Located new beads (5)
I believe the answer is:
based
'located' is the definition.
(to be based somewhere is to be located there)
'new beads' is the wordplay.
'new' is an anagram indicator.
'beads' is an anagram of 'BASED'.
(Other definitions for based that I've seen before include "Worthless" , "Founded or used as evidence" , "foundation" , "Located" , "Positioned" .)