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Registration number: 07117925

Hive Intelligence Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

Pages for filing with Registrar

 

Hive Intelligence Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Hive Intelligence Limited

Company Information

Directors

R J Horton

J A Mclevy

J V J Mitchell

J Butters

Registered office

1st Floor
25 King Street
Bristol
BS1 4PB

Registered number

07117925

Accountant

Corrigan Accountants Limited 1st Floor
25 King Street
Bristol
BS1 4PB

 

Hive Intelligence Limited

(Registration number: 07117925)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

3,036

-

Current assets

 

Debtors

5

145,350

177,827

Cash at bank and in hand

 

534,439

327,305

 

679,789

505,132

Creditors: Amounts falling due within one year

6

(299,722)

(275,986)

Net current assets

 

380,067

229,146

Net assets

 

383,103

229,146

Capital and reserves

 

Called up share capital

253

253

Share premium reserve

280,357

280,357

Profit and loss account

102,493

(51,464)

Total equity

 

383,103

229,146

 

Hive Intelligence Limited

(Registration number: 07117925)
Balance Sheet as at 31 December 2024

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised for issue by the Board on 8 April 2025 and signed on its behalf by:
 

.........................................

R J Horton

Director

 

Hive Intelligence Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1

Statutory information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
1st Floor
25 King Street
Bristol
BS1 4PB

2

Accounting policies

Summary of significant accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention.

The financial statements are prepared in pounds sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Going concern

The company's financial statements have been prepared on a going concern basis based on current and forecast work and projections and consider this more than adequate to meet the company's needs. The directors have considered a period of twelve months from the date of approval of the financial statements and consider the company able to meet liabilities as they fall due.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts. Turnover in respect of contracts for ongoing services is recognised over the life of the contract.

The company recognises revenue when the amount of revenue can be reliably measured and it is probable that future economic benefits will flow to the entity.

 

Hive Intelligence Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

2

Accounting policies (continued)

Government grants

Government grants are recognised, using the accrual model, at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rates prevailing on the initial transaction dates.

Tax

The tax expense or credit for the period comprises the current tax expense or credit. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date.

Tangible fixed assets

Tangible fixed assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible fixed assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Computer equipment

25% on cost

Research and development costs

Expenditure on research and development is written off to profit or loss during the year in which it is incurred.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

 

Hive Intelligence Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

2

Accounting policies (continued)

Trade debtors

Trade debtors are recognised initially at the transaction price. They are subsequently measured less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are recognised initially at the transaction price and subsequently measured using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments.

Defined contribution pension obligation

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.

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense. The cost of any unused holiday entitlement is recognised in the period in which the employees' services are received.

 

Hive Intelligence Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 10 (2023 - 9).

4

Tangible fixed assets

Computer equipment
 £

Total
£

Cost

At 1 January 2024

3,504

3,504

Additions

3,554

3,554

At 31 December 2024

7,058

7,058

Depreciation

At 1 January 2024

3,504

3,504

Charge for the year

518

518

At 31 December 2024

4,022

4,022

Carrying amount

At 31 December 2024

3,036

3,036

At 31 December 2023

-

-

5

Debtors: amounts falling due within one year

2024
£

2023
£

Trade debtors

142,936

173,556

Prepayments

2,414

4,271

145,350

177,827

 

Hive Intelligence Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

6

Creditors

2024
£

2023
£

Amounts falling due within one year

Trade creditors

12,192

29,302

Taxation and social security

27,008

39,886

Other creditors

11,676

4,158

Accruals and deferred income

248,846

202,640

299,722

275,986

7

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £0.01 each

25,335

253.35

25,335

253.35