Abbreviated Company Accounts - GROUP HORIZON LIMITED

GROUP HORIZON LIMITED - Company Information

06591612 GROUP HORIZON LIMITED 2014-07-31 false 2013-08-01 2014-07-31 true 06591612 2013-08-01 2014-07-31 06591612 2014-07-31 06591612 2013-07-31 06591612 uk-gaap-cd-bus:Director1 2013-08-01 2014-07-31 06591612 uk-gaap-cd-bus:Director2 2013-08-01 2014-07-31 uk-gaap-cd-bus:OrdinaryShareClass1 2013-08-01 2014-07-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-07-31 uk-gaap-cd-bus:OrdinaryShareClass1 2013-07-31 uk-gaap-cd-bus:OrdinaryShareClass2 2013-08-01 2014-07-31 uk-gaap-cd-bus:OrdinaryShareClass2 2014-07-31 uk-gaap-cd-bus:OrdinaryShareClass2 2013-07-31 iso4217:GBP shares

Registered Number 06591612

GROUP HORIZON LIMITED

Abbreviated Accounts

31 July 2014

GROUP HORIZON LIMITED Registered Number 06591612

Abbreviated Balance Sheet as at 31 July 2014

	Notes	2014	2013
		£	£
Fixed assets
Intangible assets	2	898	8,750
Tangible assets	3	82,523	80,856
Investments	4	10	10
		83,431	89,616
Current assets
Debtors		674,676	609,754
Cash at bank and in hand		929	6,944
		675,605	616,698
Prepayments and accrued income		103,800	19,898
Creditors: amounts falling due within one year		(703,176)	(666,697)
Net current assets (liabilities)		76,229	(30,101)
Total assets less current liabilities		159,660	59,515
Creditors: amounts falling due after more than one year		(135,461)	(107,922)
Provisions for liabilities		(11,380)	(11,799)
Accruals and deferred income		(26,046)	(118,542)
Total net assets (liabilities)		(13,227)	(178,748)
Capital and reserves
Called up share capital	5	37,142	37,142
Profit and loss account		(50,369)	(215,890)
Shareholders' funds		(13,227)	(178,748)

For the year ending 31 July 2014 the company was entitled to exemption 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 Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 10 September 2014

And signed on their behalf by:
Peter Behan, Director

GROUP HORIZON LIMITED Registered Number 06591612

Notes to the Abbreviated Accounts for the period ended 31 July 2014

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover comprises tuition fees invoiced during the year, exclusive of value added tax.

Tangible assets depreciation policy
Fixed Assets And Depreciation
Depreciation is provided to write off the cost less the estimated residual value of fixed assets by instalments over their estimated useful economic lives as follows:
Leasehold Premises - Length of lease
Plant & Machinery - 15% reducing balance
Fixtures & Fittings - 25% straight line
Office Equipment - 25% straight line
Computer Equipment - 33.33% straight line

Intangible assets amortisation policy
Fixed Assets And Depreciation
Depreciation is provided to write off the cost less the estimated residual value of fixed assets by instalments over their estimated useful economic lives as follows:
Goodwill - Three years
Website - Five years

Other accounting policies
Going Concern
As highlighted in the profit and loss account and balance sheet the company made a profit before tax of £226,945 and had net current assets of £50,183 as at 31 July 2014. The company’s forecasts and projections, taking into account reasonably possible changes in trading performance, demonstrate that the company will be able to operate without seeking any additional funding for the foreseeable future.

After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly the directors continue to adopt the going concern basis in preparing the annual report and accounts.
Investments
Investments in subsidiary undertakings are stated at cost less any provision for impairment.

Leases
Operating lease rentals are charged to the profit and loss account on a straight line basis over the period of the lease.

Taxation
Current tax, including UK corporation tax and foreign tax, is provided at amounts expected to be paid (or recovered) using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Deferred taxation is provided using the liability method on all timing differences which are expected to reverse in the future without being replaced, calculated at the rate at which it is anticipated the timing differences will reverse.

2Intangible fixed assets

	£
Cost
At 1 August 2013	31,777
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 July 2014	31,777
Amortisation
At 1 August 2013	23,027
Charge for the year	7,852
On disposals	-
At 31 July 2014	30,879
Net book values
At 31 July 2014	898
At 31 July 2013	8,750

3Tangible fixed assets

	£
Cost
At 1 August 2013	110,333
Additions	35,053
Disposals	-
Revaluations	-
Transfers	-
At 31 July 2014	145,386
Depreciation
At 1 August 2013	29,477
Charge for the year	33,386
On disposals	-
At 31 July 2014	62,863
Net book values
At 31 July 2014	82,523
At 31 July 2013	80,856

4Fixed assets Investments
The undertakings in which the company’s interest at the year-end is more than 20% are as follows:

Subsidiary Undertaking Country of incorporation Principal activity Class and percentage of shares held

PBS Training Limited England Non-trading 100%

5Called Up Share Capital
Allotted, called up and fully paid:

	2014 £	2013 £
18,571 A Ordinary shares of £1 each	18,571	18,571
18,571 Ordinary shares of £1 each	18,571	18,571