David Horn Communications Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01916932 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2018

FOR

DAVID HORN COMMUNICATIONS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr D Horn

Mrs M J Horn

Mr J D Horn

Mr S R Horn

SECRETARY:

Mrs M J Horn

REGISTERED OFFICE:

22 Ringwood Road

Luton

Bedfordshire

LU2 7BG

BUSINESS ADDRESS:

Unit F2, Bramingham Business Park

Enterprise Way

Luton

Bedfordshire

LU3 4BU

REGISTERED NUMBER:

01916932 (England and Wales)

ACCOUNTANTS:

Foxley Kingham

Chartered Accountants

Prospero House

46-48 Rothesay Road

Luton

Bedfordshire

LU1 1QZ

FIXED ASSETS

Tangible assets

4

53,093

20,699

CURRENT ASSETS

Stocks

90,261

135,594

Debtors

5

447,735

599,884

Cash at bank and in hand

1,050,731

1,181,050

1,588,727

1,916,528

CREDITORS

Amounts falling due within one year

6

636,322

664,378

NET CURRENT ASSETS

952,405

1,252,150

TOTAL ASSETS LESS CURRENT LIABILITIES

1,005,498

1,272,849

CAPITAL AND RESERVES

Called up share capital

8

1,100

1,100

Retained earnings

1,004,398

1,271,749

SHAREHOLDERS' FUNDS

1,005,498

1,272,849

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2018 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 5 December 2018 and were signed on its behalf by:

Mr D Horn - Director

1.	STATUTORY INFORMATION

David Horn Communications Limited is a private company, limited by shares , registered in England and Wales.

The 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

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on cost

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet 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

balance sheet 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.

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 18 (2017 - 22 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 July 2017

112,454

70,811

90,708

129,317

403,290

Additions

-

-

46,829

4,572

51,401

At 30 June 2018

112,454

70,811

137,537

133,889

454,691

DEPRECIATION

At 1 July 2017

103,525

67,741

87,645

123,680

382,591

Charge for year

1,339

461

12,473

4,734

19,007

At 30 June 2018

104,864

68,202

100,118

128,414

401,598

NET BOOK VALUE

At 30 June 2018

7,590

2,609

37,419

5,475

53,093

At 30 June 2017

8,929

3,070

3,063

5,637

20,699

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

239,297

437,331

Other debtors

140,783

121,390

Tax

29,449

1,169

Prepayments and accrued income

38,206

39,994

447,735

599,884

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

81,807

160,821

Other creditors

201,822

145,019

Maintenance provision

135,811

130,059

Warranty provision

70,319

74,474

Directors' loan accounts

1,943

1,678

Accrued expenses & deferred income

144,620

152,327

636,322

664,378

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2018

2017

£

£

Within one year

76,725

76,725

Between one and five years

153,450

230,175

230,175

306,900

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

1,000

Ordinary

£1

1,000

1,000

100

Ordinary 'A'

£1

100

100

1,100

1,100

The ordinary 'A' shares hold no voting rights, but in all other aspects rank pari passu with the ordinary shares of

the company.

9.	ULTIMATE CONTROLLING PARTY

The company is controlled by the directors, Mr D Horn and Mrs M Horn, who between them hold 66.6% of the

issued voting share capital.