Meet Genie Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 11847171 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2021

for

Meet Genie Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

N Badenoch

N G Grime

B Harold

J Feasey

Sir J Hegarty

REGISTERED OFFICE:

West Bush House

Hailey Lane

Hertford Heath

Hertfordshire

SG13 7NY

REGISTERED NUMBER:

11847171 (England and Wales)

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

1,184

995

1,184

995

CURRENT ASSETS

Debtors

6

306,330

41,616

Cash in hand

1,264,846

122,011

1,571,176

163,627

CREDITORS

Amounts falling due within one year

7

1,163,011

33,637

NET CURRENT ASSETS

408,165

129,990

TOTAL ASSETS LESS CURRENT LIABILITIES

409,349

130,985

CREDITORS

Amounts falling due after more than one year

8

20,500

26,000

NET ASSETS

388,849

104,985

CAPITAL AND RESERVES

Called up share capital

1,327

1,047

Share premium

1,818,798

871,108

Retained earnings

(1,431,276

)

(767,170

)

388,849

104,985

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

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

The financial statements were approved by the Board of Directors and authorised for issue on 28 July 2022 and were signed on its behalf by:

N G Grime - Director

N Badenoch - Director

B Harold - Director

1.	STATUTORY INFORMATION

Meet Genie Limited 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 presentation currency of the financial statements is the Pound Sterling (£).

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Computer software is being amortised evenly over its estimated useful life of one years.

Tangible fixed assets

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

Plant and machinery etc

-

33% on cost

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

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.

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 7 (2020 - 5 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 January 2021

and 31 December 2021

1,000

AMORTISATION

At 1 January 2021

and 31 December 2021

1,000

NET BOOK VALUE

At 31 December 2021

-

At 31 December 2020

-

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2021

1,499

Additions

1,041

At 31 December 2021

2,540

DEPRECIATION

At 1 January 2021

504

Charge for year

852

At 31 December 2021

1,356

NET BOOK VALUE

At 31 December 2021

1,184

At 31 December 2020

995

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.21

31.12.20

£

£

Trade debtors

248,320

15,416

Other debtors

58,010

26,200

306,330

41,616

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.21

31.12.20

£

£

Bank loans and overdrafts

6,000

4,000

Trade creditors

132,603

4,630

Taxation and social security

47,519

11,336

Other creditors

976,889

13,671

1,163,011

33,637

Included in creditors is an amount of £918,250 received by the company in advance of shares allotted on 18 January 2022.

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.21

31.12.20

£

£

Bank loans

20,500

26,000

9.	RELATED PARTY DISCLOSURES

Included in consultancy is £7,500 payable to one of the directors.

10.	SHARE-BASED PAYMENT TRANSACTIONS

The company operates an EMI Share Option Scheme. On 23 April 2021 options were granted over 2,190 shares with an exercise price of £8.46 per share. At 31 December 2021, options over 7,128 shares were outstanding at an average price of £2.99. No adjustment has been made to profit in respect of these options