Caseware UK (AP4) 2023.0.135 2023.0.135 2023-09-302023-09-30true2022-10-01falseNo description of principal activity1822trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10362947 2022-10-01 2023-09-30 10362947 2021-10-01 2022-09-30 10362947 2023-09-30 10362947 2022-09-30 10362947 2021-10-01 10362947 1 2022-10-01 2023-09-30 10362947 1 2021-10-01 2022-09-30 10362947 d:Director3 2022-10-01 2023-09-30 10362947 e:OfficeEquipment 2022-10-01 2023-09-30 10362947 e:OfficeEquipment 2023-09-30 10362947 e:OfficeEquipment 2022-09-30 10362947 e:OfficeEquipment e:OwnedOrFreeholdAssets 2022-10-01 2023-09-30 10362947 e:ComputerEquipment 2022-10-01 2023-09-30 10362947 e:ComputerEquipment 2023-09-30 10362947 e:ComputerEquipment 2022-09-30 10362947 e:ComputerEquipment e:OwnedOrFreeholdAssets 2022-10-01 2023-09-30 10362947 e:OwnedOrFreeholdAssets 2022-10-01 2023-09-30 10362947 e:CurrentFinancialInstruments 2023-09-30 10362947 e:CurrentFinancialInstruments 2022-09-30 10362947 e:CurrentFinancialInstruments e:WithinOneYear 2023-09-30 10362947 e:CurrentFinancialInstruments e:WithinOneYear 2022-09-30 10362947 e:ShareCapital 2023-09-30 10362947 e:ShareCapital 2022-09-30 10362947 e:ShareCapital 2021-10-01 10362947 e:SharePremium 2023-09-30 10362947 e:SharePremium 2022-09-30 10362947 e:SharePremium 2021-10-01 10362947 e:CapitalRedemptionReserve 2023-09-30 10362947 e:CapitalRedemptionReserve 1 2022-10-01 2023-09-30 10362947 e:CapitalRedemptionReserve 2022-09-30 10362947 e:CapitalRedemptionReserve 2021-10-01 10362947 e:RevaluationReserve 1 2021-10-01 2022-09-30 10362947 e:RetainedEarningsAccumulatedLosses 2022-10-01 2023-09-30 10362947 e:RetainedEarningsAccumulatedLosses 2023-09-30 10362947 e:RetainedEarningsAccumulatedLosses 1 2022-10-01 2023-09-30 10362947 e:RetainedEarningsAccumulatedLosses 2021-10-01 2022-09-30 10362947 e:RetainedEarningsAccumulatedLosses 2022-09-30 10362947 e:RetainedEarningsAccumulatedLosses 2021-10-01 10362947 e:RetainedEarningsAccumulatedLosses 1 2021-10-01 2022-09-30 10362947 d:FRS102 2022-10-01 2023-09-30 10362947 d:AuditExempt-NoAccountantsReport 2022-10-01 2023-09-30 10362947 d:FullAccounts 2022-10-01 2023-09-30 10362947 d:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 10362947 e:SharePremium 1 2022-10-01 2023-09-30 10362947 e:SharePremium 1 2021-10-01 2022-09-30 iso4217:GBP xbrli:pure
Registered number: 10362947


BEATCHAIN LIMITED
UNAUDITED FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 30 SEPTEMBER 2023

BEATCHAIN LIMITED
REGISTERED NUMBER:10362947

BALANCE SHEET
AS AT 30 SEPTEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
7,168
11,231

  
7,168
11,231

Current assets
  

Debtors: amounts falling due within one year
 5 
206,662
59,983

Cash at bank and in hand
  
55,856
92,744

  
262,518
152,727

Creditors: amounts falling due within one year
 6 
(8,764,162)
(7,428,665)

Net current liabilities
  
 
 
(8,501,644)
 
 
(7,275,938)

Total assets less current liabilities
  
(8,494,476)
(7,264,707)

  

Net liabilities
  
(8,494,476)
(7,264,707)


Capital and reserves
  

Called up share capital 
  
1,241
1,000

Share premium account
  
249,896
249,896

Capital redemption reserve
  
10
10

Profit and loss account
  
(8,745,623)
(7,515,613)

  
(8,494,476)
(7,264,707)


Page 1

BEATCHAIN LIMITED
REGISTERED NUMBER:10362947
    
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 2 August 2024.




L. A. Mendoza
Director

The notes on pages 4 to 8 form part of these financial statements.

Page 2

BEATCHAIN LIMITED

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2023


Called up share capital
Share premium account
Capital redemption reserve
Profit and loss account
Total equity

£
£
£
£
£


At 1 October 2021
1,010
249,896
-
(5,415,197)
(5,164,291)


Comprehensive income for the year

Loss for the year
-
-
-
(2,100,416)
(2,100,416)

Shares cancelled during the year
(10)
-
10
-
-



At 1 October 2022
1,000
249,896
10
(7,515,613)
(7,264,707)


Comprehensive income for the year

Loss for the year
-
-
-
(1,230,010)
(1,230,010)

Shares issued during the year
241
-
-
-
241


At 30 September 2023
1,241
249,896
10
(8,745,623)
(8,494,476)


The notes on pages 4 to 8 form part of these financial statements.

Page 3

BEATCHAIN LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

1.


General information

Beatchain Limited (the "Company") is a private company limited by shares and incorporated in England and Wales. The registered office is Level 1, Brockbourne House, 77 Mount Ephraim, Tunbridge Wells, TN4 8BS.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future.
Having taken into account all available information about the Company's trading prospects and cash flow requirements for 12 months from the date of approval of the financial statements, the directors consider it appropriate to adopt the going concern basis of accounting in preparing the financial statements based on continued support from its directors.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 4

BEATCHAIN LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 5

BEATCHAIN LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)


2.8
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
3 years
Computer equipment
-
3 years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment.

 
2.10

 Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.11

 Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including directors, during the year was 18 (2022 - 22).

Page 6

BEATCHAIN LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

4.


Tangible fixed assets





Office equipment
Computer equipment
Total

£
£
£



Cost or valuation


At 1 October 2022
7,672
44,534
52,206


Additions
-
3,431
3,431



At 30 September 2023

7,672
47,965
55,637



Depreciation


At 1 October 2022
7,672
33,303
40,975


Charge for the year on owned assets
-
7,494
7,494



At 30 September 2023

7,672
40,797
48,469



Net book value



At 30 September 2023
-
7,168
7,168



At 30 September 2022
-
11,231
11,231


5.


Debtors

2023
2022
£
£


Trade debtors
361
755

Other debtors
17,011
11,618

Called up share capital not paid
231
-

Prepayments and accrued income
189,059
47,610

206,662
59,983


Page 7

BEATCHAIN LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
12,840
722

Other taxation and social security
29,547
27,082

Other creditors
8,609,027
7,277,986

Accruals and deferred income
112,748
122,875

8,764,162
7,428,665


Other creditors contains balance in respect of a debenture which is secured by way of a fixed charge dated 6 January 2022.


7.


Related party transactions

During the year, the Company has been loaned further funds from Zoomdance Limited, its parent company. At the year-end a balance of £8,604,795 (2022: £7,273,437) was due to the parent and is included within other creditors. The balance accrues interest at a rate of 4% and interest of £321,357 (2022: £250,941) was charged in the year. The loan is repayable on demand.

 
Page 8