REGISTERED NUMBER: 01341519 (England and Wales)

Financial Statements

for the Year Ended 31 March 2025

for

HARI & FRIENDS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

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:

JLA Accountants

42 Lytton Road

Barnet

Hertfordshire

EN5 5BY

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

306,022

374,070

306,022

374,070

CURRENT ASSETS

Stocks

6

26,288

61,767

Debtors

7

1,739,852

1,433,991

Cash at bank

667,649

381,489

2,433,789

1,877,247

CREDITORS

Amounts falling due within one year

8

1,877,681

1,593,714

NET CURRENT ASSETS

556,108

283,533

TOTAL ASSETS LESS CURRENT LIABILITIES

862,130

657,603

CREDITORS

Amounts falling due after more than one year

9

(28,212

)

(48,212

)

PROVISIONS FOR LIABILITIES

11

(42,802

)

(55,593

)

NET ASSETS

791,116

553,798

CAPITAL AND RESERVES

Called up share capital

12

98

98

Retained earnings

791,018

553,700

SHAREHOLDERS' FUNDS

791,116

553,798

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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.

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 December 2025 and were signed on its behalf by:

Mr L H Salem - Director

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 (2024 - NIL).

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

and 31 March 2025

750,000

AMORTISATION

At 1 April 2024

and 31 March 2025

750,000

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Leasehold

Plant and

and

premises

machinery

fittings

Totals

£

£

£

£

COST

At 1 April 2024

849,636

56,307

208,058

1,114,001

Additions

3,050

-

20,371

23,421

At 31 March 2025

852,686

56,307

228,429

1,137,422

DEPRECIATION

At 1 April 2024

517,871

43,629

178,431

739,931

Charge for year

78,761

3,170

9,538

91,469

At 31 March 2025

596,632

46,799

187,969

831,400

NET BOOK VALUE

At 31 March 2025

256,054

9,508

40,460

306,022

At 31 March 2024

331,765

12,678

29,627

374,070

6.

STOCKS

31.3.25

31.3.24

as restated

£

£

Stocks

26,288

61,767

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

as restated

£

£

Trade debtors

148,556

136,646

Amounts owed by group undertakings

738,350

538,195

Other debtors

336,727

244,532

Directors' current accounts

412,240

456,424

Prepayments

103,979

58,194

1,739,852

1,433,991

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

as restated

£

£

Other loans (see note 10)

20,000

20,000

Trade creditors

157,567

117,942

Amounts owed to group undertakings

163,259

145,352

Tax

111,112

103,052

VAT

109,629

109,824

Other creditors

965,918

813,934

Directors' current accounts

156,870

84,287

Accruals and deferred income

193,326

199,323

1,877,681

1,593,714

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

as restated

£

£

Other loans (see note 10)

28,212

48,212

10.

LOANS

An analysis of the maturity of loans is given below:

31.3.25

31.3.24

as restated

£

£

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

8,212

28,212

11.	PROVISIONS FOR LIABILITIES

31.3.25

31.3.24

as restated

£

£

Deferred tax

42,802

55,593

Deferred

tax

£

Balance at 1 April 2024

55,593

Provided during year

(12,791

)

Balance at 31 March 2025

42,802

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.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2025 and 31 March 2024:

31.3.25

31.3.24

as restated

£

£

Mr L H Salem

Balance outstanding at start of year

369,920

168,117

Amounts advanced

72,955

259,215

Amounts repaid

(192,635

)

(57,412

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

250,240

369,920

Miss T Salem

Balance outstanding at start of year

86,504

44,349

Amounts advanced

136,448

203,555

Amounts repaid

(60,952

)

(161,400

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

162,000

86,504

As at the balance sheet date, included in debtors due within one year is £412,240 (2024: £456,424), due and payable by the directors. The amount was fully repaid within 9 months of the balance sheet date.

14.	RELATED PARTY DISCLOSURES

At the balance sheet date the companies was owed the following amounts:

Related Entity Name

2025

2024

Hari Salem Ltd

(£196)

(£196)

Hari's Notting Hill Ltd

(£55,647)

(£42,556)

Salem Projects Limited

(£107,416)

(£102,600)

Tassies Hairdressers Limited

(£101,601)

(£243,723)

Hari's Clapham Ltd

£484,762

£538,195

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 £156,870 (2024:£84,287), 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 £48,212 (2024: £68,212), 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.