Company registration number 06477139 (England and Wales)
HAPPY LION MEDIA LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
HAPPY LION MEDIA LIMITED
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 5
HAPPY LION MEDIA LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Property, plant and equipment
4
28,467
29,166
Current assets
Trade and other receivables
5
4,128
2,973
Cash at bank and in hand
2,446
3,936
6,574
6,909
Current liabilities
6
(4,121)
(15,810)
Net current assets/(liabilities)
2,453
(8,901)
Total assets less current liabilities
30,920
20,265
Non-current liabilities
7
(37,666)
(13,293)
Provisions for liabilities
(5,408)
(5,541)
Net (liabilities)/assets
(12,154)
1,431
Equity
Called up share capital
1
1
Retained earnings
(12,155)
1,430
Total equity
(12,154)
1,431

The director of the company has elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved and signed by the director and authorised for issue on 24 April 2025
Mr S Clarke
Director
Company Registration No. 06477139
HAPPY LION MEDIA LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
1
Accounting policies
Company information

Happy Lion Media Limited is a private company limited by shares incorporated in England and Wales. The registered office is c/o David Ridley Associates, Unit 16, Holyrood Close, Poole, Dorset, BH17 7FJ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Revenue

Revenue is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.3
Research and development expenditure

Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

1.4
Property, plant and equipment

Property, plant and equipment are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures, fittings & equipment
15% reducing balance
Computer equipment
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Impairment of non-current assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

HAPPY LION MEDIA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 3 -
1.6
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.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.8
Employee benefits

Where arising the costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The company's holiday year runs to 31 December. Any unused holiday entitlement at the end of the holiday year is not available to carry forward to the following year.

1.9
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

HAPPY LION MEDIA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 4 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
1
1
4
Property, plant and equipment
Plant and machinery etc
£
Cost
At 1 January 2024
61,051
Additions
4,863
At 31 December 2024
65,914
Depreciation and impairment
At 1 January 2024
31,885
Depreciation charged in the year
5,562
At 31 December 2024
37,447
Carrying amount
At 31 December 2024
28,467
At 31 December 2023
29,166
HAPPY LION MEDIA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 5 -
5
Trade and other receivables
2024
2023
Amounts falling due within one year:
£
£
Trade receivables
3,685
1,800
Other receivables
443
1,173
4,128
2,973
6
Current liabilities
2024
2023
£
£
Trade payables
-
0
4,278
Corporation tax
-
0
1,150
Other taxation and social security
7,379
7,095
Other payables
(3,258)
3,287
4,121
15,810
7
Non-current liabilities
2024
2023
£
£
Bank loans and overdrafts
37,666
13,293
2024-12-312024-01-01falsefalsefalse24 April 2025CCH SoftwareCCH Accounts Production 2025.100No description of principal activityMr S Clarke064771392024-01-012024-12-31064771392024-12-31064771392023-12-3106477139core:OtherPropertyPlantEquipment2024-12-3106477139core:OtherPropertyPlantEquipment2023-12-3106477139core:CurrentFinancialInstrumentscore:WithinOneYear2024-12-3106477139core:CurrentFinancialInstrumentscore:WithinOneYear2023-12-3106477139core:CurrentFinancialInstruments2024-12-3106477139core:CurrentFinancialInstruments2023-12-3106477139core:Non-currentFinancialInstruments2024-12-3106477139core:Non-currentFinancialInstruments2023-12-3106477139core:ShareCapital2024-12-3106477139core:ShareCapital2023-12-3106477139core:RetainedEarningsAccumulatedLosses2024-12-3106477139core:RetainedEarningsAccumulatedLosses2023-12-3106477139bus:Director12024-01-012024-12-3106477139core:FurnitureFittings2024-01-012024-12-3106477139core:ComputerEquipment2024-01-012024-12-31064771392023-01-012023-12-3106477139core:OtherPropertyPlantEquipment2023-12-3106477139core:OtherPropertyPlantEquipment2024-01-012024-12-3106477139core:WithinOneYear2024-12-3106477139core:WithinOneYear2023-12-3106477139bus:PrivateLimitedCompanyLtd2024-01-012024-12-3106477139bus:FRS1022024-01-012024-12-3106477139bus:AuditExemptWithAccountantsReport2024-01-012024-12-3106477139bus:SmallCompaniesRegimeForAccounts2024-01-012024-12-3106477139bus:FullAccounts2024-01-012024-12-31xbrli:purexbrli:sharesiso4217:GBP