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Company No: 08501659 (England and Wales)

HIVE BEACH COMPANY LIMITED

Unaudited Financial Statements
For the financial year ended 30 April 2024
Pages for filing with the registrar

HIVE BEACH COMPANY LIMITED

Unaudited Financial Statements

For the financial year ended 30 April 2024

Contents

HIVE BEACH COMPANY LIMITED

BALANCE SHEET

As at 30 April 2024
HIVE BEACH COMPANY LIMITED

BALANCE SHEET (continued)

As at 30 April 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 15,000 0
Tangible assets 4 591,931 458,306
606,931 458,306
Current assets
Stocks 91,886 117,708
Debtors 5 984,438 1,118,528
Cash at bank and in hand 160,468 256,672
1,236,792 1,492,908
Creditors: amounts falling due within one year 6 ( 429,228) ( 492,059)
Net current assets 807,564 1,000,849
Total assets less current liabilities 1,414,495 1,459,155
Creditors: amounts falling due after more than one year 7 ( 261,793) ( 115,214)
Provision for liabilities ( 36,761) ( 20,046)
Net assets 1,115,941 1,323,895
Capital and reserves
Called-up share capital 100 100
Profit and loss account 1,115,841 1,323,795
Total shareholders' funds 1,115,941 1,323,895

For the financial year ending 30 April 2024 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 Hive Beach Company Limited (registered number: 08501659) were approved and authorised for issue by the Board of Directors on 19 August 2024. They were signed on its behalf by:

S J Attrill
Director
HIVE BEACH COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
HIVE BEACH COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
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

Hive Beach Company Limited (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 principal place of business is The Old Farm Dairy, Manor Farm, Barr Lane, Burton Bradstock, Dorset, DT6 4PX, England.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and 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 is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer. Revenue from services is recognised as they are delivered.

Employee benefits

Defined contribution schemes
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

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.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

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:

Goodwill 5 years straight line
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:

Land and buildings not depreciated
Vehicles 25 % reducing balance
Fixtures and fittings 25 % reducing balance
Other property, plant and equipment 10 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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 97 100

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 May 2023 500,000 500,000
Additions 15,000 15,000
At 30 April 2024 515,000 515,000
Accumulated amortisation
At 01 May 2023 500,000 500,000
At 30 April 2024 500,000 500,000
Net book value
At 30 April 2024 15,000 15,000
At 30 April 2023 0 0

4. Tangible assets

Land and buildings Vehicles Fixtures and fittings Other property, plant
and equipment
Total
£ £ £ £ £
Cost
At 01 May 2023 187,812 180,234 441,619 235,739 1,045,404
Additions 0 113,488 35,803 95,977 245,268
Disposals 0 ( 59,678) 0 0 ( 59,678)
At 30 April 2024 187,812 234,044 477,422 331,716 1,230,994
Accumulated depreciation
At 01 May 2023 0 139,599 374,582 72,917 587,098
Charge for the financial year 0 36,001 21,221 35,539 92,761
Disposals 0 ( 40,796) 0 0 ( 40,796)
At 30 April 2024 0 134,804 395,803 108,456 639,063
Net book value
At 30 April 2024 187,812 99,240 81,619 223,260 591,931
At 30 April 2023 187,812 40,635 67,037 162,822 458,306

5. Debtors

2024 2023
£ £
Trade debtors 3,389 650
Corporation tax 14,978 0
Other debtors 966,071 1,117,878
984,438 1,118,528

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 86,532 41,100
Trade creditors 105,558 145,120
Corporation tax 0 93,872
Other taxation and social security 97,771 95,108
Obligations under finance leases and hire purchase contracts 14,549 13,529
Other creditors 124,818 103,330
429,228 492,059

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

2024 2023
£ £
Bank loans 178,152 77,648
Obligations under finance leases and hire purchase contracts 83,641 37,566
261,793 115,214

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

8. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
Advances to directors 130,465 146,647

Interest of £2,860 has been charged at the HMRC official rate.