2023-01-012023-12-312023-12-31false11824347BEONHAND 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BEONHAND LIMITED

Registered Number
11824347
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2023

BEONHAND LIMITED
Company Information
for the year from 1 January 2023 to 31 December 2023

Directors

LOBO, Sanjay
ROBERTSON, Andrew Gordon James

Registered Address

19 Main Street
Newcastle Upon Tyne
NE20 9NH

Registered Number

11824347 (England and Wales)
BEONHAND LIMITED
Balance Sheet as at
31 December 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets323,5308,023
23,5308,023
Current assets
Debtors593,374119,761
Cash at bank and on hand886,9801,228,191
1,480,3541,347,952
Creditors amounts falling due within one year4(787,708)(391,086)
Net current assets (liabilities)692,646956,866
Total assets less current liabilities716,176964,889
Net assets716,176964,889
Capital and reserves
Called up share capital33
Share premium2,798,2952,548,297
Profit and loss account(2,082,122)(1,583,411)
Shareholders' funds716,176964,889
The financial statements were approved and authorised for issue by the Board of Directors on 25 September 2024, and are signed on its behalf by:
LOBO, Sanjay
Director
Registered Company No. 11824347
BEONHAND LIMITED
Notes to the Financial Statements
for the year ended 31 December 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Going concern
After reviewing the company's forecasts and projections, 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 of accounting in preparing its financial statements.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Revenue from rendering of services
Revenue from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Operating leases
Where, substantially, all the risks and rewards of ownership of the asset do not transfer from the lessor to the company, the lease is treated as an operating lease. Rentals payable under operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease.
Defined contribution pension plan
The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Straight line (years)
Office Equipment3
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit and loss. All other investments are subsequently measured at cost less impairment. Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment.
2.Average number of employees

20232022
Average number of employees during the year2917
3.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
At 01 January 2336,05736,057
Additions26,38326,383
Disposals(1,823)(1,823)
At 31 December 2360,61760,617
Depreciation and impairment
At 01 January 2328,03428,034
Charge for year9,2209,220
On disposals(167)(167)
At 31 December 2337,08737,087
Net book value
At 31 December 2323,53023,530
At 31 December 228,0238,023
4.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables4,02833,307
Bank borrowings and overdrafts-622
Taxation and social security174,855180,746
Other creditors23,29919,372
Accrued liabilities and deferred income585,526157,039
Total787,708391,086
5.Creditors: amounts due after one year
6.Pension commitments
The company operates a defined contribution pension scheme for the directors and senior employees. The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date, unpaid contributions of £Nil (2022 - £19,368) were due to the fund. They are included in other creditors.
7.Other commitments
The company has an Enterprise Management Incentive (EMI) share option scheme for employees of the company. 163,234 share options with an exercise price of £0.60 are in existence and no options were exercised during the year. At the year end, all share options remain outstanding. On the ground of materiality, no charge has been made to the profit and loss account in respect of the options issued.