Hive 1 Ltd 09771561 false 2022-10-01 2023-10-31 2023-10-31 The principal activity of the company is construction of domestic buildings Digita Accounts Production Advanced 6.30.9574.0 true true 09771561 2022-10-01 2023-10-31 09771561 2023-10-31 09771561 bus:OrdinaryShareClass1 2023-10-31 09771561 core:CurrentFinancialInstruments 2023-10-31 09771561 core:CurrentFinancialInstruments core:WithinOneYear 2023-10-31 09771561 core:FurnitureFittingsToolsEquipment 2023-10-31 09771561 bus:SmallEntities 2022-10-01 2023-10-31 09771561 bus:AuditExemptWithAccountantsReport 2022-10-01 2023-10-31 09771561 bus:FilletedAccounts 2022-10-01 2023-10-31 09771561 bus:SmallCompaniesRegimeForAccounts 2022-10-01 2023-10-31 09771561 bus:RegisteredOffice 2022-10-01 2023-10-31 09771561 bus:Director1 2022-10-01 2023-10-31 09771561 bus:OrdinaryShareClass1 2022-10-01 2023-10-31 09771561 bus:PrivateLimitedCompanyLtd 2022-10-01 2023-10-31 09771561 core:FurnitureFittingsToolsEquipment 2022-10-01 2023-10-31 09771561 core:PlantMachinery 2022-10-01 2023-10-31 09771561 countries:EnglandWales 2022-10-01 2023-10-31 09771561 2022-09-30 09771561 core:FurnitureFittingsToolsEquipment 2022-09-30 09771561 2021-10-01 2022-09-30 09771561 2022-09-30 09771561 bus:OrdinaryShareClass1 2022-09-30 09771561 core:CurrentFinancialInstruments 2022-09-30 09771561 core:CurrentFinancialInstruments core:WithinOneYear 2022-09-30 09771561 core:FurnitureFittingsToolsEquipment 2022-09-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 09771561

Hive 1 Ltd

Unaudited Filleted Financial Statements

for the Period from 1 October 2022 to 31 October 2023

 

Hive 1 Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Hive 1 Ltd

Company Information

Director

Mr Robert Grantham McGregor

Registered office

42-46 Station Road
Edgware
Middlesex
HA8 7AB

Accountants

Harris Kafton Limited
Chartered Accountants
42-46 Station Road
Edgware
Middlesex
HA8 7AB

 

Hive 1 Ltd

(Registration number: 09771561)
Balance Sheet as at 31 October 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

128

255

Current assets

 

Stocks

6

1

1,766,039

Debtors

7

1,099,629

125,130

Investments

8

3,310,260

3,310,260

Cash at bank and in hand

 

2,286

991,610

 

4,412,176

6,193,039

Creditors: Amounts falling due within one year

9

(530,931)

(2,477,859)

Net current assets

 

3,881,245

3,715,180

Net assets

 

3,881,373

3,715,435

Capital and reserves

 

Called up share capital

10

2

2

Share premium reserve

447,352

447,352

Retained earnings

3,434,019

3,268,081

Shareholders' funds

 

3,881,373

3,715,435

For the financial period ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 31 July 2024
 

.........................................
Mr Robert Grantham McGregor
Director

 

Hive 1 Ltd

Notes to the Unaudited Financial Statements for the Period from 1 October 2022 to 31 October 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
42-46 Station Road
Edgware
Middlesex
HA8 7AB
England

These financial statements were authorised for issue by the director on 31 July 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Hive 1 Ltd

Notes to the Unaudited Financial Statements for the Period from 1 October 2022 to 31 October 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% Straight line basis

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Hive 1 Ltd

Notes to the Unaudited Financial Statements for the Period from 1 October 2022 to 31 October 2023

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1 (2022 - 1).

 

Hive 1 Ltd

Notes to the Unaudited Financial Statements for the Period from 1 October 2022 to 31 October 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 October 2022

2,272

2,272

At 31 October 2023

2,272

2,272

Depreciation

At 1 October 2022

2,017

2,017

Charge for the period

127

127

At 31 October 2023

2,144

2,144

Carrying amount

At 31 October 2023

128

128

At 30 September 2022

255

255

5

Investment properties

2023
£

There has been no valuation of investment property by an independent valuer.

6

Stocks

2023
£

2022
£

Other inventories

1

1,766,039

7

Debtors

Current

Note

2023
£

2022
£

Trade debtors

 

20,281

5,637

Amounts owed by related parties

970,000

-

Other debtors

 

109,207

119,352

Directors current account

 

141

141

   

1,099,629

125,130

 

Hive 1 Ltd

Notes to the Unaudited Financial Statements for the Period from 1 October 2022 to 31 October 2023

8

Current asset investments

2023
£

2022
£

Shares in group undertakings

3,310,260

3,310,260

9

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Trade creditors

 

21,249

120,966

Amounts owed to group undertakings and undertakings in which the company has a participating interest

39

39

Other creditors

 

(64,600)

1,790,365

Accrued expenses

 

2,850

10,476

Corporation tax payable

 

571,393

556,013

 

530,931

2,477,859

10

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary sahres of £1 each

2

2

2

2