2024-02-012024-12-312024-12-31false080536832MEE 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2MEE LTD

Registered Number
08053683
(England and Wales)

Unaudited Financial Statements for the Period ended
31 December 2024

2MEE LTD
Company Information
for the period from 1 February 2024 to 31 December 2024

Directors

RILEY, James Patrick
RUSSELL, Ian
SMILLIE, Brian Mitchell

Registered Address

Unit 3, Westhouse Business Centre Wheldrake Lane
Elvington
York
YO41 4AZ

Registered Number

08053683 (England and Wales)
2MEE LTD
Balance Sheet as at
31 December 2024

Notes

31 Dec 2024

31 Jan 2024

£

£

£

£

Fixed assets
Intangible assets3273,240276,862
Tangible assets416,616725
289,856277,587
Current assets
Debtors5343,140279,634
Cash at bank and on hand137-
343,277279,634
Creditors amounts falling due within one year6(547,507)(420,907)
Net current assets (liabilities)(204,230)(141,273)
Total assets less current liabilities85,626136,314
Creditors amounts falling due after one year7(1,259)(3,733)
Net assets84,367132,581
Capital and reserves
Called up share capital13,37213,372
Share premium5,125,3154,945,315
Profit and loss account(5,054,320)(4,826,106)
Shareholders' funds84,367132,581
The financial statements were approved and authorised for issue by the Board of Directors on 2 April 2025, and are signed on its behalf by:
RILEY, James Patrick
Director
RUSSELL, Ian
Director
SMILLIE, Brian Mitchell
Director

Registered Company No. 08053683
2MEE LTD
Notes to the Financial Statements
for the period ended 31 December 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Operating leases
Where, substantially, all the risks and rewards of ownership of the asset do not transfer from the lessor to the company, the lease is treated as an operating lease. Rentals payable under operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.
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 - Patents Amortisation method and rate - over 20 years straight line
Goodwill
Goodwill arising on an acquisition of a business is carried at cost less accumulated impairment losses, if any. Goodwill is amortised over its expected useful life which is estimated to be ten years. Goodwill is assessed for impairment when there are indicators of impairment and any impairment is charged to the income statement. No reversals of impairment are recognised.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)Straight line (years)
Fixtures and fittings15-
Office Equipment-3
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
2.Average number of employees

20242024
Average number of employees during the year58
3.Intangible assets

Other

Total

££
Cost or valuation
At 01 February 24391,033391,033
Additions16,76816,768
At 31 December 24407,801407,801
Amortisation and impairment
At 01 February 24114,171114,171
Charge for year20,39020,390
At 31 December 24134,561134,561
Net book value
At 31 December 24273,240273,240
At 31 January 24276,862276,862
4.Tangible fixed assets

Fixtures & fittings

Office Equipment

Total

£££
Cost or valuation
At 01 February 2499026,52327,513
Additions-24,00024,000
At 31 December 2499050,52351,513
Depreciation and impairment
At 01 February 2426526,52326,788
Charge for year1098,0008,109
At 31 December 2437434,52334,897
Net book value
At 31 December 2461616,00016,616
At 31 January 24725-725
5.Debtors: amounts due within one year

2024

2024

££
Trade debtors / trade receivables203,000175,420
Other debtors140,140102,663
Prepayments and accrued income-1,551
Total343,140279,634
6.Creditors: amounts due within one year

2024

2024

££
Trade creditors / trade payables265,168198,104
Bank borrowings and overdrafts25,139-
Amounts owed to related parties114,08184,129
Taxation and social security32,22834,706
Debentures in issue89,00079,000
Accrued liabilities and deferred income21,89124,968
Total547,507420,907
7.Creditors: amounts due after one year

2024

2024

££
Bank borrowings and overdrafts1,2593,733
Total1,2593,733