Registered number
05564712
riskHive Software Solutions Ltd
Filleted Accounts
30 September 2024
riskHive Software Solutions Ltd
Registered number: 05564712
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 14,908 16,460
Investments 4 53,410 38,160
68,318 54,620
Current assets
Debtors 5 752,177 438,140
Cash at bank and in hand 28,144 124,235
780,321 562,375
Creditors: amounts falling due within one year 6 (291,835) (212,212)
Net current assets 488,486 350,163
Total assets less current liabilities 556,804 404,783
Creditors: amounts falling due after more than one year 7 (142,687) (53,654)
Provisions for liabilities (2,833) (3,127)
Net assets 411,284 348,002
Capital and reserves
Called up share capital 2 2
Profit and loss account 411,282 348,000
Shareholders' funds 411,284 348,002
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Sandu Hellings
Director
Approved by the board on 5 March 2025
riskHive Software Solutions Ltd
Notes to the Accounts
for the year ended 30 September 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
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.
Creditors
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 6 6
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 October 2023 19,205 9,417 28,622
Additions 4,461 - 4,461
Disposals - - -
At 30 September 2024 23,666 9,417 33,083
Depreciation
At 1 October 2023 8,890 3,272 12,162
Charge for the year 4,129 1,884 6,013
On disposals - - -
At 30 September 2024 13,019 5,156 18,175
Net book value
At 30 September 2024 10,647 4,261 14,908
At 30 September 2023 10,315 6,145 16,460
4 Investments
Other
investments Total
£ £
Cost
At 1 October 2023 38,160 38,160
Additions 15,250 15,250
At 30 September 2024 53,410 53,410
5 Debtors 2024 2023
£ £
Trade debtors 314,124 129,572
Other debtors 438,053 308,568
752,177 438,140
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 96,869 30,080
Trade creditors 68,083 10,777
Taxation and social security costs 126,883 153,602
Other creditors - 17,753
291,835 212,212
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 142,687 53,654
142,687 53,654
8 Other information
riskHive Software Solutions Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Dilkush
Farlers End
Nailsea
Bristol
BS48 4PG
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