Horizon Consulting Engineers Limited 30/09/2020 iXBRL

Horizon Consulting Engineers Limited 30/09/2020 iXBRL

HORIZON CONSULTING ENGINEERS LIMITED - Company Information

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30/09/2020 2020-09-30 false false false false false false false false false false true false false true false false false false false false false false No description of principal activities is disclosed 2019-10-01 Sage Accounts Production 2020 Update 1 - FRS102_2014 xbrli:pure xbrli:shares iso4217:GBP 08219154 2019-10-01 2020-09-30 08219154 2020-09-30 08219154 2019-09-30 08219154 2018-10-01 2019-09-30 08219154 2019-09-30 08219154 core:LandBuildings core:ShortLeaseholdAssets 2019-10-01 2020-09-30 08219154 core:PlantMachinery 2019-10-01 2020-09-30 08219154 core:MotorVehicles 2019-10-01 2020-09-30 08219154 bus:Director1 2019-10-01 2020-09-30 08219154 core:WithinOneYear 2020-09-30 08219154 core:WithinOneYear 2019-09-30 08219154 core:LandBuildings core:ShortLeaseholdAssets 2019-09-30 08219154 core:PlantMachinery 2019-09-30 08219154 core:MotorVehicles 2019-09-30 08219154 core:LandBuildings core:ShortLeaseholdAssets 2020-09-30 08219154 core:PlantMachinery 2020-09-30 08219154 core:MotorVehicles 2020-09-30 08219154 core:ShareCapital 2020-09-30 08219154 core:ShareCapital 2019-09-30 08219154 core:SharePremium 2020-09-30 08219154 core:SharePremium 2019-09-30 08219154 core:RetainedEarningsAccumulatedLosses 2020-09-30 08219154 core:RetainedEarningsAccumulatedLosses 2019-09-30 08219154 core:LandBuildings core:ShortLeaseholdAssets 2019-09-30 08219154 core:PlantMachinery 2019-09-30 08219154 core:MotorVehicles 2019-09-30 08219154 bus:Director1 2019-09-30 08219154 bus:Director1 2020-09-30 08219154 bus:Director1 2018-09-30 08219154 bus:Director1 2019-09-30 08219154 bus:Director1 2018-10-01 2019-09-30 08219154 bus:SmallEntities 2019-10-01 2020-09-30 08219154 bus:AuditExemptWithAccountantsReport 2019-10-01 2020-09-30 08219154 bus:FullAccounts 2019-10-01 2020-09-30 08219154 bus:SmallCompaniesRegimeForAccounts 2019-10-01 2020-09-30 08219154 bus:PrivateLimitedCompanyLtd 2019-10-01 2020-09-30
Company registration number: 08219154
Horizon Consulting Engineers Limited
Unaudited filleted financial statements
30 September 2020
HORIZON CONSULTING ENGINEERS LIMITED
Contents
Statement of financial position
Notes to the financial statements
HORIZON CONSULTING ENGINEERS LIMITED
STATEMENT OF FINANCIAL POSITION
30 SEPTEMBER 2020
2020 2019
Note £ £ £ £
Fixed assets
Tangible assets 5 21,804 24,390
_______ _______
21,804 24,390
Current assets
Stocks 8,624 11,427
Debtors 6 51,796 71,323
Cash at bank and in hand 21,093 5,890
_______ _______
81,513 88,640
Creditors: amounts falling due
within one year 7 ( 87,395) ( 71,210)
_______ _______
Net current (liabilities)/assets ( 5,882) 17,430
_______ _______
Total assets less current liabilities 15,922 41,820
Provisions for liabilities ( 1,353) ( 1,518)
_______ _______
Net assets 14,569 40,302
_______ _______
Capital and reserves
Called up share capital 150 150
Share premium account 8 9,950 9,950
Profit and loss account 8 4,469 30,202
_______ _______
Shareholders funds 14,569 40,302
_______ _______
For the year ending 30 September 2020 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 financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act 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 and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 07 June 2021 , and are signed on behalf of the board by:
Mr J Tamblyn
Director
Company registration number: 08219154
HORIZON CONSULTING ENGINEERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 SEPTEMBER 2020
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is 26 - 28 Southernhay East, Exeter, Devon, EX1 1NS.
Principal activity
The principal activity of the company is to provide engineering consultancy services.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.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 taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and 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 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.
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 fixed assets are stated at cost less 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:
Short leasehold property - 10 % straight line
Plant and machinery - 25 % reducing balance
Motor vehicles - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
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. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Work in progress is valued at net realisable value based on the percentage of completion at the period end.
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.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a 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.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period the payment is made.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 5 (2019: 4 ).
5. Tangible assets
Short leasehold property Plant and machinery Motor vehicles Total
£ £ £ £
Cost
At 1 October 2019 3,829 41,553 11,001 56,383
Additions - 4,565 - 4,565
_______ _______ _______ _______
At 30 September 2020 3,829 46,118 11,001 60,948
_______ _______ _______ _______
Depreciation
At 1 October 2019 1,915 25,265 4,813 31,993
Charge for the year 383 5,221 1,547 7,151
_______ _______ _______ _______
At 30 September 2020 2,298 30,486 6,360 39,144
_______ _______ _______ _______
Carrying amount
At 30 September 2020 1,531 15,632 4,641 21,804
_______ _______ _______ _______
At 30 September 2019 1,914 16,288 6,188 24,390
_______ _______ _______ _______
6. Debtors
2020 2019
£ £
Trade debtors 41,644 64,492
Other debtors 10,152 6,831
_______ _______
51,796 71,323
_______ _______
7. Creditors: amounts falling due within one year
2020 2019
£ £
Trade creditors 16,178 7,558
Accruals and deferred income 2,494 2,260
Social security and other taxes 44,052 35,869
Other creditors 24,671 25,523
_______ _______
87,395 71,210
_______ _______
8. Reserves
Profit and loss account:This reserve records retained earnings and accumulated losses.
9. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
Loans to / (from) directors at 1 October 2019 Loans to / (from) the directors Amounts repaid Balance at 30 September 2020
£ £ £ £
Director ( 25,172) - 1,044 ( 24,128)
_______ _______ _______ _______
Loans to / (from) directors at 1 October 2018 Loans to / (from) the directors Amounts repaid Balance at 30 September 2019
£ £ £ £
Director ( 128) ( 25,044) - ( 25,172)
_______ _______ _______ _______