Company Registration No. SC394799 (Scotland)
Horizons Research Ltd
Unaudited accounts
for the year ended 31 March 2021
Horizons Research Ltd
Unaudited accounts
Contents
Horizons Research Ltd
Company Information
for the year ended 31 March 2021
Company Number
SC394799 (Scotland)
Registered Office
22 Montrose Street
Glasgow
G1 1RE
Accountants
Aird Sakol Ltd
8 Benview Road
Clarkston Toll
Glasgow
G76 7PP
Horizons Research Ltd
Statement of financial position
as at
31 March 2021
Tangible assets
3,490
1,338
Cash at bank and in hand
9,765
(7,205)
Creditors: amounts falling due within one year
(36,581)
(14,463)
Net current (liabilities)/assets
(6,014)
472
Net (liabilities)/assets
(2,524)
1,810
Called up share capital
1,000
1,000
Profit and loss account
(3,524)
810
Shareholders' funds
(2,524)
1,810
For the year ending 31 March 2021 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 11 October 2021 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 2021
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 2020
4,109
702
4,811
At 31 March 2021
7,378
702
8,080
At 1 April 2020
3,112
361
3,473
Charge for the year
1,066
51
1,117
At 31 March 2021
4,178
412
4,590
At 31 March 2021
3,200
290
3,490
At 31 March 2020
997
341
1,338
Horizons Research Ltd
Notes to the Accounts
for the year ended 31 March 2021
5
Debtors: amounts falling due within one year
2021
2020
Trade debtors
14,764
16,200
Accrued income and prepayments
591
493
Other debtors
5,447
5,447
6
Creditors: amounts falling due within one year
2021
2020
Bank loans and overdrafts
30,000
-
Taxes and social security
21,958
30,426
Loans from directors
(16,277)
(16,763)
7
Share capital
2021
2020
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 (2020: 1).