Happier Property Ltd - Filleted accounts

Registered number

12187219

Happier Property Ltd

Unaudited Filleted Accounts

30 September 2024

Happier Property Ltd
Registered number:		12187219
Balance Sheet
as at 30 September 2024

Notes			2024			2023
£				£
Fixed assets
Investments	4		300,000			240,000

Current assets
Debtors	5	-			25,000
Cash at bank and in hand		46,180			52,867
		46,180			77,867

Creditors: amounts falling due within one year	6	(22,351)			(18,574)

Net current assets			23,829			59,293

Total assets less current liabilities			323,829			299,293

Creditors: amounts falling due after more than one year	7		(227,527)			(230,616)

Provisions for liabilities			(34,478)			(19,478)


Net assets			61,824			49,199

Capital and reserves
Called up share capital			2			2
Profit and loss account			61,822			49,197

Shareholders' funds			61,824			49,199

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




M J W Bramwell
Director
Approved by the board on 25 September 2025

Happier Property Ltd
Notes to the Accounts
for the year ended 30 September 2024


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Fixtures, fittings and equipment	over 3 years

	Investment properties
	Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss. Where fair value cannot be achieved without undue cost or effort, investment property is accounted for as tangible fixed assets.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

2	Employees		2024		2023
Number				Number

	Average number of persons employed by the company		2		2


3	Tangible fixed assets
					Fixtures, fittings and equipment
£
	Cost
	At 1 October 2023				2,861
	At 30 September 2024				2,861

	Depreciation
	At 1 October 2023				2,861
	At 30 September 2024				2,861

	Net book value
	At 30 September 2024				-


4	Investments

Investment
properties
£
	Cost
	At 1 October 2023				240,000
	Revaluation				60,000

	At 30 September 2024				300,000

	Historical cost
	At 1 October 2023				162,087
	At 30 September 2024				162,087

	The directors have revalued the property and consider this to be a fair reflection of the open market value at the year end.


5	Debtors		2024		2023
£				£

	Amounts owed by group undertakings and undertakings in which the company has a participating interest		-		25,000


6	Creditors: amounts falling due within one year		2024		2023
£				£

	Bank loans and overdrafts		3,857		3,763
	Trade creditors		3,288		-
	Other creditors		15,206		14,811
			22,351		18,574


7	Creditors: amounts falling due after one year		2024		2023
£				£

	Bank loans		227,527		230,616


8	Loans		2024		2023
£				£
	Creditors include:
	Amounts payable otherwise than by instalment falling due for payment after more than five years		204,869		204,101
	Instalments falling due for payment after more than five years		6,226		10,489
			211,095		214,590


	Secured bank loans		204,869		204,101

	Loans are secured against the assets to which they relate.


9	Related party transactions

	The company provided short-term funding to Happier Homes Ltd, a company in which the director M J W Bramwell also serves as a director. Loans to the value of £25,000 were written-off during the year and included in debtors at the balance sheet date is an amount of £nil (2023 - £25,000) due from Happier Homes Ltd.


#	Other information

	Happier Property Ltd is a private company limited by shares and incorporated in England. Its registered office is:
	3 Totman Crescent
	Rayleigh
	Essex
	SS6 7UY