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

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

HAPPY BOAT LIMITED - Company Information

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REGISTERED NUMBER: SC306469 (Scotland)




















Happy Boat Limited

Unaudited Financial Statements

for the Period

1 September 2017 to 31 December 2017





Whitelaw Wells
9 Ainslie Place
Edinburgh
Midlothian
EH3 6AT








Happy Boat Limited (Registered number: SC306469)






Contents of the Financial Statements
for the Period 1 September 2017 to 31 December 2017




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Happy Boat Limited

Company Information
for the Period 1 September 2017 to 31 December 2017







DIRECTORS: Mr K K Lau
Mrs Y Y Lau



SECRETARY: Mrs Y Y Lau



REGISTERED OFFICE: 9 Ainslie Place
Edinburgh
Midlothian
EH3 6AT



REGISTERED NUMBER: SC306469 (Scotland)



ACCOUNTANTS: Whitelaw Wells
9 Ainslie Place
Edinburgh
Midlothian
EH3 6AT



BANKERS: Clydesdale Bank
Cairngorm House
Almondvale Boulevard
Livingston
EH54 6QL
Page 1
Happy Boat Limited (Registered number: SC306469)

Balance Sheet
31 December 2017

2017 2017
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 - 493
- 493

CURRENT ASSETS
Stocks - 423
Debtors 6 3,782 799
Cash at bank and in hand 2,811 4,783
6,593 6,005
CREDITORS
Amounts falling due within one year 7 6,520 5,451
NET CURRENT ASSETS 73 554
TOTAL ASSETS LESS CURRENT
LIABILITIES
73
1,047

PROVISIONS FOR LIABILITIES - 94
NET ASSETS 73 953

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 71 951
SHAREHOLDERS' FUNDS 73 953

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2017.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2017 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 notes form part of these financial statements

Page 2 continued...
Happy Boat Limited (Registered number: SC306469)

Balance Sheet - continued
31 December 2017


The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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

The financial statements were approved by the Board of Directors on 4 June 2018 and were signed on its
behalf by:





Mr K K Lau - Director


The notes form part of these financial statements

Page 3
Happy Boat Limited (Registered number: SC306469)

Notes to the Financial Statements
for the Period 1 September 2017 to 31 December 2017

1. STATUTORY INFORMATION

Happy Boat Limited is a private company, limited by shares , registered in Scotland. 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The company has ceased trading and therefore the accounts have been prepared on a break-up
basis.

Turnover and revenue recognition
Turnover, which represents net invoiced sales of goods, is recognised at the point when a meal is
served or delivered to a customer.

The company de-registered for VAT on 21 November 2016.

Goodwill
Goodwill being the amount paid in connection with the acquisition of a business in 2006, has been
amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are
measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost and 20% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for
obsolete and slow moving items.

Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial
instruments. Basic financial instruments are initially recognised at transaction value and
subsequently measured at their settlement value.

All loans with related parties are all repayable on demand.


Page 4 continued...
Happy Boat Limited (Registered number: SC306469)

Notes to the Financial Statements - continued
for the Period 1 September 2017 to 31 December 2017

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the period 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 period 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 4 (2017 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2017 35,000
Disposals (35,000 )
At 31 December 2017 -
AMORTISATION
At 1 September 2017 35,000
Eliminated on disposal (35,000 )
At 31 December 2017 -
NET BOOK VALUE
At 31 December 2017 -
At 31 August 2017 -

Page 5 continued...
Happy Boat Limited (Registered number: SC306469)

Notes to the Financial Statements - continued
for the Period 1 September 2017 to 31 December 2017

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 September 2017 3,553
Disposals (3,553 )
At 31 December 2017 -
DEPRECIATION
At 1 September 2017 3,060
Eliminated on disposal (3,060 )
At 31 December 2017 -
NET BOOK VALUE
At 31 December 2017 -
At 31 August 2017 493

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2017 2017
£    £   
Other debtors 3,782 799

The overdrawn directors' current accounts will be repaid 9 months after the period end

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2017 2017
£    £   
Taxation and social security 4,770 4,062
Other creditors 1,750 1,389
6,520 5,451

Page 6