Amee Ltd - Filleted accounts

Registered number

06630234

Amee Ltd

Filleted Accounts

31 December 2020

Amee Ltd
Registered number:		06630234
Statement of Financial Position
as at 31 December 2020

Notes			2020			2019
£				£
Current assets
Debtors	3	321,514			88,275
Cash at bank and in hand		101,210			83,778
		422,724			172,053

Creditors: amounts falling due within one year	4	(61,000)			(29,256)

Net current assets			361,724			142,797

Net assets			361,724			142,797

Capital and reserves
Called up share capital			100			100
Capital Contribution Reserve			6,521,547			6,498,308
Profit and loss account			(6,159,923)			(6,355,611)

Shareholders' funds			361,724			142,797

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The income statement has not been delivered to the Registrar of Companies.





K Choe
Director
Approved by the board on 2 July 2021

Amee Ltd
Notes to the Accounts
for the year ended 31 December 2020


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	The presentation currency of the financial statements is the Pound Sterling (£).

	Significant judgements and estimates
	There are no significant judgements or estimates applied to the numbers contained within these financial statements.

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Taxation
	Taxation for the year comprises current 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 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 statement of financial position date. The tax credit disclosed in the income statement represents the surrender of corporation tax losses for research and development tax credits.

	Going concern
	The financial statements have been prepared on the going concern basis. The company has made a profit during the year and has sufficient resources available to meet its obligations, if and when, they become due.The directors have considered the impact of the Covid-19 pandemic on the business and consider that this will not prevent the business from trading profitably in the future. On this basis, the directors are therefore of the the opinion that they should continue to adopt the going concern basis of accounting in preparing the annual financial statements.

	Cash and cash equivalents
	Cash and cash equivalents comprise cash on hand and demand deposits and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk to changes in value.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Financial Instruments
	The Company has chosen to adopt the Sections 11 and 12 of FRS 102 in respect of financial instruments. (i) Financial assets Basic financial assets, including trade and other debtors, cash and bank balances and investments in commercial paper, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method. At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the Income Statement.
	If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in the Income Statement.
	Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in, the Income Statement, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment. Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.
	(ii) Financial liabilities Basic financial liabilities, including trade and other creditors, loans from fellow Group companies that are classified as debt, 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. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Creditors are classified as current liabilities if payment is due within one year. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

2	Employees	2020		2019
Number			Number

	Average number of persons employed by the company	0		0


3	Debtors	2020		2019
£			£

	Trade debtors	210,000		-
	Amounts owed by group undertakings	111,514		88,275
		321,514		88,275


4	Creditors: amounts falling due within one year	2020		2019
£			£

	Taxation and social security costs	61,000		13,006
	Other creditors	-		16,250
		61,000		29,256


5	Capital Contribution Reserve	2020		2019
£			£

	At 1 January 2020	6,498,308		6,498,308
	Additional Capital Contribution	23,239		-

	At 31 December 2020	6,521,547		6,498,308


6	Related party transactions

	The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with other group companies .


7	Controlling party

	The ultimate controlling party is Predictx Ltd (formerly Pi Benchmark Limited), a company incorporated in England & Wales.


8	Other information

	Amee Ltd is a private company limited by shares and incorporated in England. Its registered office is:
	7th Floor
	52 Grosvenor Gardens
	London
	SW1W 0AU

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