Hanover Resources Ltd - Abbreviated accounts 16.3
Hanover Resources Ltd - Abbreviated accounts 16.3
| REGISTERED NUMBER: |
| Abbreviated Unaudited Accounts |
| for the Year Ended 30 April 2016 |
| for |
| Hanover Resources Ltd |
| Hanover Resources Ltd (Registered number: 06135049) |
| Contents of the Abbreviated Accounts |
| for the Year Ended 30 April 2016 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 3 |
| Hanover Resources Ltd |
| Company Information |
| for the Year Ended 30 April 2016 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Hanover Resources Ltd (Registered number: 06135049) |
| Abbreviated Balance Sheet |
| 30 April 2016 |
| 30.4.16 | 30.4.15 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 2 |
| Tangible assets | 3 |
| Investments | 4 |
| CURRENT ASSETS |
| Debtors |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) |
| NET LIABILITIES | ( |
) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital | 5 |
| Share premium |
| Profit and loss account | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| The director acknowledges her 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 were approved by the director on |
| Hanover Resources Ltd (Registered number: 06135049) |
| Notes to the Abbreviated Accounts |
| for the Year Ended 30 April 2016 |
| 1. | ACCOUNTING POLICIES |
| Accounting convention |
| The financial statements have been prepared under the historical cost convention and in accordance with the |
| Financial Reporting Standard for Smaller Entities (effective January 2015). |
| Preparation of consolidated financial statements |
| The financial statements contain information about Hanover Resources Ltd as an individual company and do not |
| contain consolidated financial information as the parent of a group. The company has taken the option under |
| Section 398 of the Companies Act 2006 not to prepare consolidated financial statements. |
| Turnover |
| Turnover represents net invoiced sales of goods and services, excluding value added tax. Income is recognised |
| for the following income streams: |
| Property Searches - Recognised when the searches have been completed. |
| Franchise fee |
| The fee paid for the initial purchase of the franchise has been evenly amortised over the franchise period of 5 |
| years. |
| Tangible fixed assets |
| Fixtures and fittings | - |
| Software | - |
| Computer equipment | - |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
| balance sheet date. |
| Fixed asset investments |
| Fixed asset investments are included in the company's balance sheet at cost less amounts written off for |
| permanent diminution in value. |
| Going concern justification |
| The company meets its day to day working capital requirements partially through the support of its creditors and |
| director.The director has considered the projected cash flow information for the company during the foreseeable |
| post year-end period. On the basis of this cash flow information and discussions with the company’s creditors, |
| the director considers that the company will continue to operate within the available finance facilities. However |
| the margin of finance facilities over requirements is not large and, inherently there can be no certainty in relation |
| to this matter. On this basis, the director considers it appropriate to prepare the financial statements on the going |
| concern basis. The financial statements do not include any adjustments that would result from a withdrawal of |
| the support of the company's director and creditors. |
| 2. | INTANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 May 2015 |
| and 30 April 2016 |
| AMORTISATION |
| At 1 May 2015 |
| and 30 April 2016 |
| NET BOOK VALUE |
| At 30 April 2016 |
| At 30 April 2015 |
| Hanover Resources Ltd (Registered number: 06135049) |
| Notes to the Abbreviated Accounts - continued |
| for the Year Ended 30 April 2016 |
| 3. | TANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 May 2015 |
| and 30 April 2016 |
| DEPRECIATION |
| At 1 May 2015 |
| Charge for year |
| At 30 April 2016 |
| NET BOOK VALUE |
| At 30 April 2016 |
| At 30 April 2015 |
| 4. | FIXED ASSET INVESTMENTS |
| Investments |
| other |
| than |
| loans |
| £ |
| COST |
| At 1 May 2015 | 104,631 |
| At 30 April 2016 | 104,631 |
| PROVISIONS |
| At 1 May 2015 | 104,631 |
| At 30 April 2016 | 104,631 |
| NET BOOK VALUE |
| At 30 April 2016 |
| At 30 April 2015 |
| The company's investments at the Balance Sheet date in the share capital of companies include the following: |
| Subsidiaries |
| Nature of business: |
| % |
| Class of shares: | holding |
| Ordinary |
| £ | £ |
| Aggregate capital and reserves | 1 | 1 |
| Nature of business: |
| % |
| Class of shares: | holding |
| Ordinary |
| £ | £ |
| Aggregate capital and reserves | (301,151 | ) | (301,151 | ) |
| Hanover Resources Ltd (Registered number: 06135049) |
| Notes to the Abbreviated Accounts - continued |
| for the Year Ended 30 April 2016 |
| 4. | FIXED ASSET INVESTMENTS - continued |
| Associated company |
| Nature of business: |
| % |
| Class of shares: | holding |
| Ordinary | 43.00 |
| 30.4.16 | 30.4.15 |
| £ | £ |
| Aggregate capital and reserves | (602,569 | ) | (371,922 | ) |
| Loss for the year | (360,727 | ) | (235,592 | ) |
| 5. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 30.4.16 | 30.4.15 |
| value: | £ | £ |
| Ordinary | £1 |
| 6. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| At the balance sheet date, the following balance existed on a loan account with the directors: |
| B A & Mrs J Hibbert - £223,979 in credit (2015 - £225,688 in credit). |
| The above loan is interest free. It has been agreed with the director that the above loan will not be repaid until at |
| least 12 months after the balance sheet date. |