REGISTERED NUMBER: 12891206 (England and Wales)

HIVE HUBS 2 LIMITED

REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 27 FEBRUARY 2025

Page

Company Information

1

Report of the Directors

2

Abridged Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

S I J Smith

Mrs E K Smith

REGISTERED OFFICE:

The Management Suite

12-16 The Pantiles

Tunbridge Wells

Kent

TN2 5TN

REGISTERED NUMBER:

12891206 (England and Wales)

ACCOUNTANTS:

Hilden Park Accountants Limited

Hilden Park House

79 Tonbridge Road

Hildenborough

Tonbridge

Kent

TN11 9BH

The directors present their report with the financial statements of the company for the year ended 27 February 2025.

REVIEW OF BUSINESS

The activity of the company for the period was that of co-working space, comprising office, desk and meeting room hire. This is the same activity since inception.

The turnover of the business has reduced having been impacted by external factors at the business park where it trades. These factors were beyond the directors’ control. The management of Flimwell Park decided to introduce expensive car parking charges. The rates compare to those of a London suburb but the site is in a rural area. This discouraged hot-desking and impacted occupancy levels in our office and meeting suites; and also occupancy levels and visitor numbers of Flimwell Park.

The deteriorating quality of the buildings themselves also impacted occupancy. A few of our tenants vacated due to water ingress issues that the landlord failed to address. The decision has been made to relocate to a new site nearby where car parking is free and the quality of the buildings is better. The new facilities will be opening in autumn 2026.

DIRECTORS

The directors shown below have held office during the whole of the period from 28 February 2024 to the date of this report.

S I J Smith

Mrs E K Smith

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

Mrs E K Smith - Director

5 October 2026

FIXED ASSETS

Tangible assets

4

36,676

36,676

CURRENT ASSETS

Debtors

14,212

15,188

Cash at bank and in hand

4,657

1,514

18,869

16,702

CREDITORS

Amounts falling due within one year

66,890

64,389

NET CURRENT LIABILITIES

(48,021

)

(47,687

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(11,345

)

(11,011

)

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

(11,347

)

(11,013

)

(11,345

)

(11,011

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 27 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 27 February 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 27 February 2025 in accordance with Section 444(2A) of the Companies Act 2006.

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 October 2026 and were signed on its behalf by:

Mrs E K Smith - Director

1.	STATUTORY INFORMATION

Hive Hubs 2 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 and estimates

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

The parent company will continue to provide financial support to allow the company to meet its ongoing obligations.

It is for the above reason that the going concern basis has been adopted in preparing the financial statements and they do not include any adjustments that would arise if the Company was unable to continue to trade.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added tax, from the provision of co-working spaces during the period. Turnover is recognised according to the stage of completion of the contract to which it relates. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

Tangible fixed assets

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 28 February 2024

and 27 February 2025

36,676

NET BOOK VALUE

At 27 February 2025

36,676

At 27 February 2024

36,676

5.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

27/2/25

27/2/24

£

£

Within one year

-

11,000