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REGISTERED NUMBER: 08823360 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

HANGER19 LTD

HANGER19 LTD (REGISTERED NUMBER: 08823360)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HANGER19 LTD

COMPANY INFORMATION
for the Year Ended 31 December 2023







DIRECTORS: Mr S Large
Ms S J Leach





REGISTERED OFFICE: 4 Grovelands
Boundary Way
Hemel Hempstead
Hertfordshire
HP2 7TE





REGISTERED NUMBER: 08823360 (England and Wales)





ACCOUNTANTS: Kings Chartered Accountants
4 Grovelands
Boundary Way
Hemel Hempstead
Hertfordshire
HP2 7TE

HANGER19 LTD (REGISTERED NUMBER: 08823360)

BALANCE SHEET
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 69,586 50,165
Investments 6 100 100
69,686 50,265

CURRENT ASSETS
Stocks 7 32,000 47,000
Debtors 8 369,003 152,080
Cash at bank and in hand 97,422 455,967
498,425 655,047
CREDITORS
Amounts falling due within one year 9 165,182 314,385
NET CURRENT ASSETS 333,243 340,662
TOTAL ASSETS LESS CURRENT
LIABILITIES

402,929

390,927

CREDITORS
Amounts falling due after more than one
year

10

(19,893

)

-

PROVISIONS FOR LIABILITIES 12 (13,221 ) (9,531 )
NET ASSETS 369,815 381,396

CAPITAL AND RESERVES
Called up share capital 13 100 100
Retained earnings 369,715 381,296
SHAREHOLDERS' FUNDS 369,815 381,396

HANGER19 LTD (REGISTERED NUMBER: 08823360)

BALANCE SHEET - continued
31 December 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 October 2024 and were signed on its behalf by:





Mr S Large - Director


HANGER19 LTD (REGISTERED NUMBER: 08823360)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Hanger19 Ltd 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, net of discounts and value added taxes derived from ordinary activities. Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the service.

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.

Trademark are being amortised evenly over their estimated useful life of five years.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Tangible and intangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - Straight line over 3 years

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

HANGER19 LTD (REGISTERED NUMBER: 08823360)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with 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.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable 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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

HANGER19 LTD (REGISTERED NUMBER: 08823360)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 13 (2022 - 12 ) .

4. INTANGIBLE FIXED ASSETS
Trademark
£   
COST
At 1 January 2023
and 31 December 2023 250
AMORTISATION
At 1 January 2023
and 31 December 2023 250
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

HANGER19 LTD (REGISTERED NUMBER: 08823360)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 January 2023 22,035 55,650 24,747 102,432
Additions - 27,798 1,081 28,879
At 31 December 2023 22,035 83,448 25,828 131,311
DEPRECIATION
At 1 January 2023 8,898 20,695 22,674 52,267
Charge for year 3,284 4,507 1,667 9,458
At 31 December 2023 12,182 25,202 24,341 61,725
NET BOOK VALUE
At 31 December 2023 9,853 58,246 1,487 69,586
At 31 December 2022 13,137 34,955 2,073 50,165

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
Additions 27,798
At 31 December 2023 27,798
DEPRECIATION
Charge for year 869
At 31 December 2023 869
NET BOOK VALUE
At 31 December 2023 26,929

6. FIXED ASSET INVESTMENTS
Unlisted
investments
£   
COST
At 1 January 2023
and 31 December 2023 100
NET BOOK VALUE
At 31 December 2023 100
At 31 December 2022 100

HANGER19 LTD (REGISTERED NUMBER: 08823360)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

6. FIXED ASSET INVESTMENTS - continued

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Park&Recharge Ltd
Registered office: 4 Grovelands Boundary Way, Hemel Hempstead, Hertfordshire, HP2 7TE
Nature of business: Business and domestic software development
%
Class of shares: holding
Ordinary 100.00

7. STOCKS
31.12.23 31.12.22
£    £   
Stocks 32,000 47,000

8. DEBTORS
31.12.23 31.12.22
£    £   
Amounts falling due within one year:
Trade debtors 264,694 89,109
Other debtors 1,525 1,525
Prepayments and accrued income 53,300 47,061
Prepayments 486 1,759
320,005 139,454

Amounts falling due after more than one year:
Amounts owed by group undertakings 48,998 12,626

Aggregate amounts 369,003 152,080

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Hire purchase contracts (see note 11) 2,997 -
Trade creditors 71,438 100,454
Taxation 9,837 39,701
Social security and other taxes 8,756 9,251
Value added tax 30,791 9,872
Other creditors 12,397 121,693
Directors' current accounts 27,319 31,766
Accruals and deferred income 1,647 1,648
165,182 314,385

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Hire purchase contracts (see note 11) 19,893 -

HANGER19 LTD (REGISTERED NUMBER: 08823360)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

11. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.12.23 31.12.22
£    £   
Net obligations repayable:
Within one year 2,997 -
Between one and five years 19,893 -
22,890 -

Non-cancellable operating leases
31.12.23 31.12.22
£    £   
Within one year 20,340 23,040

12. PROVISIONS FOR LIABILITIES
31.12.23 31.12.22
£    £   
Deferred tax
Accelerated capital allowances 13,221 9,531

Deferred
tax
£   
Balance at 1 January 2023 9,531
Charge to Statement of Income and Retained Earnings during year 3,690
Balance at 31 December 2023 13,221

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
100 Ordinary £1 100 100