Happy Promotions Limited - Limited company - abbreviated - 11.6

HAPPY PROMOTIONS LIMITED

Abbreviated Unaudited Accounts for the Year Ended 31st October 2014

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

R P Randall

SECRETARY:

Miss S A Randall

REGISTERED OFFICE:

Office 3 B15 Wessex House

Upper Market Street

Eastleigh

Hampshire

SO50 9FD

REGISTERED NUMBER:

04555734 (England and Wales)

ACCOUNTANTS:

Hall & Co

Chartered Accountants

59 The Avenue

Southampton

Hampshire

SO17 1XS

FIXED ASSETS

Tangible assets

2

37,124

28,338

CURRENT ASSETS

Stocks

700

-

Debtors

2,985

13,494

Cash at bank and in hand

105,552

82,205

109,237

95,699

CREDITORS

Amounts falling due within one year

3

52,448

46,984

NET CURRENT ASSETS

56,789

48,715

TOTAL ASSETS LESS CURRENT LIABILITIES

93,913

77,053

CREDITORS

Amounts falling due after more than one year

3

(7,109

)

-

PROVISIONS FOR LIABILITIES

(5,961

)

(3,882

)

NET ASSETS

80,843

73,171

CAPITAL AND RESERVES

Called up share capital

4

1,000

1,000

Profit and loss account

79,843

72,171

SHAREHOLDERS' FUNDS

80,843

73,171

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st October 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st October 2014 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps 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 Sections 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.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 29th July 2015 and were signed by:

R P Randall - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance

with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet.

Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held

under finance leases are depreciated over their estimated useful lives or the lease term, whichever is

the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant

period. The capital element of the future payments is treated as a liability.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1st November 2013

109,141

Additions

19,605

Disposals

(767

)

At 31st October 2014

127,979

DEPRECIATION

At 1st November 2013

80,803

Charge for year

10,622

Eliminated on disposal

(570

)

At 31st October 2014

90,855

NET BOOK VALUE

At 31st October 2014

37,124

At 31st October 2013

28,338

3.

CREDITORS

Creditors include an amount of £ 10,653 for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

1,000

Ordinary

£1

1,000

1,000

5.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st October 2014

and 31st October 2013:

2014

2013

£

£

R P Randall

Balance outstanding at start of year

7,405

-

Amounts advanced

507

7,405

Amounts repaid

(7,405

)

-

Balance outstanding at end of year

507

7,405