2MEE LTD - Period Ending 2018-10-31
2MEE LTD - Period Ending 2018-10-31
Registration number:
2MEE LTD
for the Period from 1 December 2017 to 31 October 2018
Chartered Accountants
Heworth House
Melrosegate
Heworth
York
YO31 0RP
2MEE LTD
Contents
Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
2MEE LTD
Company Information
Directors |
Mr John Carroll Mr Christopher George Knight Mr Ian Russell Mr David Michael Soppelsa Mr James Riley |
Registered office |
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Accountants |
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Page 1 |
2MEE LTD
(Registration number: 08053683)
Balance Sheet as at 31 October 2018
Note |
2018 |
2017 |
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Fixed assets |
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Intangible assets |
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Tangible assets |
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Investments |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Share premium reserve |
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Profit and loss account |
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Total equity |
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Page 2 |
2MEE LTD
(Registration number: 08053683)
Balance Sheet as at 31 October 2018
For the financial period ending 31 October 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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Mr James Riley
Director
Page 3 |
2MEE LTD
Notes to the Financial Statements for the Period from 1 December 2017 to 31 October 2018
General information |
The company is a private company limited by share capital incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Computer equipment |
33.33% straight line |
Fixtures and fittings |
15.00% reducing balance |
Business combinations
Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.
Page 4 |
2MEE LTD
Notes to the Financial Statements for the Period from 1 December 2017 to 31 October 2018
Intangible assets
Separately acquired trademarks and licences are shown at historical cost.
Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.
Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
Asset class |
Amortisation method and rate |
Patents |
over 20 years straight line |
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call 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 of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Page 5 |
2MEE LTD
Notes to the Financial Statements for the Period from 1 December 2017 to 31 October 2018
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Staff numbers |
The average number of persons employed by the company (including directors) during the period, was
Page 6 |
2MEE LTD
Notes to the Financial Statements for the Period from 1 December 2017 to 31 October 2018
Intangible assets |
Trademarks, patents and licenses |
Total |
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Cost or valuation |
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At 1 December 2017 |
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Additions acquired separately |
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At 31 October 2018 |
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Amortisation |
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At 1 December 2017 |
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Amortisation charge |
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At 31 October 2018 |
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Carrying amount |
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At 31 October 2018 |
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At 30 November 2017 |
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Tangible assets |
Furniture, fittings and equipment |
Total |
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Cost or valuation |
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At 1 December 2017 |
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Additions |
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At 31 October 2018 |
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Depreciation |
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At 1 December 2017 |
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Charge for the year |
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At 31 October 2018 |
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Carrying amount |
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At 31 October 2018 |
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At 30 November 2017 |
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Page 7 |
2MEE LTD
Notes to the Financial Statements for the Period from 1 December 2017 to 31 October 2018
Investments |
2018 |
2017 |
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Investments in subsidiaries |
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Subsidiaries |
£ |
Cost or valuation |
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At 1 December 2017 |
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Provision |
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Carrying amount |
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At 31 October 2018 |
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At 30 November 2017 |
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Debtors |
2018 |
2017 |
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Other debtors |
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Total current trade and other debtors |
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Creditors |
Note |
2018 |
2017 |
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Due within one year |
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Trade creditors |
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- |
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Taxation and social security |
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Other creditors |
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Page 8 |