REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST MARCH 2023 |
FOR |
HAPPY GIRLS LTD |
REGISTERED NUMBER: |
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: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
2nd Floor |
Landchard House |
Victoria Street |
West Bromwich |
West Midlands |
B70 8ER |
BANKERS: |
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 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 8 |
NET ASSETS/(LIABILITIES) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) |
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 |
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 |
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 |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Additions |
At 31st March 2023 |
NET BOOK VALUE |
At 31st March 2023 |
At 31st March 2022 |
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 |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Amounts owed to group undertakings |
Other creditors |
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 |
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 |