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Registration number: 13273130

Happy Hearts Foster Care Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 March 2025

 

Happy Hearts Foster Care Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Happy Hearts Foster Care Limited

Company Information

Directors

Rizwan Khan

Nayla Khan

Registered office

Radclyffe House
66-68 Hagley Road
Birmingham
West Midlands
B16 8PF

Accountants

James Thompson t/a AIMS 11 Brindley Place
Brunswick Square
Birmingham
West Midlands
B1 2LP

 

Happy Hearts Foster Care Limited

(Registration number: 13273130)
Balance Sheet as at 30 March 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

68,071

1,245

Current assets

 

Debtors

5

102,131

63,236

Cash at bank and in hand

 

89,902

53,169

 

192,033

116,405

Creditors: Amounts falling due within one year

6

(182,115)

(131,144)

Net current assets/(liabilities)

 

9,918

(14,739)

Total assets less current liabilities

 

77,989

(13,494)

Creditors: Amounts falling due after more than one year

6

(55,315)

(13,542)

Provisions for liabilities

(263)

-

Net assets/(liabilities)

 

22,411

(27,036)

Capital and reserves

 

Called up share capital

7

2

2

Retained earnings

22,409

(27,038)

Shareholders' funds/(deficit)

 

22,411

(27,036)

For the financial year ending 30 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 21 July 2025 and signed on its behalf by:
 

 

Happy Hearts Foster Care Limited

(Registration number: 13273130)
Balance Sheet as at 30 March 2025

.........................................
Rizwan Khan
Director

.........................................
Nayla Khan
Director

 

Happy Hearts Foster Care Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 March 2025

1

General information

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

The address of its registered office is:
Radclyffe House
66-68 Hagley Road
Birmingham
West Midlands
B16 8PF
United Kingdom

These financial statements were authorised for issue by the Board on 21 July 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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Happy Hearts Foster Care Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 March 2025

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

20% p.a. Straight Line

Plant and Machinery

20% p.a. Straight Line

Motor Vehicles

25% p.a. Straight Line

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.

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Happy Hearts Foster Care Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 March 2025

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 6 (2024 - 6).

 

Happy Hearts Foster Care Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 March 2025

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 31 March 2024

100

2,084

-

2,184

Additions

325

4,457

65,228

70,010

Disposals

(100)

-

-

(100)

At 30 March 2025

325

6,541

65,228

72,094

Depreciation

At 31 March 2024

100

839

-

939

Charge for the year

162

1,719

1,303

3,184

Eliminated on disposal

(100)

-

-

(100)

At 30 March 2025

162

2,558

1,303

4,023

Carrying amount

At 30 March 2025

163

3,983

63,925

68,071

At 30 March 2024

-

1,245

-

1,245

5

Debtors

Current

2025
£

2024
£

Trade debtors

1,350

6,449

Other debtors

100,781

56,787

 

102,131

63,236

6

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
£

Due within one year

 

Loans and borrowings

8

29,267

17,984

Trade creditors

 

1,710

5,250

Taxation and social security

 

22,154

6,164

Accruals and deferred income

 

74,707

47,500

Other creditors

 

54,277

54,246

 

182,115

131,144

Creditors: amounts falling due after more than one year

 

Happy Hearts Foster Care Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 March 2025

Note

2025
£

2024
£

Due after one year

 

Loans and borrowings

8

55,315

13,542

7

Share capital

Allotted, called up and fully paid shares

2025

2024

No.

£

No.

£

Oridinary Share Capital of £1 each

2

2

2

2

       

8

Loans and borrowings

Non-current loans and borrowings

2025
£

2024
£

Finance lease liabilities

45,808

-

Other borrowings

9,507

13,542

55,315

13,542

Current loans and borrowings

2025
£

2024
£

Finance lease liabilities

12,671

-

Other borrowings

16,596

17,984

29,267

17,984

9

Related party transactions

 

Happy Hearts Foster Care Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 March 2025

Directors' remuneration

The directors' remuneration for the year was as follows:

2025
£

2024
£

Remuneration

83,320

-