Horizon Specialist Contracting Limited - Period Ending 2016-11-30

Registration number: 02827337

Horizon Specialist Contracting Limited
 
 Unaudited Abbreviated Accounts
 
 for the Period from 1 June 2015 to 30 November 2016

 

Horizon Specialist Contracting Limited
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 6

Horizon Specialist Contracting Limited
(Registration number: 02827337)
Abbreviated Balance Sheet at 30 November 2016

		Note			30 November 2016 £			31 May 2015 £
Fixed assets
Tangible fixed assets		2			272,024			158,582
Investments		2			2			2
					272,026			158,584
Current assets
Debtors					807,052			590,775
Cash at bank and in hand					308,187			403,462
					1,115,239			994,237
Creditors: Amounts falling due within one year		3			(597,126)			(509,703)
Net current assets					518,113			484,534
Total assets less current liabilities					790,139			643,118
Creditors: Amounts falling due after more than one year		3			(54,878)			(5,727)
Provisions for liabilities					(38,048)			(26,721)
Net assets					697,213			610,670
Capital and reserves
Called up share capital		4			10,000			10,000
Profit and loss account					687,213			600,670
Shareholders' funds					697,213			610,670

The notes on pages 3 to 6 form an integral part of these financial statements.
Page 1

Horizon Specialist Contracting Limited
(Registration number: 02827337)
Abbreviated Balance Sheet at 30 November 2016
......... continued

For the year ending 30 November 2016 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 13 February 2017

.........................................
J K Burns
Director

The notes on pages 3 to 6 form an integral part of these financial statements.
Page 2

Horizon Specialist Contracting Limited
Notes to the Abbreviated Accounts for the Period from 1 June 2015 to 30 November 2016
......... 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 January 2015).

Exemption from preparing group accounts

The company is part of a small group. The company has taken advantage of the exemption provided by Section 398 of the Companies Act 2006 and has not prepared group accounts.

Turnover

Turnover represents the total invoice value, excluding value added tax, of sales made during the year. Income is recognised based on the date goods are despatched and the level of completion of services.

Depreciation

Tangible fixed assets are initially recorded at cost. Depreciation is provided on tangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Plant and machinery	20% straight line basis
Fixtures, fittings and equipment	20% or 33.33% straight line basis
Motor vehicles	25% straight line basis

Fixed asset investments

Fixed asset investments are stated at historical cost less provision for any diminution in value.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Page 3

Horizon Specialist Contracting Limited
Notes to the Abbreviated Accounts for the Period from 1 June 2015 to 30 November 2016
......... continued

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

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Horizon Specialist Contracting Limited
Notes to the Abbreviated Accounts for the Period from 1 June 2015 to 30 November 2016
......... continued

2	Fixed assets

		Tangible assets £			Investments £			Total £
Cost
At 1 June 2015		491,009			2			491,011
Additions		284,479			-			284,479
Disposals		(139,630)			-			(139,630)
At 30 November 2016		635,858			2			635,860
Depreciation
At 1 June 2015		332,427			-			332,427
Charge for the period		139,537			-			139,537
Eliminated on disposals		(108,130)			-			(108,130)
At 30 November 2016		363,834			-			363,834
Net book value
At 30 November 2016		272,024			2			272,026
At 31 May 2015		158,582			2			158,584

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking		Holding	Proportion of voting rights and shares held	Principal activity
Subsidiary undertakings
Horizon Coatings Limited		Ordinary	100%	Dormant
Hy-safe Systems Limited		Ordinary	100%	Dormant

Page 5

Horizon Specialist Contracting Limited
Notes to the Abbreviated Accounts for the Period from 1 June 2015 to 30 November 2016
......... continued

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		30 November 2016 £			31 May 2015 £
Amounts falling due within one year		88,110			32,088
Amounts falling due after more than one year		54,878			5,727
Total secured creditors		142,988			37,815

4	Share capital

Allotted, called up and fully paid shares

	30 November 2016						31 May 2015
		No.			£			No.			£
Ordinary shares of £ 1 each		10,000			10,000			10,000			10,000

5

Control

The company is controlled by Roeburn Holdings Limited, the parent company.

Page 6