Horwood International Limited - Period Ending 2015-06-30

Registration number: 2741400

Horwood International Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 June 2015
 

Crowcroft & Crowcroft
12 The Drove
Horton Heath
Eastleigh
HAMPSHIRE
SO50 7NW

Horwood International Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Horwood International Limited
(Registration number: 2741400)
Abbreviated Balance Sheet at 30 June 2015

		Note			2015 £			2014 £
Fixed assets
Intangible fixed assets					703			1,703
Tangible fixed assets					1,985			2,978
					2,688			4,681
Current assets
Debtors					-			3,236
Creditors: Amounts falling due within one year					(25,856)			(29,092)
Net current liabilities					(25,856)			(25,856)
Net liabilities					(23,168)			(21,175)
Capital and reserves
Called up share capital		3			75,000			75,000
Profit and loss account					(98,168)			(96,175)
Shareholders' deficit					(23,168)			(21,175)

For the year ending 30 June 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the director on 21 September 2015

.........................................
Mr N Warn
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Horwood International Limited
Notes to the Abbreviated Accounts for the Year Ended 30 June 2015
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Going concern

The company is currently funding its working capital requirements through a bank overdraft facility (which is repayable on demand and guaranteed by the director) and a loan provided by its holding company. The company's director has agreed (subject to the absence of unforeseen circumstances) to provide such financial support as the company reasonably requires to enable it to meet its liabilities as and when they fall due, for a period of not less than one year from the approval date of these financial statements. In light of the above, the director considers it appropriate to prepare these financial statements on a going concern basis and therefore the financial statements do not include any adjustment that might result if the company ceases to be a going concern.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

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

Asset class	Amortisation method and rate
Intellectual property	20 years straight line

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Fixtures and fittings	20% reducing balance

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

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Horwood International Limited
Notes to the Abbreviated Accounts for the Year Ended 30 June 2015
......... continued

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 July 2014		19,953			83,543			103,496
At 30 June 2015		19,953			83,543			103,496
Depreciation
At 1 July 2014		18,250			80,565			98,815
Charge for the year		1,000			993			1,993
At 30 June 2015		19,250			81,558			100,808
Net book value
At 30 June 2015		703			1,985			2,688
At 30 June 2014		1,703			2,978			4,681

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary Shares of £1 each		75,000			75,000			75,000			75,000

4

Control

The company is controlled by Keypath Limited. The Company's ultimate holding company is Keypath Limited, a company incorporated in England.

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