Happy Nails Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07074932 (England)

Unaudited Financial Statements for the Year Ended 31 March 2022

for

HAPPY NAILS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Ms THU HA Le

REGISTERED OFFICE:

177 Brockley Road

London

SE4 2RS

REGISTERED NUMBER:

07074932 (England)

ACCOUNTANTS:

HT Accountants & Co LLP

Unit 3 Ibex House

2A Leytonstone Road

Stratford

London

E15 1SE

FIXED ASSETS

Tangible assets

4

6,506

8,132

CURRENT ASSETS

Debtors

5

1

1

Cash at bank and in hand

453

185

454

186

CREDITORS

Amounts falling due within one year

6

(3,668

)

(2,219

)

NET CURRENT LIABILITIES

(3,214

)

(2,033

)

TOTAL ASSETS LESS CURRENT LIABILITIES

3,292

6,099

CREDITORS

Amounts falling due after more than one year

7

896

-

NET ASSETS

4,188

6,099

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

4,187

6,098

SHAREHOLDERS' FUNDS

4,188

6,099

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 December 2022 and were signed by:

Ms THU HA Le - Director

1.	STATUTORY INFORMATION

Happy Nails Limited is a private company, limited by shares , registered in England. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of

depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over

their useful lives on the following bases:

Plant and equipment 20% Reducing Balance

Fixtures and fittings 20% Reducing Balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale

proceeds and the carrying value of the asset, and is credited or charged to profit or loss

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2021 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2021

and 31 March 2022

52,140

DEPRECIATION

At 1 April 2021

44,008

Charge for year

1,626

At 31 March 2022

45,634

NET BOOK VALUE

At 31 March 2022

6,506

At 31 March 2021

8,132

5.

DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2021

£

£

Other debtors

1

1

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade creditors

73

-

Taxation and social security

368

1,894

Other creditors

3,227

325

3,668

2,219

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2021

£

£

Bank loans

(896

)

-