Beep Digital Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09570317

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

FOR

BEEP DIGITAL LTD

Page

Balance sheet

1

Notes to the financial statements

3

Fixed assets

Intangible assets

4

13

165

Tangible assets

5

120,731

101,265

120,744

101,430

Current assets

Stocks

1,460

-

Debtors

6

153,047

133,359

Cash at bank and in hand

258,908

135,945

413,415

269,304

Creditors

Amounts falling due within one year

7

117,592

81,580

Net current assets

295,823

187,724

Total assets less current liabilities

416,567

289,154

Creditors

Amounts falling due after more than one year

8

(143,969

)

(48,425

)

Provisions for liabilities

10

(18,314

)

(13,734

)

Net assets

254,284

226,995

Capital and reserves

Called up share capital

11

100

100

Retained earnings

254,184

226,895

Shareholders' funds

254,284

226,995

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 Statement of comprehensive income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 August 2021 and were signed on its behalf by:

Mrs A J Vincent - Director

1.	Statutory information

Beep Digital Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 09570317. The registered office is 7 & 8 Church Street, Wimborne, Dorset, BH21 1JH, and business address is 11 Winchester Place, North Street, Poole, Dorset, BH15 1NX.

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.

Turnover

Turnover represents amounts receivable, excluding value added tax, in respect of services provided in the ordinary course of business. Turnover is recognised when the service has been provided to the customer.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Trademarks are being amortised evenly over their estimated useful life of four years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance and Over the term of the lease

Computer equipment

-

33% on reducing balance

Government grants

Using the accrual basis government grants relating to revenue are recognised in income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate. Grants which become receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs shall be recognised in income in the period in which it becomes receivable.

Stocks

Stock and Work In Progress are valued at the lower of cost and net realisable value.

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 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.

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.

Financial instruments

Basic financial instruments are initially recognised at transaction price and accounted for according to the substance of the contractual arrangement, as either financial assets, liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company, after deducting all liabilities.

At each balance sheet date, financial instruments are measured at amortised cost using the effective interest method. Any losses arising from impairment are recognised in the profit and loss account in the period to which they relate.

3.	Employees and directors

The average number of employees during the year was 15 (2020 - 13 ) .

4.	Intangible fixed assets

Trademarks

£

Cost

At 1 April 2020

and 31 March 2021

610

Amortisation

At 1 April 2020

445

Amortisation for year

152

At 31 March 2021

597

Net book value

At 31 March 2021

13

At 31 March 2020

165

5.	Tangible fixed assets

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

Cost

At 1 April 2020

19,158

89,023

45,858

154,039

Additions

39,609

-

28,397

68,006

Disposals

(4,090

)

-

(7,871

)

(11,961

)

At 31 March 2021

54,677

89,023

66,384

210,084

Depreciation

At 1 April 2020

10,151

17,037

25,586

52,774

Charge for year

11,478

15,390

14,629

41,497

Eliminated on disposal

(1,385

)

-

(3,533

)

(4,918

)

At 31 March 2021

20,244

32,427

36,682

89,353

Net book value

At 31 March 2021

34,433

56,596

29,702

120,731

At 31 March 2020

9,007

71,986

20,272

101,265

Fixed assets, included in the above, which are held under finance leases are as follows:

Motor

vehicles

£

Cost

At 1 April 2020

and 31 March 2021

33,233

Depreciation

At 1 April 2020

4,252

Charge for year

4,639

At 31 March 2021

8,891

Net book value

At 31 March 2021

24,342

At 31 March 2020

28,981

6.

Debtors: amounts falling due within one year

2021

2020

£

£

Trade debtors

149,227

131,109

Other debtors

-

2,250

VAT

3,820

-

153,047

133,359

7.

Creditors: amounts falling due within one year

2021

2020

£

£

Other loans

2,114

10,220

Finance leases

4,610

4,393

Trade creditors

942

1,523

Tax

62,340

37,222

Social security and other taxes

12,008

9,722

VAT

-

11,685

Other creditors

31,499

2,290

Directors' current accounts

729

775

Accruals and deferred income

3,350

3,750

117,592

81,580

8.

Creditors: amounts falling due after more than one year

2021

2020

£

£

Other loans - 1-2 years

26,960

11,541

Other loans - 2-5 years

95,361

10,626

Finance leases

21,648

26,258

143,969

48,425

9.	Secured debts

The following secured debts are included within creditors:

2021

2020

£

£

Finance leases

26,258

30,651

Amounts owing under finance lease agreements are secured against the assets to which they relate.

10.	Provisions for liabilities

2021

2020

£

£

Deferred tax

18,314

13,734

Deferred

tax

£

Balance at 1 April 2020

13,734

Charge to Income statement during year

4,580

Balance at 31 March 2021

18,314

11.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2021

2020

value:

£

£

100

Ordinary

£1

100

100

12.	Ultimate controlling party

The company is under the control of the Directors, Mr & Mrs Vincent, who between them own 100% of the share capital of the company.