Silverfin false 31/03/2024 01/04/2023 31/03/2024 Plus 4 Property Limited 04/06/2024 Bob And The Mole Ltd 04/06/2024 Glen Dayle Ltd 01/04/2022 Milimo Ltd 04/06/2024 01/01/2011 Robanna Ltd 04/06/2024 01/01/2011 24 September 2024 OC346524 2024-03-31 OC346524 bus:Director1 2024-03-31 OC346524 bus:Director2 2024-03-31 OC346524 bus:Director3 2024-03-31 OC346524 bus:Director4 2024-03-31 OC346524 bus:Director5 2024-03-31 OC346524 2023-03-31 OC346524 core:CurrentFinancialInstruments 2024-03-31 OC346524 core:CurrentFinancialInstruments 2023-03-31 OC346524 core:FurnitureFittings 2023-03-31 OC346524 core:OfficeEquipment 2023-03-31 OC346524 core:ComputerEquipment 2023-03-31 OC346524 core:FurnitureFittings 2024-03-31 OC346524 core:OfficeEquipment 2024-03-31 OC346524 core:ComputerEquipment 2024-03-31 OC346524 core:WithinOneYear 2024-03-31 OC346524 core:WithinOneYear 2023-03-31 OC346524 core:BetweenOneFiveYears 2024-03-31 OC346524 core:BetweenOneFiveYears 2023-03-31 OC346524 2023-04-01 2024-03-31 OC346524 bus:FullAccounts 2023-04-01 2024-03-31 OC346524 bus:SmallEntities 2023-04-01 2024-03-31 OC346524 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 OC346524 bus:LimitedLiabilityPartnershipLLP 2023-04-01 2024-03-31 OC346524 bus:Director1 2023-04-01 2024-03-31 OC346524 bus:Director2 2023-04-01 2024-03-31 OC346524 bus:Director3 2023-04-01 2024-03-31 OC346524 bus:Director4 2023-04-01 2024-03-31 OC346524 bus:Director5 2023-04-01 2024-03-31 OC346524 core:FurnitureFittings core:TopRangeValue 2023-04-01 2024-03-31 OC346524 core:OfficeEquipment core:TopRangeValue 2023-04-01 2024-03-31 OC346524 core:ComputerEquipment core:TopRangeValue 2023-04-01 2024-03-31 OC346524 2022-04-01 2023-03-31 OC346524 core:FurnitureFittings 2023-04-01 2024-03-31 OC346524 core:OfficeEquipment 2023-04-01 2024-03-31 OC346524 core:ComputerEquipment 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Company No: OC346524 (England and Wales)

HANOVER GREEN LLP

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

HANOVER GREEN LLP

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

HANOVER GREEN LLP

STATEMENT OF FINANCIAL POSITION

As at 31 March 2024
HANOVER GREEN LLP

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 22,339 4,950
22,339 4,950
Current assets
Debtors 2,382,359 1,138,649
Cash at bank and in hand 1,368,027 1,887,233
3,750,386 3,025,882
Creditors: amounts falling due within one year ( 1,344,382) ( 1,202,503)
Net current assets 2,406,004 1,823,379
Total assets less current liabilities 2,428,343 1,828,329
Net assets attributable to members 2,428,343 1,828,329
Represented by
Loans and other debts due to members within one year
Members' capital classified as a liability 900 900
Other amounts 2,427,443 1,827,429
2,428,343 1,828,329
Members' other interests
0 0
2,428,343 1,828,329
Total members' interests
Loans and other debts due to members 2,428,343 1,828,329
2,428,343 1,828,329

For the financial year ending 31 March 2024 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.

Members' responsibilities:

Hanover Green LLP has no equity and, in accordance with the provisions contained within the Statement of Recommended Practice "Accounting by Limited Liability Partnerships", has not presented a Statement of Changes in Equity.

The financial statements of Hanover Green LLP (registered number: OC346524) were approved and authorised for issue by the Board of Directors on 24 September 2024. They were signed on its behalf by:

Plus 4 Property Limited
Designated member
HANOVER GREEN LLP

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
HANOVER GREEN LLP

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Hanover Green LLP is a limited liability partnership, incorporated in the United Kingdom under the Limited Liability Partnerships Act 2000 and is registered in England and Wales. The address of the LLP's registered office is 33-34 Great Pulteney Street, London, W1F 9NP.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Limited Liability Partnerships Act 2000 as applicable to companies subject to the small companies regime and the requirements of the Statement of Recommended Practice Accounting by Limited Liability Partnerships issued in December 2021 (SORP 2022).

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006.

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the LLP and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover in respect of the professional department represents services performed for external customers and is recognised on a project by project basis as activity progresses to reflect the firm’s partial performance of its contractual obligations. Activity performance in excess of invoices raised is included within amounts recoverable on contracts and is disclosed in other debtors. Where amounts have been invoiced in excess of work performed, the excess is included within payments in advance and disclosed in other creditors.

For other turnover where the right to consideration is conditional or contingent on a specified future event or outcome, the occurence of which is outside the control of the firm, revenue is not recognised until that critical event occurs.

Income tax

The LLP is not subject to income tax. Taxable profits and losses are allocated to the members in accordance with the LLP agreement and any liability is taxable on the members.

Pensions

The LLP operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the LLP pays fixed contributions into a separate entity. Once the contributions have been paid the LLP has no further payment obligations.

The contributions are recognised as an expense in the Statement of Comprehensive Income when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the LLP in independently administered funds.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Fixtures and fittings 3 years straight line
Office equipment 3 years straight line
Computer equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The LLP as lessee
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans to and from related parties.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Comprehensive Income.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Division and distribution of profits

A division of profits is the mechanism by which the profits of an LLP become a debt due to members. The LLP divides profits automatically at the end of the financial period and these are recognised as Members' remuneration charged as an expense in the Statement of Comprehensive Income.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the LLP, including members, during the year 15 15

3. Tangible assets

Fixtures and fittings Office equipment Computer equipment Total
£ £ £ £
Cost
At 01 April 2023 34,289 12,843 52,104 99,236
Additions 0 0 20,786 20,786
At 31 March 2024 34,289 12,843 72,890 120,022
Accumulated depreciation
At 01 April 2023 34,289 12,843 47,154 94,286
Charge for the financial year 0 0 3,397 3,397
At 31 March 2024 34,289 12,843 50,551 97,683
Net book value
At 31 March 2024 0 0 22,339 22,339
At 31 March 2023 0 0 4,950 4,950

4. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

2024 2023
£ £
within one year 133,968 110,912
between one and five years 427,663 0
561,631 110,912

5. Related party transactions

All members are related parties and transactions with them are disclosed in the Reconciliation of Members' Interests.