REGISTERED NUMBER: 10385657 (England and Wales)

Financial Statements

for the Year Ended 31 March 2025

for

Hive & Design Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Miss E C I Pitt

Mrs J M Manning

REGISTERED OFFICE:

Sundew House

Brickfields

Aldeburgh

Suffolk

IP15 5PH

REGISTERED NUMBER:

10385657 (England and Wales)

ACCOUNTANTS:

Mander Duffill

Chartered Accountants

The Old Post Office

41-43 Market Place

Chippenham

Wiltshire

SN15 3HR

FIXED ASSETS

Intangible assets

4

37,579

46,911

Tangible assets

5

935

2,809

38,514

49,720

CURRENT ASSETS

Stocks

17,000

15,312

Debtors

6

37,772

21,894

Cash at bank

1,094

2,434

55,866

39,640

CREDITORS

Amounts falling due within one year

7

885,540

714,122

NET CURRENT LIABILITIES

(829,674

)

(674,482

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(791,160

)

(624,762

)

CREDITORS

Amounts falling due after more than one year

8

93,910

104,307

NET LIABILITIES

(885,070

)

(729,069

)

CAPITAL AND RESERVES

Called up share capital

489

483

Share premium

9

2,823,810

2,748,817

Other reserves

9

177,500

177,500

Retained earnings

9

(3,886,869

)

(3,655,869

)

SHAREHOLDERS' FUNDS

(885,070

)

(729,069

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 29 December 2025 and were signed on its behalf by:

Miss E C I Pitt - Director

1.	STATUTORY INFORMATION

Hive & Design Limited 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.

Significant judgements

The preparation of financial statements in compliance with FRS102 requires management to exercise judgement in applying the company's accounting policies.

The following management judgements have had the most significant effect on the amounts recognised in these financial statements;

Share option charges

FRS102 requires the grant date fair value of share-based payment awards to employees to be recognised as an employee expense with a corresponding increase in equity, over the period in which the employees become unconditionally entitled to awards. Share options issued to the company's employees will only vest on an exit event. At the date of these financial statements, management has determined that an exit event is not probable and therefore no share-based payment charges have been recorded in the financial statements.

Turnover

Revenue is recognised to the extent that it is probable economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue from the sale of goods is recognised at the point of sale when the significant risks and rewards of ownership have passed to the buyer.

Intangible fixed assets and amortisation

All intangibles are considered to have a finite useful life. The estimated useful lives are as follows:

Software development - 10 years

At each reporting date the company assesses whether there is any indication of impairment. If such indications exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. Any impairment loss is recognised immediately as an expense within profit or loss.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment

-

25% on cost

Stocks

Stocks have been valued at the lower of cost and estimated selling price less costs to sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacture or completion.

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.

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.

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.

Going concern disclosure

The company's financial statements have been prepared on a going concern basis on the grounds that current and future resources of funding or support will be more than adequate for the company's needs. In assessing going concern, the directors have a reasonable expectation that the company will continue as a going concern and is able to meet all of its obligations as they fall due for a minimum of 12 months from the date of approval of these financial statements.

Hire purchase and leasing commitments

Leases in which the company assumes substantially all the risks and rewards of ownership of the leased asset are classed as finance leases. All other leases are classified as operating leases.

Payments excluding costs for services and insurance made under operating leases are recognised in the profit and loss account on a straight line basis over the term of the lease unless the payments to the lessor are structured to increase in line with expected general inflation; in which case the payments related to the structured increases are recognised as incurred. Lease incentives received are recognised in the profit and loss over the term of the lease as an integral part of the total lease expense.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2024 - 7 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 April 2024

and 31 March 2025

93,317

AMORTISATION

At 1 April 2024

46,406

Charge for year

9,332

At 31 March 2025

55,738

NET BOOK VALUE

At 31 March 2025

37,579

At 31 March 2024

46,911

5.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 April 2024

and 31 March 2025

21,423

DEPRECIATION

At 1 April 2024

18,614

Charge for year

1,874

At 31 March 2025

20,488

NET BOOK VALUE

At 31 March 2025

935

At 31 March 2024

2,809

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

37,722

21,674

Other debtors

50

220

37,772

21,894

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade creditors

10,783

3,318

Other creditors

874,757

710,804

885,540

714,122

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Other creditors

93,910

104,307

9.

RESERVES

Retained

Share

Other

earnings

premium

reserves

Totals

£

£

£

£

At 1 April 2024

(3,655,869

)

2,748,817

177,500

(729,552

)

Deficit for the year

(231,000

)

(231,000

)

Cash share issue

-

74,993

-

74,993

At 31 March 2025

(3,886,869

)

2,823,810

177,500

(885,559

)

10.	PENSION COMMITMENTS

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date unpaid contributions of £22,328 (2024: £32,743) were due to the fund. They are included in Other Creditors.