Horizon Minerals (HZNM) 10-K 30 Mar 15 2014 FY Annual report Financial data

Document_and_Entity_Informatio

Document and Entity Information (USD $)	12 Months Ended
	Dec. 31, 2014	Jun. 30, 2014
Document and Entity Information:
Entity Registrant Name	HORIZON MINERALS CORP.
Document Type	10-K
Document Period End Date	31-Dec-14
Amendment Flag	FALSE
Entity Central Index Key	1526726
Current Fiscal Year End Date	-19
Entity Common Stock, Shares Outstanding	66,063,888
Entity Filer Category	Smaller Reporting Company
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Document Fiscal Year Focus	2014
Document Fiscal Period Focus	FY
Entity Public Float		$9,019,166

Balance_Sheets

Balance Sheets (USD $)	Dec. 31, 2014	Dec. 31, 2013
Current Assets:
Cash	$831
Prepaid expenses	176
Total current assets	1,007
Total Assets	1,007
Current Liabilities:
Accounts payable	35,145	10,975
Accrued liabilities	6,380	9,700
Due to related parties	5,172
Total current liabilities	46,697	20,675
Total Liabilities	46,697	20,675
Stockholders' Deficit
Common stock value	6,606	6,600
Additional paid-in capital	129,234	81,330
Deficit	-181,530	-108,605
Total stockholders' deficit	-45,690	-20,675
Total Liabilities and Stockholders' Deficit	$1,007

Balance_Sheets_Parenthetical

Balance Sheets (Parenthetical) (USD $)	Dec. 31, 2014	Dec. 31, 2013
Balance Sheet
Common stock, par value	$0.00	$0.00
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares issued	66,063,880	66,000,000
Common stock, shares outstanding	66,063,880	66,000,000

Statements_of_Operations

Statements of Operations (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Expenses:
Filing fees	$9,836	$2,400
General and administrative	30,552	9,181
Professional fees	32,175	20,630
Total expenses	72,563	32,211
Loss from operations	-72,563	-32,211
Other Items
Foreign currency transaction gain (loss)	-362	6
Total other items	-362	6
Net income (loss)	($72,925)	($32,205)
Loss per common share - basic and diluted	$0	$0
Weighted Average Number of Common Shares Outstanding - basic and diluted	66,025,380	66,000,000

Statement_of_Changes_in_Stockh

Statement of Changes in Stockholders' Equity (USD $)	Common Stock	Additional Paid-in Capital	Deficit	Totals
Beginning Balance, amount at Dec. 31, 2012	$6,600	$65,000	($76,400)	($4,800)
Beginning Balance, shares at Dec. 31, 2012	66,000,000
Donated capital		16,330		16,330
Net loss for the period			-32,205	-32,205
Ending Balance, amount at Dec. 31, 2013	6,600	81,330	-108,605	-20,675
Beginning Balance, shares at Dec. 31, 2013	66,000,000
Common stock issued for cash, shares	63,888
Common stock issued for cash, value	6	47,904		47,910
Net loss for the period			-72,925	-72,925
Ending Balance, amount at Dec. 31, 2014	$6,606	$129,234	($181,530)	($45,690)
Ending Balance, shares at Dec. 31, 2014	66,063,888

Statement_of_Cash_Flows

Statement of Cash Flows (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Operating Activities
Net income (loss)	($72,925)	($32,205)
Non cash items:
Donated capital		16,330
Changes in net assets and liabilities:
Prepaid expenses	-176
Accounts payable	24,170	10,175
Accrued liabilities	-3,320	5,700
Net cash used in operating activities	-52,251
Financing Activities
Proceeds from stock issued	47,910
Proceeds from related party loans	5,172
Net cash provided by financing activities	53,082
Net decrease in cash	831
Cash - ending of the period	831
Supplemental Disclosure of Cash Flow Information:
Interest paid
Income taxes paid

Organization_and_Nature_of_Ope

Organization and Nature of Operations	12 Months Ended
	Dec. 31, 2014
Notes
Organization and Nature of Operations	NOTE 1 - ORGANIZATION AND NATURE OF OPERATIONS
	Horizon Minerals Corp. (the “Company”) was incorporated under the laws of the State of Delaware on May 11, 2011. The Company is currently seeking to acquire a business.
	The Company’s financial statements are prepared on a going concern basis in accordance with US generally accepted accounting principles (“GAAP”) which contemplate the realization of assets and discharge of liabilities and commitments in the normal course of business.  The company has not generated operating revenues to date, has accumulated losses of $181,530 since inception and as at December 31, 2014 had $831 cash on hand.  The Company has funded its operations through the issuance of capital stock and debt.  Management intends to obtain additional funding by borrowing funds from its directors and officers, issuing promissory notes and/or a private placement of common stock.  There is no certainty that further funding will be available as needed.  These factors raise substantial doubt about the ability of the Company to continue operating as a going concern.  The Company’s ability to continue its operations as a going concern, realize the carrying value of its assets, and discharge its liabilities in the normal course of business is dependent upon its ability to raise new capital sufficient to fund its commitments and ongoing losses, and ultimately on generating profitable operations. These financial statements do not include any adjustments to the amounts and classification of assets and liabilities that may be necessary should the Company be unable to continue as a going concern.

Summary_of_Significant_Account

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2014
Notes
Summary of Significant Accounting Policies	NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
	Basis of Presentation
	These financial statements and related notes are presented in accordance with US GAAP, and are presented in United States dollars.
	Use of Estimates
	The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect certain of the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the year. The Company regularly evaluates estimates and assumptions. The Company bases its estimates and assumptions on current facts, historical experience and various other factors it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. The actual results experienced by the Company may differ materially and adversely from the Company’s estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected.
	Fair Value of Financial Instruments
	The carrying amounts reflected in the balance sheets for cash and accounts payable approximate the respective fair values due to the short maturities of these items. The Company does not hold any investments that are available-for-sale.
	As required by the Fair Value Measurements and Disclosures Topic of the FASB ASC, fair value is measured based on a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows: (Level 1) observable inputs such as quoted prices in active markets; (Level 2) inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and (Level 3) unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions.
	The three levels of the fair value hierarchy are described below:
	Level 1: Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities;
	Level 2: Quoted prices in markets that are not active, or inputs that are observable, either directly or indirectly, for substantially the full term of the asset or liability;
	Level 3: Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (supported by little or no market activity).
	Loss per Share
	Basic loss per share is computed by dividing losses available to common stockholders by the weighted average number of common shares outstanding during the period.  Diluted loss per share gives effect to all dilutive potential common shares outstanding during the period. Dilutive loss per share excludes all potential common shares if their effect is anti-dilutive. The Company had no dilutive common stock equivalents, such as stock options or warrants as of December 31, 2014 and 2013.
	Recent Pronouncements
	The Company has elected to early adopt the guidance in FASB Topic 915 and no longer provides the accounting disclosures for development stage companies. Accordingly, the figures for the period from inception to the current period are no longer provided and all references to development stage operations have been removed. Other recent accounting pronouncements with future effective dates are not expected to have an impact on the Company’s financial statements.

Related_Party_Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2014
Notes
Related Party Transactions	NOTE 3 - RELATED PARTY TRANSACTIONS
	On February 27, 2014, the Company entered into a loan agreement with its sole director and officer for CAD$11,500 ($10,405). The loan bore interest at 10% per annum, was unsecured and due on demand. On May 30, 2014, the Company repaid the loan in full.
	On July 11, 2014, the Company received an advance from its sole director and officer for CAD$6,000 ($5,172) for working capital purposes. The amount is due on demand, bears no interest, and is unsecured. As at December 31, 2014, the entire amount is still outstanding.
	For the year ended December 31, 2014, the Company incurred management fees of $18,000 (2013 - $Nil) to the sole director and officer of the Company. The amount payable of $18,000 (2013 - $Nil) is included in accounts payable.

Stockholders_Deficit_Disclosur

Stockholders' Deficit Disclosure	12 Months Ended
	Dec. 31, 2014
Notes
Stockholders' Deficit Disclosure	NOTE 4 - STOCKHOLDERS’ DEFICIT
	On August 8, 2014, the Company completed a private placement of 63,888 common shares at $0.75 per share for gross proceeds of $47,910.

Donated_Services_Disclosure

Donated Services Disclosure	12 Months Ended
	Dec. 31, 2014
Notes
Donated Services Disclosure	NOTE 5 - DONATED SERVICES
	During the year ended December 31, 2013, the Company incurred $16,330 in expenditures which were paid on behalf of the Company by an unrelated party without requirement for reimbursement. These payments were recorded as donated capital.

Income_Taxes_Disclosure

Income Taxes Disclosure	12 Months Ended
	Dec. 31, 2014
Notes
Income Taxes Disclosure	NOTE 6 - INCOME TAXES
	The provision for income taxes for the periods ended December 31, 2014 and 2013, are as follows:
		Years ended December 31,
		2014			2013
	Loss before income taxes	$	-72,925		$	-32,205
	Statutory tax rate		23%			23%
	Expected recovery of the income taxes		-16,773			-7,407
	Non-deductible items		-			3,756
	Change in valuation allowance		16,773			3,651
		$	-		$	-
	The Company’s tax-effected deferred income tax assets and liabilities are estimated as follows:
		Years ended December 31,
		2014			2013
	Non-capital losses carried forward	$	37,237		$	20,464
	Less: Valuation allowance		-37,237			-20,464
	Net deferred income tax assets	$	-		$	-
	The Company has non-capital losses of $164,400, which may be carried forward to reduce taxable income in future years. The noncapital losses expire as follows:
	2031		$	34,516
	2032			38,584
	2033			15,875
	2034			72,925
			$	161,900

Summary_of_Significant_Account1

Summary of Significant Accounting Policies: Basis of Presentation (Policies)	12 Months Ended
	Dec. 31, 2014
Policies
Basis of Presentation	Basis of Presentation
	These financial statements and related notes are presented in accordance with US GAAP, and are presented in United States dollars.

Summary_of_Significant_Account2

Summary of Significant Accounting Policies: Use of Estimates (Policies)	12 Months Ended
	Dec. 31, 2014
Policies
Use of Estimates	Use of Estimates
	The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect certain of the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the year. The Company regularly evaluates estimates and assumptions. The Company bases its estimates and assumptions on current facts, historical experience and various other factors it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. The actual results experienced by the Company may differ materially and adversely from the Company’s estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected.

Summary_of_Significant_Account3

Summary of Significant Accounting Policies: Fair Value of Financial Instruments (Policies)	12 Months Ended
	Dec. 31, 2014
Policies
Fair Value of Financial Instruments	Fair Value of Financial Instruments
	The carrying amounts reflected in the balance sheets for cash and accounts payable approximate the respective fair values due to the short maturities of these items. The Company does not hold any investments that are available-for-sale.
	As required by the Fair Value Measurements and Disclosures Topic of the FASB ASC, fair value is measured based on a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows: (Level 1) observable inputs such as quoted prices in active markets; (Level 2) inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and (Level 3) unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions.
	The three levels of the fair value hierarchy are described below:
	Level 1: Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities;
	Level 2: Quoted prices in markets that are not active, or inputs that are observable, either directly or indirectly, for substantially the full term of the asset or liability;
	Level 3: Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (supported by little or no market activity).

Summary_of_Significant_Account4

Summary of Significant Accounting Policies: Loss Per Share Policy (Policies)	12 Months Ended
	Dec. 31, 2014
Policies
Loss Per Share Policy	Loss per Share
	Basic loss per share is computed by dividing losses available to common stockholders by the weighted average number of common shares outstanding during the period.  Diluted loss per share gives effect to all dilutive potential common shares outstanding during the period. Dilutive loss per share excludes all potential common shares if their effect is anti-dilutive. The Company had no dilutive common stock equivalents, such as stock options or warrants as of December 31, 2014 and 2013.

Summary_of_Significant_Account5

Summary of Significant Accounting Policies: Recent Pronouncements (Policies)	12 Months Ended
	Dec. 31, 2014
Policies
Recent Pronouncements	Recent Pronouncements
	The Company has elected to early adopt the guidance in FASB Topic 915 and no longer provides the accounting disclosures for development stage companies. Accordingly, the figures for the period from inception to the current period are no longer provided and all references to development stage operations have been removed. Other recent accounting pronouncements with future effective dates are not expected to have an impact on the Company’s financial statements.

Income_Taxes_Disclosure_Schedu

Income Taxes Disclosure: Schedule of Income Tax Expense (Benefit) (Tables)	12 Months Ended
	Dec. 31, 2014
Tables/Schedules
Schedule of Income Tax Expense (Benefit)
		Years ended December 31,
		2014		2013
	Loss before income taxes	$	-72,925	$	-32,205
	Statutory tax rate		23%		23%
	Expected recovery of the income taxes		-16,773		-7,407
	Non-deductible items		-		3,756
	Change in valuation allowance		16,773		3,651
		$	-	$	-

Income_Taxes_Disclosure_Schedu1

Income Taxes Disclosure: Schedule of Deferred Tax Assets and Liabilities (Tables)	12 Months Ended
	Dec. 31, 2014
Tables/Schedules
Schedule of Deferred Tax Assets and Liabilities
		Years ended December 31,
		2014		2013
	Non-capital losses carried forward	$	37,237	$	20,464
	Less: Valuation allowance		-37,237		-20,464
	Net deferred income tax assets	$	-	$	-

Income_Taxes_Disclosure_Summar

Income Taxes Disclosure: Summary of Non-Capital Losses Carryforwards (Tables)	12 Months Ended
	Dec. 31, 2014
Tables/Schedules
Summary of Non-Capital Losses Carryforwards
	2031	$	34,516
	2032		38,584
	2033		15,875
	2034		72,925
		$	161,900

Organization_and_Nature_of_Ope1

Organization and Nature of Operations (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013
Details
Accumulated losses since inception	$181,530	$108,605
Cash	$831

Related_Party_Transactions_Det

Related Party Transactions (Details) (USD $)	12 Months Ended
	Dec. 31, 2014
Management fees incurred from a related party	$18,000
Accounts payable, related party	18,000
Sole director and officer - loan agreement
Loan received from related party	10,405
Interest rate of loan, per annum	10.00%
Sole director and officer - advance
Loan received from related party	$5,172

Stockholders_Deficit_Disclosur1

Stockholders' Deficit Disclosure (Details) (USD $)	12 Months Ended
	Dec. 31, 2014
Details
Common stock issued iin private placement, shares	63,888
Price per share	$0.75
Common stock issued in private placement, gross proceeds	$47,910

Donated_Services_Disclosure_De

Donated Services Disclosure (Details) (USD $)	12 Months Ended
	Dec. 31, 2013
Details
Donated capital recorded	$16,330

Income_Taxes_Disclosure_Schedu2

Income Taxes Disclosure: Schedule of Income Tax Expense (Benefit) (Details) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Details
Loss before income taxes	($72,925)	($32,205)
Statutory tax rate	23.00%	23.00%
Expected recovery of income taxes	-16,773	-7,407
Non-deductible items		3,756
Change in valuation allowance	$16,773	$3,651

Income_Taxes_Disclosure_Schedu3

Income Taxes Disclosure: Schedule of Deferred Tax Assets and Liabilities (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013
Details
Non-capital losses carried forward	$37,237	$20,464
Less: Valuation allowance	($37,237)	($20,464)

Income_Taxes_Disclosure_Summar1

Income Taxes Disclosure: Summary of Non-Capital Losses Carryforwards (Details) (USD $)	Dec. 31, 2014
Non-capital losses which may be carried forward	$161,900
2031
Non-capital losses which may be carried forward	34,516
2032
Non-capital losses which may be carried forward	38,584
2033
Non-capital losses which may be carried forward	15,875
2034
Non-capital losses which may be carried forward	$72,925