IRIS Accounts Production v24.3.0.553 09442590 director 1.3.23 29.2.24 29.2.24 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh094425902023-02-28094425902024-02-29094425902023-03-012024-02-29094425902022-02-28094425902022-03-012023-02-28094425902023-02-2809442590ns15:EnglandWales2023-03-012024-02-2909442590ns14:PoundSterling2023-03-012024-02-2909442590ns10:Director12023-03-012024-02-2909442590ns10:PrivateLimitedCompanyLtd2023-03-012024-02-2909442590ns10:SmallEntities2023-03-012024-02-2909442590ns10:AuditExempt-NoAccountantsReport2023-03-012024-02-2909442590ns10:SmallCompaniesRegimeForDirectorsReport2023-03-012024-02-2909442590ns10:SmallCompaniesRegimeForAccounts2023-03-012024-02-2909442590ns10:AbridgedAccounts2023-03-012024-02-2909442590ns10:OrdinaryShareClass12023-03-012024-02-2909442590ns10:RegisteredOffice2023-03-012024-02-2909442590ns5:CurrentFinancialInstruments2024-02-2909442590ns5:CurrentFinancialInstruments2023-02-2809442590ns5:ShareCapital2024-02-2909442590ns5:ShareCapital2023-02-2809442590ns5:RetainedEarningsAccumulatedLosses2024-02-2909442590ns5:RetainedEarningsAccumulatedLosses2023-02-2809442590ns5:PlantMachinery2023-03-012024-02-2909442590ns5:FurnitureFittings2023-03-012024-02-2909442590ns5:WithinOneYear2024-02-2909442590ns5:WithinOneYear2023-02-2809442590ns5:DeferredTaxation2023-02-2809442590ns5:DeferredTaxation2023-03-012024-02-2909442590ns5:DeferredTaxation2024-02-2909442590ns10:OrdinaryShareClass12024-02-29094425901ns10:Director12023-02-28094425901ns10:Director12022-02-28094425901ns10:Director12023-03-012024-02-29094425901ns10:Director12022-03-012023-02-28094425901ns10:Director12024-02-29094425901ns10:Director12023-02-28
REGISTERED NUMBER: 09442590 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

29 FEBRUARY 2024

FOR

Happy Horse Saddlery Limited

Happy Horse Saddlery Limited (Registered number: 09442590)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 29 February 2024










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Happy Horse Saddlery Limited

COMPANY INFORMATION
for the Year Ended 29 February 2024







DIRECTOR: Miss A Lea





REGISTERED OFFICE: Potash Farm
Vallery Farm Road
Melton
Woodbridge
Suffolk
IP12 1LJ





REGISTERED NUMBER: 09442590 (England and Wales)





ACCOUNTANTS: Wingfield Accountancy Services Limited
Chartered Certified Accountants
Brindle Place
Syleham Road
Diss
Norfolk
IP21 5RF

Happy Horse Saddlery Limited (Registered number: 09442590)

ABRIDGED BALANCE SHEET
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 21,508 11,230

CURRENT ASSETS
Stocks 199,172 192,942
Debtors 16,388 31,526
Cash at bank and in hand 40,413 21,803
255,973 246,271
CREDITORS
Amounts falling due within one year 82,737 83,864
NET CURRENT ASSETS 173,236 162,407
TOTAL ASSETS LESS CURRENT
LIABILITIES

194,744

173,637

PROVISIONS FOR LIABILITIES 6 3,515 2,047
NET ASSETS 191,229 171,590

CAPITAL AND RESERVES
Called up share capital 7 1 1
Retained earnings 191,228 171,589
SHAREHOLDERS' FUNDS 191,229 171,590

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 her 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.

Happy Horse Saddlery Limited (Registered number: 09442590)

ABRIDGED 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 29 February 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 22 November 2024 and were signed by:





Miss A Lea - Director


Happy Horse Saddlery Limited (Registered number: 09442590)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 29 February 2024


1. STATUTORY INFORMATION

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

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 the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 3% straight line

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

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.


Happy Horse Saddlery Limited (Registered number: 09442590)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 29 February 2024


2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 4 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 March 2023 32,051
Additions 15,594
At 29 February 2024 47,645
DEPRECIATION
At 1 March 2023 20,821
Charge for year 5,316
At 29 February 2024 26,137
NET BOOK VALUE
At 29 February 2024 21,508
At 28 February 2023 11,230

Happy Horse Saddlery Limited (Registered number: 09442590)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 29 February 2024


5. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 320 799

6. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 3,515 2,047

Deferred
tax
£   
Balance at 1 March 2023 2,047
Charge to Income Statement during year 1,468
Balance at 29 February 2024 3,515

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1 Ordinary 1 1 1

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
£    £   
Miss A Lea
Balance outstanding at start of year 29,919 24,138
Amounts advanced 35,805 36,093
Amounts repaid (51,691 ) (30,312 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 14,033 29,919

Interest is charged on overdrawn balances at HMRC official rates and the loan is repayable on demand.

9. ULTIMATE CONTROLLING PARTY

The controlling party is Miss A Lea.