HAPPY VALLEY PROPERTY LTD - Filleted accounts

Registered number

13282037

HAPPY VALLEY PROPERTY LTD

Filleted Accounts

31 March 2025

HAPPY VALLEY PROPERTY LTD
Registered number:		13282037
Balance Sheet
as at 31 March 2025

Notes			2025			2024
£				£
Fixed assets
Tangible assets	3		769,351			786,076
			769,351			786,076

Current assets
Debtors	4	3,174			1,542
Cash at bank and in hand		23,141			58,886
		26,315			60,428

Creditors: amounts falling due within one year	5	(7,483)			(8,978)

Net current assets			18,832			51,450

Total assets less current liabilities			788,183			837,526

Creditors: amounts falling due after more than one year	6		(728,688)			(773,688)

Net assets			59,495			63,838

Capital and reserves
Called up share capital			960			960
Profit and loss account			58,535			62,878

Shareholders' funds			59,495			63,838

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.




HOUSE, Jonathan Peter James
Director
Approved by the board on 5 November 2025

HAPPY VALLEY PROPERTY LTD
Notes to the Accounts
for the year ended 31 March 2025


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:

	Leasehold land and buildings			over the lease term
	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.

2	Employees					2025		2024
Number							Number

	Average number of persons employed by the company					0		0


3	Tangible fixed assets
		Land and buildings		Plant and machinery etc		Motor vehicles		Total
£			£		£		£
	Cost
	At 1 April 2024	836,251		-		-		836,251
	Additions	-		-		-		-
	Surplus on revaluation	-		-		-		-
	Disposals	-		-		-		-
	At 31 March 2025	836,251		-		-		836,251

	Depreciation
	At 1 April 2024	50,175		-		-		50,175
	Charge for the year	16,725		-		-		16,725
	Surplus on revaluation	-		-		-		-
	On disposals	-		-		-		-
	At 31 March 2025	66,900		-		-		66,900

	Net book value
	At 31 March 2025	769,351		-		-		769,351
	At 31 March 2024	786,076		-		-		786,076


4	Debtors					2025		2024
£							£

	Trade debtors					-		1,542
	Other debtors					3,174		-
						3,174		1,542


5	Creditors: amounts falling due within one year					2025		2024
£							£

	Trade creditors					3,690		1,268
	Director's Loan account					250		250
	Taxation and social security costs					3,543		7,460
						7,483		8,978


6	Creditors: amounts falling due after one year					2025		2024
£							£

	Other creditors					728,688		773,688
						728,688		773,688


7	Controlling party

	The company is controlled by SIU HO CHAN (20%), SUI WAN LAU (15%), WING HONG ANDY WONG (15%), KIN TING ALFRED CHEUNG (10%), CINDY YEUNG (10%), TAN SHUI CHENG (10%), CHUNG KAI PAUL LEE (10%), JONATHAN PETER JAMES HOUSE (10%).