IRIS Accounts Production v24.3.2.46 08573597 director 1.4.23 31.3.24 31.3.24 0 0 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh085735972023-03-31085735972024-03-31085735972023-04-012024-03-31085735972022-03-31085735972022-04-012023-03-31085735972023-03-3108573597ns15:EnglandWales2023-04-012024-03-3108573597ns14:PoundSterling2023-04-012024-03-3108573597ns10:Director12023-04-012024-03-3108573597ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3108573597ns10:SmallEntities2023-04-012024-03-3108573597ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3108573597ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3108573597ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3108573597ns10:FullAccounts2023-04-012024-03-3108573597ns10:CompanySecretary12023-04-012024-03-3108573597ns10:RegisteredOffice2023-04-012024-03-3108573597ns5:CurrentFinancialInstruments2024-03-3108573597ns5:CurrentFinancialInstruments2023-03-3108573597ns5:Non-currentFinancialInstruments2024-03-3108573597ns5:Non-currentFinancialInstruments2023-03-3108573597ns5:ShareCapital2024-03-3108573597ns5:ShareCapital2023-03-3108573597ns5:RetainedEarningsAccumulatedLosses2024-03-3108573597ns5:RetainedEarningsAccumulatedLosses2023-03-3108573597ns5:WithinOneYearns5:CurrentFinancialInstruments2024-03-3108573597ns5:WithinOneYearns5:CurrentFinancialInstruments2023-03-3108573597ns5:Secured2024-03-3108573597ns5:Secured2023-03-31
REGISTERED NUMBER: 08573597 (England and Wales)













FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

THE HAPPY LETTINGS COMPANY LTD

THE HAPPY LETTINGS COMPANY LTD (REGISTERED NUMBER: 08573597)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


THE HAPPY LETTINGS COMPANY LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: S K Lam





SECRETARY: Mrs S M Lam





REGISTERED OFFICE: 4 Ellenbrook Green
Ipswich
Suffolk
IP2 9RR





REGISTERED NUMBER: 08573597 (England and Wales)





ACCOUNTANTS: Connah Goldsworthy
Chartered Certified Accountants
12 Station Court
Station Approach
Wickford
Essex
SS11 7AT

THE HAPPY LETTINGS COMPANY LTD (REGISTERED NUMBER: 08573597)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 2,268,845 2,268,845

CURRENT ASSETS
Debtors 5 8,853 8,795
Cash at bank 24,209 19,244
33,062 28,039
CREDITORS
Amounts falling due within one year 6 1,494,957 1,383,291
NET CURRENT LIABILITIES (1,461,895 ) (1,355,252 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

806,950

913,593

CREDITORS
Amounts falling due after more than one
year

7

(238,547

)

(370,091

)

PROVISIONS FOR LIABILITIES (51,122 ) (51,122 )
NET ASSETS 517,281 492,380

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 517,181 492,280
SHAREHOLDERS' FUNDS 517,281 492,380

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 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 22 March 2025 and were signed by:





S K Lam - Director


THE HAPPY LETTINGS COMPANY LTD (REGISTERED NUMBER: 08573597)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

The Happy Lettings Company Ltd 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 as modified by the revaluation of certain assets.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 NIL (2023 - NIL).

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 2,268,845
NET BOOK VALUE
At 31 March 2024 2,268,845
At 31 March 2023 2,268,845

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2020 1,664,124
Valuation in 2021 356,876
Valuation in 2022 (449,000 )
Valuation in 2023 696,845
2,268,845

THE HAPPY LETTINGS COMPANY LTD (REGISTERED NUMBER: 08573597)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. INVESTMENT PROPERTY - continued

If investment property had not been revalued it would have been included at the following historical cost:

31.3.24 31.3.23
£    £   
Cost 1,999,782 1,999,782

Investment property was valued on an open market basis on 31 March 2023 by the directors of the company .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Other debtors 8,853 8,795

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 58,401 55,458
Amounts owed to participating interests 1,410,785 1,310,785
Taxation and social security 7,703 1,499
Other creditors 18,068 15,549
1,494,957 1,383,291

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans 238,547 370,091

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 46,017 146,977

8. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Bank loans 296,948 425,549

A Legal charge has been given to Barclays Bank over the freehold lands known as 34 Clarence Road, Grays, Essex RM17 6QJ and 47 Hampden Road, Grays, Essex RM17 5JN

9. OTHER FINANCIAL COMMITMENTS

A cross guarantee and debenture has been made in favour of Barclays Bank plc between the company and its parent company, The Lamson Investment (Europe) Ltd and fellow subsidiary Lamson Limited, as security for for all liabilities due to the bank.

10. ULTIMATE CONTROLLING PARTY

The controlling party is S K Lam.