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REGISTERED NUMBER: 03771735 (England and Wales)





















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

MESSAGEMEDIA EUROPE LIMITED

MESSAGEMEDIA EUROPE LIMITED (REGISTERED NUMBER: 03771735)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


MESSAGEMEDIA EUROPE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: Mr Roshan Brice Saldanha





SECRETARY: Ms Darine Tabbara ep, Fayed





REGISTERED OFFICE: Unit 2.02, High Weald House
Glovers End
Bexhill on Sea
East Sussex
TN39 5ES





REGISTERED NUMBER: 03771735 (England and Wales)





AUDITORS: Acuity Professional Partnership LLP
Unit 2.02 High Weald House
Glovers End
Bexhill
East Sussex
TN39 5ES

MESSAGEMEDIA EUROPE LIMITED (REGISTERED NUMBER: 03771735)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 9,181 15,671
9,181 15,671

CURRENT ASSETS
Debtors 6 1,574,165 2,105,461
Cash at bank 495,006 574,193
2,069,171 2,679,654
CREDITORS
Amounts falling due within one year 7 1,553,054 2,309,435
NET CURRENT ASSETS 516,117 370,219
TOTAL ASSETS LESS CURRENT
LIABILITIES

525,298

385,890

CAPITAL AND RESERVES
Called up share capital 8 1,870,474 1,870,474
Retained earnings (1,345,176 ) (1,484,584 )
SHAREHOLDERS' FUNDS 525,298 385,890

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 director and authorised for issue on 10 September 2024 and were signed by:





Mr Roshan Brice Saldanha - Director


MESSAGEMEDIA EUROPE LIMITED (REGISTERED NUMBER: 03771735)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Messagemedia Europe Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of the Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

GOING CONCERN

The Company meets its day to day working capital requirements from its own financial resources and the financial support of the parent and fellow group undertakings. The director has received confirmation of continued financial support from the Company's parent and that, while repayable on demand, any amounts due to the parent and wider group will only be called to the extent that the Company's working capital and liquidity requirements permit.

The Director therefore believes it is appropriate to prepare the financial statements on a going concern basis on the basis of forecasts for the twelve months from approval of these financial statements and the continued support from the parent.

TURNOVER
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

INTANGIBLE ASSETS
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Amortisation is provided on the following basis:

Customer contracts 33.3% straight line

The assets' residual values, useful lives and amortisation 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.

MESSAGEMEDIA EUROPE LIMITED (REGISTERED NUMBER: 03771735)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

TANGIBLE FIXED ASSETS
Tangible fixed assets under the cost model 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 to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line and reducing balance method.

Depreciation is provided on the following basis:
Computer equipment33.3% straight line
Fixtures and fittings25% reducing balance


The assets' 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.

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

FOREIGN CURRENCIES
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

MESSAGEMEDIA EUROPE LIMITED (REGISTERED NUMBER: 03771735)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Computer
software
£   
Cost
At 1 January 2023
and 31 December 2023 30,000
Amortisation
At 1 January 2023
and 31 December 2023 30,000
Net book value
At 31 December 2023 -
At 31 December 2022 -

5. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
Cost
At 1 January 2023
and 31 December 2023 22,798 3,828 26,626
Depreciation
At 1 January 2023 8,549 2,406 10,955
Charge for year 5,700 790 6,490
At 31 December 2023 14,249 3,196 17,445
Net book value
At 31 December 2023 8,549 632 9,181
At 31 December 2022 14,249 1,422 15,671

MESSAGEMEDIA EUROPE LIMITED (REGISTERED NUMBER: 03771735)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 758,962 496,449
Amounts owed by participating interests 369,475 1,209,885
Other debtors 410 289
Deferred tax asset 445,318 342,524
Accrued income - 55,990
Prepayments - 324
1,574,165 2,105,461

Deferred tax asset
2023 2022
£    £   
Accelerated capital allowances (1,745 ) (2,974 )
Tax losses carried forward 447,063 345,498
445,318 342,524

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 25,770 11,183
Amounts owed to group undertakings 639,954 1,646,448
Tax - 200
VAT 186,101 140,323
Other creditors 68,802 66,261
Deferred income 49,627 43,121
Accrued expenses 582,800 401,899
1,553,054 2,309,435

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,870,474 ORDINARY £1 1,870,474 1,870,474

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Rachel Taylor FCA FMAAT (Senior Statutory Auditor)
for and on behalf of Acuity Professional Partnership LLP

MESSAGEMEDIA EUROPE LIMITED (REGISTERED NUMBER: 03771735)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


10. ULTIMATE CONTROLLING PARTY

At the balance sheet date the Company's immediate controlling undertaking was Message4u PTY Ltd and ultimate controlling undertaking was Sinch AB, a company registered in Sweden.

The registered address of Message4u PTY Ltd is L 24 367 Collins St Melbourne, VICTORIA, 3000 Australia and the address for Sinch AB is Lindhagensgatan 74, Van 7 112 18, Stockholm, Sweden.