IRIS Accounts Production v23.3.0.418 SC339747 director 1.4.22 31.3.23 31.3.23 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC3397472022-03-31SC3397472023-03-31SC3397472022-04-012023-03-31SC3397472021-03-31SC3397472021-04-012022-03-31SC3397472022-03-31SC339747ns10:Originalns15:Scotland2022-04-012023-03-31SC339747ns14:PoundSterlingns10:Original2022-04-012023-03-31SC339747ns10:Originalns10:Director12022-04-012023-03-31SC339747ns10:Original2022-04-012023-03-31SC339747ns10:Original2023-03-31SC339747ns10:Originalns10:PrivateLimitedCompanyLtd2022-04-012023-03-31SC339747ns10:Originalns10:SmallEntities2022-04-012023-03-31SC339747ns10:Originalns10:AuditExempt-NoAccountantsReport2022-04-012023-03-31SC339747ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-04-012023-03-31SC339747ns10:SmallCompaniesRegimeForAccountsns10:Original2022-04-012023-03-31SC339747ns10:Originalns10:FullAccounts2022-04-012023-03-31SC339747ns10:Original12022-04-012023-03-31SC339747ns10:Originalns10:RegisteredOffice2022-04-012023-03-31SC339747ns10:Original2022-03-31SC339747ns10:Originalns5:CurrentFinancialInstruments2023-03-31SC339747ns10:Originalns5:CurrentFinancialInstruments2022-03-31SC339747ns10:Originalns5:Non-currentFinancialInstruments2023-03-31SC339747ns10:Originalns5:Non-currentFinancialInstruments2022-03-31SC339747ns5:ShareCapitalns10:Original2023-03-31SC339747ns5:ShareCapitalns10:Original2022-03-31SC339747ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-03-31SC339747ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-03-31SC339747ns10:Originalns5:NetGoodwill2022-04-012023-03-31SC339747ns10:Originalns5:PlantMachinery2022-04-012023-03-31SC339747ns10:Original2021-04-012022-03-31SC339747ns10:Originalns5:NetGoodwill2022-03-31SC339747ns10:Originalns5:NetGoodwill2023-03-31SC339747ns10:Originalns5:NetGoodwill2022-03-31SC339747ns10:Originalns5:PlantMachinery2022-03-31SC339747ns10:Originalns5:PlantMachinery2023-03-31SC339747ns10:Originalns5:PlantMachinery2022-03-31SC339747ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-31SC339747ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-03-31
REGISTERED NUMBER: SC339747 (Scotland)













FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

HAPPY LETS LIMITED

HAPPY LETS LIMITED (REGISTERED NUMBER: SC339747)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HAPPY LETS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTOR: H S Sandhu





REGISTERED OFFICE: 1287 Argyle Street
Glasgow
G3 8TL





REGISTERED NUMBER: SC339747 (Scotland)





ACCOUNTANTS: Bannerman Johnstone Maclay
213 St Vincent Street
Glasgow
G2 5QY

HAPPY LETS LIMITED (REGISTERED NUMBER: SC339747)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 154,268 162,387
Tangible assets 5 35,619 35,457
189,887 197,844

CURRENT ASSETS
Debtors 6 848,354 1,012,800
Cash at bank and in hand 125,582 228,319
973,936 1,241,119
CREDITORS
Amounts falling due within one year 7 323,755 135,824
NET CURRENT ASSETS 650,181 1,105,295
TOTAL ASSETS LESS CURRENT
LIABILITIES

840,068

1,303,139

CREDITORS
Amounts falling due after more than one
year

8

(375,127

)

-

PROVISIONS FOR LIABILITIES (7,079 ) (5,045 )
NET ASSETS 457,862 1,298,094

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 456,862 1,297,094
SHAREHOLDERS' FUNDS 457,862 1,298,094

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

HAPPY LETS LIMITED (REGISTERED NUMBER: SC339747)

BALANCE SHEET - continued
31 MARCH 2023


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 director and authorised for issue on 12 October 2023 and were signed by:





H S Sandhu - Director


HAPPY LETS LIMITED (REGISTERED NUMBER: SC339747)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

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

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.

Turnover
Turnover represents net invoiced sales of services, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance and 20% on reducing balance

HAPPY LETS LIMITED (REGISTERED NUMBER: SC339747)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include certain debtors and cash and bank balances, are initially measured at transaction price including transactions costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including certain creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 12 ) .

HAPPY LETS LIMITED (REGISTERED NUMBER: SC339747)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 768,615
AMORTISATION
At 1 April 2022 606,228
Charge for year 8,119
At 31 March 2023 614,347
NET BOOK VALUE
At 31 March 2023 154,268
At 31 March 2022 162,387

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022 243,138
Additions 7,970
At 31 March 2023 251,108
DEPRECIATION
At 1 April 2022 207,681
Charge for year 7,808
At 31 March 2023 215,489
NET BOOK VALUE
At 31 March 2023 35,619
At 31 March 2022 35,457

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 6,602 115,253
Amounts owed by group undertakings 573,106 575,000
Amounts owed by related undertakings 199,335 269,894
Other debtors 69,311 52,653
848,354 1,012,800

HAPPY LETS LIMITED (REGISTERED NUMBER: SC339747)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 124,873 -
Trade creditors 21,490 5,007
Amounts owed to related undertakings 2,577 2,577
Taxation and social security 100,751 97,132
Other creditors 74,064 31,108
323,755 135,824

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 375,127 -

9. ULTIMATE CONTROLLING PARTY

The controlling party is Naryan Enterprises Limited.