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REGISTERED NUMBER: 12121096 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2023

FOR

HAPPY GIRLS LTD

HAPPY GIRLS LTD (REGISTERED NUMBER: 12121096)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HAPPY GIRLS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2023







DIRECTOR: C R Watts



REGISTERED OFFICE: Maple House
Norton Green Lane
Norton Canes
Cannock
Staffordshire
WS11 9SS



REGISTERED NUMBER: 12121096 (England and Wales)



ACCOUNTANTS: Fields Business Advisors Ltd
2nd Floor
Landchard House
Victoria Street
West Bromwich
West Midlands
B70 8ER



BANKERS: National Westminster Bank plc
Merry Hill Centre
Brierley Hill
West Midlands
DY1 1LW

HAPPY GIRLS LTD (REGISTERED NUMBER: 12121096)

BALANCE SHEET
31ST MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 5 3,576,870 3,141,287

CURRENT ASSETS
Debtors 6 25,902 76,571
Cash at bank 27,818 292,070
53,720 368,641
CREDITORS
Amounts falling due within one year 7 559,427 366,005
NET CURRENT (LIABILITIES)/ASSETS (505,707 ) 2,636
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,071,163

3,143,923

CREDITORS
Amounts falling due after more than one year 8 3,059,041 3,325,262
NET ASSETS/(LIABILITIES) 12,122 (181,339 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 12,022 (181,439 )
SHAREHOLDERS' FUNDS 12,122 (181,339 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st 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 GIRLS LTD (REGISTERED NUMBER: 12121096)

BALANCE SHEET - continued
31ST 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 22nd December 2023 and were signed by:





C R Watts - Director


HAPPY GIRLS LTD (REGISTERED NUMBER: 12121096)

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

1. STATUTORY INFORMATION

Happy Girls Ltd 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.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The financial statements are prepared in sterling which is the functional currency of the company and are rounded to the nearest £1.

Going concern
The directors believe that there are no material uncertainties related to events or conditions, that may cast significant doubt on the ability of the company to continue as a going concern and therefore the going concern basis remains appropriate in the preparation of the financial statements.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the reported amounts of assets and liabilities as at the reporting date and the amounts reported for turnover and expenses during the period. The nature of estimating means that actual outcomes could differ from the original estimates.

The principal accounting policies and the judgements and estimates that have the most significant effect on amounts recognised in the financial statements are as stated below.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments
With few exceptions, the company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as cash, trade and other accounts receivable and payable and loans from banks and other third parties, including related parties.

Basic financial instruments such as those above are recognised in the financial statements at amortised cost.

Any exception to the above are either immaterial or do not affect more than one accounting period.


HAPPY GIRLS LTD (REGISTERED NUMBER: 12121096)

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

3. ACCOUNTING POLICIES - continued
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.

The companies in the Craig and Watts Group receive or surrender their losses within the group. Group members do not pay for losses surrendered or received.

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.

Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash at bank and in hand.

Development costs
All development costs relating to properties that are completed and are in use for the purposes of generating rental income are capitalised in the year in which the rental income commences.

Exemption from preparing a cash flow statement
Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a small company.

4. EMPLOYEES AND DIRECTORS

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

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st April 2022 3,141,287
Additions 435,583
At 31st March 2023 3,576,870
NET BOOK VALUE
At 31st March 2023 3,576,870
At 31st March 2022 3,141,287

HAPPY GIRLS LTD (REGISTERED NUMBER: 12121096)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 22,292 34,368
Other debtors 3,610 42,203
25,902 76,571

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 430,156 318,580
Taxation and social security 91,226 21,315
Other creditors 38,045 26,110
559,427 366,005

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Amounts owed to group undertakings 424,764 1,095,114
Other creditors 2,634,277 2,230,148
3,059,041 3,325,262

The company has received support from Craig and Watts Holdings Limited, it's parent company, for the development and construction of it's property. Due to the long term nature of the development the amounts owed to the group undertaking are disclosed as due after one year.

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Loans 2,634,277 2,230,148

Security is provided by way of a legal charge over the company's investment property.

The expiry date of the loan is the date of sale of the property on which it is secured. Interest is rolled over and is added on a quarterly basis to the outstanding loan balance.

10. ULTIMATE CONTROLLING PARTY

The controlling party is Craig & Watts Holdings Limited.

The ultimate controlling party is C R Watts.