Happy Promotions Limited - Abbreviated accounts 16.1

HAPPY PROMOTIONS LIMITED

Abbreviated Unaudited Accounts for the Year Ended 31st October 2015

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

Amplevine House

Dukes Road

Southampton

Hampshire

SO14 0ST

FIXED ASSETS

Tangible assets

2

41,111

37,124

CURRENT ASSETS

Stocks

450

700

Debtors

9,189

2,985

Cash at bank and in hand

162,378

105,552

172,017

109,237

CREDITORS

Amounts falling due within one year

3

69,028

52,448

NET CURRENT ASSETS

102,989

56,789

TOTAL ASSETS LESS CURRENT
LIABILITIES

144,100

93,913

CREDITORS

Amounts falling due after more than one
year

3

(8,634

)

(7,109

)

PROVISIONS FOR LIABILITIES

(7,022

)

(5,961

)

NET ASSETS

128,444

80,843

CAPITAL AND RESERVES

Called up share capital

4

1,000

Profit and loss account

127,444

79,843

SHAREHOLDERS' FUNDS

128,444

80,843

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st October 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st October 2015 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 3rd May 2016 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 2014

127,979

Additions

16,041

Disposals

(3,990

)

At 31st October 2015

140,030

DEPRECIATION

At 1st November 2014

90,855

Charge for year

11,397

Eliminated on disposal

(3,333

)

At 31st October 2015

98,919

NET BOOK VALUE

At 31st October 2015

41,111

At 31st October 2014

37,124

3.

CREDITORS

Creditors include an amount of £ 14,191 (2014 - £ 10,653 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

1,000

Ordinary

£1

1,000

5.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st October 2015

and 31st October 2014:

2015

2014

£

R P Randall

Balance outstanding at start of year

507

7,405

Amounts advanced

1,258

507

Amounts repaid

(507

)

(7,405

)

Balance outstanding at end of year

1,258

507