for the Period Ended 31 December 2022
Directors report | |
Profit and loss | |
Balance sheet | |
Additional notes | |
Balance sheet notes |
Directors' report period ended
The directors present their report with the financial statements of the company for the period ended 31 December 2022
Principal activities of the company
Additional information
Results and dividendsThe loss for the year, after taxation, amounted to £144,507 (2021 - £259,006).The directors do not recommend payment of a dividend for the year (2021 - £Nil).Qualifying third party indemnity provisionsThe company has put in place qualifying third party indemnity provisions for all of the directors of the companyand these were in force at the date of approval of this report.Going concernThe directors are confident that the company has adequate resources to continue in operation for theforeseeable future and for at least one year from the date of signing these financial statements. Although thecompany has net liabilities of £1,081,852 (2021 - £937,345), this is a result of the business model of the groupin which the company is a part of with the company being dependent on returns made by subsidiaryundertaking, Medius Software Limited. The company has an intercompany loan agreement totalling £5,755,190(plus accumulated interest) with a maturity date of 18 November 2024 and the company has receivedconfirmation from fellow group undertakings that they will not enforce repayment of intercompany loans to theextent that it would result in the company being unable to service its liabilities as they fall due for repayment.The directors after making enquiries, are comfortable that the company will be able to meet its liabilities as theyfall due and have a reasonable expectation that the company has adequate resources to continue in operationalexistence for the foreseeable future. Accordingly, they continue to prepare the financial statements on a goingconcern basis.Matters covered in the Strategic ReportDisclosures required under S416(4) of the Companies Act 2006 are commented upon in the Strategic Report asthe directors consider them to be of strategic importance to the company.Disclosure of information to auditorEach of the persons who are directors at the time when this Directors' Report is approved has confirmed that:- so far as the director is aware, there is no relevant audit information of which the company's auditor isunaware; and- the director has taken all the steps that ought to have been taken as a director in order to be aware of anyrelevant audit information and to establish that the company's auditor is aware of that information.AuditorThe auditor, BDO LLP, will be proposed for reappointment in accordance with section 485 of the Companies Act2006.
Directors
The directors shown below have held office during the whole of the period from
1 January 2022 to 31 December 2022
The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006
This report was approved by the board of directors on
And signed on behalf of the board by:
Name:
Status: Director
for the Period Ended
2022 | 2021 | |
---|---|---|
| £ | £ |
Interest payable and similar charges: | ( | ( |
Profit(or loss) before tax: | ( | ( |
Tax: | | |
Profit(or loss) for the financial year: | ( | ( |
As at
Notes | 2022 | 2021 | |
---|---|---|---|
| £ | £ | |
Fixed assets | |||
Investments: | 3 | | |
Total fixed assets: | | | |
Current assets | |||
Debtors: | 4 | | |
Total current assets: | | | |
Creditors: amounts falling due within one year: | 5 | ( | ( |
Net current assets (liabilities): | | | |
Total assets less current liabilities: | | | |
Creditors: amounts falling due after more than one year: | 6 | ( | ( |
Total net assets (liabilities): | ( | ( | |
Capital and reserves | |||
Called up share capital: | | | |
Profit and loss account: | ( | ( | |
Total Shareholders' funds: | ( | ( |
The notes form part of these financial statements
This report was approved by the board of directors on
and signed on behalf of the board by:
Name:
Status: Director
The notes form part of these financial statements
for the Period Ended 31 December 2022
Basis of measurement and preparation
Intangible fixed assets amortisation policy
Valuation information and policy
Other accounting policies
for the Period Ended 31 December 2022
2022 | 2021 | |
---|---|---|
Average number of employees during the period | | |
for the Period Ended 31 December 2022
Fixed asset investments Investments in subsidiary companies (£)Cost and net book valueAt 1 January 2022 and at 31 December 2022 135,689Subsidiary undertakingsThe following were subsidiary undertakings of the company:Name Class of shares Holding Principal activityHive Bidco Limited Ordinary 100% Holding companyMedius Software Limited Ordinary 100%* Software providerThe registered office address of the above subsidiary undertakings is Grafton House, Grafton Street,Hyde, Cheshire, England, SK14 2AX.*The investment in Medius Software Limited is held through Hive Bidco Limited.
for the Period Ended 31 December 2022
2022 | 2021 | |
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£ | £ | |
Trade debtors | | |
Other debtors | | |
Total | | |
for the Period Ended 31 December 2022
2022 | 2021 | |
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£ | £ | |
Trade creditors | | |
Total | | |
for the Period Ended 31 December 2022
2022 | 2021 | |
---|---|---|
£ | £ | |
Other creditors | | |
Total | | |
for the Period Ended 31 December 2022