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COMPANY REGISTRATION NUMBER: 07466461
Happy Homes Property Development Ltd
Filleted Unaudited Financial Statements
31 December 2023
Happy Homes Property Development Ltd
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
Current assets
Debtors
4
154
Cash at bank and in hand
34,216
46,769
---------
---------
34,370
46,769
Creditors: amounts falling due within one year
5
( 17,610)
( 29,354)
---------
---------
Net current assets
16,760
17,415
---------
---------
Total assets less current liabilities
16,760
17,415
---------
---------
Net assets
16,760
17,415
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
16,660
17,315
---------
---------
Shareholders funds
16,760
17,415
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 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 financial statements for the year in question in accordance with section 476 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Happy Homes Property Development Ltd
Statement of Financial Position (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 8 February 2024 , and are signed on behalf of the board by:
K Huntington
Director
Company registration number: 07466461
Happy Homes Property Development Ltd
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Kirksteads Farmhouse, Rosley, Wigton, CA7 BL.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. There were no judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies that have had any significant effect on the amounts recognised in the financial statements. Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. There were no key assumptions and other sources of estimation uncertainty that have had a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
4. Debtors
2023
2022
£
£
Other debtors
154
-----
-----
5. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
72
Corporation tax
963
Other creditors
17,538
28,391
---------
---------
17,610
29,354
---------
---------
6. Director's advances, credits and guarantees
The Directors were not advanced any amounts during the period.
7. Related party transactions
The company was under the control of Ms K and Ms A Huntington throughout the current and previous year. Ms K huntington is the managing director and joint shareholder. No transactions with related parties were undertaken such as are required to be disclosed under FRS102 Section 1A.