Company Registration No. 10464507 (England and Wales)
Happy River Ltd
Unaudited accounts
for the year ended 31 March 2024
Happy River Ltd
Unaudited accounts
Contents
Happy River Ltd
Company Information
for the year ended 31 March 2024
Directors
Rachel Louise Bright
Robert Steven Price
Company Number
10464507 (England and Wales)
Registered Office
2 Russell Street
Bath
Somerset
BA1 2QF
ENGLAND
Accountants
Link Stone Advisory Limited
2 Russell Street
Bath
BA1 2QF
Happy River Ltd
Statement of financial position
as at 31 March 2024
Called up share capital not paid
20
20
Tangible assets
233,820
259,852
Cash at bank and in hand
54,121
36,389
Creditors: amounts falling due within one year
(269,280)
(262,747)
Net current liabilities
(212,391)
(223,444)
Total assets less current liabilities
21,449
36,428
Creditors: amounts falling due after more than one year
(66,497)
(74,810)
Net liabilities
(45,048)
(38,382)
Called up share capital
20
20
Profit and loss account
(45,068)
(38,402)
Shareholders' funds
(45,048)
(38,382)
For the year ending 31 March 2024 the company was entitled to exemption from audit 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 12 November 2024 and were signed on its behalf by
Rachel Louise Bright
Director
Company Registration No. 10464507
Happy River Ltd
Notes to the Accounts
for the year ended 31 March 2024
Happy River Ltd is a private company, limited by shares, registered in England and Wales, registration number 10464507. The registered office is 2 Russell Street, Bath, Somerset, BA1 2QF, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
10 years straight line
Plant & machinery
5 years straight line
Fixtures & fittings
5 years straight line
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future because the shareholders have committed to support the business for at least one year from the date of these accounts being signed. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
Happy River Ltd
Notes to the Accounts
for the year ended 31 March 2024
4
Tangible fixed assets
Land & buildings
Plant & machinery
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 1 April 2023
245,573
47,912
632
294,117
Additions
8,175
372
-
8,547
At 31 March 2024
253,748
48,284
632
302,664
At 1 April 2023
24,557
9,582
126
34,265
Charge for the year
24,859
9,594
126
34,579
At 31 March 2024
49,416
19,176
252
68,844
At 31 March 2024
204,332
29,108
380
233,820
At 31 March 2023
221,016
38,330
506
259,852
Amounts falling due within one year
Accrued income and prepayments
980
1,058
6
Creditors: amounts falling due within one year
2024
2023
Other creditors
255,924
250,924
Loans from directors
1,936
1,479
Deferred income
4,464
4,405
7
Creditors: amounts falling due after more than one year
2024
2023
Deferred income
66,497
74,810
8
Transactions with related parties
At the year end date, there is a loan from a related party entity included within other creditors for £255,474. Interest is being charged on the loan at 2% per annum. The loan is repayable on demand.
During the year rent of £7,980 has been paid to a Director for a commercial property.
9
Average number of employees
During the year the average number of employees was 0 (2023: 0).