Registered number: 14278556
THE HAPPINESS FIRST GROUP LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
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THE HAPPINESS FIRST GROUP LIMITED
CONTENTS
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Notes to the Financial Statements
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THE HAPPINESS FIRST GROUP LIMITED
REGISTERED NUMBER: 14278556
BALANCE SHEET
AS AT 31 DECEMBER 2023
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.
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THE HAPPINESS FIRST GROUP LIMITED
REGISTERED NUMBER: 14278556
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 17 September 2024.
The notes on pages 3 to 5 form part of these financial statements.
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THE HAPPINESS FIRST GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
The company is a private company limited by shares. It is both incorporated and domiciled in England and Wales. The registered office is 2 Millennium Plain, Norwich, Norfolk, NR2 1TF.
The company is a holding company. The principal place of business is Norwich, Norfolk.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The following principal accounting policies have been applied:
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
Investments in subsidiaries are measured at cost less accumulated impairment.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
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The average number of employees during the year was Nil.
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THE HAPPINESS FIRST GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
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Investments in subsidiary companies
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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Accruals and deferred income
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Creditors: Amounts falling due after more than one year
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THE HAPPINESS FIRST GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
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Allotted, called up and fully paid
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84,000 Ordinary 'A' shares of £1.00 each
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36,000 Ordinary 'B' shares of £1.00 each
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Under the agreement with Miss E V Groves and Mr D K Groves, The Happiness First Group Limited is party to an inter-company guarantee dated 8 December 2022 with Indigo Swan Limited. As at 31 December 2023 this amounted to £742,500 (2022: £892,500).
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