Happy Hour Productions Limited - Period Ending 2017-03-31

Registration number: 04883337

Happy Hour Productions Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2016
 

Leslie Dark & Co
Chartered Accountants
Dynamic House
2 Serbert Road
PORTISHEAD
Bristol
BS20 7GF

Happy Hour Productions Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2 to 3

Notes to the Abbreviated Accounts 4 to 6

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 6) have been prepared.

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Happy Hour Productions Limited
for the Year Ended 31 March 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Happy Hour Productions Limited for the year ended 31 March 2016 set out on pages 4 to 13 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance/.

This report is made solely to the Board of Directors of Happy Hour Productions Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Happy Hour Productions Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Happy Hour Productions Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Happy Hour Productions Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Happy Hour Productions Limited. You consider that Happy Hour Productions Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Happy Hour Productions Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Leslie Dark & Co
Chartered Accountants
Dynamic House
2 Serbert Road
PORTISHEAD
Bristol
BS20 7GF

14 December 2016

Page 1

Happy Hour Productions Limited
(Registration number: 04883337)
Abbreviated Balance Sheet at 31 March 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					100,939			79,165
Investments					550,001			50,001
					650,940			129,166
Current assets
Stocks					-			32,060
Debtors					342,083			342,731
Investments					14,053			17,253
Cash at bank and in hand					915,798			1,060,121
					1,271,934			1,452,165
Creditors: Amounts falling due within one year					(274,559)			(424,117)
Net current assets					997,375			1,028,048
Total assets less current liabilities					1,648,315			1,157,214
Provisions for liabilities					(18,533)			(15,287)
Net assets					1,629,782			1,141,927
Capital and reserves
Called up share capital		3			2			2
Capital redemption reserve					2			2
Profit and loss account					1,629,778			1,141,923
Shareholders' funds					1,629,782			1,141,927

The notes on pages 4 to 6 form an integral part of these financial statements.
Page 2

Happy Hour Productions Limited
(Registration number: 04883337)
Abbreviated Balance Sheet at 31 March 2016
......... continued

For the year ending 31 March 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the director on 14 December 2016

.........................................
Mr Thomas Christopher George
Director

The notes on pages 4 to 6 form an integral part of these financial statements.
Page 3

Happy Hour Productions Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Freehold property	Depreciation is not provided on the property
Fixtures, Fittings and equipment	15% Reducing balance

Fixed asset investments

Fixed asset investments are stated at historical cost less provision for any diminution in value.

Current asset investments

Current asset investments are included at the lower of cost and net realisable value.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 4

Happy Hour Productions Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

2	Fixed assets

		Tangible assets £			Investments £			Total £
Cost
At 1 April 2015		138,018			50,001			188,019
Additions		40,032			500,000			540,032
At 31 March 2016		178,050			550,001			728,051
Depreciation
At 1 April 2015		58,853			-			58,853
Charge for the year		18,258			-			18,258
At 31 March 2016		77,111			-			77,111
Net book value
At 31 March 2016		100,939			550,001			650,940
At 31 March 2015		79,165			50,001			129,166

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking	Country of incorporation	Holding	Proportion of voting rights and shares held	Principal activity
Subsidiary undertakings
Park Row Publishing Limited	England	Ordinary	100%	Music publishing rights

Page 5

Happy Hour Productions Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary A of £1 each		1			1			1			1
Ordinary B of £1 each		1			1			1			1
		2			2			2			2

Page 6