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REGISTERED NUMBER: 09592919 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

FOR

MEET AND ENGAGE LTD

MEET AND ENGAGE LTD (REGISTERED NUMBER: 09592919)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 December 2021










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


MEET AND ENGAGE LTD

COMPANY INFORMATION
for the year ended 31 December 2021







DIRECTORS: D W Clancy
A Hackett
G M Shroll





REGISTERED OFFICE: Unit 2
Charnwood Edge Business Park
Syston Road
Leicester
LE7 4UZ





REGISTERED NUMBER: 09592919 (England and Wales)





ACCOUNTANTS: Magma Audit LLP
Unit 2
Charnwood Edge Business Park
Syston Road
Leicester
LE7 4UZ

MEET AND ENGAGE LTD (REGISTERED NUMBER: 09592919)

BALANCE SHEET
31 December 2021

2021 2020
Notes £    £   
FIXED ASSETS
Tangible assets 4 7,130 5,849

CURRENT ASSETS
Debtors 5 343,678 595,829
Cash at bank 614,185 213,528
957,863 809,357
CREDITORS
Amounts falling due within one year 6 (1,308,948 ) (1,116,386 )
NET CURRENT LIABILITIES (351,085 ) (307,029 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(343,955

)

(301,180

)

CAPITAL AND RESERVES
Called up share capital 1,633 1,633
Share premium 480,787 480,787
Retained earnings (826,375 ) (783,600 )
(343,955 ) (301,180 )

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 August 2022 and were signed on its behalf by:




A Hackett - Director



G M Shroll - Director


MEET AND ENGAGE LTD (REGISTERED NUMBER: 09592919)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 December 2021


1. STATUTORY INFORMATION

Meet and Engage Ltd is a private company, limited by shares, incorporated in England and Wales. The registered office is Unit 2 Charnwood Edge Business Park, Syston Road, Cossington, Leicester, LE7 4UZ.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling , which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below

Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover
Revenue represents amounts receivable for services net of VAT and trade discounts split evenly over the length of the licence.

Tangible fixed assets
Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using either a straight line or reducing balance method, as indicated below.

Depreciation is provided on the following basis:

Fixtures, fittings & equipment- 20% straight line
Computer equipment - 33.33% straight line

The asset's residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


MEET AND ENGAGE LTD (REGISTERED NUMBER: 09592919)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2021


2. ACCOUNTING POLICIES - continued
Taxation
The tax expense for the year comprises current and deferred tax.

Tax is recognised in profit or loss except that a change attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:
- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Operating leases
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Leases that do not transfer all the risks and rewards of ownership are classified as operating leases. Payments 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.

Debtors
Basic financial assets, including trade and other debtors, 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, less any impairment.

Cash and cash equivalents
Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, 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. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2020 - 16 ) .

MEET AND ENGAGE LTD (REGISTERED NUMBER: 09592919)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2021


4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 January 2021 5,979 11,457 17,436
Additions - 4,321 4,321
At 31 December 2021 5,979 15,778 21,757
DEPRECIATION
At 1 January 2021 4,055 7,532 11,587
Charge for year 1,197 1,843 3,040
At 31 December 2021 5,252 9,375 14,627
NET BOOK VALUE
At 31 December 2021 727 6,403 7,130
At 31 December 2020 1,924 3,925 5,849

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade debtors 337,406 487,067
Corporation tax receivable - 107,906
Prepayments and accrued income 6,272 856
343,678 595,829

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade creditors 18,633 50,831
Social security and other taxes 178,477 153,489
Other creditors 4,169 2,606
Accruals and deferred income 1,107,669 909,460
1,308,948 1,116,386

Included in accruals and deferred income is a deferred income adjustment relating to licences of £1,073,837 (2020: £869,129).

7. POST BALANCE SHEET EVENTS

On 17 January 2022, it was resolved by the members that the share premium account of the company be cancelled in it's entirety and that the amount of the share premium account so cancelled be credited to the company's profit and loss reserves. Subsequent to the cancellation of the share premium account, the company sold all of it's intellectual property to its parent company Meet and Engage Services Ltd.