IRIS Accounts Production v25.2.0.378 05879575 Board of Directors Board of Directors 1.1.24 31.12.24 31.12.24 Medium entities true false true true false false true false These accounts have been prepared in accordance with the provisions applicable to companies subject to the medium-sized companies regime. Fair value model Ordinary 1.00000 iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure utr:tonnes utr:kWh 05879575 2023-12-31 05879575 2024-12-31 05879575 2024-01-01 2024-12-31 05879575 2022-12-31 05879575 2023-01-01 2023-12-31 05879575 2023-12-31 05879575 ns15:EnglandWales 2024-01-01 2024-12-31 05879575 ns14:PoundSterling 2024-01-01 2024-12-31 05879575 ns10:Director1 2024-01-01 2024-12-31 05879575 ns10:Director2 2024-01-01 2024-12-31 05879575 ns10:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 05879575 ns10:MediumEntities 2024-01-01 2024-12-31 05879575 ns10:Audited 2024-01-01 2024-12-31 05879575 ns10:Medium-sizedCompaniesRegimeForDirectorsReport 2024-01-01 2024-12-31 05879575 ns10:Medium-sizedCompaniesRegimeForAccounts 2024-01-01 2024-12-31 05879575 ns10:FullAccounts 2024-01-01 2024-12-31 05879575 ns10:OrdinaryShareClass1 2024-01-01 2024-12-31 05879575 ns10:CompanySecretary1 2024-01-01 2024-12-31 05879575 ns10:RegisteredOffice 2024-01-01 2024-12-31 05879575 ns5:CurrentFinancialInstruments 2024-12-31 05879575 ns5:CurrentFinancialInstruments 2023-12-31 05879575 ns5:ShareCapital 2024-12-31 05879575 ns5:ShareCapital 2023-12-31 05879575 ns5:RetainedEarningsAccumulatedLosses 2024-12-31 05879575 ns5:RetainedEarningsAccumulatedLosses 2023-12-31 05879575 ns5:ShareCapital 2022-12-31 05879575 ns5:RetainedEarningsAccumulatedLosses 2022-12-31 05879575 ns5:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 05879575 ns5:RetainedEarningsAccumulatedLosses 2024-01-01 2024-12-31 05879575 ns5:LeaseholdImprovements 2024-01-01 2024-12-31 05879575 ns5:FurnitureFittings 2024-01-01 2024-12-31 05879575 ns5:ComputerEquipment 2024-01-01 2024-12-31 05879575 ns15:UnitedKingdom 2024-01-01 2024-12-31 05879575 ns15:UnitedKingdom 2023-01-01 2023-12-31 05879575 ns15:Europe 2024-01-01 2024-12-31 05879575 ns15:Europe 2023-01-01 2023-12-31 05879575 ns5:TotalGeographicSegmentsIncludingAnyUnallocatedAmount 2024-01-01 2024-12-31 05879575 ns5:TotalGeographicSegmentsIncludingAnyUnallocatedAmount 2023-01-01 2023-12-31 05879575 ns5:OwnedAssets 2024-01-01 2024-12-31 05879575 ns5:OwnedAssets 2023-01-01 2023-12-31 05879575 ns10:OrdinaryShareClass1 2023-01-01 2023-12-31 05879575 ns5:LeaseholdImprovements 2023-12-31 05879575 ns5:FurnitureFittings 2023-12-31 05879575 ns5:ComputerEquipment 2023-12-31 05879575 ns5:LeaseholdImprovements 2024-12-31 05879575 ns5:FurnitureFittings 2024-12-31 05879575 ns5:ComputerEquipment 2024-12-31 05879575 ns5:LeaseholdImprovements 2023-12-31 05879575 ns5:FurnitureFittings 2023-12-31 05879575 ns5:ComputerEquipment 2023-12-31 05879575 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2024-12-31 05879575 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2023-12-31 05879575 ns5:CurrentFinancialInstruments 2024-01-01 2024-12-31 05879575 ns5:WithinOneYear 2024-12-31 05879575 ns5:WithinOneYear 2023-12-31 05879575 ns5:BetweenOneFiveYears 2024-12-31 05879575 ns5:BetweenOneFiveYears 2023-12-31 05879575 ns5:MoreThanFiveYears 2024-12-31 05879575 ns5:MoreThanFiveYears 2023-12-31 05879575 ns5:AllPeriods 2024-12-31 05879575 ns5:AllPeriods 2023-12-31 05879575 ns5:DeferredTaxation 2023-12-31 05879575 ns5:DeferredTaxation 2024-01-01 2024-12-31 05879575 ns5:DeferredTaxation 2024-12-31 05879575 ns10:OrdinaryShareClass1 2024-12-31 05879575 ns5:RetainedEarningsAccumulatedLosses 2023-12-31

REGISTERED NUMBER: 05879575 (England and Wales)

| Strategic Report, Report of the Directors and |

| Financial Statements |

| for the Year Ended 31 December 2024 |

| for |

| Hanson Regan Limited |

Hanson Regan Limited (Registered number: 05879575)

Contents of the Financial Statements

for the Year Ended 31 December 2024

Page |

Company Information | 1 |

Strategic Report | 2 |

Report of the Directors | 4 |

Report of the Independent Auditors | 6 |

Income Statement | 10 |

Other Comprehensive Income | 11 |

Balance Sheet | 12 |

Statement of Changes in Equity | 13 |

Cash Flow Statement | 14 |

Notes to the Cash Flow Statement | 15 |

Notes to the Financial Statements | 16 |

Hanson Regan Limited

Company Information

for the Year Ended 31 December 2024

| DIRECTORS: | J T Kelly

| G Kelly

| SECRETARY: | Mrs S E Breen

| REGISTERED OFFICE: | T Bromley

| 15-17 London Road

| Bromley

| Kent

| BR1 1DE

| REGISTERED NUMBER: | 05879575 (England and Wales)

| AUDITORS: | Nichols & Co ( Accountancy ) Limited

| Chartered Accountants

| and Statutory Auditors

| Unit 7

| Mulberry Place

| Pinnell Road

| Eltham

| London

| SE9 6AR

Hanson Regan Limited (Registered number: 05879575)

Strategic Report

for the Year Ended 31 December 2024

The directors present their strategic report for the year ended 31 December 2024.

The purpose of the strategic report is to provide shareholders with information to assess how the directors (registered at companies house) have performed their duties to promote the success of the company, for the benefit of the shareholders as a whole and in doing so having regard, amongst other matters listed below:

a) the likely consequences for any decision in the long term;

b) the interests of the company's employees;

c) the need to foster the company's business relationships, with suppliers, customers and others;

d) the impact of the company's operations on the community and the environment;

e) the desirability of the company maintaining a reputation for high standards of business conduct; and

f) the need to act fairly as between members of the company, where members are the shareholders of the company.

Directors duty should be consistent with the principle of enlightened shareholder value, recognising that companies are run for the benefit of shareholders, but that the long-term success of a business is dependent on maintaining relationships with stakeholders and considering the external impact of the company's activities. This report should explain how the board has had regard to the broader matters in our actions, behaviors and decisions.

REVIEW OF BUSINESS

Our development is now guided by the Hanson Regan Vision, a five-year plan that is regularly reviewed by our Board. This plan aligns with our core values of Team, Delivery, and Truth, while balancing seven strategic pillars to promote sustainable growth:

1. Customer Experience

2. Workforce Development

3. Operational Excellence

4. Technology and Digital Transformation

5. Innovation and Agility

6. Sustainability and Social Responsibility

7. Financial Performance

We are committed to incorporating the requirements cascaded to us by our stakeholders, including legislative and regulatory changes. Additionally, we continue to integrate sustainable practices and social responsibility into our business model, further enhancing our brand reputation.

Our key priorities are to serve our clients, our candidates and our people. We strive for world-class delivery of genuine, new value to all stakeholders, with a mission to consistently provide the precise expertise needed, every time; to always surprise and delight our clients and to never send a disappointing introduction to any client or prospect. Our goal is to make a positive difference, act ethically, nurture fairness and inclusivity; give back to our community, while being gentle on the planet, delivered in a sustainable way.

As we wrote last year, we are undergoing restructuring and implementing significant changes to establish a foundation for future growth. We are managing our cost base, reducing the risks associated with client over-concentration, and attracting senior salespeople of the right calibre. We consider ourselves a "learning company" and continually invest in training and coaching to develop a skilled and motivated workforce. We strive to create a cohesive team that values inclusive collaboration while balancing health, work, and social life.

At the core of our plans has been the successful recruitment of a new Sales Director in 2024.

ISO standards have been maintained; 9001 (Quality Management Systems), 14001 (Environmental Management), 27001 (Information Security Management) and 45001 (Health & Safety) and achieving a clear audit and recertification in April 2024.

In 2025 we will be working on the following programmes:

- Remuneration review - we will assess long-term bonus and incentive plans

- Further developing our business and client development programme

- Implementing a revised Marketing Plan; including enhancing our services offerings and new value to clients

- Promoting innovation, agility, and efficiency, we will continually explore opportunities for digital transformation

Hanson Regan Limited (Registered number: 05879575)

Strategic Report

for the Year Ended 31 December 2024

PERFORMANCE

The company recorded a pre-tax loss of £72k in 2024, compared to a profit of £75k in 2023. This decline is primarily due to a significant reduction in turnover and a drop in contractor placements during the year.

Turnover has decreased from £23m in 2023 to £14m in 2024.

The net shareholders' fund has also decreased slightly from £2.1m in 2023 to £1.8m in 2024.

MARKETS

Hanson Regan are SAP specialists, prioritising the development of clients in Europe, who have SAP at the heart of their ERP and technology operations and typically orchestrate people/contractors for substantial change projects.

Throughout 2024, the European market for SAP contractors has navigated a backdrop of macroeconomic and geopolitical uncertainty, which have led some organisations to pause or slow down discretionary IT spend. As a result, there are areas of uneven demand, particularly in sectors more susceptible to cost pressures. However, we are observing some signs of renewed momentum, with organisations progressing with planned SAP upgrades-notably S/4HANA migrations-driven by digital transformation goals and the upcoming end-of-life for legacy systems. This activity is generating targeted demand for highly skilled SAP professionals, particularly in areas such as finance, supply chain, and cloud integration. The market remains competitive, with staffing firms, solutions providers, and MSPs all vying for client share. Nonetheless, clients continue to value speed, flexibility, and specialist expertise, which positions us well to capture growth in key segments as investment cycles resume.

ON BEHALF OF THE BOARD OF DIRECTORS:

J T Kelly - Director

15 September 2025

Hanson Regan Limited (Registered number: 05879575)

Report of the Directors

for the Year Ended 31 December 2024

The directors present their report with the financial statements of the company for the year ended 31 December 2024.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of Recruitment Consultancy.

DIVIDENDS

Interim dividends totalling £1940 per share were paid during the year. The directors recommend that no final dividend be paid.

The total distribution of dividends for the year ended 31 December 2024 will be £ 194,000 .

DIRECTORS

The directors shown below have held office during the whole of the period from 1 January 2024 to the date of this report.

J T Kelly

G Kelly

POLITICAL DONATIONS AND EXPENDITURE

The company made donations of £1,309 (2023 - £2,880) in the year to various charitable foundations, not of a political nature.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

- | select suitable accounting policies and then apply them consistently;

- | make judgements and accounting estimates that are reasonable and prudent;

- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

Hanson Regan Limited (Registered number: 05879575)

Report of the Directors

for the Year Ended 31 December 2024

AUDITORS

The auditors, Nichols & Co ( Accountancy ) Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

J T Kelly - Director

15 September 2025

Report of the Independent Auditors to the Members of

Hanson Regan Limited

Opinion

We have audited the financial statements of Hanson Regan Limited (the 'company') for the year ended 31 December 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

- | give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its loss for the year then ended;

- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- | have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

- | the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- | the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of

Hanson Regan Limited

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

- | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

- | the financial statements are not in agreement with the accounting records and returns; or

- | certain disclosures of directors' remuneration specified by law are not made; or

- | we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of

Hanson Regan Limited

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

- The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations.

- Enquiring of management of whether they are aware of any non-compliance with laws and regulations.

- Enquiring of management whether they have any knowledge of any actual, suspected or alleged fraud.

- Enquiring of management their internal controls established to mitigate risk related to fraud or non-compliance with laws and regulations.

- Discussions amongst engagement team on how and where fraud might occur in the financial statements and any potential indicators of fraud. As part of this discussion, we identified potential for fraud in posting of unusual journals.

- Obtaining understanding of the legal and regulatory framework the company operates in focusing on those laws and regulations that had a direct effect on the financial statements or had a fundamental effect on the operations. The key laws and regulations we considered in this context included UK Companies Act, tax legislation and employment law.

To address the risk of fraud through management bias and override of controls we:

- Performed analytical procedures to identify any unusual or unexpected relationships.

- Audited the risk of management override of controls, including through testing journals entries for appropriateness.

In response to the risk of irregularities and non compliance with laws and regulations, we designed procedures which included, but are not limited to:

- Agreeing financial statements disclosures to underlying supporting documentation.

- Enquiring of management as to actual and potential litigation claims.

The test nature and other inherent limitations of an audit, together with the inherent limitations of any accounting and

internal control system, mean that there is an unavoidable risk that even some material misstatements in respect of

irregularities may remain undiscovered even though the audit is properly planned and performed in accordance with ISAs (UK). Furthermore, the more removed that laws and regulations are from financial transactions, the less likely that we would become aware of non-compliance. Our examination should therefore not be relied upon to disclose all such material misstatements or frauds, errors or instances of non-compliance that might exist. The responsibility for safeguarding the assets of the company and for the prevention and detection of fraud, error and non-compliance with law or regulations rests with the directors.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of

Hanson Regan Limited

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Steven Nichols FCA CTA (Senior Statutory Auditor)

for and on behalf of Nichols & Co ( Accountancy ) Limited

Chartered Accountants

and Statutory Auditors

Unit 7

Mulberry Place

Pinnell Road

Eltham

London

SE9 6AR

16 September 2025

Hanson Regan Limited (Registered number: 05879575)

Income Statement

for the Year Ended 31 December 2024

31.12.24 | 31.12.23 |

| Notes | £ | £

TURNOVER | 3 | 14,388,358 |  | 22,985,129 |  |

Cost of sales | (12,638,489 | ) | (20,572,906 | ) |

GROSS PROFIT | 1,749,869 |  | 2,412,223 |  |

Administrative expenses | (1,874,121 | ) | (2,353,107 | ) |

(124,252 | ) | 59,116 |  |

Other operating income | - |  | 3,000 |  |

OPERATING (LOSS)/PROFIT | 5 | (124,252 | ) | 62,116 |  |

Interest receivable and similar income | 52,018 |  | 13,700 |  |

(LOSS)/PROFIT BEFORE TAXATION | (72,234 | ) | 75,816 |  |

Tax on (loss)/profit | 6 | 14,113 |  | (62,031 | ) |

(LOSS)/PROFIT FOR THE FINANCIAL YEAR | (58,121 | ) | 13,785 |  |

Hanson Regan Limited (Registered number: 05879575)

Other Comprehensive Income

for the Year Ended 31 December 2024

31.12.24 | 31.12.23 |

| Notes | £ | £

(LOSS)/PROFIT FOR THE YEAR | (58,121 | ) | 13,785 |  |

OTHER COMPREHENSIVE INCOME | - |  | - |  |

TOTAL COMPREHENSIVE INCOME FOR THE YEAR | (58,121 | ) | 13,785 |  |

Hanson Regan Limited (Registered number: 05879575)

Balance Sheet

31 December 2024

31.12.24 | 31.12.23 |

| Notes | £ | £

FIXED ASSETS

Tangible assets | 8 | 276,965 |  | 335,436 |  |

Investment property | 9 | 22,777 |  | 22,777 |  |

299,742 |  | 358,213 |  |

CURRENT ASSETS

Debtors | 10 | 2,371,165 |  | 3,116,419 |  |

Cash at bank and in hand | 1,503,408 |  | 1,958,827 |  |

3,874,573 |  | 5,075,246 |  |

CREDITORS

Amounts falling due within one year | 11 | (2,227,795 | ) | (3,223,764 | ) |

NET CURRENT ASSETS | 1,646,778 |  | 1,851,482 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 1,946,520 |  | 2,209,695 |  |

PROVISIONS FOR LIABILITIES | 14 | (59,309 | ) | (70,363 | ) |

NET ASSETS | 1,887,211 |  | 2,139,332 |  |

CAPITAL AND RESERVES

Called up share capital | 15 | 100 |  | 100 |  |

Retained earnings | 16 | 1,887,111 |  | 2,139,232 |  |

SHAREHOLDERS' FUNDS | 1,887,211 |  | 2,139,332 |  |

The financial statements were approved by the Board of Directors and authorised for issue on 15 September 2025 and were signed on its behalf by:

J T Kelly - Director

G Kelly - Director

Hanson Regan Limited (Registered number: 05879575)

Statement of Changes in Equity

for the Year Ended 31 December 2024

Called up |  |

share | Retained | Total |

capital | earnings | equity |

| £ | £ | £

Balance at 1 January 2023 | 100 |  | 2,319,447 |  | 2,319,547 |  |

Changes in equity

Dividends | - |  | (194,000 | ) | (194,000 | ) |

Total comprehensive income | - |  | 13,785 |  | 13,785 |  |

Balance at 31 December 2023 | 100 |  | 2,139,232 |  | 2,139,332 |  |

Changes in equity

Dividends | - |  | (194,000 | ) | (194,000 | ) |

Total comprehensive income | - |  | (58,121 | ) | (58,121 | ) |

Balance at 31 December 2024 | 100 |  | 1,887,111 |  | 1,887,211 |  |

Hanson Regan Limited (Registered number: 05879575)

Cash Flow Statement

for the Year Ended 31 December 2024

31.12.24 | 31.12.23 |

| Notes | £ | £

Cash flows from operating activities

Cash generated from operations | 1 | (202,078 | ) | 387,425 |  |

Tax paid | (22,721 | ) | (105,219 | ) |

Net cash from operating activities | (224,799 | ) | 282,206 |  |

Cash flows from investing activities

Purchase of tangible fixed assets | (999 | ) | (28,247 | ) |

Interest received | 52,018 |  | 13,700 |  |

Net cash from investing activities | 51,019 |  | (14,547 | ) |

Cash flows from financing activities

Amount withdrawn by directors | 14,062 |  | 22,123 |  |

Equity dividends paid | (194,000 | ) | (194,000 | ) |

Net cash from financing activities | (179,938 | ) | (171,877 | ) |

(Decrease)/increase in cash and cash equivalents | (353,718 | ) | 95,782 |  |

Cash and cash equivalents at beginning of year | 2 | 1,516,002 |  | 1,420,220 |  |

Cash and cash equivalents at end of year | 2 | 1,162,284 |  | 1,516,002 |  |

Hanson Regan Limited (Registered number: 05879575)

Notes to the Cash Flow Statement

for the Year Ended 31 December 2024

1. | RECONCILIATION OF (LOSS)/PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

31.12.24 | 31.12.23 |

| £ | £

| (Loss)/profit before taxation | (72,234 | ) | 75,816 |  |

| Depreciation charges | 59,470 |  | 58,640 |  |

| Finance income | (52,018 | ) | (13,700 | ) |

(64,782 | ) | 120,756 |  |

| Decrease in trade and other debtors | 748,313 |  | 2,323,830 |  |

| Decrease in trade and other creditors | (885,609 | ) | (2,057,161 | ) |

| Cash generated from operations | (202,078 | ) | 387,425 |  |

2. | CASH AND CASH EQUIVALENTS

| The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

| Year ended 31 December 2024

| 31.12.24 |  | 1.1.24

| £ | £

| Cash and cash equivalents | 1,503,408 |  | 1,958,827 |  |

| Bank overdrafts | (341,124 | ) | (442,825 | ) |

1,162,284 |  | 1,516,002 |  |

| Year ended 31 December 2023

| 31.12.23 |  | 1.1.23

| £ | £

| Cash and cash equivalents | 1,958,827 |  | 2,212,803 |  |

| Bank overdrafts | (442,825 | ) | (792,583 | ) |

1,516,002 |  | 1,420,220 |  |

3. | ANALYSIS OF CHANGES IN NET FUNDS

| At 1.1.24 | Cash flow | At 31.12.24

| £ | £ | £

| Net cash |

| Cash at bank and in hand | 1,958,827 |  | (455,419 | ) | 1,503,408 |  |

| Bank overdrafts | (442,825 | ) | 101,701 |  | (341,124 | ) |

1,516,002 |  | (353,718 | ) | 1,162,284 |  |

| Total | 1,516,002 |  | (353,718 | ) | 1,162,284 |  |

Hanson Regan Limited (Registered number: 05879575)

Notes to the Financial Statements

for the Year Ended 31 December 2024

1. | STATUTORY INFORMATION

| Hanson Regan 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" 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 represents net invoiced services excluding value added tax.

| TANGIBLE FIXED ASSETS

| Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

| Improvements to property | - | Straight line basis over useful lives

| Fixtures and fittings | - | 25% on reducing balance

| Computer equipment | - | 25% on reducing balance

| 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 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.

| 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.

Hanson Regan Limited (Registered number: 05879575)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2024

3. | TURNOVER

| The turnover and loss (2023 - profit) before taxation are attributable to the one principal activity of the company.

| An analysis of turnover by geographical market is given below:

31.12.24 | 31.12.23 |

| £ | £

| United Kingdom | 237,693 |  | - |  |

| Europe | 14,150,665 |  | 22,985,129 |  |

14,388,358 |  | 22,985,129 |  |

4. | EMPLOYEES AND DIRECTORS

31.12.24 | 31.12.23 |

| £ | £

| Wages and salaries | 995,419 |  | 1,489,161 |  |

| The average number of employees during the year was as follows:

31.12.24 | 31.12.23 |

| Directors | 2 |  | 2 |  |

| Sales | 8 |  | 14 |  |

| Back Office | 8 |  | 11 |  |

18 |  | 27 |  |

31.12.24 | 31.12.23 |

| £ | £

| Directors' remuneration | 21,970 |  | 21,790 |  |

5. | OPERATING (LOSS)/PROFIT

| The operating loss (2023 - operating profit) is stated after charging:

31.12.24 | 31.12.23 |

| £ | £

| Depreciation - owned assets | 59,470 |  | 58,640 |  |

| Auditors remuneration | 11,000 |  | 10,500 |  |

| Foreign exchange differences | 40,327 |  | 9,002 |  |

6. | TAXATION

| Analysis of the tax (credit)/charge

| The tax (credit)/charge on the loss for the year was as follows:

31.12.24 | 31.12.23 |

| £ | £

| Current tax:

| UK corporation tax | (3,059 | ) | 22,721 |  |

| Deferred tax | (11,054 | ) | 39,310 |  |

| Tax on (loss)/profit | (14,113 | ) | 62,031 |  |

Hanson Regan Limited (Registered number: 05879575)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2024

6. | TAXATION - continued

| RECONCILIATION OF TOTAL TAX (CREDIT)/CHARGE INCLUDED IN PROFIT AND LOSS

| The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

31.12.24 | 31.12.23 |

| £ | £

| (Loss)/profit before tax | (72,234 | ) | 75,816 |  |

| (Loss)/profit multiplied by the standard rate of corporation tax in the UK of 0% (2023 - 21.931%) | - |  | 16,627 |  |

| Effects of:

| Expenses not deductible for tax purposes | - |  | 250 |  |

| Depreciation in excess of capital allowances | - |  | 5,844 |  |

| Deferred Tax | (11,054 | ) | 39,310 |  |

| Corporation tax refund | (3,059 | ) | - |  |

| Total tax (credit)/charge | (14,113 | ) | 62,031 |  |

7. | DIVIDENDS

31.12.24 | 31.12.23 |

| £ | £

| Interim | 194,000 |  | 194,000 |  |

8. | TANGIBLE FIXED ASSETS

Fixtures |

Improvements | and | Computer |

to property | fittings | equipment | Totals |

| £ | £ | £ | £

| COST

| At 1 January 2024 | 268,541 |  | 164,301 |  | 232,179 |  | 665,021 |  |

| Additions | - |  | - |  | 999 |  | 999 |  |

| At 31 December 2024 | 268,541 |  | 164,301 |  | 233,178 |  | 666,020 |  |

| DEPRECIATION

| At 1 January 2024 | 81,298 |  | 63,282 |  | 185,005 |  | 329,585 |  |

| Charge for year | 25,103 |  | 17,170 |  | 17,197 |  | 59,470 |  |

| At 31 December 2024 | 106,401 |  | 80,452 |  | 202,202 |  | 389,055 |  |

| NET BOOK VALUE

| At 31 December 2024 | 162,140 |  | 83,849 |  | 30,976 |  | 276,965 |  |

| At 31 December 2023 | 187,243 |  | 101,019 |  | 47,174 |  | 335,436 |  |

Hanson Regan Limited (Registered number: 05879575)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2024

9. | INVESTMENT PROPERTY

Total |

| £

| FAIR VALUE

| At 1 January 2024

| and 31 December 2024 | 22,777 |  |

| NET BOOK VALUE

| At 31 December 2024 | 22,777 |  |

| At 31 December 2023 | 22,777 |  |

| Fair value at 31 December 2024 is represented by:

| £

| Valuation in 2015 | 22,777 |  |

| If the Investment Property had not been revalued it would have been included at the following historical cost:

31.12.24 | 31.12.23 |

| £ | £

| Cost | 22,777 |  | 22,777 |  |

| The Investment Property was valued on an open market basis on 31 December 2024 by the Directors .

10. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

31.12.24 | 31.12.23 |

| £ | £

| Trade debtors | 2,098,758 |  | 2,542,813 |  |

| Other debtors | 81,734 |  | 361,698 |  |

| Corporation Tax Receivable | 3,059 |  | - |  |

| VAT | 26,772 |  | 52,551 |  |

| Prepayments and accrued income | 160,842 |  | 159,357 |  |

2,371,165 |  | 3,116,419 |  |

| Included within other debtors is an investment in Kate Matthews Solutions Ltd of £4,000 (2023 - £4,000). This represents 20% of the issued ordinary share capital of Kate Matthews Solutions Ltd.

| Also included within other debtors is an investment in Trifol Resources Limited, a Irish company, of £17,027 (2023 - £Nil). This represents a shareholding of 10,000 ordinary share capital of Trifol Resources Limited.

11. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

31.12.24 | 31.12.23 |

| £ | £

| Bank loans and overdrafts (see note 12) | 341,124 |  | 442,825 |  |

| Trade creditors | 1,001,902 |  | 1,698,088 |  |

| Corporation tax | - |  | 22,721 |  |

| Social security and other taxes | 19,022 |  | 47,477 |  |

| Other creditors | 1,252 |  | 1,678 |  |

| Credit card | 9,782 |  | (824 | ) |

| Directors' current accounts | 146,199 |  | 132,137 |  |

| Accrued expenses | 708,514 |  | 879,662 |  |

2,227,795 |  | 3,223,764 |  |

Hanson Regan Limited (Registered number: 05879575)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2024

11. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued

| Included within bank loans and overdrafts is £311,313 (2023 - £442,825) which is the advance from the company's invoice discounting facility. This advance is secured on certain of the company's book debts.

12. | LOANS

| An analysis of the maturity of loans is given below:

31.12.24 | 31.12.23 |

| £ | £

| Amounts falling due within one year or on demand:

| Bank overdrafts | 341,124 |  | 442,825 |  |

13. | LEASING AGREEMENTS

| Minimum lease payments under non-cancellable operating leases fall due as follows:

31.12.24 | 31.12.23 |

| £ | £

| Within one year | 115,890 |  | 115,890 |  |

| Between one and five years | 463,560 |  | 463,560 |  |

| In more than five years | 338,013 |  | 453,902 |  |

917,463 |  | 1,033,352 |  |

14. | PROVISIONS FOR LIABILITIES

31.12.24 | 31.12.23 |

| £ | £

| Deferred tax | 59,309 |  | 70,363 |  |

Deferred tax |

| £

| Balance at 1 January 2024 | 70,363 |  |

| Provided during year | (11,054 | ) |

| Balance at 31 December 2024 | 59,309 |  |

15. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 31.12.24 | 31.12.23 |

value: |  | £ | £

| 100 | Ordinary | £1 | 100 |  | 100 |  |

Hanson Regan Limited (Registered number: 05879575)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2024

16. | RESERVES

Retained |

earnings |

| £

| At 1 January 2024 | 2,139,232 |  |

| Deficit for the year | (58,121 | ) |

| Dividends | (194,000 | ) |

| At 31 December 2024 | 1,887,111 |  |

17. | SECURITIES

| Natwest Bank has a Debenture charge on all the assets of the company since 15/10/2008.

18. | RELATED PARTY DISCLOSURES

| Tee Time Tours Limited is a company in which Mr J T Kelly, a director of the company, has a material interest.

| At the balance sheet date, the company owed Tee Time Tours Limited £Nil (2023 - £Nil). Interest of 1.84% per annum was to be charged on any loan outstanding during the year. Interest charged this year totalled £Nil (2023 - £Nil).

| At the balance sheet date, the company owed Mr G Kelly, a director of the company £Nil (2023 - £Nil). Interest of 1.84% per annum was to be charged on any loan outstanding during the year. Interest charged this year totalled £Nil (2023 - £Nil).

| During the year, the company was invoiced £Nil (2023 - £57,878) for services provided by Kate Matthews Solutions Ltd, a company in which Hanson Regan Limited has a material interest.

| Hanson Regan Ireland, is an Irish company owned by Hanson Regan Limited. At the balance sheet date, Hanson Regan Ireland owed the company £4,335 (2023 - £4,335).

| Hanson Regan GmbH, is a German company in which both directors Mr J T Kelly and Mr G Kelly have a material interest. At the balance sheet date, Hanson Regan GmbH owed the company £34,360 (2023 - £27,358).

| At the balance sheet date, the company owed J T Kelly £136,333 (2023 - £121,358).

| At the balance sheet date, the company owed G Kelly £9,865 (2023 - £10,779).

| During the year J T Kelly drew £47,424 (2023 - £40,878) and G Kelly drew £31,914 (2023 - £30,780) against capital previously introduced.

| During the year J T Kelly introduced capital into the business of £62,399 (2023 - £62,721). G Kelly introduced capital into the business of £31,000 (2023 - £31,060).

| During the year, the company paid dividend to J Kelly of £97,000 (2023 - £97,000) and G Kelly of

| £97,000 (2023 - £97,000).

19. | ULTIMATE CONTROLLING PARTY

| Mr J T Kelly and Mr G Kelly are directors of the company and control the company by virtue of their shareholding.