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REGISTERED NUMBER: 01341519 (England and Wales)











Financial Statements

for the Year Ended 31 March 2024

for

HARI & FRIENDS LIMITED

HARI & FRIENDS LIMITED (REGISTERED NUMBER: 01341519)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HARI & FRIENDS LIMITED

Company Information
for the Year Ended 31 March 2024







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 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 374,070 452,865
374,070 452,865

CURRENT ASSETS
Stocks 6 61,767 57,290
Debtors 7 977,567 869,437
Cash at bank 381,489 444,811
1,420,823 1,371,538
CREDITORS
Amounts falling due within one year 8 1,340,245 1,342,703
NET CURRENT ASSETS 80,578 28,835
TOTAL ASSETS LESS CURRENT
LIABILITIES

454,648

481,700

CREDITORS
Amounts falling due after more than one year 9 (48,212 ) (68,212 )

PROVISIONS FOR LIABILITIES 11 (55,593 ) (1,027 )
NET ASSETS 350,843 412,461

CAPITAL AND RESERVES
Called up share capital 12 98 98
Retained earnings 350,745 412,363
SHAREHOLDERS' FUNDS 350,843 412,461

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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 2024


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 18 November 2024 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 2024

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

HARI & FRIENDS LIMITED (REGISTERED NUMBER: 01341519)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 750,000
AMORTISATION
At 1 April 2023
and 31 March 2024 750,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
Leasehold Plant and and
premises machinery fittings Totals
£    £    £    £   
COST
At 1 April 2023 832,096 568,314 205,416 1,605,826
Additions 17,540 - 13,245 30,785
Disposals - (512,007 ) (10,603 ) (522,610 )
At 31 March 2024 849,636 56,307 208,058 1,114,001
DEPRECIATION
At 1 April 2023 439,669 534,914 178,378 1,152,961
Charge for year 78,202 4,226 9,008 91,436
Eliminated on disposal - (495,511 ) (8,955 ) (504,466 )
At 31 March 2024 517,871 43,629 178,431 739,931
NET BOOK VALUE
At 31 March 2024 331,765 12,678 29,627 374,070
At 31 March 2023 392,427 33,400 27,038 452,865

6. STOCKS
31.3.24 31.3.23
£    £   
Stocks 61,767 57,290

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 136,646 137,075
Amounts owed by group undertakings 538,195 542,602
Other debtors 244,532 153,132
Prepayments 58,194 36,628
977,567 869,437

HARI & FRIENDS LIMITED (REGISTERED NUMBER: 01341519)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Other loans (see note 10) 20,000 20,000
Trade creditors 117,942 184,284
Amounts owed to group undertakings 145,352 128,930
Tax 90,427 84,926
VAT 109,824 119,248
Other creditors 253,362 264,769
Directors' current accounts 404,015 399,964
Accruals and deferred income 199,323 140,582
1,340,245 1,342,703

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£    £   
Other loans (see note 10) 48,212 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:

31.3.24 31.3.23
£    £   
Amounts falling due within one year or on demand:
Other loans 20,000 20,000

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

Amounts falling due between two and five years:
Other loans - 2-5 years 28,212 40,000

Amounts falling due in more than five years:

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

11. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£    £   
Deferred tax 55,593 1,027

HARI & FRIENDS LIMITED (REGISTERED NUMBER: 01341519)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

11. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 April 2023 1,027
Provided during year 54,566
Balance at 31 March 2024 55,593

12. 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

13. RELATED PARTY DISCLOSURES

At the balance sheet date the companies was owed the following amounts:
Related Entity Name 2024 2023
Hari Salem Ltd (£196) (£196)
Hari's Notting Hill Ltd (£42,556) (£31,637)
Salem Projects Limited (£102,600) (£97,097)
Tassies Hairdressers Limited (£243,723) (£254,102)
Hari's Clapham Ltd £538,195 £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 £404,015 (2023: £399,964), 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 £68,212 (2023: £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.