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REGISTERED NUMBER: 14150174 (England and Wales)















Financial Statements for the Year Ended 31 December 2024

for

Hivebrite UK Ltd

Hivebrite UK Ltd (Registered number: 14150174)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Hivebrite UK Ltd

Company Information
for the Year Ended 31 December 2024







DIRECTORS: J Hamon
N C Rowe





REGISTERED OFFICE: 7 Savoy Court
London
United Kingdom
WC2R 0EX





REGISTERED NUMBER: 14150174 (England and Wales)





AUDITORS: TC Group
Kings House
9 - 10 Haymarket
London
England
SW1Y 4BP

Hivebrite UK Ltd (Registered number: 14150174)

Balance Sheet
31 December 2024

31.12.24 31.12.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 4,196 8,046

CURRENT ASSETS
Debtors 5 1,820,778 1,123,459
Cash at bank 47,127 59,799
1,867,905 1,183,258
CREDITORS
Amounts falling due within one year 6 2,186,236 1,477,838
NET CURRENT LIABILITIES (318,331 ) (294,580 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(314,135

)

(286,534

)

CAPITAL AND RESERVES
Called up share capital 7 10 10
Retained earnings (314,145 ) (286,544 )
SHAREHOLDERS' FUNDS (314,135 ) (286,534 )

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 May 2025 and were signed on its behalf by:





J Hamon - Director


Hivebrite UK Ltd (Registered number: 14150174)

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

1. STATUTORY INFORMATION

Hivebrite UK Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

All amounts are rounded to the nearest £.

Going concern
The company made a loss of (£27,601) [2023: (£230,389)] during the year ended 31 December 2024, bringing the retained earnings reserves in deficit by (£314,145) [2023: (£286,544)].

The company is however dependent upon the continued financial support of its parent company, which has undertaken to financially support the company for the foreseeable future. The parent also does not intend to recall repayment of any intercompany loan, should that prove to be detrimental to the going concern of Hivebrite UK Ltd.

The financial statements have therefore been prepared on a going concern basis.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
IT equipment - 33% on cost

Hivebrite UK Ltd (Registered number: 14150174)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements , when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors, loans from fellow group companies, cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, accruals and loans from fellow group companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Hivebrite UK Ltd (Registered number: 14150174)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Foreign currencies
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 of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 9 ) .

Hivebrite UK Ltd (Registered number: 14150174)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2024 10,864
Disposals (821 )
At 31 December 2024 10,043
DEPRECIATION
At 1 January 2024 2,818
Charge for year 3,508
Eliminated on disposal (479 )
At 31 December 2024 5,847
NET BOOK VALUE
At 31 December 2024 4,196
At 31 December 2023 8,046

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
VAT 2,196 1,273
Accrued income 1,815,871 1,120,010
Prepayments 2,711 2,176
1,820,778 1,123,459

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Bank loans and overdrafts - 130
Trade creditors 4,316 4,376
Amounts owed to group undertakings 1,826,636 1,045,130
Social security and other taxes 33,645 43,814
Pensions 15,837 7,368
Accruals expenses 305,802 377,020
2,186,236 1,477,838

Hivebrite UK Ltd (Registered number: 14150174)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.24 31.12.23
value: £    £   
10 Ordinary £1 10 10

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Philip Clark FCCA (Senior Statutory Auditor)
for and on behalf of TC Group

9. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

10. ULTIMATE CONTROLLING PARTY

The company's immediate and ultimate controlling parent company is KIT UNITED SAS, a company incorporated in France, whose registered address is 6 rue Auber, 75009 Paris, France.

The ultimate controlling party is Jean Hamon.