Company Registration No. 08446952 (England and Wales)
Happy Times Activities LTD
Unaudited accounts
for the year ended 31 March 2022
Happy Times Activities LTD
Unaudited accounts
Contents
Happy Times Activities LTD
Company Information
for the year ended 31 March 2022
Directors
CURTIS-WILSON, Amanda Caroline
HILL, Jackie
OLIVER, Helen
ROBERTS, Thomas Alwyn
Company Number
08446952 (England and Wales)
Registered Office
HAPPY TIMES ACTIVITIES LTD
15 YEW TREE ROAD
MORETON
WIRRAL
CH46 8UA
ENGLAND
Accountants
Adding Value Consultancy Ltd
Studio 6, Bluecoat Chambers
School Lane
Liverpool
L1 3BX
Happy Times Activities LTD
Statement of financial position
as at
31 March 2022
Tangible assets
20,897
20,865
Cash at bank and in hand
120,198
65,509
Creditors: amounts falling due within one year
(60,530)
(6,409)
Net current assets
63,240
61,670
Profit and loss account
84,137
82,535
Members' funds
84,137
82,535
For the year ending 31 March 2022 the company was entitled to exemption from audit 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 5 August 2022 and were signed on its behalf by
OLIVER, Helen
Director
Company Registration No. 08446952
Happy Times Activities LTD
Notes to the Accounts
for the year ended 31 March 2022
Happy Times Activities LTD is a private company, limited by guarantee, registered in England and Wales, registration number 08446952. The registered office is HAPPY TIMES ACTIVITIES LTD , 15 YEW TREE ROAD, MORETON, WIRRAL, CH46 8UA, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Other Operating Income consists of grants. The organisation receives government and other grants in respect of specific projects and to support general revenue requirements. Income from government and other grants are recognised at fair value when the organisation has entitlement after any performance conditions have been met, it is probable that the income will be received, and the amount can be measured reliably. If entitlement is not met, then these amounts are deferred.
Turnover and Other Operating Income have been shown as separate categories on the Income Statement this year.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% per annum reducing balance basis
Fixtures & fittings
20% per annum reducing balance basis
Computer equipment
33% per annum straight line basis
At the time of preparing the accounts, the directors have reasonable expectation that the the company has adequate resources to be able to continue in operational existence for the foreseeable future. The directors therefore consider it appropriate to prepare the accounts on a going concern basis.
Happy Times Activities LTD
Notes to the Accounts
for the year ended 31 March 2022
Application of Restricted Funds
During the year, the following grants were received and recognised:
- Big Lottery Fund £90,000 (of which £23,088 has been deferred)
- Local Authority Business Support Grant £6,000
- Magenta Living £25,000 (of which £25,000 has been deferred)
- Mental Health Sustainability £4,500 (of which 100% has been deferred)
- Road to Recovery Grant £2,890
- Travis Perkins £10,000
- Social Enterprise Support Fund £5,833 (released from deferred income)
In addition there was £2,441 of donations received.
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Tangible fixed assets
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 April 2021
17,187
14,817
8,827
40,831
Additions
432
4,717
-
5,149
At 31 March 2022
17,619
19,534
8,827
45,980
At 1 April 2021
5,119
6,020
8,827
19,966
Charge for the year
2,414
2,703
-
5,117
At 31 March 2022
7,533
8,723
8,827
25,083
At 31 March 2022
10,086
10,811
-
20,897
At 31 March 2021
12,068
8,797
-
20,865
Amounts falling due within one year
Trade debtors
3,572
2,570
6
Creditors: amounts falling due within one year
2022
2021
Taxes and social security
1,061
-
Deferred income
52,588
5,834
7
Company limited by guarantee
The company is limited by guarantee and has no share capital.
Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.
Happy Times Activities LTD
Notes to the Accounts
for the year ended 31 March 2022
8
Operating lease commitments
2022
2021
At 31 March 2022 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
325
325
9
Average number of employees
During the year the average number of employees was 3 (2021: 1).