6 false false false false false false false false false false true false false false false false false No description of principal activity 2023-10-01 Sage Accounts Production Advanced 2024 - FRS102_2024 xbrli:pure xbrli:shares iso4217:GBP 14368524 2023-10-01 2024-09-30 14368524 2024-09-30 14368524 2023-09-30 14368524 2022-09-21 2023-09-30 14368524 2023-09-30 14368524 2022-09-20 14368524 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-10-01 2024-09-30 14368524 core:PatentsTrademarksLicencesConcessionsSimilar 2023-10-01 2024-09-30 14368524 core:PlantMachinery 2023-10-01 2024-09-30 14368524 core:FurnitureFittings 2023-10-01 2024-09-30 14368524 bus:Director1 2023-10-01 2024-09-30 14368524 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-09-30 14368524 core:PatentsTrademarksLicencesConcessionsSimilar 2024-09-30 14368524 core:FurnitureFittings 2023-09-30 14368524 core:PlantMachinery 2024-09-30 14368524 core:FurnitureFittings 2024-09-30 14368524 core:WithinOneYear 2024-09-30 14368524 core:WithinOneYear 2023-09-30 14368524 core:ShareCapital 2024-09-30 14368524 core:ShareCapital 2023-09-30 14368524 core:SharePremium 2024-09-30 14368524 core:RetainedEarningsAccumulatedLosses 2024-09-30 14368524 core:RetainedEarningsAccumulatedLosses 2023-09-30 14368524 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-09-30 14368524 core:PatentsTrademarksLicencesConcessionsSimilar 2023-09-30 14368524 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-09-30 14368524 core:PatentsTrademarksLicencesConcessionsSimilar 2023-09-30 14368524 core:FurnitureFittings 2023-09-30 14368524 bus:SmallEntities 2023-10-01 2024-09-30 14368524 bus:AuditExempt-NoAccountantsReport 2023-10-01 2024-09-30 14368524 bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 14368524 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 14368524 bus:FullAccounts 2023-10-01 2024-09-30 14368524 core:OfficeEquipment 2023-10-01 2024-09-30 14368524 core:OfficeEquipment 2023-09-30 14368524 core:OfficeEquipment 2024-09-30
COMPANY REGISTRATION NUMBER: 14368524
Airhive Ltd
Filleted Unaudited Financial Statements
30 September 2024
Airhive Ltd
Financial Statements
Year ended 30 September 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Airhive Ltd
Statement of Financial Position
30 September 2024
2024
2023
Note
£
£
Fixed assets
Intangible assets
5
51,763
46,173
Tangible assets
6
409,205
6,274
---------
--------
460,968
52,447
Current assets
Stocks
474,986
Debtors
7
21,783
5,764
Cash at bank and in hand
524,975
21,226
------------
--------
1,021,744
26,990
Creditors: amounts falling due within one year
8
1,117,791
62,428
------------
--------
Net current liabilities
96,047
35,438
---------
--------
Total assets less current liabilities
364,921
17,009
---------
--------
Net assets
364,921
17,009
---------
--------
Capital and reserves
Called up share capital
366
253
Share premium account
1,466,240
Profit and loss account
( 1,101,685)
16,756
------------
--------
Shareholders funds
364,921
17,009
------------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 30 September 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Airhive Ltd
Statement of Financial Position (continued)
30 September 2024
These financial statements were approved by the board of directors and authorised for issue on 26 February 2025 , and are signed on behalf of the board by:
Mr R J Brown
Director
Company registration number: 14368524
Airhive Ltd
Notes to the Financial Statements
Year ended 30 September 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Camburgh House, 27 New Dover Road, Canterbury, Kent, CT1 3DN, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Operating leases
Lease income is recognised in profit or loss on a straight line basis over the lease term. The aggregate cost of lease incentives are recognised as a reduction to income over the lease term on a straight-line basis. Costs, including depreciation, incurred in earning the lease income are recognised as an expense. Any initial direct costs incurred in negotiating and arranging the operating lease are added to the carrying amount of the lease and recognised as an expense over the lease term on the same basis as the lease income.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Development costs
-
20% straight line
Patents, trademarks and licences
-
20% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Research and development
Research expenditure is written off in the period in which it is incurred. Development expenditure incurred is capitalised as an intangible asset only when all of the following criteria are met: - It is technically feasible to complete the intangible asset so that it will be available for use or sale; - There is the intention to complete the intangible asset and use or sell it; - There is the ability to use or sell the intangible asset; - The use or sale of the intangible asset will generate probable future economic benefits; - There are adequate technical, financial and other resources available to complete the development and to use or sell the intangible asset; and - The expenditure attributable to the intangible asset during its development can be measured reliably. Expenditure that does not meet the above criteria is expensed as incurred.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
25% reducing balance
Fixtures and fittings
-
20% straight line
Equipment
-
20% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 6 (2023: 2 ).
5. Intangible assets
Development costs
Patents, trademarks and licences
Total
£
£
£
Cost
At 1 October 2023
36,872
9,301
46,173
Additions
Additions from internal developments
16,308
16,308
--------
-------
--------
At 30 September 2024
53,180
9,301
62,481
--------
-------
--------
Amortisation
Charge for the year
8,858
1,860
10,718
--------
-------
--------
At 30 September 2024
8,858
1,860
10,718
--------
-------
--------
Carrying amount
At 30 September 2024
44,322
7,441
51,763
--------
-------
--------
At 30 September 2023
36,872
9,301
46,173
--------
-------
--------
6. Tangible assets
Plant and machinery
Fixtures and fittings
Equipment
Total
£
£
£
£
Cost
At 1 October 2023
5,954
320
6,274
Additions
455,436
224
5,681
461,341
---------
-------
-------
---------
At 30 September 2024
455,436
6,178
6,001
467,615
---------
-------
-------
---------
Depreciation
At 1 October 2023
Charge for the year
56,596
1,236
578
58,410
---------
-------
-------
---------
At 30 September 2024
56,596
1,236
578
58,410
---------
-------
-------
---------
Carrying amount
At 30 September 2024
398,840
4,942
5,423
409,205
---------
-------
-------
---------
At 30 September 2023
5,954
320
6,274
---------
-------
-------
---------
7. Debtors
2024
2023
£
£
Trade debtors
5,507
Other debtors
16,276
5,764
--------
-------
21,783
5,764
--------
-------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
65,999
Social security and other taxes
21,850
Wages payable and Pension liability
1,737
2,428
Loans
484,574
60,000
Other creditors
543,631
------------
--------
1,117,791
62,428
------------
--------