Horizon Mind Limited - Period Ending 2017-12-31

Registration number: 10523972

Horizon Mind Limited

Annual Report and Unaudited Financial Statements

for the Period ended 31 December 2017

Chartered Accountants

Horizon Mind Limited

Contents

Company Information	1
Accountants' Report	2
Balance Sheet	3
Notes to the Financial Statements	4 to 5

Horizon Mind Limited

Company Information

Directors

Mr P Saebi Mrs R Saebi

Registered office

Unity Chambers 34 High East Street Dorchester Dorset DT1 1HA

Accountants

Edwards & Keeping Unity Chambers 34 High East Street Dorchester Dorset DT1 1HA

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Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Horizon Mind Limited
for the Period Ended 31 December 2017

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Horizon Mind Limited for the period ended 31 December 2017 as set out on pages 3 to 5 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/en/members/regulations-standards-and-guidance/.

This report is made solely to the Board of Directors of Horizon Mind Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Horizon Mind Limited and state those matters that we have agreed to state to the Board of Directors of Horizon Mind Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Horizon Mind Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Horizon Mind Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Horizon Mind Limited. You consider that Horizon Mind Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the accounts of Horizon Mind Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

Edwards & Keeping
Unity Chambers
34 High East Street
Dorchester
Dorset
DT1 1HA

5 September 2018

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Horizon Mind Limited

(Registration number: 10523972)
Balance Sheet as at 31 December 2017

	Note	31 December 2017
		£	£
Fixed assets
Intangible assets	4		1,612
Creditors: Amounts falling due within one year	5		(8,501)
Net liabilities			(6,889)
Capital and reserves
Called up share capital		100
Profit and loss account		(6,989)
Total equity			(6,889)

For the financial period ending 31 December 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised for issue by the Board on 4 September 2018 and signed on its behalf by:
 

Mr P Saebi Director

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Horizon Mind Limited

Notes to the Financial Statements
for the Period from 13 December 2016 to 31 December 2017

1	General information

The company is a private company limited by share capital incorporated in England and Wales.

The address of its registered office is:
Unity Chambers
34 High East Street
Dorchester
Dorset
DT1 1HA
United Kingdom

The principal place of business is:
16 King William Close
Chichester
West Sussex
PO19 6EF

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Software development	Not applicable - intangible asset not yet available for use

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3	Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2.

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Horizon Mind Limited

Notes to the Financial Statements
for the Period from 13 December 2016 to 31 December 2017

4	Intangible assets

	Internally generated software development costs  £	Total £
Cost or valuation
Additions internally developed	1,612	1,612
At 31 December 2017	1,612	1,612
Amortisation
Carrying amount
At 31 December 2017	1,612	1,612

The aggregate amount of research and development expenditure recognised as an expense during the period is £6,294.
 

5

Creditors

	Note	2017 £
Due within one year
Amounts owed to group undertakings and undertakings in which the company has a participating interest		7,901
Other creditors		600
		8,501

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