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REGISTERED NUMBER: 10965030 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Hive Underwriters Limited

Hive Underwriters Limited (Registered number: 10965030)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Hive Underwriters Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: B A R Carman
J H Collins
C R M G Rowley
C P Marsland Roberts
W S D Gaunt
A J Webster





REGISTERED OFFICE: 69 Leadenhall Street
London
EC3A 2BG





REGISTERED NUMBER: 10965030 (England and Wales)





ACCOUNTANTS: Braywood Ltd
35 Station Approach
West Byfleet
Surrey
KT14 6NF

Hive Underwriters Limited (Registered number: 10965030)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 26,176 28,922
26,176 28,922

CURRENT ASSETS
Debtors 5 1,853,767 906,664
Cash at bank 1,905,442 991,088
3,759,209 1,897,752
CREDITORS
Amounts falling due within one year 6 1,729,339 742,910
NET CURRENT ASSETS 2,029,870 1,154,842
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,056,046

1,183,764

PROVISIONS FOR LIABILITIES 6,544 7,231
NET ASSETS 2,049,502 1,176,533

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 2,049,501 1,176,532
SHAREHOLDERS' FUNDS 2,049,502 1,176,533

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

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.

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

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 13 August 2024 and were signed on its behalf by:



B A R Carman - Director


Hive Underwriters Limited (Registered number: 10965030)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Hive Underwriters Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The directors expect that trading over the next twelve months will generate positive profits and cash flows and they have therefore continued to adopt the going concern basis for preparing these financial statements.

Turnover
Turnover represents commission arising on the sale of insurance contracts.

Commission is recognised when the company's contractual right to such income is established and to the extent that the company's relevant obligations under the contract have been performed.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost, 25% on cost and in accordance with the property

Taxation
Taxation for the year 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 year 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2023 - 8 ) .

Hive Underwriters Limited (Registered number: 10965030)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 66,408
Additions 13,824
At 31 March 2024 80,232
DEPRECIATION
At 1 April 2023 37,486
Charge for year 16,570
At 31 March 2024 54,056
NET BOOK VALUE
At 31 March 2024 26,176
At 31 March 2023 28,922

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 1,453,718 5,407
Amounts owed by group undertakings 105 -
Other debtors 399,944 901,257
1,853,767 906,664

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 136,795 20,684
Taxation and social security 1,504,352 647,709
Other creditors 88,192 74,517
1,729,339 742,910

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.3.24 31.3.23
£    £   
Within one year 37,704 94,865
Between one and five years - 23,717
37,704 118,582

8. RELATED PARTY DISCLOSURES

During the year, the company received advisory services totalling £18,763 (2023: £34,539) from D A Strategy Ltd and £15,000 (2023: £Nil) from D A Strategy Global GmbH, companies of which C R M G Rowley is a Director and shareholder.

Hive Underwriters Limited (Registered number: 10965030)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is B A R Carman.