The Happy Puzzle Company Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 02781931 (England and Wales)

Financial Statements

for the Year Ended 31 March 2019

for

THE HAPPY PUZZLE COMPANY LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr G M Ucko

SECRETARY:

Mrs R R Ucko

REGISTERED OFFICE:

42 Lytton Road

Barnet

Hertfordshire

EN5 5BY

REGISTERED NUMBER:

02781931 (England and Wales)

ACCOUNTANTS:

Jeff Lermer & Associates

Chartered Accountants

42 Lytton Road

Barnet

Hertfordshire

EN5 5BY

FIXED ASSETS

Intangible assets

4

36,345

49,982

Tangible assets

5

7,478

9,970

43,823

59,952

CURRENT ASSETS

Stocks

259,227

360,858

Debtors

268,740

257,988

Cash at bank and in hand

93,135

184,188

621,102

803,034

CREDITORS

Amounts falling due within one year

336,408

613,175

NET CURRENT ASSETS

284,694

189,859

TOTAL ASSETS LESS CURRENT
LIABILITIES

328,517

249,811

CREDITORS

Amounts falling due after more than
one year

(162,500

)

(92,500

)

PROVISIONS FOR LIABILITIES

(2,374

)

-

NET ASSETS

163,643

157,311

CAPITAL AND RESERVES

Called up share capital

8

100

Retained earnings

9

163,543

157,211

SHAREHOLDERS' FUNDS

163,643

157,311

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 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 financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2019 in accordance with Section 444(2A) of the Companies Act 2006.

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 on 29 November 2019 and were signed
by:

Mr G M Ucko - Director

1.	STATUTORY INFORMATION

The Happy Puzzle Company Limited is a private company, limited by shares , registered in

England and Wales. The company's registered number and registered office address can be

found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

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.

Computer software is being amortised evenly over its estimated useful life of nil years.

Tangible fixed assets

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

Short leasehold

-

25% on cost

Fixtures and fittings

-

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.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2018 - 23 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2018

and 31 March 2019

310,547

AMORTISATION

At 1 April 2018

260,565

Amortisation for year

13,637

At 31 March 2019

274,202

NET BOOK VALUE

At 31 March 2019

36,345

At 31 March 2018

49,982

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2018

and 31 March 2019

202,228

DEPRECIATION

At 1 April 2018

192,258

Charge for year

2,492

At 31 March 2019

194,750

NET BOOK VALUE

At 31 March 2019

7,478

At 31 March 2018

9,970

6.

LOANS

An analysis of the maturity of loans is given below:

31.3.19

31.3.18

£

Amounts falling due within one year or on demand:

Other loans

95,040

59,182

Amounts falling due between one and two years:

Other loans - 1-2 years

60,000

30,000

Amounts falling due between two and five years:

Other loans - 2-5 years

102,500

62,500

7.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.19

31.3.18

£

Other loans

-

122,500

Other loans are secured under personal guarantee by the director.

8.	CALLED UP SHARE CAPITAL

**ERROR - CONFLICTS FOUND BETWEEN POSTINGS AND SHARE REGISTER - PLEASE REVIEW

EXCEPTION REPORT (EXR).

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.19

31.3.18

value:

£

55

A Ordinary

£1

45

55

45

B Ordinary

£1

-

45

1

C Ordinary

£1

-

1

D Ordinary

£1

-

1

E Ordinary

£1

-

1

F Ordinary

£1

-

45

100

The following shares were issued during the year for cash at par :

1 C Ordinary share of £1

1 D Ordinary share of £1

1 E Ordinary share of £1

1 F Ordinary share of £1

9.

RESERVES

Retained

earnings

£

At 1 April 2018

157,211

Profit for the year

83,913

Dividends

(77,581

)

At 31 March 2019

163,543