Company Registration No. 10637337 (England and Wales)
Beam Up Ltd
Unaudited accounts
for the year ended 28 February 2022
Beam Up Ltd
Unaudited accounts
Contents
Beam Up Ltd
Company Information
for the year ended 28 February 2022
Directors
Sebastian Barker
Richard Wayne Lewis
Alexander Mark Stephany
Marie Moussavou
Company Number
10637337 (England and Wales)
Registered Office
131 Finsbury Pavement
London
EC2A 1NT
United Kingdom
Accountants
The Accountancy Cloud
12-18 Hoxton Street
London
N1 6NG
UK
Beam Up Ltd
Statement of financial position
as at
28 February 2022
Intangible assets
4,734
10,211
Tangible assets
45,617
25,929
Cash at bank and in hand
4,101,282
4,536,976
Creditors: amounts falling due within one year
(135,619)
(45,830)
Net current assets
4,192,835
4,594,589
Total assets less current liabilities
4,243,186
4,630,729
Creditors: amounts falling due after more than one year
(422,959)
(232,500)
Net assets
3,820,227
4,398,229
Called up share capital
20
20
Share premium
4,483,237
4,481,811
Profit and loss account
(663,030)
(83,602)
Shareholders' funds
3,820,227
4,398,229
For the year ending 28 February 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 8 July 2022 and were signed on its behalf by
Alexander Mark Stephany
Director
Company Registration No. 10637337
Beam Up Ltd
Notes to the Accounts
for the year ended 28 February 2022
Beam Up Ltd is a private company, limited by shares, registered in England and Wales, registration number 10637337. The registered office is 131 Finsbury Pavement, London, EC2A 1NT, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
Straight line over 5 years
Computer equipment
Reducing balance over 3 years
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Amortisation has been provided at the following rates in order to write off the intangible assets over their estimated useful lives:
Domain Names - Straight line over 10 years
Trademarks - Straight line over 10 years
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful economic lives of the related assets. Grants relating to other expenditure are credited to the profit and loss account in the period the related expenditure is recognised.
Government grants are received in relation to the Coronavirus Job Retention Scheme and are credited to the profit and loss on receipt. The corresponding expense is also included within the profit and loss for the same period.
Expenditure on research and development is written off in the year in which it is incurred.
Research and Development Tax Credit
During the financial year, Beam Up Limited received a tax credit for qualifying research and development expenditure under the Research and Development tax relief scheme. This is presented as a tax repayment in the Statement of Profit or Loss in line with disclosure requirements under FRS 102.
Beam Up Ltd
Notes to the Accounts
for the year ended 28 February 2022
During the year, the Company identified a classification error within equity relating to the Seed Shares issued during the year. Share premium of £3,999,954 was incorrectly classified as Share capital. Therefore, the Company had posted a reclassification adjustment to transfer £3,999,954 from Share Capital to the Share Premium account to correct the prior year presentation.
4
Intangible fixed assets
Other
At 28 February 2022
15,422
Charge for the year
5,477
At 28 February 2022
10,688
At 28 February 2022
4,734
At 28 February 2021
10,211
5
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 March 2021
4,695
26,561
31,256
Additions
10,040
26,122
36,162
At 28 February 2022
14,735
52,683
67,418
At 1 March 2021
537
4,790
5,327
Charge for the year
2,687
13,787
16,474
At 28 February 2022
3,224
18,577
21,801
At 28 February 2022
11,511
34,106
45,617
At 28 February 2021
4,158
21,771
25,929
6
Debtors: amounts falling due within one year
2022
2021
Trade debtors
196,449
100,640
Accrued income and prepayments
4,348
104
Other debtors
26,375
2,699
Beam Up Ltd
Notes to the Accounts
for the year ended 28 February 2022
7
Creditors: amounts falling due within one year
2022
2021
Trade creditors
26,903
385
Taxes and social security
74,455
-
Other creditors
1,654
5,643
8
Creditors: amounts falling due after more than one year
2022
2021
Other creditors
383,420
182,500
9
Average number of employees
During the year the average number of employees was 34 (2021: 20).