Happy Ventures Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 09071840 (England and Wales)

Abbreviated Accounts

for the Year Ended 30 June 2016

for

Happy Ventures Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

F G Kemp

Ms C M Kemp

A Kemp

REGISTERED OFFICE:

Ground Floor

19 New Road

Brighton

East Sussex

BN1 1UF

BUSINESS ADDRESS:

23 Broad Street

Brighton

East Sussex

BN2 1TJ

REGISTERED NUMBER:

09071840 (England and Wales)

ACCOUNTANTS:

Lucraft Hodgson & Dawes LLP

Ground Floor

19 New Road

Brighton

East Sussex

BN1 1UF

FIXED ASSETS

Tangible assets

2

809,424

-

CURRENT ASSETS

Debtors

-

3,600

Cash at bank and in hand

48,702

400

48,702

4,000

CREDITORS

Amounts falling due within one year

3

399,223

11,752

NET CURRENT LIABILITIES

(350,521

)

(7,752

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

458,903

(7,752

)

CREDITORS

Amounts falling due after more than one
year

3

(455,000

)

-

PROVISIONS FOR LIABILITIES

(3,405

)

-

NET ASSETS/(LIABILITIES)

498

(7,752

)

CAPITAL AND RESERVES

Called up share capital

4

100

Profit and loss account

398

(7,852

)

SHAREHOLDERS' FUNDS

498

(7,752

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2016 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors on 22 November 2016 and were signed on its behalf
by:

F G Kemp - Director

Ms C M Kemp - Director

A Kemp - 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 January 2015).

Turnover

Turnover represents invoiced services.

Tangible fixed assets

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

Freehold property

-

in accordance with the property

Improvements to property

-

20% on cost

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

33% on cost

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment.

Taxation

Current tax is provided at amounts expected to be paid (or recovered) using the tax rates and laws that have been

enacted or substantively enacted by the balance sheet date.

Deferred taxation is accounted for at expected tax rates on all differences arising from the inclusion of items of

income and expenditure in taxation computations in periods different from those in which they are included in

the financial statements. A deferred tax asset is only recognised when it is more likely than not that the asset will

be recoverable in the foreseeable future out of suitable taxable profits from which the underlying timing

differences can be deducted.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

Additions

822,131

At 30 June 2016

822,131

DEPRECIATION

Charge for year

12,707

At 30 June 2016

12,707

NET BOOK VALUE

At 30 June 2016

809,424

3.

CREDITORS

Creditors include an amount of £ 458,350 for which security has been given.

They also include the following debts falling due in more than five years:

30.6.16

30.6.15

£

Repayable by instalments

350,440

-

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.16

30.6.15

value:

£

49

Ordinary A Shares

£1.00

49

100

36

Ordinary B Shares

£1.00

36

-

15

Ordinary C Shares

£1.00

15

-

100