REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 25 AUGUST 2022 TO 31 DECEMBER 2023 |
FOR |
HYVE BY PRIME LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 25 AUGUST 2022 TO 31 DECEMBER 2023 |
FOR |
HYVE BY PRIME LIMITED |
HYVE BY PRIME LIMITED (REGISTERED NUMBER: 14318933) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Period 25 August 2022 to 31 December 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
HYVE BY PRIME LIMITED |
COMPANY INFORMATION |
for the Period 25 August 2022 to 31 December 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
HYVE BY PRIME LIMITED (REGISTERED NUMBER: 14318933) |
BALANCE SHEET |
31 December 2023 |
Notes | £ |
FIXED ASSETS |
Investments | 3 |
CURRENT ASSETS |
Debtors | 4 |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 5 |
Capital redemption reserve | 6 |
Capital contribution | 6 | ( |
) |
Retained earnings | 6 |
SHAREHOLDERS' FUNDS |
The directors acknowledge their 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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
HYVE BY PRIME LIMITED (REGISTERED NUMBER: 14318933) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Period 25 August 2022 to 31 December 2023 |
1. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Hyve By Prime Limited is a company limited by shares and is incorporated in England and Wales. The address of the registered office is 5 The Triangle, Wildwood Drive, Worcester, Worcestershire, WR5 2QX. The principal activity of the company is that of a holding company, with the company holding an investment in Hyve Operations Limited which commenced trading in the year. |
The company's financial statements have been prepared in compliance with FRS 102 "The Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland" Section 1A and the Companies Act 2006. |
The financial statements comprise the unaudited financial statements of the company up to 31 December each year, and are stated in pounds, the company's functional and presentational currency. |
The principal accounting policies applied in the preparation of these financial statements are set out below. |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Exemptions |
In accordance with the small companies regime, no cash flow statement is required to be presented as the company qualifies as a small entity as defined in the Companies Act 2006. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
HYVE BY PRIME LIMITED (REGISTERED NUMBER: 14318933) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Period 25 August 2022 to 31 December 2023 |
2. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was NIL. |
3. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
Additions |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
The company's investments at the Balance Sheet date in the share capital of companies include the following: |
Registered office: 5 The Triangle, Wildwood Drive, Worcester, England, WR5 2QX |
Nature of business: |
% |
Class of shares: | holding |
Registered office: 5 The Triangle, Wildwood Drive, Worcester, England, WR5 2QX |
Nature of business: |
% |
Class of shares: | holding |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Amounts owed by group undertakings |
Other debtors |
5. | CALLED UP SHARE CAPITAL |
Alloted and issued: | Class: | Nominal value: | £ |
Number: |
12 | Ordinary £1 shares | £1 | 12 |
15 ordinary shares of £1 were alloted at par during the period. The company purchased back 3 ordinary shares for £1 each on 7th November 2023, and these shares were subsequently cancelled. |
HYVE BY PRIME LIMITED (REGISTERED NUMBER: 14318933) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Period 25 August 2022 to 31 December 2023 |
6. | RESERVES |
Capital |
Retained | redemption | Capital |
earnings | reserve | contribution | Totals |
£ | £ | £ | £ |
Profit for the period |
Purchase of own shares | - | 3 | (3 | ) | - |
At 31 December 2023 | ( |
) | 100 |
7. | ULTIMATE CONTROLLING PARTY |
The company is owned by private shareholders, none of whom individually has a controlling interest in the issued share capital of the company. Accordingly, there is no ultimate controlling party. |