2MEE LTD - Period Ending 2016-04-30

Registration number: 08053683

2MEE LTD

Unaudited Abbreviated Accounts

for the Year Ended 31 January 2016
 

Ian Walker & Co
Chartered Accountants
Heworth House
Melrosegate
Heworth
York
YO31 0RP

2MEE LTD
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 4

2MEE LTD
(Registration number: 08053683)
Abbreviated Balance Sheet at 31 January 2016

		Note			2016 £			2015 £
Fixed assets
Intangible fixed assets		2			48,844			15,735
Tangible fixed assets		2			3,960			568
Investments					100			100
					52,904			16,403
Current assets
Debtors					296,069			52,109
Cash at bank and in hand					50,726			8,106
					346,795			60,215
Creditors: Amounts falling due within one year					(121,845)			(86,443)
Net current assets/(liabilities)					224,950			(26,228)
Net assets/(liabilities)					277,854			(9,825)
Capital and reserves
Called up share capital		3			2,327			1,551
Share premium account					1,771,742			996,518
Profit and loss account					(1,496,215)			(1,007,894)
Shareholders' funds/(deficit)					277,854			(9,825)

For the year ending 31 January 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 21 March 2016 and signed on its behalf by:

.........................................
J P Riley
Director

The notes on pages 2 to 4 form an integral part of these financial statements.
Page 1

2MEE LTD
Notes to the Abbreviated Accounts for the Year Ended 31 January 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Going concern

The financial statements have been prepared on a going concern basis following receipt of the guarenteed continued support of the Directors and its investors.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Amortisation method and rate
Patents	over 20 years straight line

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
computer equipment	33.33% straight line
fixtures and fittings	15.00% reducing balance

Research and development

Research and development expenditure is written off as incurred.

Fixed asset investments

Shares acquired in its subsidiary company are shown at their cost of acquisition

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed by the balance sheet date. Deferred tax is not recognised when assets are revalued unless, by the balance sheet date, the company has entered into a binding agreement to sell the assets and recognised the gains or losses expected to arise on sale.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

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2MEE LTD
Notes to the Abbreviated Accounts for the Year Ended 31 January 2016
......... continued

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2	Fixed assets

		Intangible assets £			Tangible assets £			Investments £			Total £
Cost
At 1 February 2015		16,884			1,963			100			18,947
Additions		35,740			5,784			-			41,524
At 31 January 2016		52,624			7,747			100			60,471
Depreciation
At 1 February 2015		1,149			1,395			-			2,544
Charge for the year		2,631			2,392			-			5,023
At 31 January 2016		3,780			3,787			-			7,567
Net book value
At 31 January 2016		48,844			3,960			100			52,904
At 31 January 2015		15,735			568			100			16,403

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking	Country of incorporation	Holding	Proportion of voting rights and shares held	Principal activity
Subsidiary undertakings
2Me Smarttunes Limited	Scotland	ordinary	100%	Sound recording and music publishing activities

The financial period end of 2Me Smarttunes Limited is 31 May 2015. The profit for the financial period of 2Me Smarttunes Limited was £nil and the aggregate amount of capital and reserves at the end of the period was £100.

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2MEE LTD
Notes to the Abbreviated Accounts for the Year Ended 31 January 2016
......... continued

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary shares of £0.01 each		232,700			2,327			155,100			1,551

New shares allotted

During the year 77,600 Ordinary having an aggregate nominal value of £776 were allotted for an aggregate consideration of £776.

4

Control

The company is controlled by In the opinion of the directors there is no controlling party.

Page 4