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Registration number: 12488063

Hapstar Limited

Unaudited Filleted Financial Statements

for the Year Ended 28 February 2023

 

Hapstar Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Hapstar Limited

Company Information

Director

Mr Darren John Ryemill

Registered office

West View House
15 Church Lane
Old Sodbury
BS37 6NB

Accountants

Stone & Co Chartered Accountants
2 Charnwood House
Marsh Road
Ashton
Bristol
BS3 2NA

 

Hapstar Limited

(Registration number: 12488063)
Balance Sheet as at 28 February 2023

Note

2023
£

2022
£

         

Fixed assets

   

Intangible assets

4

 

186,472

41,667

Tangible assets

5

 

6,868

-

   

193,340

41,667

Current assets

   

Debtors

6

33,979

 

1

Cash at bank and in hand

 

4,799

 

-

 

38,778

 

1

Creditors: Amounts falling due within one year

7

(312,974)

 

(42,267)

Net current liabilities

   

(274,196)

(42,266)

Net liabilities

   

(80,856)

(599)

Capital and reserves

   

Called up share capital

1

 

1

Profit and loss account

(80,857)

 

(600)

Total equity

   

(80,856)

(599)

For the financial year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 24 October 2023
 

.........................................

Mr Darren John Ryemill
Director

 

Hapstar Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
West View House
15 Church Lane
Old Sodbury
BS37 6NB

These financial statements were authorised for issue by the director on 24 October 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tax

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

20% Straight Line

 

Hapstar Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Software development

5 years straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 0).

 

Hapstar Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

4

Intangible assets

Software development costs
 £

Total
£

Cost or valuation

At 1 March 2022

41,667

41,667

Additions

158,885

158,885

At 28 February 2023

200,552

200,552

Amortisation

Amortisation charge

14,080

14,080

At 28 February 2023

14,080

14,080

Carrying amount

At 28 February 2023

186,472

186,472

At 28 February 2022

41,667

41,667

5

Tangible assets

Office equipment
£

Total
£

Cost or valuation

Additions

7,791

7,791

At 28 February 2023

7,791

7,791

Depreciation

Charge for the year

923

923

At 28 February 2023

923

923

Carrying amount

At 28 February 2023

6,868

6,868

6

Debtors

2023
£

2022
£

Other debtors

33,979

1

33,979

1

 

Hapstar Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

4,345

-

Taxation and social security

2,629

-

Accruals and deferred income

46,000

42,267

Other creditors

260,000

-

312,974

42,267