HIVED LTD

Company Registration Number:
13493813 (England and Wales)

Unaudited abridged accounts for the year ended 31 July 2024

Period of accounts

Start date: 01 August 2023

End date: 31 July 2024

HIVED LTD

Contents of the Financial Statements

for the Period Ended 31 July 2024

Balance sheet
Notes

HIVED LTD

Balance sheet

As at 31 July 2024


Notes

2024

2023


£

£
Fixed assets
Intangible assets: 3 7,372 6,484
Tangible assets: 4 1,637,470 998,503
Total fixed assets: 1,644,842 1,004,987
Current assets
Debtors:   2,063,431 1,123,760
Cash at bank and in hand: 2,021,035 2,358,522
Total current assets: 4,084,466 3,482,282
Creditors: amounts falling due within one year:   (2,469,265) (1,410,171)
Net current assets (liabilities): 1,615,201 2,072,111
Total assets less current liabilities: 3,260,043 3,077,098
Creditors: amounts falling due after more than one year:   (281,378) (152,826)
Total net assets (liabilities): 2,978,665 2,924,272
Capital and reserves
Called up share capital: 136 136
Share premium account: 21,461,345 12,497,797
Profit and loss account: (18,482,816) (9,573,661)
Shareholders funds: 2,978,665 2,924,272

The notes form part of these financial statements

HIVED LTD

Balance sheet statements

For the year ending 31 July 2024 the company was entitled to exemption 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 26 February 2025
and signed on behalf of the board by:

Name: Murvah Iqbal
Status: Director

The notes form part of these financial statements

HIVED LTD

Notes to the Financial Statements

for the Period Ended 31 July 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Rendering of services Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: - the amount of revenue can be measured reliably; - it is probable that the Company will receive the consideration due under the contract; - the stage of completion of the contract at the end of the reporting period can be measured reliably; and - the costs incurred and the costs to complete the contract can be measured reliably.

Tangible fixed assets and depreciation policy

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following basis: Long-term leasehold property - 10% Straight Line Plant and machinery - 25% Straight Line Motor vehicles - 20% Straight Line Fixtures and fittings - 25% Straight Line Computer equipment - 33% Straight Line The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Intangible fixed assets and amortisation policy

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Other accounting policies

Related party transactions: At the balance sheet date, Vanvas Limited owed the Company £7,861 (2023: £2,568), which was repayable on demand.

HIVED LTD

Notes to the Financial Statements

for the Period Ended 31 July 2024

2. Employees

2024 2023
Average number of employees during the period 262 321

HIVED LTD

Notes to the Financial Statements

for the Period Ended 31 July 2024

3. Intangible Assets

Total
Cost £
At 01 August 2023 6,702
Additions 1,584
At 31 July 2024 8,286
Amortisation
At 01 August 2023 218
Charge for year 696
At 31 July 2024 914
Net book value
At 31 July 2024 7,372
At 31 July 2023 6,484

HIVED LTD

Notes to the Financial Statements

for the Period Ended 31 July 2024

4. Tangible Assets

Total
Cost £
At 01 August 2023 1,258,390
Additions 968,250
Disposals (27,601)
At 31 July 2024 2,199,039
Depreciation
At 01 August 2023 259,887
Charge for year 312,318
On disposals (10,636)
At 31 July 2024 561,569
Net book value
At 31 July 2024 1,637,470
At 31 July 2023 998,503

HIVED LTD

Notes to the Financial Statements

for the Period Ended 31 July 2024

5. Related party transactions

Name of the related party:
Relationship:
Company With Shared Directorship
Description of the Transaction: The transaction was the Company's payment on a vehicle lease on behalf of the related party.
£
Balance at 01 August 2023 2,568
Balance at 31 July 2024 7,861