Horizon Instruments Limited - Accounts to registrar - small 17.2
Horizon Instruments Limited - Accounts to registrar - small 17.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2016 |
| FOR |
| HORIZON INSTRUMENTS LIMITED |
| HORIZON INSTRUMENTS LIMITED (REGISTERED NUMBER: 01822950) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2016 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 3 |
| HORIZON INSTRUMENTS LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 DECEMBER 2016 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 44 Springfield Road |
| Horsham |
| West Sussex |
| RH12 2PD |
| HORIZON INSTRUMENTS LIMITED (REGISTERED NUMBER: 01822950) |
| STATEMENT OF FINANCIAL POSITION |
| 31 DECEMBER 2016 |
| 2016 | 2015 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks | 5 |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital | 9 |
| Share premium | 10 |
| Retained earnings | 10 |
| SHAREHOLDERS' FUNDS |
| The directors acknowledge their 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. |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the Board of Directors on |
| HORIZON INSTRUMENTS LIMITED (REGISTERED NUMBER: 01822950) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2016 |
| 1. | STATUTORY INFORMATION |
| Horizon Instruments Limited is a |
| company's registered number and registered office address can be found on the Company Information page. |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
| value added tax and other sales taxes. |
| Tangible fixed assets |
| Plant & Machinery - 10%, 15% and 25% |
| Fixtures & Fittings - 15% |
| Motor Vehicles - 20% |
| Stocks |
| Stocks 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. |
| Research and development |
| Expenditure on research and development is written off in the year in which it is incurred. |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
| statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of |
| exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the |
| operating result. |
| HORIZON INSTRUMENTS LIMITED (REGISTERED NUMBER: 01822950) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2016 |
| 2. | ACCOUNTING POLICIES - continued |
| Hire purchase and leasing commitments |
| Assets obtained under hire purchase contracts 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 interest element of these obligations is charged to profit or loss over the relevant period. The capital element |
| of the future payments is treated as a liability. |
| Rentals paid under operating leases are charged to profit or loss 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. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Improvements | Fixtures |
| to | Plant and | and | Motor |
| property | machinery | fittings | vehicles | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1 January 2016 |
| Additions |
| Disposals | ( |
) | ( |
) | ( |
) |
| At 31 December 2016 |
| DEPRECIATION |
| At 1 January 2016 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 December 2016 |
| NET BOOK VALUE |
| At 31 December 2016 |
| At 31 December 2015 |
| HORIZON INSTRUMENTS LIMITED (REGISTERED NUMBER: 01822950) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2016 |
| 4. | TANGIBLE FIXED ASSETS - continued |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Motor |
| vehicles |
| £ |
| COST |
| At 1 January 2016 |
| Disposals | ( |
) |
| At 31 December 2016 |
| DEPRECIATION |
| At 1 January 2016 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 31 December 2016 |
| NET BOOK VALUE |
| At 31 December 2016 |
| At 31 December 2015 |
| 5. | STOCKS |
| 2016 | 2015 |
| £ | £ |
| Components |
| Work-in-progress |
| Payments on account | ( |
) |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2016 | 2015 |
| £ | £ |
| Trade debtors |
| Prepayments |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2016 | 2015 |
| £ | £ |
| Hire purchase contracts (see note 8) |
| Trade creditors |
| Amounts owed to group undertakings |
| Social security and other taxes |
| VAT | 33,081 | 9,008 |
| Directors' current accounts | 16,275 | 13,500 |
| Accruals and deferred income |
| HORIZON INSTRUMENTS LIMITED (REGISTERED NUMBER: 01822950) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2016 |
| 8. | LEASING AGREEMENTS |
| Minimum lease payments fall due as follows: |
| Hire purchase contracts |
| 2016 | 2015 |
| £ | £ |
| Net obligations repayable: |
| Within one year |
| Non-cancellable operating |
| leases |
| 2016 | 2015 |
| £ | £ |
| Within one year |
| Between one and five years |
| In more than five years |
| 9. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2016 | 2015 |
| value: | £ | £ |
| Ordinary | £1 | 10,354 | 10,354 |
| 10. | RESERVES |
| Retained | Share |
| earnings | premium | Totals |
| £ | £ | £ |
| At 1 January 2016 | 88,415 |
| Profit for the year |
| Dividends | ( |
) | ( |
) |
| At 31 December 2016 | 108,882 |
| 11. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| At the year end the company owed the director, N J Holman £16,275 (2015: £13,500). The loan is unsecured, |
| subject to 5% interest per annum, and amounted to £775 (2015: £Nil). |
| 12. | RELATED PARTY DISCLOSURES |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The |
| Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party |
| transactions with wholly owned subsidiaries within the group. |
| 13. | ULTIMATE CONTROLLING PARTY |
| The Alchemy Automation Group Limited is the ultimate parent company. |