Caseware UK (AP4) 2022.0.179 2022.0.179 2023-02-282023-02-282022-03-01false2is that of creative services.2falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 08391308 2022-03-01 2023-02-28 08391308 2021-03-01 2022-02-28 08391308 2023-02-28 08391308 2022-02-28 08391308 c:Director1 2022-03-01 2023-02-28 08391308 c:Director2 2022-03-01 2023-02-28 08391308 d:OfficeEquipment 2022-03-01 2023-02-28 08391308 d:OfficeEquipment 2023-02-28 08391308 d:OfficeEquipment 2022-02-28 08391308 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 08391308 d:CurrentFinancialInstruments 2023-02-28 08391308 d:CurrentFinancialInstruments 2022-02-28 08391308 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 08391308 d:CurrentFinancialInstruments d:WithinOneYear 2022-02-28 08391308 d:ShareCapital 2023-02-28 08391308 d:ShareCapital 2022-02-28 08391308 d:RetainedEarningsAccumulatedLosses 2023-02-28 08391308 d:RetainedEarningsAccumulatedLosses 2022-02-28 08391308 c:OrdinaryShareClass1 2022-03-01 2023-02-28 08391308 c:OrdinaryShareClass1 2023-02-28 08391308 c:OrdinaryShareClass1 2022-02-28 08391308 c:FRS102 2022-03-01 2023-02-28 08391308 c:AuditExemptWithAccountantsReport 2022-03-01 2023-02-28 08391308 c:FullAccounts 2022-03-01 2023-02-28 08391308 c:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 08391308 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2022-03-01 2023-02-28 08391308 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-02-28 08391308 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2022-02-28 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 08391308










MINDHIVE LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 28 FEBRUARY 2023

 
MINDHIVE LTD
 

CONTENTS



Page
Accountants' Report
 
 
1
Balance Sheet
 
 
2 - 3
Notes to the Financial Statements
 
 
4 - 7


 
MINDHIVE LTD
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF MINDHIVE LTD
FOR THE YEAR ENDED 28 FEBRUARY 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Mindhive Ltd for the year ended 28 February 2023 which comprise the Balance Sheet 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 at https://www.icaew.com /regulation.

This report is made solely to the Board of Directors of Mindhive Ltd, as a body, in accordance with the terms of our engagement letter dated 29 July 2016Our work has been undertaken solely to prepare for your approval the financial statements of Mindhive Ltd  and state those matters that we have agreed to state to the Board of Directors of Mindhive Ltd, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Mindhive Ltd and its Board of Directors, as a body, for our work or for this report. 

It is your duty to ensure that Mindhive 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 profit of Mindhive Ltd. You consider that Mindhive Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Mindhive 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.

  



MA Partners LLP
 
7 The Close
Norwich
Norfolk
NR1 4DJ
9 October 2023
Page 1

 
MINDHIVE LTD
REGISTERED NUMBER: 08391308

BALANCE SHEET
AS AT 28 FEBRUARY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
6,816
7,402

  
6,816
7,402

Current assets
  

Debtors: amounts falling due within one year
 5 
21,977
18,333

Cash at bank and in hand
  
181,842
117,273

  
203,819
135,606

Creditors: amounts falling due within one year
 6 
(93,207)
(32,377)

Net current assets
  
 
 
110,612
 
 
103,229

Total assets less current liabilities
  
117,428
110,631

Provisions for liabilities
  

Deferred tax
  
(1,586)
(1,851)

  
 
 
(1,586)
 
 
(1,851)

Net assets
  
115,842
108,780


Capital and reserves
  

Called up share capital 
 7 
2
2

Profit and loss account
  
115,840
108,778

  
115,842
108,780


Page 2

 
MINDHIVE LTD
REGISTERED NUMBER: 08391308
    
BALANCE SHEET (CONTINUED)
AS AT 28 FEBRUARY 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 9 October 2023.




Brian Grindley
Sarah Germany
Director
Director

The notes on pages 4 to 7 form part of these financial statements.

Page 3

 
MINDHIVE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1.


General information

The Company is a private company incorporated in the United Kingdom and limited by shares. It is registered in England and Wales. The address of its registered office is 7 The Close, Norwich, Norfolk, NR1 4DJ. The business trades from New Buckenham, Norfolk.
The company's principle activity is that of creative services.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The principle accounting policies adopted in the preparation of the financial statements are set out below, remain unchanged from the previous year and have been consistently applied within the same accounts.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover comprises revenue recognised by the company in respect of services rendered in the form of creative services including bespoke e-learning courses. Turnover is measured as the fair value of the consideration received or receivable.

 
2.3

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 
Deferred tax balances are recognised in respect of timing differences that have originated but not reversed by the balance sheet date.
Current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
MINDHIVE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Office equipment
-
15%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Short term debtors and creditors

Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).

Page 5

 
MINDHIVE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

4.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 March 2022
11,070


Additions
708


Disposals
(149)



At 28 February 2023

11,629



Depreciation


At 1 March 2022
3,668


Charge for the year on owned assets
1,203


Disposals
(58)



At 28 February 2023

4,813



Net book value



At 28 February 2023
6,816



At 28 February 2022
7,402

Page 6

 
MINDHIVE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

5.


Debtors

2023
2022
£
£


Trade debtors
21,845
18,212

Prepayments and accrued income
132
121

21,977
18,333



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
173
158

Other taxation and social security
23,088
23,419

Other creditors
68,362
7,322

Accruals and deferred income
1,584
1,478

93,207
32,377



7.


Share capital

2023
2022
£
£
Authorised, allotted, called up and fully paid



2 (2022 - 2) Ordinary Shares of £1.00 each
2
2



8.


Related party transactions

As at 28 February 2023, the company owed £68,362 (2022 - £7,322) to the directors. This loan is
included in other creditors due within one year in note 6 to the financial statements and is interest free and repayable on demand. 

 
Page 7