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HAPPY DNA LTD

Registered Number
08062480
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2023

HAPPY DNA LTD
Company Information
for the year from 1 April 2022 to 31 March 2023

Directors

GAFFEY, Anna-Lena
GAFFEY, Damian Michael

Registered Address

1 Bailey Cottages Chichester Road
Upper Norton
Chichester
PO20 9EB

Registered Number

08062480 (England and Wales)
HAPPY DNA LTD
Balance Sheet as at
31 March 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets51886
1886
Current assets
Stocks6395395
Debtors786173
Cash at bank and on hand10,59410,566
11,07511,134
Creditors amounts falling due within one year8(8,284)(6,687)
Net current assets (liabilities)2,7914,447
Total assets less current liabilities2,8094,533
Creditors amounts falling due after one year9(2,660)(3,472)
Provisions for liabilities(3)(16)
Net assets1461,045
Capital and reserves
Called up share capital100100
Profit and loss account46945
Shareholders' funds1461,045
The financial statements were approved and authorised for issue by the Board of Directors on 26 October 2023, and are signed on its behalf by:
GAFFEY, Damian Michael
Director
Registered Company No. 08062480
HAPPY DNA LTD
Notes to the Financial Statements
for the year ended 31 March 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Accounting policies
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Plant and machinery25
Fixtures and fittings33.3
Office Equipment33.3
Stocks policy
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Deferred tax policy
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
4.Employee information

20232022
Average number of employees during the year22
5.Property, plant and equipment

Total

£
Cost or valuation
At 01 April 2213,087
Disposals(9,402)
At 31 March 233,685
Depreciation and impairment
At 01 April 2213,002
Charge for year68
On disposals(9,403)
At 31 March 233,667
Net book value
At 31 March 2318
At 31 March 2286
6.Stocks
Stocks are valued at cost price

2023

2022

££
Other stocks395395
Total395395
7.Debtors

2023

2022

££
Other debtors10-
Prepayments and accrued income76173
Total86173
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
8.Creditors within one year

2023

2022

££
Trade creditors / trade payables77-
Bank borrowings and overdrafts833833
Taxation and social security2,2952,456
Other creditors5,0793,398
Total8,2846,687
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
9.Creditors after one year

2023

2022

££
Bank borrowings and overdrafts2,6603,472
Total2,6603,472
Long-term Creditors consists of a Coronavirus Bounce Back Loan.