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Registered number: 10512930
Happity Ltd
Unaudited Financial Statements
For The Year Ended 31 May 2024
KFH Accounting Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 10512930
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 178,759 132,000
Tangible Assets 5 1,284 2,221
Investments 6 100 100
180,143 134,321
CURRENT ASSETS
Debtors 24,518 13,556
Cash at bank and in hand 306,527 231,573
331,045 245,129
Creditors: Amounts Falling Due Within One Year (43,173 ) (29,055 )
NET CURRENT ASSETS (LIABILITIES) 287,872 216,074
TOTAL ASSETS LESS CURRENT LIABILITIES 468,015 350,395
Creditors: Amounts Falling Due After More Than One Year (152,998 ) (147,708 )
NET ASSETS 315,017 202,687
CAPITAL AND RESERVES
Called up share capital 7 31 28
Share premium account 1,386,119 930,612
Profit and Loss Account (1,071,133 ) (727,953 )
SHAREHOLDERS' FUNDS 315,017 202,687
Page 1
Page 2
For the year ending 31 May 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs Sara Tateno
Director
25/02/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Happity Ltd Registered number 10512930 is a limited by shares company incorporated in England & Wales. The Registered Office is 85 Great Portland Street, London, W1W 7LT.


2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006. The director is of the opinion the company is trading as a going concern.
2.2. Turnover
Turnover comprises the invoiced value of services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are associated with website development costs. These costs are amortised to the profit and loss account over its estimated economic life of 5 years.
2.4. Research and Development
The company has an accounting policy that spend on research and development is capitalised as an intangible asset and written off over five years but treated as revenue expenditure for the purposes of taxation.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 3 Years
Computer Equipment 3 Years
2.6. Foreign Currencies
Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.7. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 10 12
10 12
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4. Intangible Assets
Other
£
Cost
As at 1 June 2023 247,373
Additions 91,897
As at 31 May 2024 339,270
Amortisation
As at 1 June 2023 115,373
Provided during the period 45,138
As at 31 May 2024 160,511
Net Book Value
As at 31 May 2024 178,759
As at 1 June 2023 132,000
5. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 June 2023 356 4,806 5,162
As at 31 May 2024 356 4,806 5,162
Depreciation
As at 1 June 2023 208 2,733 2,941
Provided during the period 71 866 937
As at 31 May 2024 279 3,599 3,878
Net Book Value
As at 31 May 2024 77 1,207 1,284
As at 1 June 2023 148 2,073 2,221
6. Investments
Unlisted
£
Cost
As at 1 June 2023 100
As at 31 May 2024 100
Provision
As at 1 June 2023 -
As at 31 May 2024 -
Net Book Value
As at 31 May 2024 100
As at 1 June 2023 100
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Page 5
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 31 28
8. Additional notes to the accounts
Debtors
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.
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