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HIVE MEDICAL LTD

Registered Number
13658767
(England and Wales)

Unaudited Financial Statements for the Year ended
31 October 2024

HIVE MEDICAL LTD
Company Information
for the year from 1 November 2023 to 31 October 2024

Directors

EWING, Iain Edward
TANG, Danielle Lai-Chuen, Dr

Registered Address

Censeo House, 6 St Peter's Street
Censeo House, 6 St Peter's Street
St. Albans
AL1 3LF

Registered Number

13658767 (England and Wales)
HIVE MEDICAL LTD
Statement of Financial Position
31 October 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3526969
526969
Current assets
Cash at bank and on hand97,96529,991
97,96529,991
Creditors amounts falling due within one year4(47,377)(4,677)
Net current assets (liabilities)50,58825,314
Total assets less current liabilities51,11426,283
Net assets51,11426,283
Capital and reserves
Called up share capital11
Profit and loss account51,11326,282
Shareholders' funds51,11426,283
The financial statements were approved and authorised for issue by the Board of Directors on 7 April 2025, and are signed on its behalf by:
EWING, Iain Edward
Director
Registered Company No. 13658767
HIVE MEDICAL LTD
Notes to the Financial Statements
for the year ended 31 October 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Going concern
The company continues to adopt the going concern basis in preparing its financial statements.
Revenue from sale of goods
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.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
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.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Office Equipment3
2.Average number of employees

20242023
Average number of employees during the year11
3.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
At 01 November 231,3301,330
At 31 October 241,3301,330
Depreciation and impairment
At 01 November 23361361
Charge for year443443
At 31 October 24804804
Net book value
At 31 October 24526526
At 31 October 23969969
4.Creditors: amounts due within one year

2024

2023

££
Taxation and social security6,2803,892
Other creditors40,660348
Accrued liabilities and deferred income437437
Total47,3774,677
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.