Company registration number 12618115 (England and Wales)
Meeow Ltd
Unaudited Financial Statements
For The Year Ended 31 January 2024
Pages For Filing With Registrar
MEEOW LTD
Meeow Ltd
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 7
MEEOW LTD
Meeow Ltd
BALANCE SHEET
AS AT 31 JANUARY 2024
31 January 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
29,416
29,416
Tangible assets
4
1,977
3,356
31,393
32,772
Current assets
Debtors
5
53
26,167
Cash at bank and in hand
3,848
11,247
3,901
37,414
Creditors: amounts falling due within one year
6
(17,642)
(14,686)
Net current (liabilities)/assets
(13,741)
22,728
Net assets
17,652
55,500
Capital and reserves
Called up share capital
7
144
135
Share premium account
556,419
476,430
Profit and loss reserves
(538,911)
(421,065)
Total equity
17,652
55,500

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 30 October 2024 and are signed on its behalf by:
Mr C Rabbitt
Director
Company Registration No. 12618115
MEEOW LTD
Meeow Ltd
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
- 2 -
1
Accounting policies
Company information

Meeow Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 12 King Street, Leeds, England, LS1 2HL.

1.1
Accounting convention

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 amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

Atruet 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.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

1.4
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

 

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Software
No amortisation
MEEOW LTD
Meeow Ltd
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
1
Accounting policies
(Continued)
- 3 -
1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computers
3 years straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

MEEOW LTD
Meeow Ltd
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
1
Accounting policies
(Continued)
- 4 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

 

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. 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 profit or loss.

 

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 profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

MEEOW LTD
Meeow Ltd
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
1
Accounting policies
(Continued)
- 5 -
1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
3
4
3
Intangible fixed assets
Other
£
Cost
At 1 February 2023 and 31 January 2024
29,416
Amortisation and impairment
At 1 February 2023 and 31 January 2024
-
0
Carrying amount
At 31 January 2024
29,416
At 31 January 2023
29,416
MEEOW LTD
Meeow Ltd
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 6 -
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 February 2023
5,886
Additions
708
Disposals
(1,950)
At 31 January 2024
4,644
Depreciation and impairment
At 1 February 2023
2,530
Depreciation charged in the year
1,979
Eliminated in respect of disposals
(1,842)
At 31 January 2024
2,667
Carrying amount
At 31 January 2024
1,977
At 31 January 2023
3,356
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
53
26,167
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
6,285
7,200
Taxation and social security
-
0
816
Other creditors
11,357
6,670
17,642
14,686
MEEOW LTD
Meeow Ltd
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 7 -
7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of 0.1p each
100,000
100,000
100
100
Ordinary A shares of 0.1p each
5,436
1,570
5
2
Ordinary B shares of 0.1p each
39,120
33,144
39
33
144,556
134,714
144
135

During the year 3,866 Ordinary A shares and 5,976 Ordinary B shares were issued at £0.001 each giving an aggregate nominal value of £3.8 and £5.9 respectively.

 

Following this share issue, the share premium account has a balance of £556,419 (2023 - £476,430).

8
Directors' transactions

The overdrawn directors' loans have been repaid within 9 months of the balance sheet date.

Description
% Rate
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
Simon Glenn
-
14,720
2,750
(19,703)
(2,233)
Christopher Rabbitt
-
8,719
5,825
(16,777)
(2,233)
23,439
8,575
(36,480)
(4,466)
2024-01-312023-02-01false30 October 2024CCH SoftwareCCH Accounts Production 2024.210No description of principal activityMr S A GlennMr C Rabbittfalsefalse126181152023-02-012024-01-31126181152024-01-31126181152023-01-3112618115core:IntangibleAssetsOtherThanGoodwill2024-01-3112618115core:IntangibleAssetsOtherThanGoodwill2023-01-3112618115core:OtherPropertyPlantEquipment2024-01-3112618115core:OtherPropertyPlantEquipment2023-01-3112618115core:CurrentFinancialInstrumentscore:WithinOneYear2024-01-3112618115core:CurrentFinancialInstrumentscore:WithinOneYear2023-01-3112618115core:CurrentFinancialInstruments2024-01-3112618115core:CurrentFinancialInstruments2023-01-3112618115core:ShareCapital2024-01-3112618115core:ShareCapital2023-01-3112618115core:SharePremium2024-01-3112618115core:SharePremium2023-01-3112618115core:RetainedEarningsAccumulatedLosses2024-01-3112618115core:RetainedEarningsAccumulatedLosses2023-01-3112618115core:ShareCapitalOrdinaryShares2024-01-3112618115core:ShareCapitalOrdinaryShares2023-01-3112618115bus:Director22023-02-012024-01-3112618115core:IntangibleAssetsOtherThanGoodwill2023-02-012024-01-3112618115core:ComputerSoftware2023-02-012024-01-3112618115core:ComputerEquipment2023-02-012024-01-31126181152022-02-012023-01-3112618115core:IntangibleAssetsOtherThanGoodwill2023-01-3112618115core:OtherPropertyPlantEquipment2023-01-3112618115core:OtherPropertyPlantEquipment2023-02-012024-01-3112618115core:WithinOneYear2024-01-3112618115core:WithinOneYear2023-01-3112618115bus:PrivateLimitedCompanyLtd2023-02-012024-01-3112618115bus:SmallCompaniesRegimeForAccounts2023-02-012024-01-3112618115bus:FRS1022023-02-012024-01-3112618115bus:AuditExemptWithAccountantsReport2023-02-012024-01-3112618115bus:Director12023-02-012024-01-3112618115bus:FullAccounts2023-02-012024-01-31xbrli:purexbrli:sharesiso4217:GBP