Horizon Counselling Ltd Accounts






Horizon Counselling Ltd

	Company No. 10836169
		Information for Filing with The Registrar
		30 June 2020

at	30 June 2020
Company No.		10836169	Notes	2020	2019
				£	£
Fixed assets

	Tangible assets		4	8,586	2,805


				8,586	2,805
Current assets

	Debtors		5	2,768	-

	Cash at bank and in hand			23,934	21,093
				26,702	21,093
Creditors: Amount falling due within one year			6	(18,809)	(16,361)
Net current assets				7,893	4,732
Total assets less current liabilities				16,479	7,537
Creditors: Amounts falling due after more than one year			7	(12,000)	(929)
Provisions for liabilities
	Deferred taxation		8	(1,631)	(533)

Net assets				2,848	6,075

Capital and reserves
	Called up share capital			1	1



	Profit and loss account		9	2,847	6,074

Total equity				2,848	6,075



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

for the year ended 30 June 2020

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.

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 :	2	1

4	Tangible fixed assets
			Plant and machinery	Fixtures, fittings and equipment	Total
			£	£	£
		Cost or revaluation
		At 1 July 2019	1,149	2,852	4,001
		Additions	-	7,142	7,142



		At 30 June 2020	1,149	9,994	11,143
		Depreciation
		At 1 July 2019	507	689	1,196
		Charge for the year	379	982	1,361



		At 30 June 2020	886	1,671	2,557
		Net book values
		At 30 June 2020	263	8,323	8,586
		At 30 June 2019	642	2,163	2,805

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	1,632	2,299
		Other taxes and social security	861	-
		Loans from directors	16,095	11,107
		Other creditors	221	-

			18,809	16,361

7	Creditors:
		amounts falling due after more than one year
			2020	2019
			£	£

		Bank loans and overdrafts	12,000	929






			12,000	929

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	1,631	533



			1,631	533

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	14,868	5,426
			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		-	-