Registered number
10597730
Happy Dragon Limited
Unaudited Filleted Accounts
31 March 2024
Happy Dragon Limited
Registered number: 10597730
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £ £ £
Fixed assets
Tangible assets 3 734 918
Current assets
Stocks 1,100 1,100
Debtors 4 11,670 10,990
Cash at bank and in hand 5,223 9,243
17,993 21,333
Creditors: amounts falling due within one year 5 (18,410) (21,091)
Net current (liabilities)/assets (417) 242
Net assets 317 1,160
Capital and reserves
Called up share capital 1 1
Profit and loss account 316 1,159
Shareholder's funds 317 1,160
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Wai H E Chui
Director
Approved by the board on 14 October 2024
Happy Dragon Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods which is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 20% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 4 4
3 Tangible fixed assets
Plant and machinery
£
Cost
At 1 April 2023 3,500
At 31 March 2024 3,500
Depreciation
At 1 April 2023 2,582
Charge for the year 184
At 31 March 2024 2,766
Net book value
At 31 March 2024 734
At 31 March 2023 918
4 Debtors 2024 2023
£ £
Other debtors 11,670 10,990
5 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 5,403 6,133
Other creditors 13,007 14,958
18,410 21,091
6 Other information
Happy Dragon Limited is a private company limited by shares and incorporated in England. Its registered office is:
20 Perry Street
Northfleet
Gravesend
Kent
DA11 8QU
Happy Dragon Limited 10597730 false 2023-04-01 2024-03-31 2024-03-31 VT Final Accounts July 2024 Mr Wai H E Chui No description of principal activity 10597730 2022-04-01 2023-03-31 10597730 core:WithinOneYear 2023-03-31 10597730 core:ShareCapital 2023-03-31 10597730 core:RetainedEarningsAccumulatedLosses 2023-03-31 10597730 2023-04-01 2024-03-31 10597730 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 10597730 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 10597730 bus:Director40 2023-04-01 2024-03-31 10597730 1 2023-04-01 2024-03-31 10597730 2 2023-04-01 2024-03-31 10597730 core:PlantMachinery 2023-04-01 2024-03-31 10597730 countries:England 2023-04-01 2024-03-31 10597730 bus:FRS102 2023-04-01 2024-03-31 10597730 bus:FilletedAccounts 2023-04-01 2024-03-31 10597730 2024-03-31 10597730 core:WithinOneYear 2024-03-31 10597730 core:ShareCapital 2024-03-31 10597730 core:RetainedEarningsAccumulatedLosses 2024-03-31 10597730 core:PlantMachinery 2024-03-31 10597730 2023-03-31 10597730 core:PlantMachinery 2023-03-31 iso4217:GBP xbrli:pure