Beacons Telecom Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 11852405 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 June 2021

for

BEACONS TELECOM LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

T A Mosedale

P Pelekh

V Pelekh

REGISTERED OFFICE:

Hen Beudy

Dyffryn Crawnon

Llangynidr

Crickhowell

NP8 1NU

REGISTERED NUMBER:

11852405 (England and Wales)

ACCOUNTANTS:

Haines Watts

Chartered Accountants

6-8 Bath Street

Bristol

BS1 6HL

FIXED ASSETS

Tangible assets

4

173

346

CURRENT ASSETS

Stocks

-

12,100

Debtors

5

192,338

116,857

Cash at bank

5,387

20,243

197,725

149,200

CREDITORS

Amounts falling due within one year

6

(354,096

)

(179,683

)

NET CURRENT LIABILITIES

(156,371

)

(30,483

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(156,198

)

(30,137

)

CREDITORS

Amounts falling due after more than one year

7

(46,504

)

(48,333

)

NET LIABILITIES

(202,702

)

(78,470

)

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

(202,802

)

(78,570

)

SHAREHOLDERS' FUNDS

(202,702

)

(78,470

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Profit and loss account has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 5 September 2022 and were signed on its behalf by:

T A Mosedale - Director

1.	COMPANY INFORMATION

Beacons Telecom Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The company's principal activities and nature of its operations are disclosed in the Directors' Report.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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" ("FRS 102") and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared on the historical cost convention. The principal accounting policies adopted are set out below.

Going concern

The financial statements have been prepared on a going concern basis. The directors have a reasonable expectation that despite the adverse effects COVID-19 is having on both the company and the economy as a whole the company has adequate resources to continue in operational existence for the foreseeable future. On this basis, the directors have concluded that they can continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, net of discounts, VAT and other sales related taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment

-

33% on cost

Government grants

Government grants are recognised in income on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate.

Stocks

Stocks are stated at the lower of cost and net realisable value. Cost comprises direct materials and where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

Cash and cash equivalents

Cash and cash equivalents 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 current liabilities.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets, which include trade and other debtors, amounts due from group undertakings and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost. Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Basic financial liabilities, including trade and other creditors and amounts due to group undertakings are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Financial liabilities are derecognised when, and only when, the company's contractual obligations are discharged, cancelled, or they expire.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2020 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 July 2020

and 30 June 2021

519

DEPRECIATION

At 1 July 2020

173

Charge for year

173

At 30 June 2021

346

NET BOOK VALUE

At 30 June 2021

173

At 30 June 2020

346

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

4,194

-

Other debtors

182,274

98,697

VAT

5,264

6,910

Prepayments and accrued income

606

11,250

192,338

116,857

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loans and overdrafts

3,599

1,667

Trade creditors

13,454

5,029

Social security and other taxes

1,307

1,103

Other creditors

333,901

137,756

Accruals and deferred income

1,835

34,128

354,096

179,683

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Bank loans - 1-2 years

8,877

10,000

Bank loans - 2-5 years

29,845

30,000

Bank loans more 5 yr by instal

7,782

8,333

46,504

48,333

2021

2020

£

£

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

7,782

8,333

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2021

2020

value:

£

£

100

Ordinary

£1.00

100

100

9.	RELATED PARTY DISCLOSURES

T A Mosedale is also a director of Hen Beudy Services Limited. At the year end Hen Beudy Services Limited was owed £12,937 by the company (2020 - owed the company £35,156). The loan is unsecured, interest free and is repayable on demand.

T A Mosedale, P Pelekh and V Pelekh are also directors of RC Fibre Limited. At the year end RC Fibre owed the company £182,174 (2020 - £60,736). The loan is unsecured, interest free and is repayable on demand.

At the period end Vakoms LLP was owed £322,614 (2020 - £137,771) by the company.The loan is unsecured, interest free and repayable on demand.