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Company No: 10362947 (England and Wales)

BEATCHAIN LIMITED

Unaudited Financial Statements
For the financial year ended 30 September 2024
Pages for filing with the registrar

BEATCHAIN LIMITED

Unaudited Financial Statements

For the financial year ended 30 September 2024

Contents

BEATCHAIN LIMITED

COMPANY INFORMATION

For the financial year ended 30 September 2024
BEATCHAIN LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 30 September 2024
DIRECTORS L A Mendoza
L Mendoza
B M Mendoza
REGISTERED OFFICE Level 1 Brockbourne House
77 Mount Ephraim
Tunbridge Wells
TN4 8BS
United Kingdom
COMPANY NUMBER 10362947 (England and Wales)
ACCOUNTANT S&W Partners (South East) Limited
Brockbourne House
77 Mount Ephraim
Royal Tunbridge Wells
TN4 8BS
BEATCHAIN LIMITED

BALANCE SHEET

As at 30 September 2024
BEATCHAIN LIMITED

BALANCE SHEET (continued)

As at 30 September 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 12,204 7,168
12,204 7,168
Current assets
Debtors 4 18,554 206,662
Cash at bank and in hand 56,271 55,856
74,825 262,518
Creditors: amounts falling due within one year 5 ( 10,609,047) ( 8,764,162)
Net current liabilities (10,534,222) (8,501,644)
Total assets less current liabilities (10,522,018) (8,494,476)
Net liabilities ( 10,522,018) ( 8,494,476)
Capital and reserves
Called-up share capital 1,231 1,241
Share premium account 249,896 249,896
Capital redemption reserve 10 10
Profit and loss account ( 10,773,155 ) ( 8,745,623 )
Total shareholders' deficit ( 10,522,018) ( 8,494,476)

For the financial year ending 30 September 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 Beatchain Limited (registered number: 10362947) were approved and authorised for issue by the Board of Directors on 28 July 2025. They were signed on its behalf by:

L A Mendoza
Director
BEATCHAIN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
BEATCHAIN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 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

Beatchain Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Level 1 Brockbourne House, 77 Mount Ephraim, Tunbridge Wells, TN4 8BS, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, including Section 1A of Financial Reporting Standard 102 (FRS102), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The functional currency of Beatchain Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.

These financial statements are separate financial statements.

Going concern

The financial statements have been prepared on a going concern basis.

The directors have made an assessment in preparing these financial statements as to whether the Company is a going concern and have concluded that there are no material uncertainties that may cast significant doubt on the Company's ability to continue as a going concern for a period of at least 12 months from the date of approval of these financial statements.

The parent company Zoomdance has confirmed it's support for the company's ongoing ability to continue as a going concern.

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 on monetary items.

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 scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Finance costs

Finance costs are charged to the Profit and Loss Account over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount.

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.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on enacted or substantively enacted tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax assets are recognised only to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilised.

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:

Office equipment 3 years straight line
Computer equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 15 18

3. Tangible assets

Office equipment Computer equipment Total
£ £ £
Cost
At 01 October 2023 7,672 47,965 55,637
Additions 0 11,552 11,552
At 30 September 2024 7,672 59,517 67,189
Accumulated depreciation
At 01 October 2023 7,672 40,797 48,469
Charge for the financial year 0 6,516 6,516
At 30 September 2024 7,672 47,313 54,985
Net book value
At 30 September 2024 0 12,204 12,204
At 30 September 2023 0 7,168 7,168

4. Debtors

2024 2023
£ £
Trade debtors 1,231 361
Accrued income 3,854 189,059
VAT recoverable 13,238 17,011
Other debtors 231 231
18,554 206,662

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 5,880 12,840
Amounts owed to directors ( 2) 0
Accruals 35,056 112,748
Other taxation and social security 27,730 29,547
Other creditors 10,540,383 8,609,027
10,609,047 8,764,162

6. 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 £10,534,999 (2023: £8,604,795) was due to the parent and is included within other creditors. The balance accrues interest at a rate of 4% and interest of £382,105 (2023: £321,357) was charged in the year. The loan is repayable on demand.