Horizon Counselling Ltd Accounts


Horizon Counselling Ltd Filleted Accounts Cover
Horizon Counselling Ltd
Company No. 10836169
Information for Filing with The Registrar
30 June 2020
Horizon Counselling Ltd Balance Sheet Registrar
at
30 June 2020
Company No.
10836169
Notes
2020
2019
£
£
Fixed assets
Tangible assets
4
8,5862,805
8,5862,805
Current assets
Debtors
5
2,768-
Cash at bank and in hand
23,93421,093
26,70221,093
Creditors: Amount falling due within one year
6
(18,809)
(16,361)
Net current assets
7,8934,732
Total assets less current liabilities
16,4797,537
Creditors: Amounts falling due after more than one year
7
(12,000)
(929)
Provisions for liabilities
Deferred taxation
8
(1,631)
(533)
Net assets
2,8486,075
Capital and reserves
Called up share capital
11
Profit and loss account
9
2,8476,074
Total equity
2,8486,075
These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
For the year ended 30 June 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 directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.
Approved by the board on 17 August 2020
And signed on its behalf by:
A. Stokes
Director
17 August 2020
Horizon Counselling Ltd Notes to the Accounts Registrar
for the year ended 30 June 2020
1
General information
Its registered number is: 10836169
Its registered office is:
3 The Crescent
Devon
PL1 3AB
The functional and presentational currency of the company is Sterling. The accounts are rounded to the nearest pound.
The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland (March 2018) and the Companies Act 2006. The March 2018 edition of FRS 102 includes amendments arising from the Financial Reporting Council's triennial review of the standard. There is no material effect on the amounts recognised in these financial statements as a result of early adopting these amendments.
2
Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Revenue from the sale of goods is recognised when all the following conditions are satisfied:
• the Company has transferred to the buyer the significant risks and rewards of ownership of the
goods;
• the Company retains neither continuing managerial involvement to the degree usually associated
with ownership nor effective control over the goods sold;
• the amount of revenue can be measured reliably;
• it is probable that the economic benefits associated with the transaction will flow to the Company;
and
• the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.
Tangible fixed assets and depreciation
Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.
Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:
Plant and machinery
33% straight line
Furniture, fittings and equipment
25% reducing balance
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Defined contribution pensions
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations.
The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.
Provisions
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the balance sheet.
3
Employees
2020
2019
Number
Number
The average number of persons employed during the year :
21
4
Tangible fixed assets
Plant and machinery
Fixtures, fittings and equipment
Total
£
£
£
Cost or revaluation
At 1 July 2019
1,1492,8524,001
Additions
-7,1427,142
At 30 June 2020
1,1499,99411,143
Depreciation
At 1 July 2019
5076891,196
Charge for the year
3799821,361
At 30 June 2020
8861,6712,557
Net book values
At 30 June 2020
2638,3238,586
At 30 June 2019
6422,1632,805
5
Debtors
2020
2019
£
£
Other debtors
2,768-
2,768-
6
Creditors:
amounts falling due within one year
2020
2019
£
£
Bank loans and overdrafts
-2,955
Corporation tax
1,6322,299
Other taxes and social security
861-
Loans from directors
16,09511,107
Other creditors
221-
18,80916,361
7
Creditors:
amounts falling due after more than one year
2020
2019
£
£
Bank loans and overdrafts
12,000929
12,000929
8
Provisions for liabilities
Deferred taxation
Accelerated Capital Allowances, Losses and Other Timing Differences
Total
£
£
At 1 July 2019
533
533
Charge to the profit and loss account for the period
1,098
1,098
At 30 June 2020
1,631
1,631
2020
2019
£
£
Accelerated capital allowances
1,631533
1,631533
9
Reserves
Profit and loss account - includes all current and prior period retained profits and losses.
10
Dividends
2020
2019
£
£
Dividends for the period:
Dividends paid in the period
14,868
5,426
14,868
5,426
Dividends by type:
Equity dividends
14,8685,426
14,868
5,426
11
Related party disclosures
2020
2019
Transactions with related parties
£
£
Name of related party
A. Stokes
Description of relationship between the parties
Director
Description of transaction and general amounts involved
Directors loan account
Amount due from/(to) the related party
(16,095)
(11,107)
Provision for doubtful debts due from the related party
-
-
Amounts written off in the period in respect of debts from/(to) the related party
-
-
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