Company Registration No. SC394799 (Scotland)
Horizons Research Ltd
Unaudited accounts
for the year ended 31 March 2020
Horizons Research Ltd
Statement of financial position
as at
31 March 2020
Tangible assets
1,338
1,730
Cash at bank and in hand
(7,205)
(9,181)
Creditors: amounts falling due within one year
(14,463)
(3,482)
Net current assets/(liabilities)
472
(1,666)
Called up share capital
1,000
1,000
Profit and loss account
810
(936)
Shareholders' funds
1,810
64
For the year ending 31 March 2020 the company was entitled to exemption from audit 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 and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 4 November 2020 and were signed on its behalf by
R Rae
Director
Company Registration No. SC394799
Horizons Research Ltd
Notes to the Accounts
for the year ended 31 March 2020
Horizons Research Ltd is a private company, limited by shares, registered in Scotland, registration number SC394799. The registered office is 22 Montrose Street, Glasgow, G1 1RE.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
15% reducing balance
Fixtures & fittings
15% reducing balance
4
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 April 2019
4,109
702
4,811
At 31 March 2020
4,109
702
4,811
At 1 April 2019
2,780
301
3,081
Charge for the year
332
60
392
At 31 March 2020
3,112
361
3,473
At 31 March 2020
997
341
1,338
At 31 March 2019
1,329
401
1,730
Trade debtors
16,200
10,500
Accrued income and prepayments
493
497
Horizons Research Ltd
Notes to the Accounts
for the year ended 31 March 2020
6
Creditors: amounts falling due within one year
2020
2019
Taxes and social security
30,426
16,513
Loans from directors
(16,763)
(14,080)
7
Share capital
2020
2019
Allotted, called up and fully paid:
1,000 Ordinary shares of £1 each
1,000
1,000
8
Average number of employees
During the year the average number of employees was 1 (2019: 1).