Caseware UK (AP4) 2024.0.164 2024.0.164 2024-03-302024-03-30true2023-04-01falseThe company's principal activity during the year is that of telecom wholesalers.55falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 05065213 2023-04-01 2024-03-30 05065213 2022-04-01 2023-03-31 05065213 2024-03-30 05065213 2023-03-31 05065213 c:Director1 2023-04-01 2024-03-30 05065213 c:Director2 2023-04-01 2024-03-30 05065213 c:RegisteredOffice 2023-04-01 2024-03-30 05065213 d:PlantMachinery 2023-04-01 2024-03-30 05065213 d:PlantMachinery 2024-03-30 05065213 d:PlantMachinery 2023-03-31 05065213 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-03-30 05065213 d:MotorVehicles 2023-04-01 2024-03-30 05065213 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-30 05065213 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 05065213 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-30 05065213 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 05065213 d:ShareCapital 2024-03-30 05065213 d:ShareCapital 2023-03-31 05065213 d:RetainedEarningsAccumulatedLosses 2024-03-30 05065213 d:RetainedEarningsAccumulatedLosses 2023-03-31 05065213 c:FRS102 2023-04-01 2024-03-30 05065213 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-30 05065213 c:AbridgedAccounts 2023-04-01 2024-03-30 05065213 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-30 05065213 d:WithinOneYear 2024-03-30 05065213 d:WithinOneYear 2023-03-31 05065213 d:BetweenOneFiveYears 2024-03-30 05065213 d:BetweenOneFiveYears 2023-03-31 05065213 2 2023-04-01 2024-03-30 05065213 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2024-03-30 05065213 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-03-31 05065213 d:LeasedAssetsHeldAsLessee 2024-03-30 05065213 d:LeasedAssetsHeldAsLessee 2023-03-31 05065213 e:PoundSterling 2023-04-01 2024-03-30 iso4217:GBP xbrli:pure

Registered number: 05065213









BEANSTALK TELECOM LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 MARCH 2024

 
BEANSTALK TELECOM LTD
 

CONTENTS



Page
Company Information
 
1
Statement of Financial Position
 
2 - 3
Notes to the Financial Statements
 
4 - 10

 
BEANSTALK TELECOM LTD
 
 
COMPANY INFORMATION


Directors
S Bean 
D L Bean 




Registered number
05065213



Registered office
14 Ringley Drive
Whitefield

Manchester

Lancashire

M45 7LF




Page 1

 
BEANSTALK TELECOM LTD
REGISTERED NUMBER: 05065213

STATEMENT OF FINANCIAL POSITION
AS AT 30 MARCH 2024

30 March
31 March
2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
46,400
45,429

  
46,400
45,429

Current assets
  

Debtors
  
311,377
279,550

Cash at bank and in hand
  
46,274
28,778

  
357,651
308,328

Creditors: amounts falling due within one year
  
(352,693)
(273,383)

Net current assets
  
 
 
4,958
 
 
34,945

Total assets less current liabilities
  
51,358
80,374

Creditors: amounts falling due after more than one year
  
(13,333)
(65,632)

Provisions for liabilities
  
(11,461)
(8,632)

Net assets
  
26,564
6,110


Capital and reserves
  

Called up share capital 
  
1,000
1,000

Profit and loss account
  
25,564
5,110

  
26,564
6,110

Page 2

 
BEANSTALK TELECOM LTD
REGISTERED NUMBER: 05065213
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 MARCH 2024

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 members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006.

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 income and retained earnings 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 by: 




S Bean
Director

Date: 7 February 2025

The notes on pages 4 to 10 form part of these financial statements.
Page 3

 
BEANSTALK TELECOM LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2024

1.


General information

The company is a private company limited by shares, registered in England and Wales (company
registration number 05065213). The address of the registered office is 14 Ringley Drive, Whitefield, Manchester, M45 7LF.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

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.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 4

 
BEANSTALK TELECOM LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2024

2.Accounting policies (continued)

 
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

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

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 Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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 reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


Page 5

 
BEANSTALK TELECOM LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2024

2.Accounting policies (continued)

 
2.9

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.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
reducing balance
Motor vehicles
-
33%
straight line

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.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

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. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

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

Page 6

 
BEANSTALK TELECOM LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2024

2.Accounting policies (continued)

  
2.13

Judgements and key sources of estimate uncertainty

The preparation of the financial statements requires management to make judgements, estimatesand assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Significant judgements
Management do not feel that there are any judgements (apart from those involving estimations) that
have been made in the process of applying the entity's accounting policies which have a significant
effect on the amounts recognised in the financial statements.
Key sources of estimation uncertainty
Accounting estimates and assumptions are made concerning the future and, by their nature, will
rarely equal the related actual outcome. The key assumptions and other sources of estimation
uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of
assets and liabilities within the next financial year are as follows:
Estimated useful life and residual value of fixed assets
Depreciation of tangible fixed assets have been based on the estimated useful lives and residual
values deemed appropriate by the directors. Estimated useful lives and residual values are reviewed
annually and revised as appropriate. Revisions take into account estimated useful lives and residual
values, as evidenced by disposals during the current and prior accounting periods.
Impairment of debtors
The company makes an estimate of the recoverable value of trade debtors. When assessing the
impairment of trade debtors, management include factors including the current credit rating of the
debtor, the ageing profile of the debtors and historical experience.

 
2.14

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.15

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 7

 
BEANSTALK TELECOM LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2024

2.Accounting policies (continued)

  
2.16

Share capital

Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new
ordinary shares or options are shown in equity as a deduction, net of tax from the proceeds.


3.


Employees

The average monthly number of employees, including directors, during the year was 5 (2023 - 5).

Page 8

 
BEANSTALK TELECOM LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2024

4.


Tangible fixed assets







Tangible fixed assets

£



Cost or valuation


At 1 April 2023
94,868


Additions
2,354



At 30 March 2024

97,222



Depreciation


At 1 April 2023
49,438


Charge for the year on owned assets
1,384



At 30 March 2024

50,822



Net book value



At 30 March 2024
46,400



At 31 March 2023
45,429

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


30 March
31 March
2024
2023
£
£



Motor vehicles
40,540
40,540

40,540
40,540

Included within fixed assets are pledged assets in respect of hire purchase liabilities of £42,299 (2023:
£54,395).
There is a fixed and floating charge secured over the assets and trade of the company in relation to an bank overdraft of £14,855 (2023: £26,183).

Page 9

 
BEANSTALK TELECOM LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2024

5.


Commitments under operating leases

At 30 March 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

30 March
31 March
2024
2023
£
£


Not later than 1 year
8,570
8,570

Later than 1 year and not later than 5 years
1,428
9,998

9,998
18,568


6.


Transactions with directors

During the year a director received advances totalling £154,117 (2023: £141,043). During the same period the director repaid amounts totalling £102,807 (2023 £69,538). All loans with directors are unsecured, interest free, and repayable on demand.
 
Page 10