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REGISTERED NUMBER: 07833771 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2021

for

The Happy Tenant Company Limited

The Happy Tenant Company Limited (Registered number: 07833771)






Contents of the Financial Statements
for the Year Ended 31 December 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


The Happy Tenant Company Limited

Company Information
for the Year Ended 31 December 2021







DIRECTORS: A P Finneran
C A Fletcher





SECRETARY: Y Engel





REGISTERED OFFICE: 3 Park Road
Teddington
TW11 0AP





REGISTERED NUMBER: 07833771 (England and Wales)





ACCOUNTANTS: Gopsall Services Limited
4 HRFC Business Centre
Leicester Road
Hinckley
Leicestershire
LE10 3DR

The Happy Tenant Company Limited (Registered number: 07833771)

Balance Sheet
31 December 2021

31.12.21 31.12.20
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 2,737

CURRENT ASSETS
Debtors 5 257 39,249
Cash at bank - 218,898
257 258,147
CREDITORS
Amounts falling due within one year 6 272,936 555,669
NET CURRENT LIABILITIES (272,679 ) (297,522 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(272,679

)

(294,785

)

CREDITORS
Amounts falling due after more than one
year

7

(41,926

)

(49,628

)

PROVISIONS FOR LIABILITIES (8,000 ) -
NET LIABILITIES (322,605 ) (344,413 )

CAPITAL AND RESERVES
Called up share capital 16,667 16,667
Share premium 157,752 157,752
Retained earnings (497,024 ) (518,832 )
(322,605 ) (344,413 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 September 2022 and were signed on its behalf by:





C A Fletcher - Director


The Happy Tenant Company Limited (Registered number: 07833771)

Notes to the Financial Statements
for the Year Ended 31 December 2021

1. STATUTORY INFORMATION

The Happy Tenant Company Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going Concern
The directors assess whether the use of going concern is appropriate, i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the company to continue as a going concern. The directors make this assessment in respect of a period of at least one year from the date of the approval of the financial statements.For the purposes of assessing going concern the directors have assumed that the company will continue to be able to provide its services to its customers.

The company is reliant on the support of the new parent company (London Resi Ltd) whom acquired the Howsy group on 16 March 2022. London Resi Ltd have indicated their willingness to continue to support the company for a minimum of 12 months from the date of signing these financial statements and, therefore, that it remains appropriate to continue to adopt going concern basis of accounting in the preparation of the financial statements.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:


Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
- the company has transferred the significant risks and rewards of ownership to the buyer;
- the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
- the amount of turnover can be measured reliably;
- it is probable that the company will receive the consideration due under the transaction; and
- the costs incurred or to be incurred in respect of the transaction can be measured reliably.


Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
- the amount of turnover can be measured reliably
- it is probable that the company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.

The Happy Tenant Company Limited (Registered number: 07833771)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined, which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

The company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefits to the company. The carrying amount of the replaced part is derecognised. repairs and maintenance are charged to the profit and loss account during the period in which they are incurred.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Short-term leasehold property - 33% on cost
Fixtures and fittings - 33% on cost

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the profit and loss account.

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

All financial assets and liabilities are initially measured at transaction price and subsequently measured at amortised cost.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the balance sheet date.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Operating leases
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

The Happy Tenant Company Limited (Registered number: 07833771)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

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 payment obligations.

The contributions are recognised as an expense in the profit and loss account when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

Interest income
Interest income is recognised in the profit and loss account using the effective interest method.

Finance costs
Finance costs are charges to the profit and loss account over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2020 - 3 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Short and
leasehold fittings Totals
£    £    £   
COST
At 1 January 2021 9,016 41,413 50,429
Disposals (9,016 ) - (9,016 )
At 31 December 2021 - 41,413 41,413
DEPRECIATION
At 1 January 2021 9,016 38,676 47,692
Charge for year - 2,737 2,737
Eliminated on disposal (9,016 ) - (9,016 )
At 31 December 2021 - 41,413 41,413
NET BOOK VALUE
At 31 December 2021 - - -
At 31 December 2020 - 2,737 2,737

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.21 31.12.20
£    £   
Other debtors 257 39,249

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.21 31.12.20
£    £   
Bank loans and overdrafts (see note 8) 29,372 915
Trade creditors 7,870 2,203
Amounts owed to group undertakings 138,895 119,818
Taxation and social security 57,927 90,247
Other creditors 38,872 342,486
272,936 555,669

The Happy Tenant Company Limited (Registered number: 07833771)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued

Prior year comparatives have been restated for consistency of presentation with the current year.

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.21 31.12.20
£    £   
Other creditors 41,926 49,628

Amounts falling due in more than five years:

Repayable by instalments
Other loans more 5yrs instal - 12,910

Prior year comparatives have been restated for consistency of presentation with the current year.

8. LOANS

An analysis of the maturity of loans is given below:

31.12.21 31.12.20
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 29,372 915
Other loans 7,706 372
37,078 1,287

Amounts falling due between one and two years:
Other loans - 1-2 years 9,711 7,702

Amounts falling due between two and five years:
Other loans - 2-5 years 32,215 29,016

Amounts falling due in more than five years:

Repayable by instalments
Other loans more 5yrs instal - 12,910

9. ULTIMATE CONTROLLING PARTY

As at 31 December 2021, the company's immediate and ultimate parent undertaking was Howsy Limited Limited, a company registered in England and Wales. The accounts are available from Companies House, Crown Way, Cardiff, CF14 3UZ. The directors are of the opinion there is no singly ultimate controlling party of Howsy Limited

10. ULTIMATE PARENT COMPANY

As at the date of signing the directors consider the company's immediate and ultimate parent undertaking of the smallest and largest group to be London Resi Ltd a company incorporated in England and Wales. London Resi Ltd prepares financial statements which are available from its registered office; 3 Park Road, Teddington, England, TW11 0AP.