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Registration number: 11588094

Investor Meet Company Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 September 2021

 

Investor Meet Company Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Investor Meet Company Limited

Company Information

Directors

Mr Marc Simon Downes

Mr Paul John Brotherhood

Registered office

Hygeia Building
Rear Ground Floor
66-68 College Road
Harrow
Middlesex
HA1 1BE

Accountants

Aventus Partners Limited
Hygeia Building
Ground Floor
66-68 College Road
Harrow
Middlesex
HA1 1BE

 

Investor Meet Company Limited

(Registration number: 11588094)
Balance Sheet as at 30 September 2021

Note

2021
£

2020
£

Fixed assets

 

Intangible assets

4

258,851

174,837

Tangible assets

5

5,116

-

 

263,967

174,837

Current assets

 

Debtors

6

70,798

10,644

Cash at bank and in hand

 

184,256

54,264

 

255,054

64,908

Creditors: Amounts falling due within one year

7

(345,835)

(215,900)

Net current liabilities

 

(90,781)

(150,992)

Total assets less current liabilities

 

173,186

23,845

Creditors: Amounts falling due after more than one year

7

(38,333)

(50,000)

Net assets/(liabilities)

 

134,853

(26,155)

Capital and reserves

 

Called up share capital

9

100

100

Profit and loss account

134,753

(26,255)

Shareholders' funds/(deficit)

 

134,853

(26,155)

For the financial year ending 30 September 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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 and delivered 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.

These financial statements were approved and authorised for issue by the Board on 12 September 2022 and signed on its behalf by:
 

 

Investor Meet Company Limited

(Registration number: 11588094)
Balance Sheet as at 30 September 2021 (continued)

.........................................

Mr Marc Simon Downes
Director

 

Investor Meet Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2021

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Hygeia Building
Rear Ground Floor
66-68 College Road
Harrow
Middlesex
HA1 1BE
United Kingdom

These financial statements were authorised for issue by the Board on 12 September 2022.

2

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet 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.

 

Investor Meet Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2021 (continued)

2

Accounting policies (continued)

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

Office equipment

20% on straignt line

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

Development costs

20% on cost

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Investor Meet Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2021 (continued)

2

Accounting policies (continued)

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.

3

Staff numbers

The average monthly number of persons employed by the company (including directors) during the year, was 2 (2020: 1).

4

Intangible assets

Note

Development costs
 £

Cost or valuation

At 1 October 2020 (As restated)

174,837

Additions internally developed

 

84,014

At 30 September 2021

 

258,851

Carrying amount

At 30 September 2021

 

258,851

At 30 September 2020

 

174,837

 

Investor Meet Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2021 (continued)

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

Additions

6,395

6,395

At 30 September 2021

6,395

6,395

Depreciation

Charge for the year

1,279

1,279

At 30 September 2021

1,279

1,279

Carrying amount

At 30 September 2021

5,116

5,116

6

Debtors

2021
£

2020
£

Trade debtors

35,007

9,580

Other debtors

3,400

1,064

Accrued income

27,727

-

Prepayments

4,664

-

Total current trade and other debtors

70,798

10,644

 

Investor Meet Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2021 (continued)

7

Creditors

Creditors: amounts falling due within one year

Note

2021
£

2020
£

Due within one year

 

Bank loans and overdrafts

8

10,000

-

Taxation and social security

 

17,471

-

Other creditors

 

21,008

-

Accrued expenses

 

12,250

3,000

Deferred income

 

72,206

-

Director's current account

 

212,900

212,900

 

345,835

215,900

Due after one year

 

Loans and borrowings

8

38,333

50,000

8

Loans and borrowings

2021
£

2020
£

Non-current loans and borrowings

Bank borrowings

38,333

50,000



Bank borrowings
The Bounce Back Loan is denominated in Britsh Pound Sterling with a nominal interest rate of 2.5%, and the final instalment is due July 2026. The carrying amount at year end is £48,333.33 (2020: £50,000l).

 

 

Investor Meet Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2021 (continued)

8

Loans and borrowings (continued)

2021
£

2020
£

Current loans and borrowings

Bank borrowings

10,000

-

9

Share capital

Allotted, called up and fully paid shares

 

2021

2020

 

No.

£

No.

£

Ordinary shares of £0.01 (2020 - £1) each

10,000

100

100

100

         

10

Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

2021
£

2020
£

Remuneration

48,212

-

11

Ultimate controlling party

The ultimate controlling party is the director, Mr Marc Simon Downes.