The Hive Football Centre Holdings Ltd - Limited company accounts 18.2

REGISTERED NUMBER: 08120153 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTOR AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2019

FOR

THE HIVE FOOTBALL CENTRE HOLDINGS

LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Director

3

Report of the Independent Auditors

4

Statement of Income and Retained Earnings

6

Statement of Financial Position

7

Statement of Cash Flows

8

Notes to the Statement of Cash Flows

9

Notes to the Financial Statements

10

DIRECTOR:

A A Kleanthous

SECRETARY:

M Patel

REGISTERED OFFICE:

1 Kings Avenue

London

N21 3NA

REGISTERED NUMBER:

08120153 (England and Wales)

INDEPENDENT AUDITORS:

AGK Partners

Chartered Accountants & Statutory Auditors

1 Kings Avenue

London

N21 3NA

The director presents his strategic report for the year ended 30 June 2019.

REVIEW OF BUSINESS

The principal activity of the Company is that of a holding company of a group operating a football stadium complex. The

company has invested in a number of companies that carry out leisure activities within the football complex of the Hive.

The Hive Football Centre Holdings Group has performed satisfactorily, and changes have been made to further improve

its performance.

PRINCIPAL RISKS AND UNCERTAINTIES

The main risks, to which the group has exposure, are analysed in the ultimate parent undertaking Double A Group

Limited.

KEY PERFORMANCE INDICATORS

Because of the diversity of the Group there are no relevant key performance indicators. The management of the Group

sets targets and performance against these is closely monitored and prompt corrective action is taken.

GOING CONCERN

The director has a reasonable expectation that the Company has adequate resources to continue in operational

existence for the foreseeable future. The director regards the foreseeable future as no less than twelve months following

the publication of its annual financial statements. The director has considered the company's balance sheet position as

at the year end, its working capital forecasts, the current COVID19 crisis and projections, taking account of reasonably

possible changes in trading performance and the current state of its operating market, and are satisfied that the

company's financial position is improving and will enable the company to remain in operational existence. In addition,

the director and ultimate shareholder has agreed to provide continuing financial support as and when required to enable

the company and the group to continue in operational existence. Accordingly, they have adopted going concern basis in

preparing these financial statements.

ON BEHALF OF THE BOARD:

A A Kleanthous - Director

27 March 2020

The director presents his report with the financial statements of the company for the year ended 30 June 2019.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of a holding company of a group operating a

football stadium complex.

DIVIDENDS

No dividends will be distributed for the year ended 30 June 2019.

DIRECTOR

A A Kleanthous held office during the whole of the period from 1 July 2018 to the date of this report.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES

The director is responsible for preparing the Strategic Report, the Report of the Director and the financial statements in

accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director

has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting

Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve

the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company

and of the profit or loss of the company for that period. In preparing these financial statements, the director is required

to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the

company's transactions and disclose with reasonable accuracy at any time the financial position of the company and

enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for

safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud

and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act

2006) of which the company's auditors are unaware, and he has taken all the steps that he ought to have taken as a

director in order to make himself aware of any relevant audit information and to establish that the company's auditors

are aware of that information.

AUDITORS

The auditors, AGK Partners, have signified their willingness to continue in office as auditors.

ON BEHALF OF THE BOARD:

A A Kleanthous - Director

27 March 2020

Opinion

We have audited the financial statements of The Hive Football Centre Holdings Limited (the 'company') for the year

ended 30 June 2019 which comprise the Statement of Income and Retained Earnings, Statement of Financial Position,

Statement of Cash Flows and Notes to the Statement of Cash Flows, Notes to the Financial Statements, including a

summary of significant accounting policies. The financial reporting framework that has been applied in their preparation

is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial

Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting

Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 30 June 2019;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law.

Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the

financial statements section of our report. We are independent of the company in accordance with the ethical

requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard,

and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit

evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to

you where:

-	the director's use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or

-

the director has not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the company's ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue.

Other information

The director is responsible for the other information. The other information comprises the information in the Strategic

Report and the Report of the Director, but does not include the financial statements and our Report of the Auditors

thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise

explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing

so, consider whether the other information is materially inconsistent with the financial statements or our knowledge

obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or

apparent material misstatements, we are required to determine whether there is a material misstatement in the financial

statements or a material misstatement of the other information. If, based on the work we have performed, we conclude

that there is a material misstatement of this other information, 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 audit:

-	the information given in the Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Strategic Report and the Report of the Director have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit,

we have not identified material misstatements in the Strategic Report or the Report of the Director.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you

if, in our opinion:

-	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of director's remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of director

As explained more fully in the Statement of Director's Responsibilities set out on page three, the director is responsible

for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such

internal control as the director determines necessary to enable the preparation of financial statements that are free from

material misstatement, whether due to fraud or error.

In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a

going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of

accounting unless the director either intends to liquidate the company or to cease operations, or has no realistic

alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from

material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion.

Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with

ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are

considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic

decisions of users taken on the basis of these financial statements.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting

Council's website at www.frc.org.uk/auditorsresponsibilities . This description forms part of our Report of the Auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the

Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those

matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent

permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's

members as a body, for our audit work, for this report, or for the opinions we have formed.

Michael Marcus (Senior Statutory Auditor)

for and on behalf of AGK Partners

Chartered Accountants & Statutory Auditors

1 Kings Avenue

London

N21 3NA

27 March 2020

REVENUE

-

-

OPERATING PROFIT and

PROFIT BEFORE TAXATION

-

-

Tax on profit

4

-

-

PROFIT FOR THE FINANCIAL YEAR

-

-

FIXED ASSETS

Investments

5

700

600

CREDITORS

Amounts falling due within one year

6

600

500

NET CURRENT LIABILITIES

(600

)

(500

)

TOTAL ASSETS LESS CURRENT LIABILITIES

100

100

CAPITAL AND RESERVES

Called up share capital

7

100

100

SHAREHOLDERS' FUNDS

100

100

The financial statements were approved by the director on 27 March 2020 and were signed by:

A A Kleanthous - Director

Cash flows from operating activities

Cash generated from operations

1

-

-

Cash flows from investing activities

Purchase of fixed asset investments

(100

)

-

Net cash from investing activities

(100

)

-

Cash flows from financing activities

Share issue

-

100

Amounts owed to/by group undertakings

100

(100

)

Net cash from financing activities

100

-

Increase in cash and cash equivalents

-

-

Cash and cash equivalents at beginning of year

-

-

Cash and cash equivalents at end of year

-

-

1.	RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

2019

2018

£

£

Profit before taxation

-

-

Cash generated from operations

-

-

1.	STATUTORY INFORMATION

The Hive Football Centre Holdings 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The directors have a reasonable expectation that the Company has adequate resources to continue in

operational existence for the foreseeable future. The directors regard the foreseeable future as no less than

twelve months following the publication of its annual financial statements. The directors have considered the

company's balance sheet position as at the year end, its working capital forecasts, the current COVID19 crisis

and projections, taking account of reasonably possible changes in trading performance and the current state of

its operating market, and are satisfied that the company's financial position is improving and will enable the

company to remain in operational existence. In addition, the directors and shareholders have agreed to provide

continuing financial support as and when required to enable the company to continue in operational existence.

Accordingly, they have adopted going concern basis in preparing these financial statements.

Preparation of consolidated financial statements

The financial statements contain information about The Hive Football Centre Holdings Limited as an individual

company and do not contain consolidated financial information as the parent of a group. The company is

exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial

statements as it and its subsidiary undertakings are included by full consolidation in the consolidated financial

statements of its parent, Double A group Limited, The Hive London, Camrose Avenue, London, HA8 6AG.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees, including the director, during the year was 1 (2018 - 1)

2019

2018

£

£

Director's remuneration

-

-

4.

TAXATION

Analysis of the tax charge

No liability to UK corporation tax arose for the year ended 30 June 2019 nor for the year ended 30 June 2018.

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 July 2018

600

Additions

100

At 30 June 2019

700

NET BOOK VALUE

At 30 June 2019

700

At 30 June 2018

600

The company's investments at the Statement of Financial Position date in the share capital of companies include

the following:

Football First Limited

Registered office: 1 Kings Avenue, London, United Kingdom, N21 3NA

Nature of business:

%

Class of shares:

holding

Ordinary

100.00

2019

2018

£

£

Aggregate capital and reserves

101,810,323

106,914,959

Profit for the year

895,634

768,521

Amber Conference Centre Limited

Registered office: 1 Kings Avenue, London, United Kingdom, N21 3NA

Nature of business:

%

Class of shares:

holding

Ordinary

100.00

2019

2018

£

£

Aggregate capital and reserves

565,907

247,702

Profit for the year

318,205

191,938

The Hive Gym Limited

Registered office: 1 Kings Avenue, London, United Kingdom, N21 3NA

Nature of business:

%

Class of shares:

holding

Ordinary

100.00

2019

2018

£

£

Aggregate capital and reserves

20,866

100

Profit for the year

20,766

-

The Hive Parking Limited

Registered office: 1 Kings Avenue, London, United Kingdom, N21 3NA

Nature of business:

%

Class of shares:

holding

Ordinary

100.00

2019

2018

£

£

Aggregate capital and reserves

263,480

238,765

Profit for the year

24,715

19,077

The Hive Stadium Limited

Registered office: 1 Kings Avenue, London, United Kingdom, N21 3NA

Nature of business:

%

Class of shares:

holding

Ordinary

100.00

2019

2018

£

£

Aggregate capital and reserves

56,848

100

Profit for the year

56,748

-

Amber Power Limited

Registered office: 1 Kings Avenue, London, United Kingdom, N21 3NA

Nature of business:

%

Class of shares:

holding

Ordinary

100.00

2019

2018

£

£

Aggregate capital and reserves

209,050

204,703

Profit for the year

4,347

13,397

The Hive Banqueting Limited

Registered office: 1 Kings Avenue, London, United Kingdom, N21 3NA

Nature of business:

%

Class of shares:

holding

Ordinary

100.00

2019

£

Aggregate capital and reserves

14,092

Profit for the year

13,992

The Hive Foundation

Registered office: 1 Kings Avenue, London, United Kingdom, N21 3NA

Nature of business:

%

Class of shares:

holding

Limited by guarantee

The Hive Football Centre Limited

Registered office: 1 Kings Avenue, London, United Kingdom, N21 3NA

Nature of business:

%

Class of shares:

holding

Limited by guarantee

2019

2018

£

£

Aggregate capital and reserves

184,510

69,080

Profit for the year

115,430

3,697

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Other creditors

600

500

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

100

Ordinary shares

1

100

100

8.

RESERVES

Retained

earnings

£

Profit for the year

-

At 30 June 2019

-

9.	RELATED PARTY DISCLOSURES

The 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 group or related undertaking are repayable on demand.

10.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is A A Kleanthous.

The immediate and ultimate controlling parent undertaking is Double A group Ltd.