Abridged Balance Sheet	2 to 3
Notes to the Unaudited Abridged Financial Statements	4 to 10

Horizon Mobility Ltd

Company Information

Directors

Mr M J Billcliffe Mr G S Billcliffe

Registered office

Waterside Court Falmouth Road Penryn Cornwall TR10 8AW

Accountants

GW & Co Limited Chartered Certified AccountantsWaterside Court Falmouth Road Penryn Cornwall TR10 8AW

Horizon Mobility Ltd

(Registration number: 05928981)
Abridged Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Intangible assets	4	14,001	17,501
Tangible assets	5	1,725,763	1,964,220
		1,739,764	1,981,721
Current assets
Stocks	6	13,516	13,966
Debtors		69,631	116,595
Cash at bank and in hand		193,783	91,765
		276,930	222,326
Prepayments and accrued income		38,300	36,378
Creditors: Amounts falling due within one year		(530,614)	(503,042)
Net current liabilities		(215,384)	(244,338)
Total assets less current liabilities		1,524,380	1,737,383
Creditors: Amounts falling due after more than one year		(142,066)	(381,790)
Accruals and deferred income		(6,877)	(3,750)
Net assets		1,375,437	1,351,843
Capital and reserves
Called up share capital	7	75,240	75,240
Retained earnings		1,300,197	1,276,603
Shareholders' funds		1,375,437	1,351,843

For the financial year ending 31 December 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.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

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 Profit and Loss Account.

Approved and authorised by the Board on 29 September 2025 and signed on its behalf by:
 

Horizon Mobility Ltd

(Registration number: 05928981)
Abridged Balance Sheet as at 31 December 2024

......................................... Mr M J Billcliffe Director

......................................... Mr G S Billcliffe Director

Horizon Mobility Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2024

1	General information

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

The address of its registered office is:
Waterside Court
Falmouth Road
Penryn
Cornwall
TR10 8AW
England

These financial statements were authorised for issue by the Board on 29 September 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged 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 abridged 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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current 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 Mobility Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Improvements to property	Written off over 20 years
Plant & machinery	20% reducing balance
Fixtures & fittings	20% reducing balance
Motor vehicles	20% reducing balance

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.

Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Patents & licenses	Written off over 20 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, 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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Horizon Mobility Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2024

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Horizon Mobility Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 35 (2023 - 35).

Horizon Mobility Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2024

4	Intangible assets

	Total £
Cost or valuation
At 1 January 2024	66,520
At 31 December 2024	66,520
Amortisation
At 1 January 2024	49,019
Amortisation charge	3,500
At 31 December 2024	52,519
Carrying amount
At 31 December 2024	14,001
At 31 December 2023	17,501

5	Tangible assets

	Properties under construction  £	Fixtures and fittings £	Plant and machinery £	Motor vehicles  £
Cost or valuation
At 1 January 2024	135,126	238,883	3,230,408	709,456
Additions	-	23,276	563,970	-
Disposals	-	-	(889,242)	(288,950)
At 31 December 2024	135,126	262,159	2,905,136	420,506
Depreciation
At 1 January 2024	57,843	162,877	1,775,150	353,783
Charge for the year	6,757	19,857	340,361	53,188
Eliminated on disposal	-	-	(573,435)	(199,217)
At 31 December 2024	64,600	182,734	1,542,076	207,754
Carrying amount
At 31 December 2024	70,526	79,425	1,363,060	212,752
At 31 December 2023	77,283	76,006	1,455,258	355,673

Horizon Mobility Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2024

	Total £
Cost or valuation
At 1 January 2024	4,313,873
Additions	587,246
Disposals	(1,178,192)
At 31 December 2024	3,722,927
Depreciation
At 1 January 2024	2,349,653
Charge for the year	420,163
Eliminated on disposal	(772,652)
At 31 December 2024	1,997,164
Carrying amount
At 31 December 2024	1,725,763
At 31 December 2023	1,964,220

Horizon Mobility Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2024

6

Stocks

	2024 £	2023 £
Other inventories	13,516	13,966

7	Share capital

Allotted, called up and fully paid shares

	2024		2023
	No.	£	No.	£
Ordinary shares of £1 each	75,000	75,000	75,000	75,000
Ordinary B shares of £1 each	190	190	190	190
	75,190	75,190	75,190	75,190

8

Dividends

		2024		2023
		£		£
Interim dividend of £362,500.00 (2023 - £275,000.00) per ordinary share		362,500		275,000

9	Related party transactions

As at 31 December 2024 the Company owes the Directors £27,221.