Hanover Operating Management LLP
Registered name: HANOVER OPERATING MANAGEMENT LLP
Part of Hanover Investors Limited groupHanover Operating Management LLP made £4m revenue and £296k profit in the year to 31 Dec 2023.
Hanover Operating Management LLP’s revenue fell 21% to £4m in the year to 31 Dec 2023, with £296k profit and 19 employees. The company is based in London; we hold 2 years of its filed accounts.
- Status
- Active
- Location
- London, London
- Age
- 5 yrs · since 2021
- Type
- Limited Liability Partnership
Partnership. Profit is shown before the partners' own pay, so margins aren't comparable with a limited company. It is excluded from our opportunity lists.
Part of a group. The filing indicates this company sits within a group structure, so its results may depend on intra-group trading and it may be hard to replicate independently.
Key figures
Badges are automated estimates derived from the filed figures — not statements of fact about the company.
Financial history
| Year to | 31 Dec 2022 | 31 Dec 2023 |
|---|---|---|
| Disclosure | Full P&L | Full P&L |
| Profit & loss | ||
| Revenue (turnover) | £5m | £4m |
| Operating profit | £1.3m | £1.2m |
| Profit after tax | £174k | £296k |
| Profit (best available) | £174k | £296k |
| Employees (average) | 18 | 19 |
| Ratios | ||
| Profit margin | 3.4% | 7.4% |
| Revenue per employee | £281k | £210k |
| Profit per employee | £9.7k | £15.6k |
| Growth (year on year) | ||
| Revenue growth | — | ▼21.1% |
| Profit growth | — | ▲70.5% |
| Headcount growth | — | ▲5.6% |
| Balance sheet — indirect signals, not revenue | ||
| Cash at bank | £59.8k | £80.4k |
| Net assets | −£60.5k | −£282k |
| Fixed assets | £27k | £17.5k |
| Current assets | £1.5m | £1m |
| Debtors | £1.1m | £451k |
| Deferred income | £804k | £964k |
| Source | FullAccounts · bulk data Oct 2024 | FullAccounts · bulk data Oct 2024 |
How the business works
- Profit margin
- 7.4%
- Profit ÷ revenue.
- Gross margin
- —
- Gross profit ÷ revenue. High for software and services.
- Revenue per employee
- £210k
- Revenue ÷ average employees.
- Profit per employee
- £15.6k
- Profit ÷ average employees.
- Cash conversion
- —
- Cash generated from operations ÷ operating profit. Needs a cash-flow statement.
- Fixed assets ÷ revenue
- 0.4%
- Capital intensity. Low = capital-light, cheaper to start.
- Deferred income ÷ revenue
- 24.2%
- Customers paying upfront (subscriptions, deposits). Approximate when combined with accruals.
- Debtors ÷ revenue
- 11.3%
- Money owed by customers. Low = customers pay quickly.
Balance-sheet signals
Year-on-year changes in filed balance-sheet items. They can hint at momentum (or investment) but are not revenue or profit and must not be read as such.
- Net assets
- —
- Now −£282k
- Cash at bank
- ▲34%
- Now £80.4k
- Headcount
- ▲6%
- Now 19
- Deferred income
- ▲20%
- Now £964k
- Fixed assets
- ▼35%
- Now £17.5k
Deferred income is reported together with accruals in this filing (“accruals and deferred income”), so it is an approximate signal only.
Group structure
Ownership chain
- Hanover Investors Limitedultimate parent75–100%
- Hanover Operating Holding Limited75–100%
- Hanover Operating Management LLPthis company
Bands show the share of ownership each company holds in the one below it.
Sister companies (1)
- Hanover Operating Services LLPFigures not disclosed
From the Persons with Significant Control register (corporate controllers only).
Sources
Latest figures from FullAccounts for the year to 31 Dec 2023 (profit £296k), from the Companies House accounts bulk data published Oct 2024. Spotted an error? Request a correction.
Contains public sector information from Companies House licensed under the Open Government Licence v3.0. Data from Companies House, © Crown copyright. View the licence.