| Registered Number:SC212232 |
For the year ended 31 October 2024
Scotland
Unaudited Financial Statements
For the year ended 31 October 2024
Happyworm Limited
Contents Page
1
Statement of Financial Position
2 to 3
Notes to the Financial Statements
Happyworm Limited
Statement of Financial Position
2023
2024
| Property, plant and equipment |
2,506
2,874
2
2,506
2,874
| Trade and other receivables |
248
323
3
8,502
| Cash and cash equivalents |
6,888
7,211
8,750
| Trade and other payables: amounts falling due within one |
| year |
(3,008)
(3,008)
4
5,742
4,203
Net current assets
| Total assets less current liabilities |
6,709
8,616
6,709
Net assets
8,616
2
2
6,707
8,614
6,709
8,616
Shareholders' funds
| For the year ended 31 October 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 of its financial statements for the year ended 31 October 2024 in accordance with Section 476 of the Companies Act 2006 |
| The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section |
| 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. |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. |
| Mark Panaghiston Director |
| These financial statements were approved and authorised for issue by the Board on 16 June 2025 and were signed by: |
| The notes form part of these financial statements |
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For the year ended 31 October 2024
Happyworm Limited
Notes to the Financial Statements
Statutory Information
| Happyworm Limited is a private limited company, limited by shares, domiciled in Scotland, registration number |
| SC212232. |
215/6 Gorgie Road
Edinburgh
EH11 1TU
| The presentation currency is £ sterling. |
Basis of preparing the financial statements
| These financial statements have been prepared in accordance with the provisions of Section 1A of Financial |
| Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the |
| Companies Act 2006. The financial statements have been prepared under the historical costs convention as |
| modified by the revaluation of certain assets. |
Revenue recognition
| Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts. |
Property, plant and equipment
| Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: |
Computer equipment
Fixtures and fittings
Hire purchase and leasing commitments
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
| 2. Property, plant and equipment |
44,377
43,336
1,041
358
358
-
1,041
43,694
44,735
| Provision for depreciation and impairment |
41,503
40,462
1,041
Charge for year
726
726
-
42,229
41,188
1,041
-
2,506
2,506
-
2,874
2,874
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For the year ended 31 October 2024
Happyworm Limited
Notes to the Financial Statements Continued
| 3. Trade and other receivables |
2023
2024
323
248
| Short-term debtors are measured at fair value at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and measured subsequently at amortised cost using the effective interest method, less any impairment. |
| 4. Trade and other payables: amounts falling due within one year |
2023
2024
3,008
3,008
| Short-term creditors are measured at the transaction price. Other financial laibilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. |
| 5. Average number of persons employed |
During the year the average number of employees was 0
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