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REGISTERED NUMBER: SC587776 (Scotland)














UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

THE HAPPY HANGOVER COMPANY LIMITED

THE HAPPY HANGOVER COMPANY LIMITED (REGISTERED NUMBER: SC587776)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


THE HAPPY HANGOVER COMPANY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTOR: J Gallagher





REGISTERED OFFICE: Kimberley Tavern
1137 Tollcross Road
Glasgow
Strathclyde
G32 8HB





REGISTERED NUMBER: SC587776 (Scotland)





ACCOUNTANTS: Henry Brown & Co
Chartered Accountants
26 Portland Road
Kilmarnock
Ayrshire
KA1 2EB

THE HAPPY HANGOVER COMPANY LIMITED (REGISTERED NUMBER: SC587776)

BALANCE SHEET
29 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 11,268 14,085

CURRENT ASSETS
Stocks 3,344 3,344
Debtors 5 9,116 11,791
Cash at bank and in hand 18,499 15,241
30,959 30,376
CREDITORS
Amounts falling due within one year 6 44,123 33,345
NET CURRENT LIABILITIES (13,164 ) (2,969 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(1,896

)

11,116

CREDITORS
Amounts falling due after more than one
year

7

19,167

25,000
NET LIABILITIES (21,063 ) (13,884 )

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (21,064 ) (13,885 )
(21,063 ) (13,884 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

THE HAPPY HANGOVER COMPANY LIMITED (REGISTERED NUMBER: SC587776)

BALANCE SHEET - continued
29 FEBRUARY 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 25 November 2024 and were signed by:





J Gallagher - Director


THE HAPPY HANGOVER COMPANY LIMITED (REGISTERED NUMBER: SC587776)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1. STATUTORY INFORMATION

The Happy Hangover Company Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


The financial statements relate to a single company.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

THE HAPPY HANGOVER COMPANY LIMITED (REGISTERED NUMBER: SC587776)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 March 2023
and 29 February 2024 28,508
DEPRECIATION
At 1 March 2023 14,423
Charge for year 2,817
At 29 February 2024 17,240
NET BOOK VALUE
At 29 February 2024 11,268
At 28 February 2023 14,085

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 9,116 11,791

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 5,054 5,593
Taxation and social security 1,151 981
Other creditors 27,918 16,771
44,123 33,345

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 19,167 25,000

THE HAPPY HANGOVER COMPANY LIMITED (REGISTERED NUMBER: SC587776)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 29 February 2024 and 28 February 2023:

2024 2023
£    £   
J Gallagher
Balance outstanding at start of year 2,692 6,069
Amounts advanced 1,794 -
Amounts repaid (2,870 ) (3,377 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 1,616 2,692