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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MARCH 2019 |
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HIVE ESTATES LIMITED |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MARCH 2019 |
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FOR |
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HIVE ESTATES LIMITED |
HIVE ESTATES LIMITED (REGISTERED NUMBER: 08950110) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2019 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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HIVE ESTATES LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2019 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Fernwood House |
Fernwood Road |
Jesmond |
Newcastle upon Tyne |
NE2 1TJ |
HIVE ESTATES LIMITED (REGISTERED NUMBER: 08950110) |
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BALANCE SHEET |
31 MARCH 2019 |
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2019 | 2018 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
( |
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( |
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PROVISIONS FOR LIABILITIES | 8 |
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NET LIABILITIES | ( |
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CAPITAL AND RESERVES |
Called up share capital | 9 |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS | ( |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
its behalf by: |
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HIVE ESTATES LIMITED (REGISTERED NUMBER: 08950110) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2019 |
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1. | STATUTORY INFORMATION |
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Hive Estates Limited is a
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company's registered number and registered office address can be found on the Company Information |
page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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The financial statements are rounded to the nearest £1. |
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2. | STATEMENT OF COMPLIANCE |
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3. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The company is in a start up situation and is able to rely upon the support of its directors and |
shareholders to finance its working capital requirements. |
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The directors believe that the company is well placed to manage its business risks successfully despite |
the current uncertain economic outlook and, after having reviewed the company's forecasts and |
projections, the directors have a reasonable expectation that the company has adequate resources to |
continue in operational existence for the foreseeable future. Therefore, they have continued to adopt |
the going concern basis of accounting in preparing the annual financial statements. |
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The significant accounting policies applied in the preparation of these financial statements are set out |
below. These policies have been consistently applied to all years presented unless otherwise stated. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, |
rebates, value added tax and other sales taxes. |
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Tangible fixed assets |
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Improvements to leasehold | - |
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Fixtures and fittings | - |
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Computer equipment | - |
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Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation |
and accumulated impairment losses. Cost includes costs directly attributable to making the asset |
capable of operating as intended. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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HIVE ESTATES LIMITED (REGISTERED NUMBER: 08950110) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2019 |
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3. | ACCOUNTING POLICIES - continued |
Deferred taxation |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
the balance sheet date. |
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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. |
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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. |
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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. |
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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. |
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Debtors and creditors receivable/payable within one year |
Debtors and creditors with no stated interest rate and receivable or payable within one year are |
recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss |
account in other administrative expenses. |
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Impairment of assets |
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at |
each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's |
cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount |
exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is |
carried at a revalued amount where the impairment loss is a revaluation decrease. |
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Provisions |
Provisions are recognised when the company has an obligation at the balance sheet date as a result of |
a past event, it is probable that an outflow of economic benefits will be required in settlement and the |
amount can be reliably estimated. |
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4. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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HIVE ESTATES LIMITED (REGISTERED NUMBER: 08950110) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2019 |
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5. | TANGIBLE FIXED ASSETS |
Improvements | Fixtures |
to | and | Computer |
leasehold | fittings | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 April 2018 |
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Additions |
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At 31 March 2019 |
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DEPRECIATION |
At 1 April 2018 |
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Charge for year |
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At 31 March 2019 |
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NET BOOK VALUE |
At 31 March 2019 |
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At 31 March 2018 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade debtors |
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Other debtors |
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Directors' current accounts | 8,149 | - |
Called up share capital not paid |
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Prepayments and accrued income |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade creditors |
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Corporation tax |
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Social security and other taxes |
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Other creditors |
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Directors' current accounts | 101,651 | 112,752 |
Accrued expenses |
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8. | PROVISIONS FOR LIABILITIES |
2019 | 2018 |
£ | £ |
Deferred tax |
Accelerated capital allowances | 3,879 | 3,973 |
Tax losses carried forward | (2,759 | ) | (3,973 | ) |
1,120 | - |
HIVE ESTATES LIMITED (REGISTERED NUMBER: 08950110) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2019 |
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8. | PROVISIONS FOR LIABILITIES - continued |
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Deferred |
tax |
£ |
Provided during year |
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Tax losses | (2,759 | ) |
Balance at 31 March 2019 |
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9. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2019 | 2018 |
value: | £ | £ |
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Ordinary | £1 | 102 | 102 |
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10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to a director subsisted during the years ended 31 March 2019 and |
31 March 2018: |
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2019 | 2018 |
£ | £ |
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Balance outstanding at start of year |
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Amounts advanced |
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Amounts repaid |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
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No interest has been charged on the above loan. |
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11. | RELATED PARTY DISCLOSURES |
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Key management personnel of the entity (in the aggregate) |
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2019 | 2018 |
£ | £ |
Amount due to related party | 101,652 | 112,752 |