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REGISTERED NUMBER: 02771072 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2024

FOR

HANOVER SAFFRON LIMITED

HANOVER SAFFRON LIMITED (REGISTERED NUMBER: 02771072)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HANOVER SAFFRON LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2024







DIRECTOR: W C Shakespeare





REGISTERED OFFICE: 29-31 Saffron Hill
London
EC1N 8FH





REGISTERED NUMBER: 02771072 (England and Wales)





ACCOUNTANTS: Harrison Black Limited
East Quay
Kite Hill
Wootton Bridge
Isle of Wight
PO33 4LA

HANOVER SAFFRON LIMITED (REGISTERED NUMBER: 02771072)

BALANCE SHEET
31ST MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 3 3
Tangible assets 5 17,433 20,994
17,436 20,997

CURRENT ASSETS
Debtors 6 56,666 31,154
Prepayments and accrued income 18,215 17,209
Cash at bank and in hand 327 324
75,208 48,687
CREDITORS
Amounts falling due within one year 7 194,843 193,330
NET CURRENT LIABILITIES (119,635 ) (144,643 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(102,199

)

(123,646

)

CREDITORS
Amounts falling due after more than one
year

8

11,759

21,707
NET LIABILITIES (113,958 ) (145,353 )

CAPITAL AND RESERVES
Called up share capital 500 500
Retained earnings (114,458 ) (145,853 )
(113,958 ) (145,353 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

HANOVER SAFFRON LIMITED (REGISTERED NUMBER: 02771072)

BALANCE SHEET - continued
31ST MARCH 2024


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 director and authorised for issue on 20th September 2024 and were signed by:





W C Shakespeare - Director


HANOVER SAFFRON LIMITED (REGISTERED NUMBER: 02771072)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024


1. STATUTORY INFORMATION

Hanover Saffron 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.

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 0, is being amortised evenly over its estimated useful life of nil 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.
Plant and machinery etc - 25% on reducing balance and 15% on reducing balance

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.


HANOVER SAFFRON LIMITED (REGISTERED NUMBER: 02771072)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 6 (2023 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st April 2023
and 31st March 2024 3
NET BOOK VALUE
At 31st March 2024 3
At 31st March 2023 3

HANOVER SAFFRON LIMITED (REGISTERED NUMBER: 02771072)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st April 2023
and 31st March 2024 95,930
DEPRECIATION
At 1st April 2023 74,936
Charge for year 3,561
At 31st March 2024 78,497
NET BOOK VALUE
At 31st March 2024 17,433
At 31st March 2023 20,994

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 32,521 27,754
Amounts recoverable on contract 24,145 3,400
56,666 31,154

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 33,693 48,597
Trade creditors 46,883 32,889
Taxation and social security 36,208 65,676
Other creditors 78,059 46,168
194,843 193,330

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans 11,759 21,707

HANOVER SAFFRON LIMITED (REGISTERED NUMBER: 02771072)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st March 2024 and 31st March 2023:

2024 2023
£    £   
W C Shakespeare
Balance outstanding at start of year (40,483 ) 2,037
Amounts advanced 9,101 21,624
Amounts repaid (37,893 ) (64,144 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (69,275 ) (40,483 )