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Registered number: 12003121
Macro Hive Limited
Financial Statements
For The Year Ended 31 May 2024
Sestini & Co.
Paulton House
Old Mills
Paulton
Bristol
BS39 7SX
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 12003121
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 22,822 25,615
22,822 25,615
CURRENT ASSETS
Debtors 5 115,200 259,916
Cash at bank and in hand 504,981 199,860
620,181 459,776
Creditors: Amounts Falling Due Within One Year 6 (876,515 ) (534,108 )
NET CURRENT ASSETS (LIABILITIES) (256,334 ) (74,332 )
TOTAL ASSETS LESS CURRENT LIABILITIES (233,512 ) (48,717 )
Creditors: Amounts Falling Due After More Than One Year 7 (32,699 ) (38,282 )
NET LIABILITIES (266,211 ) (86,999 )
CAPITAL AND RESERVES
Called up share capital 8 146 141
Share premium account 350,438 -
Profit and Loss Account (616,795 ) (87,140 )
SHAREHOLDERS' FUNDS (266,211) (86,999)
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For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Muhammad Hafeez
Director
13/02/2025
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Macro Hive Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12003121 . The registered office is Paulton House, Old Mills, Paulton, Bristol, BS39 7SX.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The company has net liabilities. The accounts have been prepared on a going concern basis on the basis that the directors will continue to support the company.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% Straight Line
Fixtures & Fittings 25% Straight Line
2.5. Financial Instruments
The entity has only entered into basic financial instruments. Basic financial instruments are recognised at amortised cost, except for investments in nonconvertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss.
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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2.6. Foreign Currencies
Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.8. Estimates and judgements
There were no critical accounting estimates or judgements required in the preparation of these financial statements in the current or prior year.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 15 (2023: 15)
15 15
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Total
£ £ £
Cost
As at 1 June 2023 46,374 - 46,374
Additions 9,034 1,120 10,154
As at 31 May 2024 55,408 1,120 56,528
...CONTINUED
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Depreciation
As at 1 June 2023 20,759 - 20,759
Provided during the period 12,843 104 12,947
As at 31 May 2024 33,602 104 33,706
Net Book Value
As at 31 May 2024 21,806 1,016 22,822
As at 1 June 2023 25,615 - 25,615
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 72,117 48,910
Prepayments and accrued income 34,981 44,851
Other debtors 8,102 166,155
115,200 259,916
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 59,132 35,376
Bank loans and overdrafts 5,556 5,556
Other taxes and social security 264,203 54,265
Other creditors 216,730 157,011
Accruals and deferred income 330,894 281,900
876,515 534,108
Included in Bank loans and overdrafts is £5,556 that is secured by the government (2023: £5,556).
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 32,699 38,282
Included in Bank Loans is £32,699 that is secured by the government (2023: £38,282).
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8. Share Capital
2024 2023
Allotted, called up and fully paid £ £
10,525 Ordinary Shares of £ 0.01 each 105 100
4,100 Ordinary A shares of £ 0.01 each 41 41
146 141
Shares issued during the period: £
525 Ordinary Shares of £ 0.01 each 5
Prescribed particulars
Class of Shares: Ordinary
These shares are irredeemable and have full voting rights and full entitlement to profit and capital distribution.
Class of Shares: Ordinary A
The A Ordinary shares have full dividend rights, but no voting rights. The A Ordinary shares have the right to participate in a return of capital (including on a winding up). The A Ordinary shares are not redeemable. 
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