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2025-06-30-accounts

REGISTERED COMPANY NUMBER: 03782564 (England and Wales) REGISTERED CHARITY NUMBER: 1132710

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025

FOR

THE HIVE FOUNDATION LIMITED (A COMPANY LIMITED BY GUARANTEE)

THE HIVE FOUNDATION LIMITED

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025

Page
Report of the Trustees 1 to 5
Independent Examiner's Report 6
Statement of Financial Activities 7
Statement of Financial Position 8
Notes to the Financial Statements 9 to 13
Detailed Statement of Financial Activities 14

THE HIVE FOUNDATION LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2025

The Trustees present their annual report together with the audited financial statements of The Hive Foundation Limited for the year ended 30 June 2025. The Trustees confirm that the Annual Report and financial statements of the company comply with the current statutory requirements, the requirements of the company's governing document and the provisions of the Statement of Recommended Practice (SORP), applicable to charities preparing their accounts in accordance with the Financial Reporting Standard 102.

Since the Company qualifies as small under section 383, the strategic report required of medium and large companies under The Companies Act 2006 (Strategic Report and Director's Report) Regulations 2013 is not required.

Page 1

THE HIVE FOUNDATION LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2025

OBJECTIVES AND ACTIVITIES

Objectives and aims

The charity's objects set out in the Memorandum of Association are:

The charity's objects ("the objects") are for the benefit of the public generally and, in particular, the inhabitants of London Borough of Barnet, Harrow and its surrounding areas:-

Our aims & objectives

The charity's main aims are to play a supportive role in the community by operating proven initiatives and developing new ones, including underpinning the principles of "EVERY CHILD MATTERS":

Main objectives for the period and strategy for achieving these

The charity's main objectives, for both the period under review and future periods are:

Page 2

THE HIVE FOUNDATION LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2025

Public benefit Entity

In reporting on the objectives and achievements of the charity, the Trustees have given regard to the charity commission guidance on public benefit under the Charities Act 2011. The Hive Foundation Limited constitutes a public benefit entity as defined by FRS 102.

Page 3

THE HIVE FOUNDATION LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2025

OBJECTIVES AND ACTIVITIES

Achievement and performance

The Foundation have a positive impact on the community it serves. It has built strong partnerships with other charities, volunteering and statutory services such as the local authority and police. The Foundation has successfully met all targets on individual projects and continues to grow in stature and reputation throughout the Boroughs of Barnet, Harrow and Brent and beyond.

Financial Review

During the period under review, the Foundation has made an overall deficit.

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 sufficient to cover three months of expenditure, the current reserves level is deemed to be sufficient.

Future plans

We at the Hive always seek to serve the community as much as we can and create a constructive impact on the social environment. We have begun to use "Bees in the Community" which will help us to market ourselves and create an awareness of our activities which will attract more attendances to all our events. This will enhance the objectives of the Foundation and enable the community to be aware of the facilities 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 fundraisers or involve commercial participators. There have been no complaints about fundraising activity this year.

The fundraising department has signed up to the Fundraising Regulator's Code of Fundraising Practice and the fundraising guidance 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 unreasonably intrusive or persistent. All marketing material contains clear instructions on how a person can be removed from mailing lists.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Origin of Trust

The Barnet FC Community 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 2009. The trust was renamed The Hive Community Foundation' on 13 March 2014 and The Hive Foundation Limited' on 14 July 2016.

Governing document

The company is limited by guarantee and has no share capital. Each member has undertaken to contribute to the assets of the company in the event of the same being wound up whilst he/she is a member, or within one year of ceasing to be a member, for payment of debts and liabilities 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 not exceeding £10.

Organisational structure

The board of trustees, which meets six times a year, governs the charity.

The officer ( ) is appointed by the Trustees to manage the day to day operations of the Charity. To facilitate effective operations, the officer has delegated authority, within the terms of delegation approved by the Trustees.

Trustee induction and training

Trustees are provided with a detailed document outlining their duties and responsibilities along with the opportunity to discuss the practicalities of the role. In addition, all Trustees 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 facilitate the undertaking of the role.

Page 4

THE HIVE FOUNDATION LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2025

STRUCTURE, GOVERNANCE AND MANAGEMENT Risk management

A full review of the charity's main areas of risks has been undertaken. This includes all health and safety and child protection policies and procedures. The Trustees have approved written policies and practice statements covering these areas. In addition, a review of all financial risks is undertaken on regular basis.

Statement of Compliance with the Governance Code

The Foundation complies with the requirements of the Governance Code applicable 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 N21 3NA

Trustees

The Trustees of the charity and the Directors of the company for the purposes of company law, who served during the year were:

Mr Anthony Andrew Kleanthous - Director and Trustee Mr Graham Robin Slyper - Director and Trustee (deceased 4.2.26) Father Paul Reece - Director and Trustee

Ms Natasha A V Kleanthous - Director and Trustee David Anthony O'Farrell - Trustee (appointed 11.7.25)

Company Secretary

P Georgiou

Independent Examiner

AGK Partners Chartered Accountants 1 Kings Avenue Winchmore Hill London N21 3NA

EVENTS SINCE THE END OF THE YEAR

Information relating to events since the end of the year is given in the notes to the financial statements.

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

Approved by order of the board of trustees on 31 March 2026 and signed on its behalf by:

A A Kleanthous - Trustee

Page 5

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE HIVE FOUNDATION LIMITED

Independent examiner's report to the trustees of The Hive Foundation Limited ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 June 2025.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or

  2. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

  3. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Michael Michaelides

AGK Partners Chartered Accountants 1 Kings Avenue Winchmore Hill London N21 3NA

31 March 2026

Page 6

THE HIVE FOUNDATION LIMITED

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 JUNE 2025

Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and other income
263
Charitable activities
Coaching and courses
107,217
Other income
2,317
Total
109,797
EXPENDITURE ON
Raising funds
12,530
Charitable activities
Admin Expense
72,213
Coaching and courses
58,412
Total
143,155
NET INCOME/(EXPENDITURE)
(33,358)
RECONCILIATION OF FUNDS
Total funds brought forward
(11,492)
TOTAL FUNDS CARRIED FORWARD
(44,850)
Restricted
funds
£
-
-
-
-
-
-
-
-
-
-
-
2025
Total
funds
£
263
107,217
2,317
109,797
12,530
72,213
58,412
143,155
(33,358)
(11,492)
(44,850)
2024
Total
funds
£
9,259
88,630
121
98,010
9,035
114,169
820
124,024
(26,014)
14,522
(11,492)

The notes form part of these financial statements

Page 7

THE HIVE FOUNDATION LIMITED

STATEMENT OF FINANCIAL POSITION 30 JUNE 2025

Unrestricted
Restricted
fund
funds
Notes
£
£
CURRENT ASSETS
Debtors
6
5,080
-
Cash at bank
4,296
-
9,376
-
CREDITORS
Amounts falling due within one year
7
(54,226)
-
NET CURRENT ASSETS/(LIABILITIES)
(44,850)
-
TOTAL ASSETS LESS CURRENT LIABILITIES
(44,850)
-
NET ASSETS/(LIABILITIES)
(44,850)
-
FUNDS
8
Unrestricted funds
TOTAL FUNDS
2025
Total
funds
£
5,080
4,296
9,376
(54,226)
(44,850)
(44,850)
(44,850)
(44,850)
(44,850)
2024
Total
funds
£
18,318
5,990
24,308
(35,800)
(11,492)
(11,492)
(11,492)
(11,492)
(11,492)

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2025 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 31 March 2026 and were signed on its behalf by:

A A Kleanthous - Trustee

The notes form part of these financial statements

Page 8

THE HIVE FOUNDATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025

1. GENERAL INFORMATION

The Hive Foundation Limited is a company limited by guarantee (company number 03782564) registered in England. The Company is also a charity registered with the charity commission (charity registration number 1132710). The registered office is 1 Kings Avenue, London N21 3NA and its principal place of business is The Hive London, Camrose Avenue, London, HA8 6AG.

The principal accounting policies applied in the preparation of these financial statements are set out below:

2. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements 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 with the Financial Reporting Standard 102 and Charities SORP, and the Companies Act 2006.

The Hive Foundation Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

Cash flow statement

The Trustees have taken advantage of disclosure exemption in respect of requirements of Section 'Statement of Cash Flows' in preparing these accounts as permitted by FRS 102 and the Charities SORP (FRS 102) Update Bulletin.

Going concern

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 statements. The trustees have considered the Charity’s balance sheet position and reserves as at the year end, the future plans for the Charity and the impact of the current crisis, taking account of reasonably possible changes in the income of the Charity and are satisfied that the Charity has sufficient resources to remain in operational existence. Accordingly, they have adopted going concern basis in preparing these financial statements.

Furthermore, the Trustees consider that, at the time of approving the financial statements, there are no material uncertainties about the Charity's ability to continue as a going concern.

Company status

The Company has charitable status 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 Football Centre Holdings Limited has agreed to contribute £10 to the assets of the Company in the event of it 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 statements. Management consider that there are no key judgements or key areas of estimation uncertainty.

Income

All income is recognised once the Company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Income represents sales invoiced during the year and sponsorship and grants received in the year.

Grant income is classified depending on the terms of the donations and where the income relates to a period, specified 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 included as income from charitable activities when they are sold. Donated services are recognised in the financial statements where there is an identifiable cost to the donor.

Government grants

Page 9

continued...

THE HIVE FOUNDATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2025

2. ACCOUNTING POLICIES - continued

Income

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised as income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised as income when the grant proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

Government grants received by the Charity relate to the Coronavirus Job Retention (Furlough) Scheme.

Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Staff salaries are apportioned between cost categories based on an estimate of time spent. Support costs comprise the management of the Company's assets, organisational administration and property costs that have been apportioned on the basis of staff numbers.

The Company is not registered for VAT and accordingly expenditure is shown gross of irrecoverable VAT. Costs of raising funds are costs incurred in attracting voluntary income, and other income generation, for example, the costs associated with running events.

Charitable activities and governance costs are costs incurred on the Company's educational operations, including support costs and costs relating to the governance of the Company apportioned to charitable activities.

Taxation

The charity is exempt from corporation tax on its charitable activities.

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 the Company and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

3. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 30 June 2025 nor for the year ended 30 June 2024.

Trustees' expenses

There were no trustees' expenses paid for the year ended 30 June 2025 nor for the year ended 30 June 2024.

Page 10

continued...

THE HIVE FOUNDATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2025

4. STAFF COSTS

The average monthly number of employees during the year was as follows:

Administration staff
No employees received emoluments in excess of £60,000.
5.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fund
£
INCOME AND ENDOWMENTS FROM
Donations and other income
9,259
Charitable activities
Coaching and courses
88,630
Other income
121
Total
98,010
EXPENDITURE ON
Raising funds
9,035
Charitable activities
Admin Expense
114,169
Coaching and courses
820
Total
124,024
NET INCOME/(EXPENDITURE)
(26,014)
RECONCILIATION OF FUNDS
Total funds brought forward
14,522
TOTAL FUNDS CARRIED FORWARD
(11,492)
6.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
Other debtors
Prepayments and accrued income
2025
4
Restricted
funds
£
-
-
-
-
-
-
-
-
-
-
-
2025
£
2,501
1,159
1,420
5,080
2024
4
Total
funds
£
9,259
88,630
121
98,010
9,035
114,169
820
124,024
(26,014)
14,522
(11,492)
2024
£
8,298
939
9,081
18,318

Page 11

continued...

THE HIVE FOUNDATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2025

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade creditors
Amounts owed to connected companies
Other creditors
8.
MOVEMENT IN FUNDS
At 1.7.24
£
Unrestricted funds
General fund
(11,492)
TOTAL FUNDS
(11,492)
Net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
109,797
TOTAL FUNDS
109,797
Comparatives for movement in funds
At 1.7.23
£
Unrestricted funds
General fund
14,522
TOTAL FUNDS
14,522
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
98,010
TOTAL FUNDS
98,010
2025
2024
£
£
1,673
1,003
24,007
6,251
28,546
28,546
54,226
35,800
Net
movement
At
in funds
30.6.25
£
£
(33,358)
(44,850)
(33,358)
(44,850)
Resources
Movement
expended
in funds
£
£
(143,155)
(33,358)
(143,155)
(33,358)
Net
movement
At
in funds
30.6.24
£
£
(26,014)
(11,492)
(26,014)
(11,492)
Resources
Movement
expended
in funds
£
£
(124,024)
(26,014)
(124,024)
(26,014)

Page 12

continued...

THE HIVE FOUNDATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2025

8.

MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined position is as follows:

Net
movement At
At 1.7.23 in funds 30.6.25
£ £ £
Unrestricted funds
General fund 14,522 (59,372) (44,850)
TOTAL FUNDS 14,522 (59,372) (44,850)

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
General fund 207,807 (267,179) (59,372)
TOTAL FUNDS 207,807 (267,179) (59,372)

9. RELATED PARTY DISCLOSURES

The charitable company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Amounts owed to and from group and related undertakings are non-interest 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 in creditors, falling due within one years, is an amount of £24,007 (2024: 6,251) due to the connected companies.

During the year, the company was charged rent of £12,000 (2024: £12,000) from The Hive London Estates Ltd.

10. POST BALANCE SHEET EVENTS

No significant events have occurred between the reporting date, 30 June 2025, and the date the financial statements were authorized for issue that would require adjustment to or disclosure in the financial statements.

Page 13

THE HIVE FOUNDATION LIMITED

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 JUNE 2025

2025 2024
£ £
INCOME AND ENDOWMENTS
Donations and other income
Donations 263 9,259
Charitable activities
Coaching and courses 103,901 88,630
Grants 3,316 -
107,217 88,630
Other income
Sundry Receipts 2,317 121
Total incoming resources 109,797 98,010
EXPENDITURE
Other trading activities
Purchases 12,530 9,035
Charitable activities
Rent 12,000 12,000
Pitch hire 31,963 27,893
43,963 39,893
Support costs
Management
Postage and stationery 205 427
Finance
Light and heat 800 1,110
Bank charges 227 180
1,027 1,290
Other
Staff salaries 77,839 67,848
Employer's NI and pensions 6,142 5,490
Sundries 1,449 41
85,430 73,379
Total resources expended 143,155 124,024
Net expenditure (33,358) (26,014)

This page does not form part of the statutory financial statements

Page 14