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REGISTERED NUMBER: 09658948 (England and Wales)










Report of the Directors and

Unaudited Consolidated Financial Statements for the Year Ended 30 June 2024

for

The Happy Consultancy Group Limited

The Happy Consultancy Group Limited (Registered number: 09658948)






Contents of the Consolidated Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Report of the Directors 2

Consolidated Income Statement 3

Consolidated Balance Sheet 4

Company Balance Sheet 6

Consolidated Statement of Changes in Equity 8

Company Statement of Changes in Equity 9

Notes to the Consolidated Financial Statements 10


The Happy Consultancy Group Limited

Company Information
for the Year Ended 30 June 2024







DIRECTORS: A D Fisher
Mrs H J Lawrence





REGISTERED OFFICE: Swift House, Ground Floor
18 Hoffmanns Way
Chelmsford
Essex
CM1 1GU





REGISTERED NUMBER: 09658948 (England and Wales)





ACCOUNTANTS: Affinia
Swift House, Ground Floor
18 Hoffmanns Way
Chelmsford
Essex
CM1 1GU

The Happy Consultancy Group Limited (Registered number: 09658948)

Report of the Directors
for the Year Ended 30 June 2024

The directors present their report with the financial statements of the company and the group for the year ended 30 June 2024.

REVIEW OF BUSINESS
As a result of the Directors' ambitious international growth plans, to achieve revenues in excess of £1million, and take advantage of increased business opportunity in SE Asia, (following a large-scale 5-year contract, secured with Malaysia's National Postal Service), the Directors' decided to set up a new subsidiary company. The subsidiary company is The Happy Consultancy Group Sdn Bhd in Malaysia and was incorporated on 15 July 2022.

As a result, significant set up costs were incurred as the Group revenues increased. The Group has built a thriving overseas team, supported by the UK business. During the year, investment was made to support the set-up of the new Group infrastructure, including the recruitment of additional staff, to support the business growth. The Directors' believe that by incurring these significant additional costs now, the business will be able to achieve the revenue growth that is anticipated and result in a more profitable Group going forward

EVENTS SINCE THE END OF THE YEAR
Information relating to events since the end of the year is given in the notes to the financial statements.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 July 2023 to the date of this report.

A D Fisher
Mrs H J Lawrence

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





Mrs H J Lawrence - Director


2 June 2025

The Happy Consultancy Group Limited (Registered number: 09658948)

Consolidated
Income Statement
for the Year Ended 30 June 2024

30.6.23 30.6.24
£    Notes £   

1,232,031 TURNOVER 992,554

454,523 Cost of sales 316,126
777,508 GROSS PROFIT 676,428

643,399 Administrative expenses 794,130
134,109 (117,702 )

341 Other operating income 101
134,450 OPERATING (LOSS)/PROFIT 4 (117,601 )

107 Interest receivable and similar income 10
134,557 (117,591 )

247 Interest payable and similar expenses 1,715
134,310 (LOSS)/PROFIT BEFORE TAXATION (119,306 )

20,441 Tax on (loss)/profit (184 )
113,869 (LOSS)/PROFIT FOR THE FINANCIAL
YEAR

(119,122

)

(Loss)/profit attributable to:
113,869 Owners of the parent (119,122 )

The Happy Consultancy Group Limited (Registered number: 09658948)

Consolidated Balance Sheet
30 June 2024

30.6.23 30.6.24
£    £    Notes £    £   
FIXED ASSETS
3,684 Tangible assets 7 3,320
- Investments 8 -
3,684 3,320

CURRENT ASSETS
- Stocks 28,462
311,555 Debtors 9 140,687
1,992 Cash at bank 1,395
313,547 170,544
CREDITORS
264,164 Amounts falling due within one year 10 257,149
49,383 NET CURRENT (LIABILITIES)/ASSETS (86,605 )
53,067 TOTAL ASSETS LESS CURRENT
LIABILITIES

(83,285

)

CREDITORS
- Amounts falling due after more than one
year

11

(31,954

)

(751 ) PROVISIONS FOR LIABILITIES (567 )
52,316 NET (LIABILITIES)/ASSETS (115,806 )

CAPITAL AND RESERVES
2 Called up share capital 2
52,314 Retained earnings (115,808 )
52,316 SHAREHOLDERS' FUNDS (115,806 )

The company and the group are entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company and the group to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a) ensuring that the group 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 and the group as at the end of each financial year and of the group's 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 and the group.

The Happy Consultancy Group Limited (Registered number: 09658948)

Consolidated Balance Sheet - continued
30 June 2024


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

The financial statements were approved by the Board of Directors and authorised for issue on 2 June 2025 and were signed on its behalf by:





Mrs H J Lawrence - Director


The Happy Consultancy Group Limited (Registered number: 09658948)

Company Balance Sheet
30 June 2024

30.6.23 30.6.24
£    £    Notes £    £   
FIXED ASSETS
3,684 Tangible assets 7 2,983
169,420 Investments 8 169,420
173,104 172,403

CURRENT ASSETS
- Stocks 28,462
130,337 Debtors 9 31,635
1,992 Cash at bank 2
132,329 60,099
CREDITORS
345,391 Amounts falling due within one year 10 378,371
(213,062 ) NET CURRENT LIABILITIES (318,272 )
(39,958 ) TOTAL ASSETS LESS CURRENT
LIABILITIES

(145,869

)

CREDITORS
- Amounts falling due after more than one
year

11

(31,954

)

(751 ) PROVISIONS FOR LIABILITIES (567 )
(40,709 ) NET LIABILITIES (178,390 )

CAPITAL AND RESERVES
2 Called up share capital 2
(40,711 ) Retained earnings (178,392 )
(40,709 ) SHAREHOLDERS' FUNDS (178,390 )

20,845 Company's (loss)/profit for the financial year (88,681 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Happy Consultancy Group Limited (Registered number: 09658948)

Company Balance Sheet - continued
30 June 2024


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

The financial statements were approved by the Board of Directors and authorised for issue on 2 June 2025 and were signed on its behalf by:





Mrs H J Lawrence - Director


The Happy Consultancy Group Limited (Registered number: 09658948)

Consolidated Statement of Changes in Equity
for the Year Ended 30 June 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 July 2022 2 144,945 144,947

Changes in equity
Dividends - (206,500 ) (206,500 )
Total comprehensive income - 113,869 113,869
Balance at 30 June 2023 2 52,314 52,316

Changes in equity
Dividends - (49,000 ) (49,000 )
Total comprehensive income - (119,122 ) (119,122 )
Balance at 30 June 2024 2 (115,808 ) (115,806 )

The Happy Consultancy Group Limited (Registered number: 09658948)

Company Statement of Changes in Equity
for the Year Ended 30 June 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 July 2022 2 144,944 144,946

Changes in equity
Dividends - (206,500 ) (206,500 )
Total comprehensive income - 20,845 20,845
Balance at 30 June 2023 2 (40,711 ) (40,709 )

Changes in equity
Dividends - (49,000 ) (49,000 )
Total comprehensive income - (88,681 ) (88,681 )
Balance at 30 June 2024 2 (178,392 ) (178,390 )

The Happy Consultancy Group Limited (Registered number: 09658948)

Notes to the Consolidated Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

The Happy Consultancy Group 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 General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Basis of consolidation
The consolidated financial statements present the results of the Company and its own subsidiaries ('the Group') as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.

The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Statement of Financial Position, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated Statement of Comprehensive Income from the date on which control is obtained. They are deconsolidated from the date control ceases.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

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 each asset over its estimated useful life.
Plant and machinery etc - 33% on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.


The Happy Consultancy Group Limited (Registered number: 09658948)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 8 ) .

The average number of employees by undertakings that were proportionately consolidated during the year was 8 (2023 - 3 ) .

4. OPERATING (LOSS)/PROFIT

The operating loss (2023 - operating profit) is stated after charging:

30.6.24 30.6.23
£    £   
Depreciation - owned assets 3,084 2,014

5. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


The Happy Consultancy Group Limited (Registered number: 09658948)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 June 2024

6. DIVIDENDS
30.6.24 30.6.23
£    £   
Ordinary shares of £1 each
Interim 49,000 206,500

7. TANGIBLE FIXED ASSETS

Group
Plant and
machinery
etc
£   
COST
At 1 July 2023 9,110
Additions 2,720
At 30 June 2024 11,830
DEPRECIATION
At 1 July 2023 5,426
Charge for year 3,084
At 30 June 2024 8,510
NET BOOK VALUE
At 30 June 2024 3,320
At 30 June 2023 3,684

Company
Plant and
machinery
etc
£   
COST
At 1 July 2023 9,110
Additions 2,295
At 30 June 2024 11,405
DEPRECIATION
At 1 July 2023 5,426
Charge for year 2,996
At 30 June 2024 8,422
NET BOOK VALUE
At 30 June 2024 2,983
At 30 June 2023 3,684

The Happy Consultancy Group Limited (Registered number: 09658948)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 June 2024

8. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertakings
£   
COST
At 1 July 2023
and 30 June 2024 169,420
NET BOOK VALUE
At 30 June 2024 169,420
At 30 June 2023 169,420


The investment represents a 100% shareholding in The Happy Consultancy Group SDN.BHD.

9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
30.6.24 30.6.23 30.6.24 30.6.23
£    £    £    £   
Trade debtors 100,731 283,131 - 105,705
Other debtors 39,956 28,424 31,635 24,632
140,687 311,555 31,635 130,337

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
30.6.24 30.6.23 30.6.24 30.6.23
£    £    £    £   
Bank loans and overdrafts 92,870 5,261 92,870 42,320
Trade creditors 19,648 11,003 - 957
Amounts owed to group undertakings - - 144,136 244,185
Taxation and social security 61,784 61,474 61,784 41,397
Other creditors 82,847 186,426 79,581 16,532
257,149 264,164 378,371 345,391

11. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

Group Company
30.6.24 30.6.23 30.6.24 30.6.23
£    £    £    £   
Bank loans 31,954 - 31,954 -

The Happy Consultancy Group Limited (Registered number: 09658948)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 June 2024

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 June 2024 and 30 June 2023:

30.6.24 30.6.23
£    £   
Mrs H J Lawrence
Balance outstanding at start of year 944 903
Amounts advanced (23,337 ) 41
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (22,393 ) 944

A D Fisher
Balance outstanding at start of year 116 430
Amounts advanced (13,417 ) (314 )
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (13,301 ) 116

13. POST BALANCE SHEET EVENTS

There were no post balance sheet events that require being brought to the attention of the shareholders or creditors.

14. GOING CONCERN

At the 30 June 2024 the group had a net deficiency of assets of £115,806 The directors have undertaken to support the group financially until the situation has been fully redressed. It is therefore deemed appropriate to prepare the financial statements on the going concern basis.