Horizonscan Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 08062540 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MAY 2016

FOR

HORIZONSCAN LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

R J Timpson

Mrs U Timpson

REGISTERED OFFICE:

Innovation House

Innovation Way

Discovery Park

SANDWICH

Kent

CT13 9FF

REGISTERED NUMBER:

08062540 (England and Wales)

ACCOUNTANTS:

McCabe Ford Williams

Chartered Accountants

2 The Links

HERNE BAY

Kent

CT6 7GQ

FIXED ASSETS

Tangible assets

2

28,745

10,271

CURRENT ASSETS

Debtors

183,518

62,286

Cash at bank and in hand

34,804

51,485

218,322

113,771

CREDITORS

Amounts falling due within one year

163,245

68,507

NET CURRENT ASSETS

55,077

45,264

TOTAL ASSETS LESS CURRENT LIABILITIES

83,822

55,535

CAPITAL AND RESERVES

Called up share capital

3

100

100

Profit and loss account

83,722

55,435

SHAREHOLDERS' FUNDS

83,822

55,535

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2016 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 1 November 2016 and were signed on its behalf by:

R J Timpson - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

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

Motor vehicles

-

20% on reducing balance

Computer equipment

-

25% on a straight line basis

Deferred tax

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

balance sheet date.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 June 2015

19,551

Additions

34,805

Disposals

(17,500

)

At 31 May 2016

36,856

DEPRECIATION

At 1 June 2015

9,280

Charge for year

7,371

Eliminated on disposal

(8,540

)

At 31 May 2016

8,111

NET BOOK VALUE

At 31 May 2016

28,745

At 31 May 2015

10,271

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

100

Ordinary

£1

100

100

4.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year, a dividend was paid to R J Timpson totalling £46,506

At the financial year end, a sum of £5,780 was owed by R J Timpson.