THE HAPPY CULTURE LTD

Company Registration Number:
11837299 (England and Wales)

Unaudited statutory accounts for the year ended 29 February 2024

Period of accounts

Start date: 1 March 2023

End date: 29 February 2024

THE HAPPY CULTURE LTD

Contents of the Financial Statements

for the Period Ended 29 February 2024

Balance sheet
Additional notes
Balance sheet notes

THE HAPPY CULTURE LTD

Balance sheet

As at 29 February 2024

Notes 2024 2023


£

£
Fixed assets
Tangible assets: 3 2,288 19,206
Total fixed assets: 2,288 19,206
Current assets
Debtors: 4 29,923 53,213
Cash at bank and in hand: 279,431 79,508
Total current assets: 309,354 132,721
Creditors: amounts falling due within one year: 5 ( 68,625 ) ( 35,209 )
Net current assets (liabilities): 240,729 97,512
Total assets less current liabilities: 243,017 116,718
Creditors: amounts falling due after more than one year: 6 ( 4,500 ) ( 13,022 )
Total net assets (liabilities): 238,517 103,696
Capital and reserves
Called up share capital: 2 2
Profit and loss account: 238,515 103,694
Total Shareholders' funds: 238,517 103,696

The notes form part of these financial statements

THE HAPPY CULTURE LTD

Balance sheet statements

For the year ending 29 February 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen not to file a copy of the company's profit and loss account.

This report was approved by the board of directors on 19 November 2024
and signed on behalf of the board by:

Name: Mirko Parmigiani
Status: Director

The notes form part of these financial statements

THE HAPPY CULTURE LTD

Notes to the Financial Statements

for the Period Ended 29 February 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.

    Tangible fixed assets depreciation policy

    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 - over 4 years, Office equipment - over 4 years.

    Other accounting policies

    Debtors - Short term debtors are measured at transaction 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. 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. Leased assets - Operating lease payments are recognised as an expense on a straight line basis over the lease term. Pensions - Contributions to defined contribution plans are expensed in the period to which they relate.

THE HAPPY CULTURE LTD

Notes to the Financial Statements

for the Period Ended 29 February 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 3 4

THE HAPPY CULTURE LTD

Notes to the Financial Statements

for the Period Ended 29 February 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 March 2023 36,146 4,678 40,824
Additions 372 372
Disposals ( 36,146 ) ( 36,146 )
Revaluations
Transfers
At 29 February 2024 0 5,050 5,050
Depreciation
At 1 March 2023 20,118 1,500 21,618
Charge for year 1,262 1,262
On disposals ( 20,118 ) ( 20,118 )
Other adjustments
At 29 February 2024 0 2,762 2,762
Net book value
At 29 February 2024 0 2,288 2,288
At 28 February 2023 16,028 3,178 19,206

THE HAPPY CULTURE LTD

Notes to the Financial Statements

for the Period Ended 29 February 2024

4. Debtors

2024 2023
£ £
Trade debtors 29,923 27,660
Other debtors 25,553
Total 29,923 53,213

THE HAPPY CULTURE LTD

Notes to the Financial Statements

for the Period Ended 29 February 2024

5. Creditors: amounts falling due within one year note

2024 2023
£ £
Bank loans and overdrafts 3,600 3,600
Amounts due under finance leases and hire purchase contracts 2,461
Trade creditors 229 229
Taxation and social security 56,684 21,398
Other creditors 8,112 7,521
Total 68,625 35,209

THE HAPPY CULTURE LTD

Notes to the Financial Statements

for the Period Ended 29 February 2024

6. Creditors: amounts falling due after more than one year note

2024 2023
£ £
Bank loans and overdrafts 4,500 8,100
Amounts due under finance leases and hire purchase contracts 4,922
Total 4,500 13,022