New Beyond Limited
Unaudited Financial Statements
For the year ended 31 December 2022
For Filing with Registrar
Company Registration No. 12852921 (England and Wales)
New Beyond Limited
Contents
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 5
New Beyond Limited
Balance Sheet
As at 31 December 2022
Page 1
2022
2021
Notes
£
£
£
£
Fixed assets
Investments
3
479,592
395,232
Current assets
Debtors
4
100
Cash at bank and in hand
150
150
100
Creditors: amounts falling due within one year
5
(395,232)
(395,232)
Net current liabilities
(395,082)
(395,132)
Net assets
84,510
100
Capital and reserves
Called up share capital
6
250
100
Share premium account
84,260
Total equity
84,510
100
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 18 August 2023 and are signed on its behalf by:
W Dawson
Director
Company Registration No. 12852921
New Beyond Limited
Statement of Changes in Equity
For the year ended 31 December 2022
Page 2
Share capital
Share premium account
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 2 September 2020
Period ended 31 December 2021:
Profit and total comprehensive income for the period
-
-
Issue of share capital
6
100
-
100
Balance at 31 December 2021
100
100
Year ended 31 December 2022:
Profit and total comprehensive income for the year
-
-
55,000
55,000
Issue of share capital
6
150
84,260
-
84,410
Dividends
-
-
(55,000)
(55,000)
Balance at 31 December 2022
250
84,260
84,510
New Beyond Limited
Notes to the Financial Statements
For the year ended 31 December 2022
Page 3
1
Accounting policies
Company information
New Beyond Limited is a private company limited by shares incorporated in England and Wales. The registered office is 4A King Street, London, United Kingdom, W6 0QA.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
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 pound.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.
Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.
1.3
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 current liabilities.
1.4
Financial instruments
The company has only basic financial instruments measured at amortised cost, with no financial instruments classified as other, or basic financial instruments measured at fair value.
1.5
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
New Beyond Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2022
Page 4
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2022
2021
Number
Number
Total
3
3
3
Fixed asset investments
2022
2021
£
£
Other investments other than loans
479,592
395,232
Movements in fixed asset investments
Investments
£
Cost or valuation
At 1 January 2022
395,232
Additions
84,360
At 31 December 2022
479,592
Carrying amount
At 31 December 2022
479,592
At 31 December 2021
395,232
On 23 February 2022, New Beyond Limited purchased 2,600 ordinary shares in Beyond Communications in a share for share exchange for 100 Ordinary Shares in Ney Beyond limited. These shares were valued at £843.60 per share.
4
Debtors
2022
2021
Amounts falling due within one year:
£
£
Other debtors
100
New Beyond Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2022
Page 5
5
Creditors: amounts falling due within one year
2022
2021
£
£
Amounts owed to group undertakings
395,232
395,232
6
Called up share capital
2022
2021
2022
2021
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary Shares of £1 each
250
100
250
100
On 23 February 2022 New Beyond Limited allotted 100 Ordinary shares of £1 each at a value of £843.60 per share.
On 17 November 2022 New Beyond Limited allotted 50 Ordinary shares of £1 each at par.
7
Related party transactions
During the year, New Beyond Limited became the 100% owner of Beyond Communications Limited, and
therefore the company has taken the exemption to disclose related party transactions under the same
100% control in accordance with FRS102 - Section 33 "Related Party Disclosures" paragraph
33.7.
At the prior period end, the company owed £395,232 to Beyond Communications Limited.
At the year end, the company was owed £nil (2021: £100) from the directors of the company.
8
Parent company
There is no ultimate controlling party.