IRIS Accounts Production v23.3.0.418 01341519 Board of Directors 1.4.22 31.3.23 31.3.23 0 0 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure013415192022-03-31013415192023-03-31013415192022-04-012023-03-31013415192021-03-31013415192021-04-012022-03-31013415192022-03-3101341519ns16:EnglandWales2022-04-012023-03-3101341519ns15:PoundSterling2022-04-012023-03-3101341519ns11:Director12022-04-012023-03-3101341519ns11:PrivateLimitedCompanyLtd2022-04-012023-03-3101341519ns11:SmallEntities2022-04-012023-03-3101341519ns11:AuditExempt-NoAccountantsReport2022-04-012023-03-3101341519ns11:SmallCompaniesRegimeForDirectorsReport2022-04-012023-03-3101341519ns11:SmallCompaniesRegimeForAccounts2022-04-012023-03-3101341519ns11:FullAccounts2022-04-012023-03-310134151912022-04-012023-03-3101341519ns11:Director22022-04-012023-03-3101341519ns11:Director32022-04-012023-03-3101341519ns11:CompanySecretary12022-04-012023-03-3101341519ns11:RegisteredOffice2022-04-012023-03-3101341519ns6:CurrentFinancialInstruments2023-03-3101341519ns6:CurrentFinancialInstruments2022-03-3101341519ns6:Non-currentFinancialInstruments2023-03-3101341519ns6:Non-currentFinancialInstruments2022-03-3101341519ns6:ShareCapital2023-03-3101341519ns6:ShareCapital2022-03-3101341519ns6:RetainedEarningsAccumulatedLosses2023-03-3101341519ns6:RetainedEarningsAccumulatedLosses2022-03-3101341519ns6:NetGoodwill2022-04-012023-03-3101341519ns6:IntangibleAssetsOtherThanGoodwill2022-04-012023-03-3101341519ns6:LongLeaseholdAssetsns6:LandBuildings2022-04-012023-03-3101341519ns6:PlantMachinery2022-04-012023-03-3101341519ns6:FurnitureFittings2022-04-012023-03-3101341519ns6:NetGoodwill2022-03-3101341519ns6:NetGoodwill2023-03-3101341519ns6:NetGoodwill2022-03-3101341519ns6:LongLeaseholdAssetsns6:LandBuildings2022-03-3101341519ns6:PlantMachinery2022-03-3101341519ns6:FurnitureFittings2022-03-3101341519ns6:LongLeaseholdAssetsns6:LandBuildings2023-03-3101341519ns6:PlantMachinery2023-03-3101341519ns6:FurnitureFittings2023-03-3101341519ns6:LongLeaseholdAssetsns6:LandBuildings2022-03-3101341519ns6:PlantMachinery2022-03-3101341519ns6:FurnitureFittings2022-03-3101341519ns6:WithinOneYearns6:CurrentFinancialInstruments2023-03-3101341519ns6:WithinOneYearns6:CurrentFinancialInstruments2022-03-3101341519ns6:BetweenOneTwoYearsns6:Non-currentFinancialInstruments2022-03-3101341519ns6:BetweenTwoFiveYearsns6:Non-currentFinancialInstruments2023-03-3101341519ns6:BetweenTwoFiveYearsns6:Non-currentFinancialInstruments2022-03-31
REGISTERED NUMBER: 01341519 (England and Wales)











Financial Statements

for the Year Ended 31 March 2023

for

HARI & FRIENDS LIMITED

HARI & FRIENDS LIMITED (REGISTERED NUMBER: 01341519)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HARI & FRIENDS LIMITED

Company Information
for the Year Ended 31 March 2023







DIRECTORS: Mrs K Salem
Miss T Salem
Mr L H Salem





SECRETARY: Mr H H Salem





REGISTERED OFFICE: 42 Donne Place
London
SW3 2NH





REGISTERED NUMBER: 01341519 (England and Wales)





ACCOUNTANTS: Jeff Lermer & Associates
Chartered Accountants
42 Lytton Road
Barnet
Hertfordshire
EN5 5BY

HARI & FRIENDS LIMITED (REGISTERED NUMBER: 01341519)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 452,865 539,039
452,865 539,039

CURRENT ASSETS
Stocks 6 57,290 19,977
Debtors 7 869,437 558,940
Cash at bank 444,811 665,107
1,371,538 1,244,024
CREDITORS
Amounts falling due within one year 8 1,342,703 1,236,123
NET CURRENT ASSETS 28,835 7,901
TOTAL ASSETS LESS CURRENT
LIABILITIES

481,700

546,940

CREDITORS
Amounts falling due after more than one year 9 (68,212 ) -

PROVISIONS FOR LIABILITIES (1,027 ) (1,027 )
NET ASSETS 412,461 545,913

CAPITAL AND RESERVES
Called up share capital 11 98 98
Retained earnings 412,363 545,815
SHAREHOLDERS' FUNDS 412,461 545,913

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

HARI & FRIENDS LIMITED (REGISTERED NUMBER: 01341519)

Balance Sheet - continued
31 March 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 and authorised for issue on 19 October 2023 and were signed on its behalf by:





Mr L H Salem - Director


HARI & FRIENDS LIMITED (REGISTERED NUMBER: 01341519)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Hari & Friends 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being 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.
Leasehold premises - 10% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 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.

HARI & FRIENDS LIMITED (REGISTERED NUMBER: 01341519)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 750,000
AMORTISATION
At 1 April 2022
and 31 March 2023 750,000
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

5. TANGIBLE FIXED ASSETS
Fixtures
Leasehold Plant and and
premises machinery fittings Totals
£    £    £    £   
COST
At 1 April 2022 832,096 590,406 193,806 1,616,308
Additions - - 11,610 11,610
Disposals - (22,092 ) - (22,092 )
At 31 March 2023 832,096 568,314 205,416 1,605,826
DEPRECIATION
At 1 April 2022 362,916 543,598 170,755 1,077,269
Charge for year 76,753 11,134 7,623 95,510
Eliminated on disposal - (19,818 ) - (19,818 )
At 31 March 2023 439,669 534,914 178,378 1,152,961
NET BOOK VALUE
At 31 March 2023 392,427 33,400 27,038 452,865
At 31 March 2022 469,180 46,808 23,051 539,039

6. STOCKS
31.3.23 31.3.22
£    £   
Stocks 57,290 19,977

HARI & FRIENDS LIMITED (REGISTERED NUMBER: 01341519)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 137,075 130,003
Amounts owed by group undertakings 542,602 198,793
Other debtors 153,132 210,144
Prepayments 36,628 20,000
869,437 558,940

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts (see note 10) - 20,833
Other loans (see note 10) 20,000 -
Trade creditors 184,284 194,957
Amounts owed to group undertakings 128,930 99,112
Tax 84,926 67,710
VAT 119,248 87,028
Other creditors 264,769 367,134
Directors' current accounts 399,964 161,623
Accruals and deferred income 140,582 237,726
1,342,703 1,236,123

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.23 31.3.22
£    £   
Other loans (see note 10) 68,212 -

Amounts falling due in more than five years:

Repayable by instalments
Other loans more 5yrs instal 8,212 -

10. LOANS

An analysis of the maturity of loans is given below:

31.3.23 31.3.22
£    £   
Amounts falling due within one year or on demand:
Bank loans - 20,833
Other loans 20,000 -
20,000 20,833

Amounts falling due between one and two years:
Other loans - 1-2 years 20,000 -

HARI & FRIENDS LIMITED (REGISTERED NUMBER: 01341519)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

10. LOANS - continued
31.3.23 31.3.22
£    £   
Amounts falling due between two and five years:
Other loans - 2-5 years 40,000 -

Amounts falling due in more than five years:

Repayable by instalments
Other loans more 5yrs instal 8,212 -

11. CALLED UP SHARE CAPITAL

Allotted,
issued and
fully paid:


Number: Class: Nominal Value: 31.03.22 £ 31.03.21 £
9,797 Ordinary 1p 97.97 97.97
1 A Ordinary 1p 0.01 0.01
1 B Ordinary 1p 0.01 0.01
1 C Ordinary 1p 0.01 0.01
1 D Ordinary 1p 0.01 0.01
1 E Ordinary 1p 0.01 0.01
98.02 98.02

12. RELATED PARTY DISCLOSURES

At the balance sheet date the companies was owed the following amounts:
Related Entity Name 2023 2022
Hari Salem Ltd (£196) (£196)
Hari's Notting Hill Ltd (£31,637) (£12,054)
Salem Projects Limited (£97,097) (£86,862)
Tassies Hairdressers Limited (£254,102) (£356,466)
Pari Properties Limited £NIL £198,793
Hari's Clapham Ltd £542,602 -

The above are related parties by virtue of the fact that they are under common control.

As at the balance sheet date, included in creditors due within one year is £399,964 (2022: £161,623), due and payable to the directors. The amount was interest free and repayable on demand.

As at the balance sheet data, included in other debtors is £88,212, a loan given to Hari's Clapham Ltd which a under the control of common director. This is an interest free loan repayable over a 5 year period.