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Company registration number: 05501765
Messagemail Limited
Unaudited filleted financial statements
31 October 2023
Messagemail Limited
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
Messagemail Limited
Directors and other information
Director S J Curran
Secretary S J Curran
Company number 05501765
Registered office 78 York Street
Marylebone
London
W1H 1DP
Messagemail Limited
Statement of financial position
31 October 2023
2023 2022
Note £ £ £ £
Fixed assets
Intangible assets 5 - -
Tangible assets 6 2,772 5,543
_______ _______
2,772 5,543
Current assets
Debtors 7 277,721 293,843
Cash at bank and in hand 54,514 65,909
_______ _______
332,235 359,752
Creditors: amounts falling due
within one year 8 ( 56,022) ( 67,456)
_______ _______
Net current assets 276,213 292,296
_______ _______
Total assets less current liabilities 278,985 297,839
Creditors: amounts falling due
after more than one year 9 ( 46,022) ( 50,628)
_______ _______
Net assets 232,963 247,211
_______ _______
Capital and reserves
Called up share capital 1 1
Profit and loss account 232,962 247,210
_______ _______
Shareholders funds 232,963 247,211
_______ _______
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- 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;
-The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 24 July 2024 , and are signed on behalf of the board by:
S J Curran
Director
Company registration number: 05501765
Messagemail Limited
Notes to the financial statements
Year ended 31 October 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 78 York Street, Marylebone, London, W1H 1DP.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for services rendered, net of discounts and Value Added Tax.
Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
No provision for deferred taxation has been provided for in the financial statements, due to the amount not being material.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill - Straight line over 15 years
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Short leasehold property - Straight line over the life of the lease
Plant and machinery - 25 % straight line
Fittings fixtures and equipment - 20 % straight line
Motor vehicles - 20 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 16 (2022: 16 ).
5. Intangible assets
Goodwill Total
£ £
Cost
At 1 November 2022 and 31 October 2023 59,333 59,333
_______ _______
Amortisation
At 1 November 2022 and 31 October 2023 59,333 59,333
_______ _______
Carrying amount
At 31 October 2023 - -
_______ _______
At 31 October 2022 - -
_______ _______
6. Tangible assets
Short leasehold property Plant and machinery Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £ £
Cost
At 1 November 2022 41,024 53,149 25,031 15,265 134,469
Disposals - - - ( 15,265) ( 15,265)
_______ _______ _______ _______ _______
At 31 October 2023 41,024 53,149 25,031 - 119,204
At 1 November 2022
_______ _______ _______ _______ _______
Depreciation
At 1 November 2022 35,481 53,149 25,031 15,265 128,926
Charge for the year 2,771 - - - 2,771
Disposals - - - ( 15,265) ( 15,265)
_______ _______ _______ _______ _______
At 31 October 2023 38,252 53,149 25,031 - 116,432
_______ _______ _______ _______ _______
Carrying amount
At 31 October 2023 2,772 - - - 2,772
_______ _______ _______ _______ _______
At 31 October 2022 5,543 - - - 5,543
_______ _______ _______ _______ _______
7. Debtors
2023 2022
£ £
Trade debtors 24,465 33,162
Other debtors 253,256 260,681
_______ _______
277,721 293,843
_______ _______
8. Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors 10,264 34,017
Corporation tax 3,724 16,797
Social security and other taxes 35,988 9,743
Other creditors 6,046 6,899
_______ _______
56,022 67,456
_______ _______
9. Creditors: amounts falling due after more than one year
2023 2022
£ £
Bank loans and overdrafts 46,022 50,628
_______ _______
10. Operating leases
The company as lessee
The total future minimum lease payments under non-cancellable operating leases are as follows:
£ £
Not later than 1 year 16,500 16,500
Later than 1 year and not later than 5 years 11,000 27,500
_______ _______
27,500 44,000
_______ _______
11. Directors advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2023
Balance brought forward Advances /(credits) to the director Balance o/standing
£ £ £
S J Curran - 35,459 35,459
_______ _______ _______
2022
Balance brought forward Advances /(credits) to the director Balance o/standing
£ £ £
S J Curran - - -
_______ _______ _______