Happy Stars Limited 4227728 false 2022-09-01 2023-08-31 2023-08-31 The principal activity of the company is the provision of nursery services Digita Accounts Production Advanced 6.30.9574.0 true 4227728 2022-09-01 2023-08-31 4227728 2023-08-31 4227728 bus:OrdinaryShareClass1 2023-08-31 4227728 core:RetainedEarningsAccumulatedLosses 2023-08-31 4227728 core:ShareCapital 2023-08-31 4227728 core:CurrentFinancialInstruments 2023-08-31 4227728 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-31 4227728 core:Goodwill 2023-08-31 4227728 core:FurnitureFittingsToolsEquipment 2023-08-31 4227728 core:LandBuildings 2023-08-31 4227728 core:MotorVehicles 2023-08-31 4227728 bus:SmallEntities 2022-09-01 2023-08-31 4227728 bus:AuditExemptWithAccountantsReport 2022-09-01 2023-08-31 4227728 bus:FullAccounts 2022-09-01 2023-08-31 4227728 bus:SmallCompaniesRegimeForAccounts 2022-09-01 2023-08-31 4227728 bus:RegisteredOffice 2022-09-01 2023-08-31 4227728 bus:Director1 2022-09-01 2023-08-31 4227728 bus:OrdinaryShareClass1 2022-09-01 2023-08-31 4227728 bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 4227728 core:Goodwill 2022-09-01 2023-08-31 4227728 core:FurnitureFittings 2022-09-01 2023-08-31 4227728 core:FurnitureFittingsToolsEquipment 2022-09-01 2023-08-31 4227728 core:LandBuildings 2022-09-01 2023-08-31 4227728 core:MotorVehicles 2022-09-01 2023-08-31 4227728 countries:England 2022-09-01 2023-08-31 4227728 2022-08-31 4227728 core:Goodwill 2022-08-31 4227728 core:FurnitureFittingsToolsEquipment 2022-08-31 4227728 core:LandBuildings 2022-08-31 4227728 core:MotorVehicles 2022-08-31 4227728 2021-09-01 2022-08-31 4227728 2022-08-31 4227728 bus:OrdinaryShareClass1 2022-08-31 4227728 core:RetainedEarningsAccumulatedLosses 2022-08-31 4227728 core:ShareCapital 2022-08-31 4227728 core:CurrentFinancialInstruments 2022-08-31 4227728 core:CurrentFinancialInstruments core:WithinOneYear 2022-08-31 4227728 core:Goodwill 2022-08-31 4227728 core:FurnitureFittingsToolsEquipment 2022-08-31 4227728 core:LandBuildings 2022-08-31 4227728 core:MotorVehicles 2022-08-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 4227728

Happy Stars Limited

Filleted Unaudited Financial Statements

for the Year Ended 31 August 2023

 

Happy Stars Limited

(Registration number: 4227728)
Balance Sheet as at 31 August 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

12,486

13,629

Current assets

 

Debtors

6

2,645

4,331

Cash at bank and in hand

 

90,173

125,994

 

92,818

130,325

Creditors: Amounts falling due within one year

7

(7,859)

(34,445)

Net current assets

 

84,959

95,880

Total assets less current liabilities

 

97,445

109,509

Provisions for liabilities

(351)

(380)

Net assets

 

97,094

109,129

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

96,994

109,029

Shareholders' funds

 

97,094

109,129

 

Happy Stars Limited

(Registration number: 4227728)
Balance Sheet as at 31 August 2023

For the financial year ending 31 August 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 3 March 2024
 


Mrs C J Foster
Director

   
 

Happy Stars Limited

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

1

General information

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

The address of its registered office is:
50-54 Oswald Road
Scunthorpe
North Lincolnshire
DN15 7PQ

Registration number: 4227728

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the 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.

Tax

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

 

Happy Stars Limited

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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 over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land and buildings

4% on cost

Furniture, fittings and equipment

15% on written down value

Motor vehicles

25% on written down value

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

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 debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Happy Stars Limited

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

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 at the transaction price.

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.

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 40 (2022 - 32).

 

Happy Stars Limited

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

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 September 2022

20,000

20,000

At 31 August 2023

20,000

20,000

Amortisation

At 1 September 2022

20,000

20,000

At 31 August 2023

20,000

20,000

Carrying amount

At 31 August 2023

-

-

At 31 August 2022

-

-

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 September 2022

15,097

58,377

7,311

80,785

Additions

-

989

-

989

At 31 August 2023

15,097

59,366

7,311

81,774

Depreciation

At 1 September 2022

9,905

51,380

5,871

67,156

Charge for the year

604

1,168

360

2,132

At 31 August 2023

10,509

52,548

6,231

69,288

Carrying amount

At 31 August 2023

4,588

6,818

1,080

12,486

At 31 August 2022

5,192

6,997

1,440

13,629

6

Debtors

2023
£

2022
£

Other debtors

2,645

3,083

Social security and other taxes

-

1,248

2,645

4,331

 

Happy Stars Limited

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

7

Creditors

2023
£

2022
£

Due within one year

Social security and other taxes

5,335

12,618

Other creditors

2,524

21,827

7,859

34,445

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100