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REGISTERED NUMBER: 02644059 (England and Wales)

















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

HRN ENTERPRISES LIMITED

HRN ENTERPRISES LIMITED (REGISTERED NUMBER: 02644059)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


HRN ENTERPRISES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: Mr H Halai
Mr J Patel
Mr M N Vekaria





REGISTERED OFFICE: 505 Pinner Road
Harrow
Middlesex
HA2 6EH





REGISTERED NUMBER: 02644059 (England and Wales)





ACCOUNTANTS: STGCA LLP t/a Sterling
Chartered Accountants
505 Pinner Road
Harrow
Middlesex
HA2 6EH

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
HRN ENTERPRISES LIMITED


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of HRN Enterprises Limited for the year ended 31 March 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of HRN Enterprises Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of HRN Enterprises Limited and state those matters that we have agreed to state to the Board of Directors of HRN Enterprises Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than HRN Enterprises Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that HRN Enterprises Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of HRN Enterprises Limited. You consider that HRN Enterprises Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of HRN Enterprises Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






STGCA LLP t/a Sterling
Chartered Accountants
505 Pinner Road
Harrow
Middlesex
HA2 6EH


23 November 2023

HRN ENTERPRISES LIMITED (REGISTERED NUMBER: 02644059)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 663 859

CURRENT ASSETS
Stocks 5 8,650 9,100
Debtors 6 6,410 1,250
Cash at bank and in hand 81,086 130,221
96,146 140,571
CREDITORS
Amounts falling due within one year 7 93,191 98,517
NET CURRENT ASSETS 2,955 42,054
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,618

42,913

CREDITORS
Amounts falling due after more than one year 8 (22,435 ) (32,387 )

PROVISIONS FOR LIABILITIES 9 (126 ) (163 )
NET (LIABILITIES)/ASSETS (18,943 ) 10,363

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (19,043 ) 10,263
SHAREHOLDERS' FUNDS (18,943 ) 10,363

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.

HRN ENTERPRISES LIMITED (REGISTERED NUMBER: 02644059)

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 23 November 2023 and were signed on its behalf by:





Mr J Patel - Director


HRN ENTERPRISES LIMITED (REGISTERED NUMBER: 02644059)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

HRN Enterprises 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.

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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue recognition
Revenue from the members club is recognised when food and beverage products are sold. And revenue from investment property is recognised on a rent receivable basis to the balance sheet date.

The rent is recognised when the company has the right to consideration.

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 - Straight line over 16 years
Fixtures and fittings - 20% on reducing balance
Plant and equipment - 25% on reducing balance

Stocks
Stocks are measured at the lower of cost and selling price. Cost is calculated on a first in, first out basis and includes all costs of purchase, costs of conversion and other costs incurred in bringing the inventories to their present location and condition.

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.


HRN ENTERPRISES LIMITED (REGISTERED NUMBER: 02644059)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Short and Plant and
leasehold fittings equipment Totals
£    £    £    £   
COST
At 1 April 2022
and 31 March 2023 112,719 34,727 37,176 184,622
DEPRECIATION
At 1 April 2022 112,718 34,354 36,691 183,763
Charge for year - 75 121 196
At 31 March 2023 112,718 34,429 36,812 183,959
NET BOOK VALUE
At 31 March 2023 1 298 364 663
At 31 March 2022 1 373 485 859

5. STOCKS
2023 2022
£    £   
Stocks 8,650 9,100

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 6,410 1,250

HRN ENTERPRISES LIMITED (REGISTERED NUMBER: 02644059)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 9,952 9,707
Trade creditors 1,720 6,139
Tax - 2,744
Social security and other taxes - 304
VAT 6,230 5,904
Wages control 2,842 1,272
Directors' current accounts 62,697 62,697
Accrued expenses 9,750 9,750
93,191 98,517

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 10,204 9,952
Bank loans - 2-5 years 12,231 22,435
22,435 32,387

The company came in agreement for bounce back loan for £50,000 with National Westminster Bank plc. The loan term is 6 years. The interest rate is fixed at 2.50 per cent per annum. The loan is 100% guaranteed by HM Government and 12 months of interest paid by HM Government.

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 126 163

Deferred
tax
£   
Balance at 1 April 2022 163
Movement during the year (37 )
Balance at 31 March 2023 126

10. RELATED PARTY DISCLOSURES

Included in the creditors is £62,697 (2022: £62,697) payable to shareholders. The amount owed is repayable on demand.

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr H Halai.