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Registration number: 08657668

Harino Limited

Unaudited Filleted Financial Statements

for the Period from 1 June 2023 to 31 July 2024

 

Harino Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 9

 

Harino Limited

(Registration number: 08657668)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

143,084

69,576

Investments

5

100

100

 

143,184

69,676

Current assets

 

Debtors

6

366,387

253,203

Cash at bank and in hand

 

3,106

580

 

369,493

253,783

Creditors: Amounts falling due within one year

7

(666,875)

(762,039)

Net current liabilities

 

(297,382)

(508,256)

Total assets less current liabilities

 

(154,198)

(438,580)

Creditors: Amounts falling due after more than one year

7

(84,400)

-

Net liabilities

 

(238,598)

(438,580)

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(238,698)

(438,680)

Shareholders' deficit

 

(238,598)

(438,580)

 

Harino Limited

(Registration number: 08657668)
Balance Sheet as at 31 July 2024

For the financial period ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 21 January 2025
 

.........................................
Mr P Prucha
Director

 

Harino Limited

Notes to the Unaudited Financial Statements for the Period from 1 June 2023 to 31 July 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 10
Chiltern Enterprise Centre
Station RoadTheale
Reading
Berkshire
RG7 4AA

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of property and car rental. Turnover is shown net of value added tax, returns, rebates and discounts.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

20% - 25% straight line

Fixtures and fittings

20% straight line

Motor vehicles

25% straight line

Computer equipment

33% straight line

Short leasehold

14% - 25% straight line

 

Harino Limited

Notes to the Unaudited Financial Statements for the Period from 1 June 2023 to 31 July 2024

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Harino Limited

Notes to the Unaudited Financial Statements for the Period from 1 June 2023 to 31 July 2024

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1 (2023 - 2).

 

Harino Limited

Notes to the Unaudited Financial Statements for the Period from 1 June 2023 to 31 July 2024

4

Tangible assets

Short leasehold
£

Computer equipment
£

Fixtures and fittings
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 June 2023

12,739

14,564

3,523

30,193

135,054

196,073

Additions

52,185

666

16,174

22,826

44,200

136,051

Disposals

-

-

-

-

(9,300)

(9,300)

At 31 July 2024

64,924

15,230

19,697

53,019

169,954

322,824

Depreciation

At 1 June 2023

8,472

8,136

2,915

8,911

98,062

126,496

Charge for the period

6,873

5,060

2,379

10,692

34,655

59,659

Eliminated on disposal

-

-

-

-

(6,415)

(6,415)

At 31 July 2024

15,345

13,196

5,294

19,603

126,302

179,740

Carrying amount

At 31 July 2024

49,579

2,034

14,403

33,416

43,652

143,084

At 31 May 2023

4,267

6,428

608

21,282

36,991

69,576

 

Harino Limited

Notes to the Unaudited Financial Statements for the Period from 1 June 2023 to 31 July 2024

5

Investments

2024
£

2023
£

Investments in subsidiaries

100

100

Subsidiaries

£

Cost or valuation

At 1 June 2023

100

Provision

Carrying amount

At 31 July 2024

100

At 31 May 2023

100

6

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

3,993

16,879

Amounts owed by related parties

9

40,000

-

Prepayments

 

22,496

47,077

Other debtors

 

299,898

189,247

   

366,387

253,203

 

Harino Limited

Notes to the Unaudited Financial Statements for the Period from 1 June 2023 to 31 July 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

23,141

9,051

Trade creditors

 

45,878

71,180

Amounts owed to related parties

9

561,252

597,460

Taxation and social security

 

29,331

-

Other creditors

 

7,273

84,348

 

666,875

762,039

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

84,400

-

8

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank borrowings

9,657

5,008

Hire purchase contracts

11,422

4,043

Other borrowings

2,062

-

23,141

9,051

 

Harino Limited

Notes to the Unaudited Financial Statements for the Period from 1 June 2023 to 31 July 2024

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

46,465

-

Hire purchase contracts

37,935

-

84,400

-

The company's subsidiary, Harino Care Limited, has a commercial finance facility which is secured over the assets of Harino Limited under a cross-company guarentee.

Amounts due under hire purchase contracts are secured over the specific financed assets.

9

Related party transactions

Transactions with the director

2024

At 1 June 2023
£

Advances to director
£

Repayments by director
£

At 31 July 2024
£

Mr P Prucha

81,819

277,884

(100,427)

259,276

2023

At 1 June 2022
£

Advances to director
£

Repayments by director
£

At 31 May 2023
£

Mr P Prucha

189,996

104,515

(212,692)

81,819

Summary of transactions with subsidiaries

The company has traded with its subsidiary, Harino Care Limited, during the year. All transactions are at arms lenth. At the balance sheet date the amount due to Harino Care Limited was £561,252 (2023 : £597,460).
 

Summary of transactions with other related parties

During the year the company were invoiced from PP Family Limited, a company which P Prucha is also a director of. The value of invoices for rent, electricity and marketing during the year were £62,852 (2023: £8,650). At the balance sheet date the amount due to PP Family Limited was £2,062 (2023: £nil).

During the year, Cyberbie Limited, a company which P Prucha is also a director of, had a loan with the company. At the balance sheet date the amount due from Cyberbie Limited was £40,000 (2023: £92,676).