Amee Ltd - Accounts to registrar (filleted) - small 18.2
Amee Ltd - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2017 |
FOR |
AMEE LTD |
AMEE LTD (REGISTERED NUMBER: 06630234) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2017 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 3 |
AMEE LTD |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2017 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Stapleton House |
Block A, 2nd Floor |
110 Clifton Street |
London |
EC2A 4HT |
AMEE LTD (REGISTERED NUMBER: 06630234) |
STATEMENT OF FINANCIAL POSITION |
31 DECEMBER 2017 |
31.12.17 | 31.12.16 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Capital contribution |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
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. |
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 on by: |
AMEE LTD (REGISTERED NUMBER: 06630234) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2017 |
1. | STATUTORY INFORMATION |
Amee Ltd is a |
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. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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, excluding discounts, rebates, |
value added tax and other sales taxes. |
Tangible fixed assets |
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment |
losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write |
off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
Plant and machinery - 33.33% on straight line |
AMEE LTD (REGISTERED NUMBER: 06630234) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2017 |
3. | ACCOUNTING POLICIES - continued |
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. |
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 that have been enacted or |
substantively enacted by the statement of financial position date |
Research and development |
Revenue expenditure on research and development is written off in the year in which it is incurred. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of |
exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the |
operating result. |
AMEE LTD (REGISTERED NUMBER: 06630234) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2017 |
3. | ACCOUNTING POLICIES - continued |
Going concern |
The financial statements have been prepared on the going concern basis. The company has incurred losses during |
the year and the directors are aware that the statement of financial position reflects net liabilities. The directors, |
however, have a reasonable expectation that together with cash balances at hand and the ongoing financial |
support of the parent company, the company should have sufficient resources to be able to meet its future |
obligations, if and when, they become due. On this basis, they are of the opinion that they should continue to |
adopt the going concern basis 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. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2016 - NIL). |
5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
£ |
COST |
At 1 January 2017 |
and 31 December 2017 |
DEPRECIATION |
At 1 January 2017 |
Charge for year |
At 31 December 2017 |
NET BOOK VALUE |
At 31 December 2017 |
At 31 December 2016 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.17 | 31.12.16 |
£ | £ |
Trade debtors |
Other debtors |
AMEE LTD (REGISTERED NUMBER: 06630234) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2017 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.17 | 31.12.16 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.12.17 | 31.12.16 |
value: | £ | £ |
Ordinary | £0.0002 | 2 | 2 |
Ordinary B | £0.0001 | - | - |
2 | 2 |
Ordinary Shareholders have full voting rights and the right to attend meetings. They are entitled to dividend |
payments or any other distribution and is entitled to participate in a distribution arising from a winding up of the |
company. |
Ordinary B Shareholders have no voting rights and no right to attend meetings; however they rank pari passu in |
all other respects to Ordinary Shareholders. |
9. | RELATED PARTY DISCLOSURES |
During the year, companies under common directorship settled expenses totalling £nil on behalf of the company |
and received advances of £90,901. |
At the date of the financial statements, the company owed £217,449 (2016 - £126,548) to companies under |
common directorship. The loans are interest free and repayable on demand. |
10. | ULTIMATE CONTROLLING PARTY |
PI Limited is the immediate controlling parent, a company incorporated in England and Wales (registered |
number 01728605) whose registered office is at 7th Floor, 52 Grosvenor Gardens, London, SW1W 0AU. The |
ultimate parent company is PI Benchmark Ltd, a company incorporated in England and Wales whose registered |
office is situated at 7th Floor, 52 Grosvenor Gardens, London, SW1W 0AU. The ultimate controlling party is A |
N Shah. |