Caseware UK (AP4) 2023.0.135 2023.0.135 trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-04-01falseNo description of principal activity3534true 09049797 2023-04-01 2024-03-31 09049797 2022-04-01 2023-03-31 09049797 2024-03-31 09049797 2023-03-31 09049797 c:Director1 2023-04-01 2024-03-31 09049797 d:FurnitureFittings 2023-04-01 2024-03-31 09049797 d:FurnitureFittings 2024-03-31 09049797 d:FurnitureFittings 2023-03-31 09049797 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 09049797 d:OfficeEquipment 2023-04-01 2024-03-31 09049797 d:OfficeEquipment 2024-03-31 09049797 d:OfficeEquipment 2023-03-31 09049797 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 09049797 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 09049797 d:PatentsTrademarksLicencesConcessionsSimilar 2024-03-31 09049797 d:PatentsTrademarksLicencesConcessionsSimilar 2023-03-31 09049797 d:CurrentFinancialInstruments 2024-03-31 09049797 d:CurrentFinancialInstruments 2023-03-31 09049797 d:Non-currentFinancialInstruments 2024-03-31 09049797 d:Non-currentFinancialInstruments 2023-03-31 09049797 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 09049797 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 09049797 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 09049797 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 09049797 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-03-31 09049797 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 09049797 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-03-31 09049797 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 09049797 d:ShareCapital 2024-03-31 09049797 d:ShareCapital 2023-03-31 09049797 d:SharePremium 2024-03-31 09049797 d:SharePremium 2023-03-31 09049797 d:CapitalRedemptionReserve 2024-03-31 09049797 d:CapitalRedemptionReserve 2023-03-31 09049797 d:RetainedEarningsAccumulatedLosses 2024-03-31 09049797 d:RetainedEarningsAccumulatedLosses 2023-03-31 09049797 c:FRS102 2023-04-01 2024-03-31 09049797 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 09049797 c:FullAccounts 2023-04-01 2024-03-31 09049797 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 09049797 2 2023-04-01 2024-03-31 09049797 d:PatentsTrademarksLicencesConcessionsSimilar d:OwnedIntangibleAssets 2023-04-01 2024-03-31 09049797 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure


















The Happiness Index Ltd























Unaudited

Financial statements



For the year ended 31 March 2024



Registered number: 09049797

 
The Happiness Index Ltd - Registered number:09049797


Statement of financial position
As at 31 March 2024

2024
2024
2023
2023
Note
£
£
£
£

Fixed assets
  

Intangible assets
 4 
21,720
24,672

Tangible assets
 5 
10,572
13,617

  
32,292
38,289

Current assets
  

Debtors: amounts falling due within one year
 6 
531,506
572,830

Cash at bank and in hand
  
906,375
311,056

  
1,437,881
883,886

Creditors: amounts falling due within one year
 7 
(776,284)
(765,842)

Net current assets
  
 
 
661,597
 
 
118,044

Total assets less current liabilities
  
693,889
156,333

Creditors: amounts falling due after more than one year
 8 
(34,684)
(105,160)

  

Net assets
  
659,205
51,173


Capital and reserves
  

Share capital
  
1,749
1,618

Share premium account
  
5,170,962
3,509,021

Capital redemption reserve
  
29
29

Profit and loss account
  
(4,513,535)
(3,459,495)

  
659,205
51,173


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.
Page 1

 
The Happiness Index Ltd - Registered number:09049797


Statement of financial position (continued)
As at 31 March 2024


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 statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




C J Hyland
Director

Date: 15 October 2024

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
The Happiness Index Ltd
 
 

Notes to the financial statements
For the year ended 31 March 2024

1.


General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is C/O Buzzacott LLP, 130 Wood Street, London, EC2V 6DL, United Kingdom and principal place of business is Waverley House, 9 Noel Street, Soho, London, England, W1F 8GQ, United Kingdom. The company registration number is 09049797.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

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 Republic of Ireland' ('FRS102') and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies.
The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the company has transferred the significant risks and rewards of ownership to the buyer;
the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
The Happiness Index Ltd
 

Notes to the financial statements
For the year ended 31 March 2024

2.Accounting policies (continued)

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Finance costs

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.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of income and retained earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.7

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the company in independently administered funds.

Page 4

 
The Happiness Index Ltd
 

Notes to the financial statements
For the year ended 31 March 2024

2.Accounting policies (continued)

 
2.8

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

 
2.9

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25%
Office equipment
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Other receivables are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

Cash

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. 

Page 5

 
The Happiness Index Ltd
 

Notes to the financial statements
For the year ended 31 March 2024

2.Accounting policies (continued)

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.14

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial
assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties,
loans to related parties and investments in ordinary shares.

Financial liabilities and equity instruments are classified according to the substance of the
contractual arrangements entered into. An equity instrument is any contract that evidences a
residual interest in the assets of the entity after deducting all of its financial liabilities.


3.


Employees

The average monthly number of employees, including directors, during the year was 35 (2023 - 34).


4.


Intangible assets




Patents, trademarks and licences

£



Cost


At 1 April 2023
29,517



At 31 March 2024

29,517



Amortisation


At 1 April 2023
4,845


Charge for the year
2,952



At 31 March 2024

7,797



Net book value



At 31 March 2024
21,720



At 31 March 2023
24,672



Page 6

 
The Happiness Index Ltd
 
 

Notes to the financial statements
For the year ended 31 March 2024

5.


Tangible fixed assets





Fixtures and fittings
Equipment
Total

£
£
£



Cost 


At 1 April 2023
1,703
36,848
38,551


Additions
-
3,573
3,573



At 31 March 2024

1,703
40,421
42,124



Depreciation


At 1 April 2023
1,524
23,410
24,934


Charge for the year
103
6,515
6,618



At 31 March 2024

1,627
29,925
31,552



Net book value



At 31 March 2024
76
10,496
10,572



At 31 March 2023
179
13,438
13,617


6.


Debtors: amounts falling due within one year

2024
2023
£
£


Trade debtors
320,488
213,423

Prepayments and accrued income
40,743
57,733

Other debtors
170,275
301,674

531,506
572,830


Page 7

 
The Happiness Index Ltd
 
 

Notes to the financial statements
For the year ended 31 March 2024

7.


Creditors: amounts falling due within one year

2024
2023
£
£

Bank loans and overdrafts
10,000
10,000

Trade creditors
13,788
8,549

Accruals and deferred income
626,836
646,318

Social security and other taxes
110,956
87,567

Other creditors
14,704
13,408

776,284
765,842



8.


Creditors: amounts falling due after more than one year

2024
2023
£
£

Bank loans and overdrafts
16,667
26,667

Director's loan account
-
676

Other loans
18,017
77,817

34,684
105,160


Page 8

 
The Happiness Index Ltd
 
 

Notes to the financial statements
For the year ended 31 March 2024

9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
10,000
10,000


10,000
10,000

Amounts falling due 1-2 years

Bank loans
10,000
10,000


10,000
10,000

Amounts falling due 2-5 years

Bank loans
6,667
16,667


6,667
16,667


26,667
36,667



10.


Pension commitments

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from
those of the company in an independently administered fund. The pension cost charge represents contributions
payable by the company to the fund and amounted to £35,594 (2023: £35,100) during the year. Contributions
totalling £7,175 (2023: £6,394) were payable to the fund at 31 March 2024.


Page 9