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Registration number: 07555078

Happy Talk S.A.L.T. Limited

trading as Happy Talk S.A.L.T. Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2023

 

Happy Talk S.A.L.T. Limited

trading as Happy Talk S.A.L.T. Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Happy Talk S.A.L.T. Limited

trading as Happy Talk S.A.L.T. Ltd

Company Information

Director

Mrs Gillian White

Registered office

Beckett House
Wyrefields
Poulton Le Fylde
Lancashire
FY6 8JX

Accountants

Beckett Rawcliffe Limited
Chartered Accountants
Unit 17, Beckett House
Sovereign Court
Wyrefields
Poulton Le Fylde
Lancashire
FY6 8JX

 

Happy Talk S.A.L.T. Limited

trading as Happy Talk S.A.L.T. Ltd

(Registration number: 07555078)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

18,752

6,386

Current assets

 

Cash at bank and in hand

 

5,270

17,369

Creditors: Amounts falling due within one year

5

(9,358)

(7,500)

Net current (liabilities)/assets

 

(4,088)

9,869

Net assets

 

14,664

16,255

Capital and reserves

 

Called up share capital

6

1

1

Retained earnings

14,663

16,254

Shareholders' funds

 

14,664

16,255

For the financial year ending 31 March 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 her 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.

Approved and authorised by the director on 23 January 2024
 

.........................................
Mrs Gillian White
Director

   
     
 

Happy Talk S.A.L.T. Limited

trading as Happy Talk S.A.L.T. Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1

General information

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

The address of its registered office is:
Beckett House
Wyrefields
Poulton Le Fylde
Lancashire
FY6 8JX

The principal place of business is:
Park View Cottage
13 Higher Green
Poulton Le Fylde
Lancashire
FY6 7BL

These financial statements were authorised for issue by the director on 23 January 2024.

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Happy Talk S.A.L.T. Limited

trading as Happy Talk S.A.L.T. Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

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

Fixtures and fittings

25% on written down value

Office equipment

25% on written down value

Impovements to land and buildings

10% 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 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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Happy Talk S.A.L.T. Limited

trading as Happy Talk S.A.L.T. Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 9 (2022 - 9).

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2022

-

14,638

14,638

Additions

7,819

10,818

18,637

At 31 March 2023

7,819

25,456

33,275

Depreciation

At 1 April 2022

-

8,252

8,252

Charge for the year

787

5,484

6,271

At 31 March 2023

787

13,736

14,523

Carrying amount

At 31 March 2023

7,032

11,720

18,752

At 31 March 2022

-

6,386

6,386

Included within the net book value of land and buildings above is £7,032 (2022 - £Nil) in respect of short leasehold land and buildings.
 

 

Happy Talk S.A.L.T. Limited

trading as Happy Talk S.A.L.T. Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

5

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

8,561

5,289

Other creditors

797

2,211

9,358

7,500

6

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

1

1

1

1

         

7

Dividends

Interim dividends paid

   

2023
£

 

2022
£

Interim dividend of £37,000.00 (2022 - £2,000.00) per each Ordinary

 

37,000

 

2,000

         

8

Related party transactions

 

Happy Talk S.A.L.T. Limited

trading as Happy Talk S.A.L.T. Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Director's remuneration

The director's remuneration for the year was as follows:

2023
£

2022
£

Remuneration

10,200

35,375

9

Parent and ultimate parent undertaking

The ultimate controlling party is Gillian White.