Company No: 06954517 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTORS	James David Emmett
	Paul Michael Groarke
	Mehmed Kortach
	Stephen Robin Phipps
	James Ridd

REGISTERED OFFICE	Iveco House
	Station Road
	Watford
	WD17 1ET
	United Kingdom

COMPANY NUMBER

06954517 (England and Wales)

ACCOUNTANT	Shaw Gibbs Limited
	2nd Floor
	201 Great Portland Street
	Marylebone
	London
	W1W 5AB
	United Kingdom

	Note	2024		2023
		£		£
Fixed assets
Tangible assets	4	4,253		7,276
Investments	5	50		50
		4,303		7,326
Current assets
Debtors	6	429,565		498,875
Cash at bank and in hand		32,674		25,832
		462,239		524,707
Creditors: amounts falling due within one year	7	( 416,306)		( 428,580)
Net current assets		45,933		96,127
Total assets less current liabilities		50,236		103,453
Creditors: amounts falling due after more than one year	8	( 535,515)		( 418,677)
Provision for liabilities		( 1,063)		( 1,819)
Net liabilities		( 486,342)		( 317,043)
Capital and reserves
Called-up share capital	9	100		100
Profit and loss account		( 486,442 )		( 317,143 )
Total shareholder's deficit		( 486,342)		( 317,043)

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Hanover Search Group Limited (registered number: 06954517) were approved and authorised for issue by the Board of Directors on 25 September 2025. They were signed on its behalf by:

Mehmed Kortach Director

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 Search Group Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Iveco House, Station Road, Watford, WD17 1ET, United Kingdom.

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 Companies Act 2006 as applicable to companies subject to the small companies regime.

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

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
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.

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	15 % reducing balance
Computer equipment	4 years straight line

Depreciation methods, useful lives and residual values are reviewed at each balance sheet date. The selection of these residual values and estimated lives requires the exercise of judgement. The directors are required to assess whether there is an indication of impairment to the carrying value of assets. In making that assessment, judgements are made in estimating value in use. The directors consider that the individual carrying values of assets are supportable by their value in use.

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 Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

2. Critical accounting judgements and key sources of estimation uncertainty

The preparation of financial statements requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the company accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements are disclosed within the individual accounting policies below.

3. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	29		39

4. Tangible assets

	Fixtures and fittings		Computer equipment		Total
	£		£		£
Cost
At 01 January 2024	1,217		54,013		55,230
At 31 December 2024	1,217		54,013		55,230
Accumulated depreciation
At 01 January 2024	508		47,446		47,954
Charge for the financial year	106		2,917		3,023
At 31 December 2024	614		50,363		50,977
Net book value
At 31 December 2024	603		3,650		4,253
At 31 December 2023	709		6,567		7,276

5. Fixed asset investments

Investments in subsidiaries

	2024
	£
Cost
At 01 January 2024	50
At 31 December 2024	50
Carrying value at 31 December 2024	50
Carrying value at 31 December 2023	50

6. Debtors

	2024		2023
	£		£
Trade debtors	318,037		309,266
Amounts owed by Group undertakings	39,286		110,131
Prepayments	26,357		36,603
Other debtors	45,885		42,875
	429,565		498,875

7. Creditors: amounts falling due within one year

	2024		2023
	£		£
Bank loans	36,308		67,961
Trade creditors	21,029		64,248
Amounts owed to Group undertakings	8,319		0
Accruals	187,891		49,682
Taxation and social security	155,933		235,268
Other creditors	6,826		11,421
	416,306		428,580

8. Creditors: amounts falling due after more than one year

	2024		2023
	£		£
Bank loans	0		36,308
Amounts owed to Parent undertakings	535,515		382,369
	535,515		418,677

There are no amounts included above in respect of which any security has been given by the small entity.

9. Called-up share capital

	2024		2023
	£		£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each	100		100

10. Financial commitments

Other financial commitments

	2024		2023
	£		£
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:	213,600		208,980

11. Related party transactions

The company has taken advantage of the exemption in FRS102 not to disclose transactions with other group companies which are wholly owned within the group.

12. Ultimate controlling party

Parent Company:

Hanover Search Holdings Limited

Iveco House The Junction Station Road Watford England WD17 1ET