Harman Enterprise Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 07142564 (England and Wales)

Harman Enterprise Limited

Abridged Audited Financial Statements

for the Year Ended 31 March 2025

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

Mr A Matur

REGISTERED OFFICE:

Unit 15A

Eley Trading Estate

Eley Road, Edmonton

London

N18 3BB

REGISTERED NUMBER:

07142564 (England and Wales)

SENIOR STATUTORY
AUDITOR:

Altan Kemal FCA FCCA

AUDITORS:

Alton & Co

Chartered Accountants

& Statutory Auditors

239-241 Kennington Lane

London

SE11 5QU

FIXED ASSETS

Property, plant and equipment

4

390

520

Investments

5

1

Investment property

6

12,800,817

12,515,817

12,801,208

12,516,338

CURRENT ASSETS

Debtors

7

1,382,678

1,325,152

Cash at bank

30,307

60,504

1,412,985

1,385,656

CREDITORS

Amounts falling due within one year

8

9,088,917

7,621,568

NET CURRENT LIABILITIES

(7,675,932

)

(6,235,912

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

5,125,276

6,280,426

CREDITORS

Amounts falling due after more than one
year

9

-

(1,560,000

)

PROVISIONS FOR LIABILITIES

10

(222,781

)

(222,566

)

NET ASSETS

4,902,495

4,497,860

CAPITAL AND RESERVES

Called up share capital

11

100

Fair value reserve

12

1,173,035

Retained earnings

12

3,729,360

3,324,725

SHAREHOLDERS' FUNDS

4,902,495

4,497,860

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

All the members have consented to the preparation of an abridged Income Statement for the year ended 31 March 2025 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 December 2025 and were signed by:

Mr A Matur - Director

1.	STATUTORY INFORMATION

Harman Enterprise 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 as modified by the revaluation of certain assets.

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

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

Turnover is recognised at the end of the period when rent is accrued and in the case of property development when the title of the property changes at the the completion of sale. The turnover is derived from the ordinary activities of the business.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment

-

25% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Computer

equipment

£

COST

At 1 April 2024

and 31 March 2025

2,193

DEPRECIATION

At 1 April 2024

1,673

Charge for year

130

At 31 March 2025

1,803

NET BOOK VALUE

At 31 March 2025

390

At 31 March 2024

520

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2024

and 31 March 2025

1

NET BOOK VALUE

At 31 March 2025

1

At 31 March 2024

1

Investments in shares in group undertakings represent the cost of acquiring 100% interest in the equity of Arman Enterprise Limited. This has been included in the consolidation accounts of CDH Matur Holdings Ltd, the ultimate parent company.

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

12,515,817

Additions

285,000

At 31 March 2025

12,800,817

NET BOOK VALUE

At 31 March 2025

12,800,817

At 31 March 2024

12,515,817

Fair value at 31 March 2025 is represented by:

£

Valuation in 2019

1,173,035

Cost

11,627,782

12,800,817

If investment property had not been revalued it would have been included at the following historical cost:

2025

2024

£

Cost

11,627,782

11,342,782

Investment property was valued on an open market basis on 31 March 2025 by Mr A Matur - director .

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade debtors

244,236

185,750

Amounts owed by group undertakings

18,480

Tenants deposits

20,218

19,388

Directors' current accounts

406,885

408,886

Tax refundable section 455

689,112

Prepayments

3,747

3,536

1,382,678

1,325,152

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Bank loans and overdrafts

1,518

180,478

Trade creditors

1,199

11,028

Tenants deposits

20,218

19,388

Amounts owed to group undertakings

8,877,739

7,151,031

Tax

55,681

124,420

Social security and other taxes

943

960

Pension control account

197

192

VAT

21,370

21,608

Accruals and deferred income

101,538

Accrued expenses

8,514

10,925

9,088,917

7,621,568

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR

2025

2024

£

Bank loans - 1-2 years

-

180,000

Bank loans - 2-5 years

-

540,000

Bank loans more 5 yr by instal

-

840,000

-

1,560,000

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

-

840,000

10.	PROVISIONS FOR LIABILITIES

2025

2024

£

Deferred tax

Accelerated capital allowances

(96

)

(311

)

Other timing differences

222,877

222,781

222,566

Deferred

tax

£

Balance at 1 April 2024

222,566

Charge to Income Statement during year

215

Balance at 31 March 2025

222,781

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

100

Ordinary

£1

100

12.

RESERVES

Fair

Retained

value

earnings

reserve

Totals

£

At 1 April 2024

3,324,725

1,173,035

4,497,760

Profit for the year

404,635

At 31 March 2025

3,729,360

1,173,035

4,902,395

13.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Altan Kemal FCA FCCA (Senior Statutory Auditor)

for and on behalf of Alton & Co

14.	CONTINGENT LIABILITIES

A guarantee and indemnity in standard form executed in favour of Isbank by the company for the loans taken by H B Properties N17 Ltd. The balance outstanding at 31st March 2025 was £8,765,000 (2024 - £10,261,668).

15.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

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

2025

2024

£

Mr A Matur

Balance outstanding at start of year

408,886

411,357

Amounts advanced

-

158,620

Amounts repaid

(2,001

)

(161,091

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

406,885

408,886

16.	RELATED PARTY DISCLOSURES

Entities with control, joint control or significant influence over the entity

Stablewood Ltd is holdings an investment property in trust for the company.

£

2025

2024

Transfers to related parties

-

1,901,263

Transfers from related parties

1,726,708

-

Amount due from related parties

18,480

Amount due to related parties

8,877,739

7,151,031

Rent received from related parties

440,000

Trade debtors

224,000

182,000

17.	ULTIMATE PARENT COMPANY

The controlling party is CDH Matur Holdings Ltd.