REGISTERED COMPANY NUMBER: 03782564 (England and Wales)
REGISTERED CHARITY NUMBER: 1132710
REPORT OF THE TRUSTEES AND
AUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
FOR
THE Hp￿ FOUNDATION LIMITED
A COMPANY LIMITED BY GUARANTEE
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THE HIVE FOUNDATION LIMITED
CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
Page
Report of the Trustees
Report of the Independent Auditors
7 to 10
Statement of Financial Activities
11
Statement of Financial Position
12
Notes to the Financial Statements
13 to 18
Detailed Statement of Financial Activities
19
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THE HIVE FOUNDATION LIMITED
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 30 JUNE 2024
The Trustees present their annual report together with the audited financial statements of The Hive Foundation Limited for
the year ended 30 June 2023. The Trustees confim that the Annual Report and finanaal slatements of the company comply
Ih Ihe current stalutory requirements, the requirements of the company's goveming documenl and Ihe provisions of the
Statement of Recommended practi￿ ISORPI. appIl￿ble to charities preparing their aco)unts in accordance with the
Financial Reporting Standard 102.
sin￿ the Company qualifies as small under sedion 383, the strategic report required of medium and large companies
under The Companies Act 20CE (strategic Report and Directols Report) Regulalions 2013 is not required.
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THE HIVE FOUNDATION LIMITED
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 30 JUNE 2024
OBJECTIVES AND ACTIVITIES
Objectives and aims
The charity's objeds set out in the Memorandum of Assoaation are:
The charity's objects Clhe objeds") are for the benefft of the public generally and. in particular. the inhabitants of London
Borough of Bamet, Harrow and its surrounding areas'.-
- lo promole community participation and healthy recreation by providing faalities for the playing of association football and
other sports capable of improving health (Yaalities in this dause means land, buildings, equipment and organising sporting
activrties),. and
to provide and assist in providing faalities for sport. recreation or other leisure time occupation of such persons who have
need for such facilities by reason of their youth, age, infimity or disablement, povety or soaal and economic circumstsnces
or for the public at large in the interests of social welfare and with the objects improving their conditions of life.,
and
- to advance the education of children and young Feople through such means as the trustees think fit in accordan￿ with the
law of charity: and
- for the general purposes of suth charitable tthies or for suth other exduSiVe￿ charitable purposes in each case as the
trustees may from time to time deade.
Our aims & objectives
The charity's main aims are to play a supportive role in the communty by operating proven initiatives and developing new
ones, induding underpinning the prinaples of"EVERY CHILD MAThERS":
- To work within our communty for the benefft of the o)mmunty.
To support govemment initiatives aime(l at youth using Bamet Football Club & London Bees as a vehicle to deliver and
reinforce important soual messages.
- To be flexible and adaptable, designing ￿Urse$ to suit sthool & cr)mmunty needs.
Increasing the amount of people, particularty children. parbcipating in sport.
Encourage people, especially children. to lead healthier lrfestyes.
- Use sport as a vehicle lo re-engage children in leaming.
Create and develop programmes to reduc£ youth offending through our social indusion programmes and mentoring
schemes.
- Operate an indusive approach to work.
- Establish The Hive Foundation and its facilities as a cnmmunty resour￿.
Deliver a range of training programmes to produ￿ qualtfies sports coaches. thus creating employment and voluntary
opportunities.
- To create and foster a o)mmunty identity.
- To create and support community volunteers, tK)th young people and adults.
Main objectives for the period and strategy for achieving these
The charity's main objectives, for both the period under review and fijture periods are:
- To work within our communty for the benefft of the communty - Continue to deltver SOL?al inclusion projects engaging hard
to reach groups, working closely with the poli￿ and the
Local authority.
To support govemment initiatives aimed at youth using Bamet Football Club & London Bees as a vehicle to deliver and
reinforce important soaal message - Deliver (and introduce more as needed) soaal educational workshops to support the
our social indusion delivery.
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THE HIVE FOUNDATION LIMITED
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 30 JUNE 2024
- To be flexible and adaptable, designing courses to suii school & communty needs- Work on more gids only projects.
- Develop projects aimed at different generations to increase the amount of people engaging with us.
Encourage people, espeaally children, lo lead heallhier lifestyles
projects working with partners to enhan￿ this.
Indude healthy living information into more of our
- Use sport as a vehicle lo re-engage children in leaming - Build on current NEEDS delivery to help engage young people.
Create and develop programmes to reduc£ youth offending through our social indusion programmes and mentoring
schemes- Build into our social inclusion work. offering mentoring and volunteering opportuntlies.
- Operate an indusive approach to work.
- Establish The Hive Foundation and its facilities as a communty resource.
Deliver a range of Iraining programmes to produce qualtfies sports coaches, Ihus creating employment and voluntary
opportunities- Currently being delivered in partnership but V￿rkIng towards our own training programmes.
To create and foster a communty identity - Build on social indusion and reinfor￿ communty identity through providing
positive activities and volunteering opportunrties.
- To create and support community volunteers. both young people and adults - To add to the work that we are doing and to
continue to after volunteering opportuntties an all of our proieds.
Public benefit Entity
In reporting on the objectives and achievements of Ihe chanty, the Trustees have given regard to the charity commission
guidan￿ on public benefft under the Charities Act 2011. The Hive Foundation Limited constttutes a public benefit entty as
defined by FRS 102.
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THE HIVE FOUNDATION LIMITED
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 30 JUNE 2024
OBJECTIVES AND ACTIVITIES
Achievement and perfonnance
The Foundation have a positive impact on the communty it serves. It has built strong partnerships with other charities,
volunteering and statutory ServI￿S suth as the local authority and poli￿. The Foundation has successfully mel all largels
on individual projects and continues to grow in stature and reputation throughout the Boroughs of Bamet, Harrow and Brent
and beyond.
Financial Review
During the period under review. the Foundation has made an overall defi¢it.
The main income streams during the year have been the Premier League funding, together with ongoing income from
coaching.
Reserves policy
The charity intends to build up reserves suffiaent to ￿Ver three months of expenditure. the current reserves levd is deemed
to be suffiuent.
Future plans
We at the Hive a￿ayS seek lo serve the communty as mud) as we can and create a construdive impact on Ihe swal
environment. We have begun to use "Bees in the Communtif which will help us to market ourselves and create an
awareness of our activities which will attrad more attendan￿S to all our events. This will enhan￿ the objectives of the
Foundation and enable the (x)mmunity to be aware of the faaltties we make available.
There is also increased emphasis on schools in the local area to deliver training programmes.
Fund Raising
The Foundation does not use professional fvndraisers ￿ invdve commercial participators. There have been no complaints
about fundraising adivty this year.
The fundraising department has signed up to the Fundraising Regulatorfs Code of Fundraising Practice and the fundraising
guidan￿ and working practices have been updated so that they are compliant.
All appeals for funds are undertaken in a manner to ensure that they are not unreasonabw intrusive or persistent. All
marketing material contains dear instrudions on how a person be removed from mailing lists.
STRUCTURE. GOVERNANCE AND MANAGEMENT
Origin of Trust
The Barnet FC Communtiy Trust was incorporated on 4 June 1999 as a company limited by guarantee, and was registered
as a charity with the charity commission on 9 September 2￿9. The trust was renamed The Hive Communty Foundation, on
13 March 2014 and The Hive Foundation Limtted, on 14 Juty 2016.
Goveming document
The company is limited by guarantee and has no share capttal. Each member has undertaken lo contribute to the assets of
the company in the event of the same being wound up whilst helshe is a member. or wtthin one year of ceasing to be a
member, for payment of debts and liabiltties of the company contracted before ceasing to be a member, and of the costs,
charges and expenses of winding up, and for the adjustment of the rights of the contributors amongst themselves, such
amount as may be required nol exceeding £10.
Organisational structure
The board of trustees, which meets six times a year. govems the charity.
The offi￿r {
) is appointed by Ihe Trustees lo manage the day to day operations of Ihe Charity. To facilitate effective
operations, the offi￿r has delegated authority. within the temis of delegation approved by the Trustees.
Twstee induction and training
Trustees are provided with a detaile(I document oudining their duts'es and responsibilrties along with the opportunity to
discuss Ihe practicalities of the role. In addthon, all Truslees have the opportunity to meet key members of Foundation staff
and encouraged to attend Trust events and programmes.
Ongoing training for Trustees will be provided as appropriate to faalttate the undertaking of the role.
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THE HIVE FOUNDATION LIMITED
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 30 JUNE 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT
Risk management
A full review of the charity's main areas of risks has been undertaken. This indudes all hea￿h and safety and child protection
policies and procedures. The Trustees have approved wrltten poli(aes and practi¢￿ statements covering these areas. In
addition, a review of all finanaal risks is undertaken on regular basis.
ststement of Compliance with the Goveman¢e Code
The Foundation complies with Ihe requirements of the G0Veman￿ Code appIl￿ble to Small Charities issued by the Charity
Commission in England & Wales.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
03782564 (England and Wales)
Registered Charity number
1132710
Registered office
1 Kings Avenue
London
N213NA
Trustees
The Trustees of the charity and the Diredors of the company for the purposes of company law, who served during the year
Mr Anthony Andrew laeanthous- Director and Trustee
Mr Graham Robin Slyper- Direclor and Trustee
Father Paul Reece- Director and Trustee
Ms Natasha A V Kleanthous- Director and Twstee
Company Secretary
P Georgiou
Senior Statutory Auditor
Alekos Christofi FCCA
Auditors
AGK Partnership Ltd
Chartered Accountants & Statutory Auditors
1 Kings Avenue
London
N213NA
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THE HIVE FOUNDATION LIMITED
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 30 JUNE 2024
TRUSTEES. RESPONSIBILITY STATEMENT
The Trustees (who are also directors of The Hive Foundakn'on for the purposes of company law) are responsible for preparing
the Trustees, Report and the financial statements in accx)rdance wtth appli¢2ble law and United Kingdom Accounting
Standards (United Kingdom Generalty A￿epted Accounting Practi￿).
Company law requires the Trustees to prepare finanaal stalements for each finanaal year. Under company law the Truslees
must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of
the Foundation and of the result for that period. In preparing these finanaal slatements, the Trustees are required to..
select suitable accounting policies and then apply them consistentty,.
obsetve the methods and prinaples in the Charibes SORP.,
make judgments and accounting estimates that are reasonable and prudent.,
state whether applicable UK Accounting Standards have been followed. subject to any material departures disdosed and
explained in the financial statemenls.,
prepare the financial statements on the going con￿rn basis unless it is inappropriate to presume that the will continue in
operation.
The Trustees are responsible for keeping adequate a0￿UntIng re￿rdS that are suffiaent to show and explain the
Foundation's transactions and disdose with reasonable accuracy at any time the finanaal position of the and enable them to
ensure that the finanaal slalemenls comply wtth Ihe Companies AIX 2006. They are also responsible for safeguarding the
assets of the Foundation and hen￿ for taking reasonable steps for the prevention and detection of fraud and other
irregularities.
DISCLOSURE OF INFORMATION TO AUDITORS
So far as the trustees are aware. Ihere is no relevant infomialion (as defined by Section 418 of the Companies Act 2006) of
which the charitable company's auditors are unaware. and each trustee has taken all the steps that they ought to have taken
as a trustee in order lo make them aware of any audit infomiation and to establish that the charitable company's auditors are
aware of that infomialion.
AUDITORS
The auditors, AGK Partnership Ltd, have signified their willingness to continue in Offi￿ as audttors.
This report has been prepared in aC￿rdance wtth the special provisions of Part 15 of the Companies Act 2006 relaling to
small companies.
Approved by order of the board of trustees on 21 Marth 2025 and signed on lis behalf by..
A A Kleanthous - Trustee
AA/AoAy
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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
THE HIVE FOUNDATION LIMITED
Opinion
We have audited the finanaal stalemenls of The Hive Foundalion Limrted (the 'charitable company.) for the year ended
30 June 2024 which comprise the Statemenl of Financial Aclrvilies. the Statemenl of Financial Position and noles to the
financial statements, induding a summary of significant accounting poliaes. The finanaal reporting framework that has been
applied in their preparation is appli(2ble law and Unrted Kingdom Accounting Stsndards (Unrted Kingdom Generally
Accepled Accounting Pra(x1￿).
In our opinion the finanual statements=
give a true and fair view of the state of the charitable company's affairs as at 30 June 2024 and of its incoming resources
and application of resources, induding its income and expendrture. for the year then ended,.
have been propedy prepa￿d in accordance with Uniled Kingdom Generalty A¢xepled Accounting Practi￿,. and
have been prepared in ar£ordan￿ with the requirements of the Companies Act 20C6.
Basis for opinion
We conducted our audii in accordance with Intemational Standards on Auditing {UK) (ISAS (UK)) and applicable law. Our
responsibilities under Ihose slandards are further described in the Audtlors, responsibiltties for the audit of the financial
statements section of our report. We are independent of the charitable company in accordan￿ with the ethical
requirements that are relevant to our audii of the finanaal statements in the UK. induding the FRC'S Ethical Standard, and
we have fulfilled our olher elhical ￿s[jonSIbl1[tieS in accordan¢* wilh these requirements. We believe thal Ihe audit eviden
we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concem
In auditing the financial slalements, we have conduded that the trustees. use of the going con￿rn basis of accounting in the
preparation of the finanaal stalements is appropriate.
Based on the work we have perfomed, we have not identified any material uncertainkn'es relating to events or condrtions that,
individually or colleclively, may cast significant doubt on the chartlable company's abilty to continue as a going concern for a
period of at least ￿e1ve months from when the finanaal statements are authorised for issue.
Our responsibilities and Ihe resF)onsibilities of Ihe Irustees wf(h respect to going concem are described in the relevanl
sections of this report.
Other infomation
The trustees are responsible for the olher infomiation. The other infomiats'on comprises the infomiation included in the
Annual Report, other than the finanaal statements and our Report of the Independent Auditors thereon.
Our opinion on the finanaal statements does not cover the other infomalion and, ex￿pt to Ihe extent othe￿ise explicitly
stated in our report, we do not express any fomi of assuran￿ condusion thereon.
In connection wtth our audit of the financial slatements. our responsibilty is to read the other infomialion and. in doing so,
consider whether the other information is rnaterial￿ inconsistent wth the financial statements or our knowledge obtained in
the audit or otherwise appears to be Material￿ misstated. If we identfy such material inconsistencies or apparent material
misstatemenls, we are required to detemine whether Ihis gives rise lo a malerial misslatement in the financial statements
themselves. If, based on the work we have perfomied. we condude that there is a material rnisstatement of this other
infomialion, we are required to report that fact. We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audtt=
the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is
consistent with the financial stalemenls., and
the Report of the Trustees has been prepared in aC£Ordan￿ wtlh applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the charitable ￿MpanY and its environment obtained in the course of the
audit, we have not idenb'fied material misstatements in the Report of the Trustees.
We have nothing to report in respect of the following matters where the Companies Act 20C6 requires us to report to you rf,
in our opinion..
adequate aco)unting records have not been kept or retums adequate for our audit have not been re￿iVed from branches
not visited by us., or
the financial ststements are not in agreement wrth the accounting records and retums; or
certain disclosures of trustees, remuneration spe¢ified by law are not made., or
we have not re￿iVed all the information and explanations we require for our audrt.. or
the trustees were nol entitled to take advantage of Ihe small ￿mpanIeS exemption from the requiremenl to prepare a
Strategic Report or in preparing the Report of the Trustees.
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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
THE HIVE FOUNDATION LIMITED
Responsibilities of trustees
As explained more fully in the Truslees. Responsibilities Statement. the truslees (who are also the directors of the charitable
company for the purposes of company law} are responsible for the preparats'on of the finanaal statements and for being
satisfied that they give a true and fair view, and for such intemal conlrol as the trustees detemiine is ne￿SSary to enable the
preparation of financial slatements that are free from malerial misstalemenl. whelher due to traud or error.
In preparing the financial ststements, the trustees are responsible for assessing the charitable company's abilrty to conlinue
as a going con￿rn, disclosing, as applicable. matters related to going con￿rn and using the going con￿rn basis of
accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic
altemative but to do so.
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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
THE HIVE FOUNDATION LIMITED
Our responsibilities for the audit of the financial statements
Our objectives are to oblain ￿asonable assurance about whether the finanual statements as a whole are free from malerial
misstatement, whether due to fraud or e￿Or, and to issue a Report of the Independent Auditors that includes our opinion.
Reasonable assurance is a high level of assuran￿, but is not a guarantee that an audrt conducted in accordan￿ with ISAS
(UK) will a￿ayS detect a malerial misstatement when tt exists. Misstalements can arise from fraud or error and are
considered material if, individually or in the aggregate. they could reasonably be expected to Influen￿ the economic
decisions of users taken on the basis of these finanaal ststements.
The extent to which our Pro￿dureS are capable of detecting I￿egular[ties. induding fraud is detailed below:
Our approach to identifying and assessing the risks of rnaterial misstatement in respect of irregularities, induding fraud and
non-complian￿ with laws and regulations, was as follows=
- the engagement partner ensured that the engagement team ￿llectIVelY had the appropriate competen￿, capabilities and
skills to identify or recognize non-compliance with applicable laws and regulations.
- we identrfied the laws and regulations applicable to the company through discussions with directors and other
management, and from our commerual knovledge and experien￿ of Ihe ewronic money institution sector.
we focused on speafic laws and regulations vthich we considered may have a direct material effed on the financial
statements or the operations of the company, induding the Companies Act 20￿, taxation legislation, data protection,
ant￿bribery and employment.
- we assessed the exient of Complian￿ with the laws and regulations identified above through making enquiries of
management and inspecting legal Corresponden￿.. and identified laws and regulations were comrnunicated within the audit
team regulady and the team remained alert to instances of nOr￿compliance throughout the audrt.
We assessed the su￿ptib11ty of the Cornpan￿S finanaal staternents to material misstatement, induding obtaining an
understanding of how fraud might occur, by:
- making enquiries of management as lo where they considered there was SU￿ptIbIlity to fraud. their knowledge of
actual, suspected and alleged fraud,. and
- considering the internal controls in pla￿ to mitigate risks of fraud and non-complian￿ with laws and regulations.
To address the risk of fraud through management bias and override of controls, we..
- perfomed analytical prO￿dureS lo identfy any unusual or unexpected relationships;
tested joumal entries to idenlify unusual transactions.,
assessed whether judgements and assumptions made in deternining the a￿UntIng estimates were indicative of
potential bias- and
investigated the rationale behind signtficant or unusual transadions.
In response to the risk of irregularities, induding fraud and now0mplian￿ with laws and regulations, we designed
prO￿dureS which included, but were not limited to..
- agreeing finanaal statement disdosures to undetying supporting documentation"
enquiring of managemenl as to actual and potential liligation and daims-, and
- reviewing correspondence with HMRC, relevant regulators and the ￿MpanY'S legal advisors.
There are inherenl limitalions in our audtt procedu￿$ desuibed above. The more removed that laws and regulations are
from financial transactions, the less likely it is that we would be￿me aware of non-cornplian￿. Auditing standards also limit
the audit procedures required to identify non-comFlIan￿ wrth laws and regulations to enquiry of the directors and other
management and Ihe inspection of regulatory and legal corresponden￿. rf any.
Material misstalemenls that arise due to fraud can be harder to detect than Ihose that arise from error as they may
involve deliberale COn￿alment or collusion.
A further description of our responsibilrties for the audrt of the finanaal statements is located on the Financial Reporting
CouncTI's website at Y￿W.frC.Org.uk/aUdrt0rsresponSlb1I[1les. This description forms part of our Report of the Independent
Auditors.
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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
THE HIVE FOUNDATION LIMITED
Use of our report
This report is made solely lo the charrlable compan￿$ members. as a bcKty. in accordan￿ Y￿th Chapter 3 of Part 16 of the
Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members
those matters we are required to slate lo them in an auditors. report and for no other purpose. To the fullest extent permitted
by law, we do not a(xepl or assume responsibilty lo anyone other than the charttable company and Ihe charitable
company's members as a body. for our audit work, for this report, or for the opinions we have fomied.
Alekos Christofi FCCA (Senior Statutory Audttor)
for and on behalf of AGK Partnership Ltd
Chartered Accountants & Statutory Auditors
1 Kings Avenue
London
N213NA
21 March 2025
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THE HIVE FOUNDATION LIMITED
STATEMENT OF FINANCIAL ACTMTIES
FOR THE YEAR ENDED 30 JUNE 2024
2024
Total
funds
2023
Total
funds
Unrestricted
fund
Restricted
funds
Notes
INCOME AND ENDOWMENTS FROM
Donations and other income
9.259
9,259
25,000
Charitable activities
Coaching and courses
Events
88,630
88,630
107,042
3,398
Other income
121
121
550
Total
98.010
98.010
135,990
EXPENDITURE ON
Raising funds
9.035
9,035
7,605
Charitable activities
Admin Expense
Coaching and courses
114.169
820
114,169
820
127,478
Total
124.024
124,024
135,083
NET INCOMEIIEXPENDITURE)
P6.014)
126,014)
907
RECONCILIATION OF FUNDS
Total funds brought fO￿ard
14,522
14,522
13,615
TOTAL FUNDS CARRIED FORWARD
(11.492)
111,492)
14,522
The notes fomi part of these finanaal statements
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THE HIVE FOUNDATION LIMITED
STATEMENT OF FINANCIAL POSITION
30 JUNE 2024
2024
Total
funds
2023
Total
funds
Unrestricted
fund
Restricted
funds
Notes
CURRENT ASSETS
Debtors
Cash at bank
18,318
5.990
18,318
5,990
34,658
20,360
24.308
24,308
55.018
CREDITORS
Amounts falling due wtthin one year
(35.8(Kl)
(35,800)
(40,4961
NET CURRENT ASSETSI(LIABILITIES)
(11.492)
(11.492)
14.522
TOTAL ASSETS LESS CURRENT LIABILITIES
(11.492)
111,492)
14,522
NET ASSETSIILIABILITIES)
(11,492)
111,492)
14,522
FUNDS
Unrestricted funds
(11,492)
14,522
TOTAL FUNDS
(11.492)
14,522
These financial statements have been prepared in accordan￿ with the provisions applicable to charitable companies
subject to the small companies regime.
The financial statements were approve(I by the Board of Trustees and authorised for issue on 21 March 2025 and were
signed on its behalf by..
A A Kleanthous - Trustee
+fri/A¢ff4y tl£aA/Aow
The notes fomi part of these finanaal statements
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THE HIVE FOUNDATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
GENERAL INFORMATION
The Hive Foundalion Limited is a company limtted by guarant￿ (company number 03782564) registered in
England. The Company is also a charity registered wth the charity commission (charity registration number
1132710)- The registered office is 1 Kings Avenue, London N21 3NA and its prinapal pla￿ of business is The Hive
London, Camrose Avenue. London. HA8 6AG.
The principal accounting policies applied in the preparatr'on of these finanryal statements are set out below..
ACCOUNTING POUCIES
Basis of preparing the financial staternents
The financial stalemenls have been prepared under the historical cost convention and in accordance with
Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their
accounts in accordance wrth the Finanaal Reporting Stsndard 102 and Charities SORP, and the Companies Act
2006.
The Hive Foundation Limrted meels the definrtion of a public benefit entty under FRS 102. Assets and liabilities are
initially recognised at historical o)st or transaclion value unless otherwise stated in the relevant accounting policy.
Cash flow statement
The Tnjstees have taken advantage of disdosure exemption in respect of requirements of Section 'Slatement of
Cash Flows. in preparing these accounts as pennitted by FRS 102 and the Charities SORP {FRS 102) Updale
Bulletin.
Going concem
The trustees have a reasonable expectation that the Charity has adequate resources to continue in operational
existence for the foreseeable future. The trustees regard the foreseeable future as no less than twelve months
following the publication of the Charity's annual financial staternents. The trustees have considered the Charity's
balan￿ sheet position and reserves as at the year end. the future plans for the Charity and the impact of the current
crisis, laking account of reasonably possible changes in the income of the Chartty and are satisfied thal Ihe Charity
has suffiaent reSoUr￿S to remain in operational existen￿. Accordingty, they have adopted going con￿￿ basis in
preparing these finanaal statemenls.
Furthermore, the Trustees consider Ihat. at the time of approving the finanaal stalemenls, Ihere are no malerial
un￿rtaIntieS about the Charity's abilty to continue as a going COn￿M.
Company status
The Company has charitsble ststus for tax purposes. Control of the Company is vested in the members collectively
and there is no one overall controlling party.
The member of the company The Hive F(K)tball Centre Holdings Limited has agreed to contribute £10 to the assets
of the Company in the evenl of tt being wound up.
Judgements in applying accounting policies and key sources of estimation
In preparing these financial statements. management is required to make estimates and assumptions which impact
the financial ststements. Management consider that there are no key judgements or key areas of estimation
un￿rtainty.
Income
All income is recognised On￿ the Company has entttlement to the income, rt is probable that the income will be
re￿1Ve￿ and the amount of income re￿1vable can be measured reliably. Income represents sales invoiced during
the year and sponsorship and grants received in the year.
Grant income is dassified depending on the temis of the donations and where the income relates to a period,
speafied by the donor or the sponsor, it is recognised over the length of that period.
Investment income is accounted for when receivable.
Tickets and other items donated for resale by the Charity are induded as income from charitable activities when they
are sold. Donated servi￿$ are recognised in Ihe financial statements where there is an identifiable cost to the
donor.
Govemment grants
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THE HIVE FOUNDATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024
ACCOUNTING POUCIES - continued
Income
Government grants are recognised al the fair value of the asset received or receivable when there is reasonable
assuran￿ thal Ihe grant condttions wll be met and the grants will be received.
A grant that speafies perfomiance conditions is recognised as income when the perfornian￿ condrtions are met.
Where a grant does nol speafy perfomiance conditions tt is recognised as income when the grant proceeds are
re￿iVed or receivable. A grant received before the recognition criteria are sats'sfied is recognised as a liability.
Government grants received by the Charity relate to the Coronavirus Job Retenlion (Furkiugh) Scheme.
Expenditure
Expenditure is recognised once there is a legal or constructwe obligation to transfer economic benefrt to a third
party, it is probable thal a transfer of economic beneffts will be required in settlement and the amount of the
obligation can be measured reliabty. Expenditure is classified by activty. The costs of each activity are made up of
the total of direct costs and shared costs, induding support costs invrAved in undertaking each activity. Direct costs
8ttributsble to a single activity are allo(2ted direcdy to that activty. Shared costs which contribute to more than one
activty and support costs which are not attributable to a single activity are apportioned be￿een those activities on a
basis consistent with the use of reSoUr￿s. Staff salaries are apportioned behveen cost categories based on an
eslimate of time spenl. Support costs comprise the management of the Company's assets, organisalional
administration and propety costs that have been apportioned on the basis of staff numbers.
The Company is not registered for VAT and ac￿rdInglY expendilure is shown gross of irrecoverable VAT. Cosls of
raising fund5 are costs incurred in attracting voluntary ino)me, and other income generation. for example, the costs
associated with running events.
Charitable activities and governan￿ costs are ￿StS incurred on the Companws educational operations, induding
support costs and costs relating to the governan￿ of the Company apportioned to charitsble activities.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost.
A review for impairment of a fixed asset is carried out rf events or changes in arcUmstan￿$ indicate that the carrying
value of any fixed assel may not be recoverable. Shorttalls belween the carying value of fixed assets and Iheir
recoverable amounts are recognised as impaimients. Impaiment losses are recognised in the Statement of
Financial Activities incorporats'ng Income and Expendrture Actount.
Tangible fixed assets are carried at cost. net of depreciation and any provision for impairment. Depreciation is
provided at rates calculaled to wrrte off the cost of fixed assets, less their estimated residual value, over their
expected useful lives on the followng bases:
Long-tem leasehdd propety
Events equipment
Computer equipment
1￿10 per annum slraighl line
33 /0 per annum straight line
- 25h per annum straight line
Debtors
Trade and other debtors are recognised at the setuement amount after any trade discount offered. Prepayments are
valued at the amount prepaid net of any trade discounts due.
Cash at bank and in hand
Cash at bank and in hand indudes cash and short temi highly liquid investments with a short maturity of three
months or less from the date of acquisttion or opening of the depostl or similar a￿Ount.
Financial Instruments
The Company only has finanaal assets and finanoal liabilities of a kind that qualify as basic financial instruments.
Basic financial instruments are initially recognised al transaction value and subsequently measured al their
settlemenl value with the ex￿ptIOn of bank loans which are subsequenuy measured at amortised cost using the
effective interest method.
Taxation
The charity is exempt from corporalion tax on its charitable acts'vrties.
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THE HIVE FOUNDATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024
ACCOUNTING POUCIES - continued
Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of
the general objectives of Ihe Company and which have nol been designated for other purposes.
Restricted funds are fvnds which are to be used in accordan￿ wrth speiific reslrictions imposed by donors or which
have been raised by Ihe Company for particular purposes. The costs of raising and administering such funds are
charged against the speafic fund. The aim and use of each restricted fund is set out in the notes to the financial
statements.
TRUSTEES. REMUNERATION AND BENEFITS
There were no trustees, remuneration or other benefits for the year ended 30 June 2024 nor for the year ended
30 June 2023.
Trustees. expenses
There were no trustees, expenses paid for the year ended 30 June 2024 nor for the year ended 30 June 2023.
STAFF COSTS
The average monthty number of employees during the year was as follows:
2024
2023
Administration staff
No employees received emoluments in eX￿sS of £60.OCM).
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTMTIES
Unrestricted
fund
Restricted
funds
Total
funds
INCOME AND ENDOWMENTS FROM
Donations and other income
25.OIXI
25.000
Charitsble activities
Coaching and courses
Events
107,042
3,398
107,042
3,398
Other income
550
550
Total
135.990
135,990
EXPENDITURE ON
Raising funds
7.605
7.605
Charitsble activities
Admin Expense
127,478
127,478
Total
135.083
135,083
NET INCOME
907
907
RECONCILIATION OF FUNDS
Total funds brought forward
13,615
13,615
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THE HIVE FOUNDATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTMTIES - continued
Unrestricted
fund
Restricted
funds
Totsl
funds
TOTAL FUNDS CARRIED FORWARD
14,522
14,522
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
Trade debtors
Olher debtors
Prepayments and accrued incnme
8,298
939
9,081
1,602
25,057
7,999
18,318
34,658
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
Trade creditors
Amounts owed to conneded companies
Other creditors
1,003
6,251
28,546
6,115
5,834
28,547
35,800
40,496
MOVEMENT IN FUNDS
Net
movemenl
in funds
At
30.6.24
At 1.7.23
Unrestricted funds
General hjnd
14.522
{26,014)
(11,492)
TOTAL FUNDS
14,522
{26,014)
(11,492)
Nel movemenl in funds, induded in the above are as follows..
Incoming
resources
ReSoUr￿S
expended
Movement
in funds
Unrestricted funds
General fund
98.010
(124.024)
(26.014)
TOTAL FUNDS
98,010
(124.024)
(26.014)
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Document Ref.. ZFFTS-NPSNY-A9TG7-2V2D6

THE HIVE FOUNDATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024
MOVEMENT IN FUNDS- continued
Comparatives for movement in funds
Nel
movement
in funds
At
30.6.23
At 1.7.22
Unrestricted funds
General fund
13.615
907
14,522
TOTAL FUNDS
13,615
907
14,522
Comparative net movement in funds. induded in the above are as folkms:
Incoming
resources
ReSoUr￿S
expended
Movement
in funds
Unrestricted funds
General fvnd
135,9
{135,083)
907
TOTAL FUNDS
135.9
(135,083)
907
A current year 12 monlhs and prior year 12 months combined position is as follNs:
Net
movement
in funds
At
30.6.24
At 1.7.22
Unrestricted funds
General fund
13,615
{25,107)
(11,492)
TOTAL FUNDS
13,615
{25,107)
(11,492)
A current year 12 months and prior year 12 rnonths combined net movement in fund5. induded in the above are as
follows=
Incoming
resources
ReSoU￿S
expended
Movement
in funds
Unrestricted funds
General fvnd
234.0
(259.107)
(25,107)
TOTAL FUNDS
234,000
{259,107)
(25,107)
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THE HIVE FOUNDATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024
RELATED PARTY DISCLOSURES
The charilable company has taken advantage of exemption. under the lemis of Financial Reporting Standard 102
The Financial Reporting Standard applicable in the UK and Republic of Ireland,. not to disdose related paty
transactions with wholly owned subsidiaries within the group.
Amounts owed to group undertakings are noTrinterest bearing and repayable on demand.
During the year. the Company undertook the following transactions with a number of companies under the control of
Mr A A Kleanthous.
Included within amounts owed by group undertakings is a balan￿ of £6.251 (2023: 5.834) due to connected
companies.
During the year. the Company was charged rent of £12.000 (2023: £12,IXIO) from The HNe London Estates Ltd.
Page 18
Document Ref.. ZFFTS-NPSNY-A9TG7-2V2D6