Hanover Insolvency TD Ltd - Limited company accounts 18.2

REGISTERED NUMBER: 10494162 (England and Wales)

REPORT OF THE DIRECTOR AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH NOVEMBER 2018

FOR

HANOVER INSOLVENCY TD LTD

Page

Company Information

1

Report of the Director

2

Chartered Accountants' Report

3

Profit and Loss Account

4

Balance Sheet

5

Statement of Changes in Equity

6

Notes to the Financial Statements

7

DIRECTOR:

A P Deering

REGISTERED OFFICE:

Midwest House

Crown Industrial Estate

Canal Road

Timperley

Cheshire

WA14 1TF

REGISTERED NUMBER:

10494162 (England and Wales)

ACCOUNTANTS:

KAY JOHNSON GEE LIMITED

1 City Road East

Manchester

M15 4PN

The director presents his report with the financial statements of the company for the year ended 30th November 2018.

DIRECTOR

A P Deering held office during the whole of the period from 1st December 2017 to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small

companies.

ON BEHALF OF THE BOARD:

A P Deering - Director

29th August 2019

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Hanover Insolvency TD Ltd for the year ended 30th November 2018 which comprise the Profit

and Loss Account, Balance Sheet, Statement of Changes in Equity and the related notes from the company's

accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Hanover Insolvency TD Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Hanover Insolvency TD Ltd and state those matters that we have agreed to state to the director of Hanover Insolvency TD Ltd in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Hanover Insolvency TD Ltd and its director for our work or for this report.

It is your duty to ensure that Hanover Insolvency TD Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Hanover Insolvency TD Ltd. You consider that Hanover Insolvency TD Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Hanover Insolvency TD Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

KAY JOHNSON GEE LIMITED

1 City Road East

Manchester

M15 4PN

29th August 2019

TURNOVER

516,048

-

Cost of sales

497,316

-

GROSS PROFIT

18,732

-

Administrative expenses

143,195

-

OPERATING LOSS

(124,463

)

-

Interest payable and similar expenses

13,500

-

LOSS BEFORE TAXATION

(137,963

)

-

Tax on loss

-

-

LOSS FOR THE FINANCIAL YEAR

(137,963

)

-

FIXED ASSETS

Tangible assets

3

19,387

-

CURRENT ASSETS

Debtors

4

179,968

1

Cash at bank

25,672

-

205,640

1

CREDITORS

Amounts falling due within one year

5

362,989

-

NET CURRENT (LIABILITIES)/ASSETS

(157,349

)

1

TOTAL ASSETS LESS CURRENT LIABILITIES

(137,962

)

1

CAPITAL AND RESERVES

Called up share capital

7

1

1

Retained earnings

(137,963

)

-

SHAREHOLDERS' FUNDS

(137,962

)

1

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th November 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th November 2018 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.

The financial statements have been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved and authorised for issue by the director on 29th August 2019 and were signed by:

A P Deering - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Profit for the period

-

-

-

Issue of share capital

1

-

1

Balance at 30th November 2017

1

-

1

Deficit for the year

-

(137,963

)

(137,963

)

Total comprehensive income

-

(137,963

)

(137,963

)

Balance at 30th November 2018

1

(137,963

)

(137,962

)

1.	STATUTORY INFORMATION

Hanover Insolvency TD Ltd is a private company limited by share capital, incorporated in England and Wales,

registration number 10494162. The address of the principal place of business and the registered office is

Midwest House, 11 Crown Industrial Estate, Canal Road, Canal Road, Timperley, Altrincham, WA14 1TF.

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.

The financial statements have been prepared on the going concern basis which assumes the company and

consolidated entity will have sufficient cash to pay its debts, as and when they become payable, for a period of

at least 12 months from the date the financial report was authorised for issue.

Turnover

Turnover is measured as the fair value of the consideration received or receivable, excluding value added tax.

The following criteria must also be met before turnover is recognised:

- the amount of turnover can be measured reliably;

- it is probable that the company will receive the consideration due under the contract;

- the stage of completion of the contract at the end of the reporting period can be measured reliably; and

- the costs incurred and the costs to complete the contract can be measured reliably.

Tangible fixed assets

Depreciation on fixed assets is charged to the profit and loss so as to write off their value, over their estimated

useful lives, using the following methods:

Furniture and fixture - 25% on reducing balance

At each balance sheet date, the company reviews the carrying amounts of its fixed assets to determine whether

there is any indication that any items of tangible fixed assets have suffered an impairment loss. If any such

indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the

impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the company

estimates the recoverable amount of the cash-generating unit to which the asset belongs.

If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of

the asset is reduced to its recoverable amount. Impairment loss is recognised as an expense immediately.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the

effective interest method, less impairment losses for bad and doubtful debts except where the effect of

discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for

bad and doubtful debts.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the

effective interest method unless the effect of discounting would be immaterial, in which case they are stated at

cost.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank.

3.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

Additions

20,000

At 30th November 2018

20,000

DEPRECIATION

Charge for year

613

At 30th November 2018

613

NET BOOK VALUE

At 30th November 2018

19,387

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Amounts recoverable on contract

9,715

-

Other debtors

170,253

1

179,968

1

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

30,567

-

Other creditors

332,422

-

362,989

-

6.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

£

£

Mdn Consultancy Limited

150,000

-

A fixed charge and negative pledge was taken on 12th July 2018 in respect of Mdn Consultancy.

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

100

Ordinary

£0.01

1

1