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REGISTERED NUMBER: NI036691 (Northern Ireland)













BEAM VACUUM SYSTEMS LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






BEAM VACUUM SYSTEMS LIMITED (REGISTERED NUMBER: NI036691)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 3

Notes to the Financial Statements 5


BEAM VACUUM SYSTEMS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mr P G Keenan
Mrs P B Osborne
Mr T J D Ross



SECRETARY: Mrs P M Loughlin



REGISTERED OFFICE: Opus Business Park
35 Aughrim Road
Magherafelt
Co. Londonderry
BT45 6BB



REGISTERED NUMBER: NI036691 (Northern Ireland)



AUDITORS: McAleer Jackson Ltd
Chartered Accountants & Statutory Auditors
Church House
24 Dublin Road
OMAGH
Co. Tyrone
BT78 1HE



BANKERS: Danske Bank
North Business Centre
1 - 2 Broadway
Ballymena
Co. Antrim
BT43 7AA




BEAM VACUUM SYSTEMS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







BANKERS: Bank of Ireland
11 Market Street
Magherafelt
Co. Antrim
BT45 6EE

BEAM VACUUM SYSTEMS LIMITED (REGISTERED NUMBER: NI036691)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 163,880 181,944
Investments 5 - 744,862
163,880 926,806

CURRENT ASSETS
Stocks 1,011,305 1,017,259
Debtors 6 714,516 731,336
Cash at bank 1,875,780 3,244,014
3,601,601 4,992,609
CREDITORS
Amounts falling due within one year 7 1,467,972 1,506,836
NET CURRENT ASSETS 2,133,629 3,485,773
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,297,509

4,412,579

PROVISIONS FOR LIABILITIES 32,644 36,891
NET ASSETS 2,264,865 4,375,688

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 2,264,765 4,375,588
SHAREHOLDERS' FUNDS 2,264,865 4,375,688

BEAM VACUUM SYSTEMS LIMITED (REGISTERED NUMBER: NI036691)

BALANCE SHEET - continued
31 MARCH 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 November 2024 and were signed on its behalf by:





Mr P G Keenan - Director


BEAM VACUUM SYSTEMS LIMITED (REGISTERED NUMBER: NI036691)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Beam Vacuum Systems Limited is a private company, limited by shares , registered in Northern Ireland. 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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The financial statements are shown in sterling, which is the functional currency of the company.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, and is stated net after discounts, rebates, value added tax and other sales taxes.

Services are deemed to have been delivered to customers when and to the extent that the company has met its obligations under its service contracts.

Tangible fixed assets
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Where parts of an item of tangible fixed assets have different useful lives, they are accounted for as separate items of tangible fixed assets, for example land is treated separately from buildings.

The company assesses at each reporting date whether tangible fixed assets are impaired.

Depreciation is charged to the profit and loss account on a straight-line basis over the estimated useful lives of each part of an item of tangible fixed assets. Leased assets are depreciated over the shorter of the lease term and their useful lives. The estimated useful lives are as follows:

Plant & machinery - 25% reducing balance
Office furniture and equipment - 25% reducing balance
Motor vehicles - 25% reducing balance

Depreciation methods, useful lives and residual values are reviewed if there is an indication of a significant change since the last annual reporting date in the pattern by which the company expects to consume an asset’s future economic benefits.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

BEAM VACUUM SYSTEMS LIMITED (REGISTERED NUMBER: NI036691)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

Other financial instruments
Other financial instruments not meeting the definition of basic financial instruments are recognised
initially at fair value. Subsequent to initial recognition other financial instruments are measured at fair
value with changes recognised in profit or loss except as follows:

- investments in equity instruments that are not publicly traded and whose fair value cannot
otherwise be measured reliably shall be measured at cost less impairment.

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 balance sheet date.

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

Foreign currencies
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 rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

BEAM VACUUM SYSTEMS LIMITED (REGISTERED NUMBER: NI036691)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transactional price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Going concern
Given the current economic uncertainty, the directors have considered the extent to which these matters create uncertainty, particularly over the company’s future trading prospects and the availability of finance in the foreseeable future. The company has considerable financial resources and are in a strong net asset position. As a consequence, the directors believe that the company is well placed to manage its business risks successfully despite the current uncertain economic outlook. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus, they continue to adopt the going concern basis in preparing the annual financial statement.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 37 (2023 - 34 ) .

4. TANGIBLE FIXED ASSETS
Office
Plant and furniture Motor
machinery & equipment vehicles Totals
£    £    £    £   
COST
At 1 April 2023 71,883 105,858 323,701 501,442
Additions 3,506 7,829 31,668 43,003
Disposals - (4,088 ) (49,547 ) (53,635 )
At 31 March 2024 75,389 109,599 305,822 490,810
DEPRECIATION
At 1 April 2023 62,323 80,700 176,475 319,498
Charge for year 3,332 7,480 41,011 51,823
Eliminated on disposal - (3,313 ) (41,078 ) (44,391 )
At 31 March 2024 65,655 84,867 176,408 326,930
NET BOOK VALUE
At 31 March 2024 9,734 24,732 129,414 163,880
At 31 March 2023 9,560 25,158 147,226 181,944

BEAM VACUUM SYSTEMS LIMITED (REGISTERED NUMBER: NI036691)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

5. FIXED ASSET INVESTMENTS

2024 2023
£ £

Financial assets designated at fair value through profit or loss - 744,862
- 744,862

The company's investments are stated at fair value. During the year a gain of £55,271 (2022 Loss - £27,120) was recognised.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 501,528 506,905
Other debtors 212,988 224,431
714,516 731,336

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 87,154 310,013
Taxation and social security 207,891 41,251
Other creditors 1,172,927 1,155,572
1,467,972 1,506,836

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

MICHAEL BARNETT (Senior Statutory Auditor)
for and on behalf of McAleer Jackson Ltd

9. CONTINGENT LIABILITIES

There are no contingencies at the year end (2023 - None).

10. FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

BEAM VACUUM SYSTEMS LIMITED (REGISTERED NUMBER: NI036691)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

11. POST BALANCE SHEET EVENTS

There have been no significant post balance sheet events.

12. ULTIMATE CONTROLLING PARTY

The immediate parent company is Inglebrook Holdings Limited.

The ultimate controlling parties at the date of the financial statements are regarded as Mr P
E Keenan and Mrs M Keenan due to their majority shareholding in Inglebrook Holdings Limited. At the date of signing of the financial statements, it was Mr P G Keenan.