| REGISTERED NUMBER: |
| Horizon Home Improvements Limited |
| Unaudited Financial Statements |
| for the Year Ended 31st March 2025 |
| REGISTERED NUMBER: |
| Horizon Home Improvements Limited |
| Unaudited Financial Statements |
| for the Year Ended 31st March 2025 |
| Horizon Home Improvements Limited (Registered number: 06129088) |
| Contents of the Financial Statements |
| for the Year Ended 31st March 2025 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 3 |
| Horizon Home Improvements Limited |
| Company Information |
| for the Year Ended 31st March 2025 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Unit 2 Dunheved Court |
| Pennygillam Way |
| LAUNCESTON |
| Cornwall |
| PL15 7ED |
| Horizon Home Improvements Limited (Registered number: 06129088) |
| Statement of Financial Position |
| 31st March 2025 |
| 2025 | 2024 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 3 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 4 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 5 |
| NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 6 | ( |
) | ( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| 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. |
| The financial statements were approved by the director and authorised for issue on |
| Horizon Home Improvements Limited (Registered number: 06129088) |
| Notes to the Financial Statements |
| for the Year Ended 31st March 2025 |
| 1. | STATUTORY INFORMATION |
| Horizon Home Improvements Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services, adjusted for deposits in hand and work in progress. |
| Sale of goods |
| Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods. |
| Rendering of services |
| Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably. |
| Tangible fixed assets |
| Depreciation is provided at the following annual rates in order to write off each asset over its estimated used life: |
| Land and Freehold - Not provided for the Land and original cost of the Building. |
| Expenditure on Buildings - Leasehold over the remaining life of the lease being 15 years. |
| - Freehold over 15 years on a straight line basis. |
| Plant and machinery etc - at varying rates, 25%on cost and 25% reducing balance. |
| Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. |
| Stocks and work in progress |
| Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| 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 statement of financial position date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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. |
| Horizon Home Improvements Limited (Registered number: 06129088) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31st March 2025 |
| 2. | ACCOUNTING POLICIES - continued |
| Hire purchase and leasing commitments |
| Fixed assets obtained under hire purchase contract 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 capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contact and represent a constant proportion of the balance of the capital repayments outstanding. |
| Rentals paid under operating leases are charged to the profit and loss account 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. | TANGIBLE FIXED ASSETS |
| Plant and |
| Land and | machinery |
| buildings | etc | Totals |
| £ | £ | £ |
| COST |
| At 1st April 2024 |
| Additions |
| Disposals | ( |
) | ( |
) | ( |
) |
| At 31st March 2025 |
| DEPRECIATION |
| At 1st April 2024 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) | ( |
) |
| At 31st March 2025 |
| NET BOOK VALUE |
| At 31st March 2025 |
| At 31st March 2024 |
| Horizon Home Improvements Limited (Registered number: 06129088) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31st March 2025 |
| 3. | TANGIBLE FIXED ASSETS - continued |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| At 1st April 2024 |
| Transfer to ownership | (138,329 | ) |
| At 31st March 2025 |
| DEPRECIATION |
| At 1st April 2024 |
| Charge for year |
| Transfer to ownership | (79,981 | ) |
| At 31st March 2025 |
| NET BOOK VALUE |
| At 31st March 2025 |
| At 31st March 2024 |
| 4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts (see note 7) |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Bank loans |
| Hire purchase contracts (see note 7) |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more 5 yr by instal | - | 223,403 |
| Horizon Home Improvements Limited (Registered number: 06129088) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31st March 2025 |
| 7. | LEASING AGREEMENTS |
| Minimum lease payments fall due as follows: |
| Hire purchase |
| contracts |
| 2025 | 2024 |
| £ | £ |
| Net obligations repayable: |
| Within one year |
| Between one and five years |
| Non-cancellable |
| operating leases |
| 2025 | 2024 |
| £ | £ |
| Within one year |
| Between one and five years |
| In more than five years |
| 8. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2025 | 2024 |
| £ | £ |
| Bank loans | - | 349,775 |
| Natwest and Lloyds have fixed and floating charges over all of the company assets in order to secure bank loans. |
| 9. | RELATED PARTY DISCLOSURES |
| During the year, payments totalling £37,186 were paid by the company on behalf of Mrs K Jones, wife to the director. This leaves a balance owed to Mrs Jones by the company of £21,271 as at 31st March 2025. |
| The Director of the Company was also a director of Galvayne Holdings Limited during the year. At the year end, other debtors includes an inter-company balance of £820 owed to the Company. |
| The Director of the Company was also a director of Galvayne Properties Limited during the year. During the year, the property owned by Horizon Home Improvements was transferred to the Company at the accounts net book value of £925,338. At the year end, debtors include an inter-company balance of £569,129 owed to the Company. |