One Direction at Capital Summertime Ball 2015
Niall Horan has been labelled by bookmakers as a possible contender for the revamped judging panel of The X FactorBrendon Thorne/Getty

Niall Horan has been labelled by bookmakers as a possible contender for the revamped judging panel of The X Factor, in its upcoming twelfth series this year, but the 21-year-old was quick to lay the rumours to rest when he admitted that he would be a "terrible" addition to the long-running show.

The One Direction member told BANG Showbiz after performing at the Vodafone's Capital Summertime Ball: "I'll be the worst judge ever. I'll be terrible."

Whilst speculation has been growing earlier this year that Horan might be returning to the singing competition as a judge, news that the ITV 2 spin off show, The Xtra Factor was also after a new host, got fans suggesting fellow 1D bandmate, Louis Tomlinson would be well-suited to the role.

That rumour that was also cleared up over the weekend when Tomlinson's response when asked about the unverified career move was "I've got a tour to do so unfortunately not."

Olly Murs and Caroline Flack
Former contestant Olly Murs and Caroline Flack will replace Dermot O'Leary to co-host The X Factor in it's upcoming twelfth season.Alex B. Huckle/Getty

Fellow Capital Summertime Ball act Little Mix confessed that they were personally hoping to see the surprise return of their old mentor from the show, Tulisa Contostavlos this year who was part of the judging panel for two consecutive years back in 2011 and 2012.

Member of the girl group, Jesy Nelson confessed: "We are all team Tulisa and Chezza (Cheryl Fernandez-Versini)."

Show-boss Simon Cowell seems to be changing up The X Factor format quite a bit this year, with most of the programme's changes surrounding from the people involved. It has been confirmed officially that both Dermot O'Leary and Louis Walsh won't be returning for season 12, with Olly Murs and Caroline Flack replacing the host and Radio 1's Nick Grimshaw taking the place of long-standing judge, Walsh.

Former Spice Girl Mel B has said that she will not be continuing as a mentor after her stint as a mentor last year, whilst current panellist Cheryl's fate is still up in the air.

"We are going to miss Louis," Little Mix bandmate Leigh-Anne Pinnock said of Walsh's departure. "He's such a big part of the show so it will be weird seeing him go."

However, new addition Murs is looking forward to the updated aspects of the show. Also talking at the London music event, the Troublemaker singer stated: "I'm excited because the boot camps are changing, judges' houses are changing, the live shows are going to be different. It's going to be something new for everyone.

"We want people who are going to be fun on the panel with big, strong personalities so I'm hoping Simon will get the right team."