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Registration number: 13652361

Happinest Homes Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 September 2024

 

Happinest Homes Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

Happinest Homes Ltd

Company Information

Director

Mr David Patrick Llewelyn Lewis

Registered office

1 Market Hill
Calne
Wiltshire
SN11 0BT

Accountants

RiverView Portfolio Limited 1 Market Hill
Calne
Wiltshire
SN11 0BT

 

Happinest Homes Ltd

(Registration number: 13652361)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

775,500

102,000

Current assets

 

Debtors

5

100

4,595

Cash at bank and in hand

 

2,606

1,859

 

2,706

6,454

Creditors: Amounts falling due within one year

6

(51)

(17)

Net current assets

 

2,655

6,437

Total assets less current liabilities

 

778,155

108,437

Creditors: Amounts falling due after more than one year

6

(795,763)

(106,051)

Provisions for liabilities

(5,872)

(916)

Net (liabilities)/assets

 

(23,480)

1,470

Capital and reserves

 

Called up share capital

1,000

1,000

Revaluation reserve

25,033

3,907

Retained earnings

(49,513)

(3,437)

Shareholders' (deficit)/funds

 

(23,480)

1,470

For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the director on 12 June 2025
 

.........................................
Mr David Patrick Llewelyn Lewis
Director

 

Happinest Homes Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
1 Market Hill
Calne
Wiltshire
SN11 0BT

These financial statements were authorised for issue by the director on 12 June 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Happinest Homes Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

2

Accounting policies (continued)

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2023 - 0).

4

Investment properties

2024
£

At 1 October

102,000

Additions

647,418

Fair value adjustments

26,082

At 30 September

775,500

The fair value of the property at 30 September 2024 has been arrived at on the basis of a valuation carried out
at that date by the director of the company, who is not a professionally qualified valuer. The valuation of
£775,500 was arrived at by reference to the market evidence of transaction prices for similar properties in its
location the property is situated.

5

Debtors

2024
£

2023
£

Prepayments

100

2,827

Other debtors

-

1,768

100

4,595

 

Happinest Homes Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

17

17

Accruals and deferred income

34

-

51

17

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7

555,872

76,160

Other non-current financial liabilities

 

239,891

29,891

 

795,763

106,051

7

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

530,200

63,800

Other borrowings

25,672

12,360

555,872

76,160