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Registered Number: SC724978


 

 

 

HAPPY OM LTD


Abridged Accounts
 


Period of accounts

Start date: 02 March 2022

End date: 31 March 2023
Report to the directors on the preparation of the unaudited statutory accounts of HAPPY OM LTD for the year ended 31 March 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of HAPPY OM LTD for the year ended 31 March 2023 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company’s accounting records and from information and explanations you have given us
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/
This report is made solely to the Board of Directors of HAPPY OM LTD, as a body, in accordance with the terms of our engagement letter dated 01 December 2023 Our work has been undertaken solely to prepare for your approval the accounts of HAPPY OM LTD and state those matters that we have agreed to state to the Board of Directors of HAPPY OM LTD, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than HAPPY OM LTD and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that HAPPY OM LTD has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of HAPPY OM LTD. You consider that HAPPY OM LTD is exempt from the statutory audit requirement for the year
We have not been instructed to carry out an audit or a review of the accounts of HAPPY OM LTD. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts
31 March 2023



....................................................
SNP Plus Ltd
Accountants and Tax Advisors
284 Station Road
Harrow, London
HA1 2EA
01 December 2023
1
 
 
Notes
 
2023
£
Fixed assets    
Tangible fixed assets 3 5,437 
5,437 
Current assets    
Stocks 4,578 
Debtors 1,300 
Cash at bank and in hand 51,627 
57,505 
Creditors: amount falling due within one year (53,240)
Net current assets 4,265 
 
Total assets less current liabilities 9,702 
Provisions for liabilities (1,033)
Net assets 8,669 
 

Capital and reserves
   
Called up share capital 4 10 
Profit and loss account 8,659 
Shareholder's funds 8,669 
 


For the period ended 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:
  1. The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
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 the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 01 December 2023 and were signed by:


-------------------------------
Keshab Kharel
Director
2
General Information
HAPPY OM LTD is a private company, limited by shares, registered in , registration number SC724978, registration address 16 WOODHALL STREET, GLASGOW SCOTLAND, G40 4PS.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 20% Straight Line
Plant and Machinery 20% Straight Line
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
2.

Average number of employees

Average number of employees during the period was 4.
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Fixtures and Fittings   Total
  £   £   £
At 02 March 2022    
Additions 1,999    4,798    6,797 
Disposals    
At 31 March 2023 1,999    4,798    6,797 
Depreciation
At 02 March 2022    
Charge for period 400    960    1,360 
On disposals    
At 31 March 2023 400    960    1,360 
Net book values
Closing balance as at 31 March 2023 1,599    3,838    5,437 
Opening balance as at 02 March 2022    


4.

Share Capital

Allotted, called up and fully paid
2023
£
10 Class A shares of £1.00 each 10 
10 
Issue of new shares
During the period, the company issued 10 ordinary shares of £1 each.

5.

Related parties

During the year the company entered into the following transactions with related parties:
Transaction value - income/(expenses) Balance owed by/(owed to)
2023
£
2023
£
Mr. Keshab Kharel41,567 
3