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REGISTERED NUMBER: 06159011 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2023

FOR

HANOVER PLACE PROPERTIES LIMITED

HANOVER PLACE PROPERTIES LIMITED (REGISTERED NUMBER: 06159011)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


HANOVER PLACE PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2023







DIRECTORS: P B Moorhead
H J Moorhead
J C Tatham
H R Moorhead
G F Moorhead





REGISTERED OFFICE: Atlas Chambers
33 West Street
Brighton
East Sussex
BN1 2RE





REGISTERED NUMBER: 06159011 (England and Wales)





ACCOUNTANTS: Galloways Accounting
Atlas Chambers
33 West Street
Brighton
East Sussex
BN1 2RE

HANOVER PLACE PROPERTIES LIMITED (REGISTERED NUMBER: 06159011)

BALANCE SHEET
30 SEPTEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 23,422,216 23,422,216

CURRENT ASSETS
Debtors 5 275,438 236,345
Cash at bank 28,418 206,965
303,856 443,310
CREDITORS
Amounts falling due within one year 6 9,773,461 9,556,418
NET CURRENT LIABILITIES (9,469,605 ) (9,113,108 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

13,952,611

14,309,108

CREDITORS
Amounts falling due after more than one
year

7

(6,471,000

)

(7,215,000

)

PROVISIONS FOR LIABILITIES (709,616 ) (709,616 )
NET ASSETS 6,771,995 6,384,492

CAPITAL AND RESERVES
Called up share capital 1,001 1,001
Fair value reserve 2,720,169 2,720,169
Retained earnings 4,050,825 3,663,322
6,771,995 6,384,492

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

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 12 March 2024 and were signed on its behalf by:




P B Moorhead - Director


HANOVER PLACE PROPERTIES LIMITED (REGISTERED NUMBER: 06159011)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023


1. STATUTORY INFORMATION

Hanover Place Properties 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes, in respect of rental income and other sundry receipts.

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.

Financial instruments
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

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.

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

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

HANOVER PLACE PROPERTIES LIMITED (REGISTERED NUMBER: 06159011)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2022
and 30 September 2023 23,422,216
NET BOOK VALUE
At 30 September 2023 23,422,216
At 30 September 2022 23,422,216

If investment properties had not been revalued, they would have been included at the historical cost £19,992,432 (2022: £19,992,432).

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 91,448 199,779
Amounts owed by related companies 140,000 -
Other debtors 43,990 36,566
275,438 236,345

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 244,000 244,000
Trade creditors 10,398 58,615
Amounts owed to related companies 2,521,759 2,156,509
Taxation and social security 115,275 147,299
Other creditors 6,882,029 6,949,995
9,773,461 9,556,418

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 6,471,000 7,215,000

The bank loan is secured on the properties held within investment property.