Silverfin false false 31/12/2024 01/01/2024 31/12/2024 Costas Fantis 08/03/2024 03/02/2023 John Nehme 08/03/2024 Frank Seo 08/03/2024 Simon Turner 08/03/2024 07 March 2025 The principal activity of the Company during the financial year was App Development. 14638585 2024-12-31 14638585 bus:Director1 2024-12-31 14638585 bus:Director2 2024-12-31 14638585 bus:Director3 2024-12-31 14638585 bus:Director4 2024-12-31 14638585 2023-12-31 14638585 core:CurrentFinancialInstruments 2024-12-31 14638585 core:CurrentFinancialInstruments 2023-12-31 14638585 core:ShareCapital 2024-12-31 14638585 core:ShareCapital 2023-12-31 14638585 core:SharePremium 2024-12-31 14638585 core:SharePremium 2023-12-31 14638585 core:RetainedEarningsAccumulatedLosses 2024-12-31 14638585 core:RetainedEarningsAccumulatedLosses 2023-12-31 14638585 core:Goodwill 2023-12-31 14638585 core:Goodwill 2024-12-31 14638585 core:ComputerEquipment 2023-12-31 14638585 core:ComputerEquipment 2024-12-31 14638585 2024-01-01 2024-12-31 14638585 bus:FilletedAccounts 2024-01-01 2024-12-31 14638585 bus:SmallEntities 2024-01-01 2024-12-31 14638585 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 14638585 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 14638585 bus:Director1 2024-01-01 2024-12-31 14638585 bus:Director2 2024-01-01 2024-12-31 14638585 bus:Director3 2024-01-01 2024-12-31 14638585 bus:Director4 2024-01-01 2024-12-31 14638585 core:Goodwill core:TopRangeValue 2024-01-01 2024-12-31 14638585 core:Goodwill 2024-01-01 2024-12-31 14638585 core:ComputerEquipment core:TopRangeValue 2024-01-01 2024-12-31 14638585 2023-01-01 2023-12-31 14638585 core:ComputerEquipment 2024-01-01 2024-12-31 iso4217:GBP xbrli:pure

Company No: 14638585 (England and Wales)

BEACON MEDICAL SYSTEMS LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2024
Pages for filing with the registrar

BEACON MEDICAL SYSTEMS LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

BEACON MEDICAL SYSTEMS LIMITED

COMPANY INFORMATION

For the financial year ended 31 December 2024
BEACON MEDICAL SYSTEMS LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 December 2024
DIRECTORS Costas Fantis (Resigned 08 March 2024)
John Nehme (Appointed 08 March 2024)
Frank Seo (Appointed 08 March 2024)
Simon Turner (Appointed 08 March 2024)
SECRETARY Taylor Wessing Secretaries Limited
REGISTERED OFFICE 5 New Street Square
London
EC4A 3TW
United Kingdom
COMPANY NUMBER 14638585 (England and Wales)
ACCOUNTANT Gravita Essex Limited
Treviot House
186-192 High Road
Ilford
Essex
IG1 1LR
United Kingdom
BEACON MEDICAL SYSTEMS LIMITED

BALANCE SHEET

As at 31 December 2024
BEACON MEDICAL SYSTEMS LIMITED

BALANCE SHEET (continued)

As at 31 December 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 150,225 152,745
Tangible assets 4 36,532 20,758
186,757 173,503
Current assets
Debtors 5 453,097 69,779
Cash at bank and in hand 606,143 131,146
1,059,240 200,925
Creditors: amounts falling due within one year 6 ( 381,782) ( 332,921)
Net current assets/(liabilities) 677,458 (131,996)
Total assets less current liabilities 864,215 41,507
Net assets 864,215 41,507
Capital and reserves
Called-up share capital 1 1
Share premium account 3,501,879 705,954
Profit and loss account ( 2,637,665 ) ( 664,448 )
Total shareholders' funds 864,215 41,507

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Beacon Medical Systems Limited (registered number: 14638585) were approved and authorised for issue by the Board of Directors on 07 March 2025. They were signed on its behalf by:

Frank Seo
Director
BEACON MEDICAL SYSTEMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
BEACON MEDICAL SYSTEMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Employee benefits

Defined contribution schemes
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.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 5 years straight line
Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business for £184,875 is being amortised evenly over its estimated useful life of 5 years.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Computer equipment 3 years straight line

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 12 5

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 January 2024 184,875 184,875
Additions 41,376 41,376
At 31 December 2024 226,251 226,251
Accumulated amortisation
At 01 January 2024 32,130 32,130
Charge for the financial year 43,896 43,896
At 31 December 2024 76,026 76,026
Net book value
At 31 December 2024 150,225 150,225
At 31 December 2023 152,745 152,745

4. Tangible assets

Computer equipment Total
£ £
Cost
At 01 January 2024 28,088 28,088
Additions 29,992 29,992
At 31 December 2024 58,080 58,080
Accumulated depreciation
At 01 January 2024 7,330 7,330
Charge for the financial year 14,218 14,218
At 31 December 2024 21,548 21,548
Net book value
At 31 December 2024 36,532 36,532
At 31 December 2023 20,758 20,758

5. Debtors

2024 2023
£ £
Trade debtors 67,493 42,864
Corporation tax 134,880 0
Other debtors 250,724 26,915
453,097 69,779

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 0 32,389
Trade creditors 19,192 77,318
Other taxation and social security 91,030 56,719
Other creditors 271,560 166,495
381,782 332,921