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REGISTERED NUMBER: SC136953 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023

FOR

CLASSHAPPY LIMITED

CLASSHAPPY LIMITED (REGISTERED NUMBER: SC136953)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 May 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


CLASSHAPPY LIMITED

COMPANY INFORMATION
for the year ended 31 May 2023







DIRECTORS: A G Bain
Mrs K J Bain



SECRETARY: A G Bain



REGISTERED OFFICE: Letham Acredales
Haddington
EAST LOTHIAN
EH41 4NW



REGISTERED NUMBER: SC136953 (Scotland)



ACCOUNTANTS: Mitchell Edwards
Chartered Certified Accountants
24A Ainslie Place
Edinburgh
EH3 6AJ



BANKERS: Bank of Scotland
44 Court Street
Haddington
EH41 3NP



SOLICITORS: Garden Stirling Burnet
56 Court Street
Haddington
East Lothian
EH41 33AF

CLASSHAPPY LIMITED (REGISTERED NUMBER: SC136953)

BALANCE SHEET
31 May 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 786,155 1,031,221
Investment property 5 278,450 -
1,064,605 1,031,221

CURRENT ASSETS
Debtors 6 - 1,748
Cash at bank 793,021 920,371
793,021 922,119
CREDITORS
Amounts falling due within one year 7 73,473 140,780
NET CURRENT ASSETS 719,548 781,339
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,784,153

1,812,560

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,784,053 1,812,460
SHAREHOLDERS' FUNDS 1,784,153 1,812,560

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

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

The directors acknowledge their 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.

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 Board of Directors and authorised for issue on 2 October 2023 and were signed on its behalf by:




A G Bain - Director



Mrs K J Bain - Director


CLASSHAPPY LIMITED (REGISTERED NUMBER: SC136953)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 May 2023


1. STATUTORY INFORMATION

Classhappy 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.

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

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 rent receivable in the year.


Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land - not depreciated
Buildings - 4% on cost
Plant and machinery - 25% on reducing balance.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Income Statement. Fair value gains and losses net of deferred tax are transferred to the Fair Value Reserve.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

CLASSHAPPY LIMITED (REGISTERED NUMBER: SC136953)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 May 2023


4. TANGIBLE FIXED ASSETS
Land & Plant and
buildings machinery Totals
£    £    £   
COST
At 1 June 2022 902,799 217,652 1,120,451
Disposals - (217,652 ) (217,652 )
At 31 May 2023 902,799 - 902,799
DEPRECIATION
At 1 June 2022 85,633 3,597 89,230
Charge for year 31,011 - 31,011
Eliminated on disposal - (3,597 ) (3,597 )
At 31 May 2023 116,644 - 116,644
NET BOOK VALUE
At 31 May 2023 786,155 - 786,155
At 31 May 2022 817,166 214,055 1,031,221

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Additions 278,450
At 31 May 2023 278,450
NET BOOK VALUE
At 31 May 2023 278,450

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors - 1,748

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 43,560 124,521
Other creditors 29,913 16,259
73,473 140,780

8. RELATED PARTY DISCLOSURES

Included in Other creditors is £13,929 (2022: £290) which is due to another business under common control. This loan is unsecured, interest free and with no set terms of repayment.