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Company No: 12744158 (England and Wales)

3HIVE LTD.

Unaudited Financial Statements
For the financial year ended 31 July 2023
Pages for filing with the registrar

3HIVE LTD.

Unaudited Financial Statements

For the financial year ended 31 July 2023

Contents

3HIVE LTD.

BALANCE SHEET

As at 31 July 2023
3HIVE LTD.

BALANCE SHEET (continued)

As at 31 July 2023
Note 2023 2022
£ £
Fixed assets
Intangible assets 3 1,762 2,350
Tangible assets 4 130,256 12,419
132,018 14,769
Current assets
Debtors 5 3,595 2,815
Cash at bank and in hand 236,931 236,612
240,526 239,427
Creditors: amounts falling due within one year 6 ( 102,351) ( 69,851)
Net current assets 138,175 169,576
Total assets less current liabilities 270,193 184,345
Creditors: amounts falling due after more than one year 7 ( 96,789) 0
Net assets 173,404 184,345
Capital and reserves
Called-up share capital 100 100
Profit and loss account 173,304 184,245
Total shareholder's funds 173,404 184,345

For the financial year ending 31 July 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of 3Hive Ltd. (registered number: 12744158) were approved and authorised for issue by the Board of Directors on 23 April 2024. They were signed on its behalf by:

J M Burgess
Director
3HIVE LTD.

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2023
3HIVE LTD.

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

3Hive Ltd. (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Towngate House, 2-8 Parkstone Road, Poole, BH15 2PW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of rebates and discounts. The company recognises revenue when the value of services provided to date can be reliably measured.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Other intangible assets 25 % reducing balance
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Plant and machinery 25 % reducing balance
Vehicles 25 % reducing balance
Office equipment 25 % reducing balance
Computer equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 17 12

3. Intangible assets

Other intangible assets Total
£ £
Cost/Valuation
At 01 August 2022 2,400 2,400
At 31 July 2023 2,400 2,400
Accumulated amortisation
At 01 August 2022 50 50
Charge for the financial year 588 588
At 31 July 2023 638 638
Net book value
At 31 July 2023 1,762 1,762
At 31 July 2022 2,350 2,350

4. Tangible assets

Plant and machinery Vehicles Office equipment Computer equipment Total
£ £ £ £ £
Cost/Valuation
At 01 August 2022 270 0 12,558 4,204 17,032
Additions 350 125,535 3,567 1,488 130,940
At 31 July 2023 620 125,535 16,125 5,692 147,972
Accumulated depreciation
At 01 August 2022 56 0 3,636 921 4,613
Charge for the financial year 68 8,669 2,632 1,734 13,103
At 31 July 2023 124 8,669 6,268 2,655 17,716
Net book value
At 31 July 2023 496 116,866 9,857 3,037 130,256
At 31 July 2022 214 0 8,922 3,283 12,419

5. Debtors

2023 2022
£ £
Other debtors 3,595 2,815

6. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 2,040 2,200
Amounts owed to Group undertakings 7 0
Taxation and social security 66,592 47,794
Obligations under finance leases and hire purchase contracts 14,667 0
Other creditors 19,045 19,857
102,351 69,851

7. Creditors: amounts falling due after more than one year

2023 2022
£ £
Obligations under finance leases and hire purchase contracts 96,789 0

There are no amounts included above in respect of which any security has been given by the small entity.