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Company Registration No. 10637337 (England and Wales)
Beam Up Ltd Unaudited accounts for the year ended 28 February 2023
Beam Up Ltd Unaudited accounts Contents
Page
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Beam Up Ltd Company Information for the year ended 28 February 2023
Directors
Sebastian Barker Alexander Mark Stephany Marie Moussavou
Company Number
10637337 (England and Wales)
Registered Office
Senna Building Gorsuch Place London E2 8JF United Kingdom
Accountants
The Accountancy Cloud 12-18 Hoxton Street London N1 6NG UK
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Beam Up Ltd Statement of financial position as at 28 February 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
1,772 
4,734 
Tangible assets
76,508 
45,617 
78,280 
50,351 
Current assets
Debtors
1,307,487 
400,903 
Cash at bank and in hand
2,597,870 
4,101,282 
3,905,357 
4,502,185 
Creditors: amounts falling due within one year
(1,477,278)
(448,444)
Net current assets
2,428,079 
4,053,741 
Total assets less current liabilities
2,506,359 
4,104,092 
Creditors: amounts falling due after more than one year
(401,928)
(422,959)
Net assets
2,104,431 
3,681,133 
Capital and reserves
Called up share capital
21 
20 
Share premium
4,494,043 
4,483,237 
Profit and loss account
(2,389,633)
(802,124)
Shareholders' funds
2,104,431 
3,681,133 
For the year ending 28 February 2023 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 26 September 2023 and were signed on its behalf by
Alexander Mark Stephany Director Company Registration No. 10637337
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Beam Up Ltd Notes to the Accounts for the year ended 28 February 2023
1
Statutory information
Beam Up Ltd is a private company, limited by shares, registered in England and Wales, registration number 10637337. The registered office is Senna Building, Gorsuch Place, London, E2 8JF, 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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Going concern
The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. The Company therefore continues to adopt the going concern basis in preparing its financial statements.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates. Revenue from contracts for the provision of professional services is recognized by reference to the stage of completion. Based on the revenue stream specified in the contract terms, the entity determines the stage of completion as one of the following: - a percentage of the total contract period; or - as it invoices the customers because the amount to which it is entitled to invoice approximates the fair value of the services transferred.
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
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 5 years Trademarks - Straight line over 10 years
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Beam Up Ltd Notes to the Accounts for the year ended 28 February 2023
Government grants
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.
Research and development
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.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Prior Year Adjustment
Prior year balances were reviewed during the year and it was noted that turnover and corporation tax were not accounted for on the accruals basis. The accounts have therefore been restated, requiring the following adjustments: - Increase in Corporation Tax of £55,447 - Increase in Turnover of £235,717 - Decrease in Other Operating Income of £404,202 - Increase in Deferred Income of £312,825 - Increase in Accrued Income of £173,731 - Decrease in Retained Earnings of £139,093
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Beam Up Ltd Notes to the Accounts for the year ended 28 February 2023
4
Intangible fixed assets
Other 
£ 
Cost
At 1 March 2022
15,422 
At 28 February 2023
15,422 
Amortisation
At 1 March 2022
10,688 
Charge for the year
2,962 
At 28 February 2023
13,650 
Net book value
At 28 February 2023
1,772 
At 28 February 2022
4,734 
5
Tangible fixed assets
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 March 2022
14,735 
52,683 
67,418 
Additions
7,615 
46,642 
54,257 
At 28 February 2023
22,350 
99,325 
121,675 
Depreciation
At 1 March 2022
3,224 
18,577 
21,801 
Charge for the year
3,759 
19,607 
23,366 
At 28 February 2023
6,983 
38,184 
45,167 
Net book value
At 28 February 2023
15,367 
61,141 
76,508 
At 28 February 2022
11,511 
34,106 
45,617 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
822,955 
196,449 
Accrued income and prepayments
418,133 
178,079 
Other debtors
66,399 
26,375 
1,307,487 
400,903 
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Beam Up Ltd Notes to the Accounts for the year ended 28 February 2023
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
7,951 
- 
VAT
78,832 
25,484 
Trade creditors
1,281 
26,903 
Taxes and social security
130,991 
74,455 
Other creditors
18,084 
1,654 
Deferred income
1,240,139 
319,948 
1,477,278 
448,444 
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
24,155 
39,539 
Other creditors
377,773 
383,420 
401,928 
422,959 
9
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
2,095,003 Ordinary shares of £0.00001 each
20.95 
20.36 
Shares issued during the period:
58,408 Ordinary shares of £0.00001 each
0.58 
10
Average number of employees
During the year the average number of employees was 63 (2022: 34).
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