Horizon Research & Consulting Ltd - Period Ending 2013-12-31

Registration number: 06297406

Horizon Research & Consulting Ltd

Unaudited Abbreviated Accounts

for the Year Ended 31 December 2013
 

Paul Austen Associates
Chartered Accountants
Charter House
7-9 Wagg Street
Congleton
Congleton
Cheshire
CW12 4BA

Horizon Research & Consulting Ltd
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Horizon Research & Consulting Ltd
for the Year Ended 31 December 2013

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Horizon Research & Consulting Ltd for the year ended 31 December 2013 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Horizon Research & Consulting Ltd, as a body, in accordance with the terms of our engagement letterdated 17 July 2008. Our work has been undertaken solely to prepare for your approval the accounts of Horizon Research & Consulting Ltd and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Horizon Research & Consulting Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Horizon Research & Consulting Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Horizon Research & Consulting Ltd. You consider that Horizon Research & Consulting Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Horizon Research & Consulting Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Paul Austen Associates
Chartered Accountants
Charter House
7-9 Wagg Street
Congleton
Congleton
Cheshire
CW12 4BA

25 September 2014

Page 1

Horizon Research & Consulting Ltd
(Registration number: 06297406)
Abbreviated Balance Sheet at 31 December 2013

		Note			2013 £			2012 £
Fixed assets
Tangible fixed assets					71			95
Current assets
Debtors					501,513			377,195
Cash at bank and in hand					352,749			447,127
					854,262			824,322
Creditors: Amounts falling due within one year					(509,405)			(559,357)
Net current assets					344,857			264,965
Net assets					344,928			265,060
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					344,828			264,960
Shareholders' funds					344,928			265,060

For the year ending 31 December 2013 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 directors acknowledge their 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 Board on 25 September 2014 and signed on its behalf by:

.........................................
Mr James Crossland
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Horizon Research & Consulting Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 December 2013
......... 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).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

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
Plant and machinery	25% reducing balance basis

Foreign currency

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

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.

Page 3

Horizon Research & Consulting Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 December 2013
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 January 2013		300			300
At 31 December 2013		300			300
Depreciation
At 1 January 2013		205			205
Charge for the year		24			24
At 31 December 2013		229			229
Net book value
At 31 December 2013		71			71
At 31 December 2012		95			95

3	Share capital

Allotted, called up and fully paid shares

	2013						2012
		No.			£			No.			£
Ordinary shares of £1 each		100			100			100			100

4	Related party transactions

Directors' advances and credits

	2013 Advance/ Credit £	2013 Repaid £	2012 Advance/ Credit £	2012 Repaid £
Mr James Crossland
Amounts loaned from director	12,272	-	12,272	-
Mr Richard Trenholm
Amounts loaned from director	12,194	-	12,194	-

Page 4