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REGISTERED NUMBER: 08395895 (England and Wales)












MAILSPHERE LIMITED

Unaudited Financial Statements for the Year Ended 28 February 2024






MAILSPHERE LIMITED (REGISTERED NUMBER: 08395895)






Contents of the Financial Statements
for the Year Ended 28 February 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


MAILSPHERE LIMITED

Company Information
for the Year Ended 28 February 2024







DIRECTORS: T G Roberts
L H Burgess
P T C Groucutt
O G J Mather





REGISTERED OFFICE: 1 Bridges Court
London
SW11 3BB





REGISTERED NUMBER: 08395895 (England and Wales)





ACCOUNTANTS: Cottrill Mason Ltd
13 Vansittart Estate
Windsor
Berkshire
SL4 1SE

MAILSPHERE LIMITED (REGISTERED NUMBER: 08395895)

Statement of Financial Position
28 February 2024

28.2.24 28.2.23
Notes £    £   
CURRENT ASSETS
Debtors 5 11,243 15,072
Cash at bank 7,333 28,444
18,576 43,516
CREDITORS
Amounts falling due within one year 6 1,480,556 1,134,264
NET CURRENT LIABILITIES (1,461,980 ) (1,090,748 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(1,461,980

)

(1,090,748

)

CAPITAL AND RESERVES
Called up share capital 241 241
Share premium 347,865 347,865
Retained earnings (1,810,086 ) (1,438,854 )
SHAREHOLDERS' FUNDS (1,461,980 ) (1,090,748 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 November 2024 and were signed on its behalf by:





T G Roberts - Director


MAILSPHERE LIMITED (REGISTERED NUMBER: 08395895)

Notes to the Financial Statements
for the Year Ended 28 February 2024

1. STATUTORY INFORMATION

Mailsphere 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern basis

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 in preparing these financial statements.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2023
and 28 February 2024 7,750
DEPRECIATION
At 1 March 2023
and 28 February 2024 7,750
NET BOOK VALUE
At 28 February 2024 -

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.24 28.2.23
£    £   
Trade debtors 595 991
Other debtors 10,648 14,081
11,243 15,072

MAILSPHERE LIMITED (REGISTERED NUMBER: 08395895)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.24 28.2.23
£    £   
Trade creditors 70,413 67,103
Amounts owed to associates 1,440,491 1,081,715
Taxation and social security (39,348 ) (19,054 )
Other creditors 9,000 4,500
1,480,556 1,134,264

7. RELATED PARTY DISCLOSURES

During the year the company provided services to Databarracks amounting to £16,385 [2023: £17,559], purchased services from Databarracks amounting to £NIL [2023: £NIL] and at the year end had an intercompany loan balance of from Databarracks of £356,486 [2023: £303,036].

At the balance sheet date £1,440,491 [2023: £1,081,715] was owed to Databarracks Limited.

Databarracks is a company under the joint control of Mr T Roberts, Mr P Groucutt and Mr O Mather.

8. ULTIMATE CONTROLLING PARTY

The company was under the joint control of Mr T Roberts, Mr P Groucutt and Mr O Mather throughout the whole year under review.