Company Registration No. 07702070 (England and Wales)
HORIZON STEERING LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2015
HORIZON STEERING LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2
HORIZON STEERING LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 DECEMBER 2015
31 December 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
286
536
Current assets
Debtors
247
1,431
Cash at bank and in hand
11,007
25,189
11,254
26,620
Creditors: amounts falling due within one year
(5,378)
(26,401)
Net current assets
5,876
219
Total assets less current liabilities
6,162
755
Capital and reserves
Called up share capital
3
1
1
Profit and loss account
6,161
754
Shareholders' funds
6,162
755
For the financial year ended 31 December 2015 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 financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board and authorised for issue on 8 September 2016
Mr Lewis Edmondson
Director
Company Registration No. 07702070
HORIZON STEERING LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2015
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention.
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Fixtures, fittings & equipment
33% Straight line
1.5
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
2
Fixed assets
Tangible assets
£
Cost
At 1 January 2015 & at 31 December 2015
2,057
Depreciation
At 1 January 2015
1,521
Charge for the year
250
At 31 December 2015
1,771
Net book value
At 31 December 2015
286
At 31 December 2014
536
3
Share capital
2015
2014
£
£
Allotted, called up and fully paid
1 of £1 each
1
1