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Mailsports International Limited

Registered Number
07125886
(England and Wales)

Unaudited Financial Statements for the Year ended
30 June 2024

Mailsports International Limited
Company Information
for the year from 1 July 2023 to 30 June 2024

Directors

Lesley Crawford
Philip Crawford

Registered Address

Unit 4 City Limits
Danehill
Reading
RG6 4UP

Registered Number

07125886 (England and Wales)
Mailsports International Limited
Balance Sheet as at
30 June 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets3-1,574
Tangible assets4-2,971
-4,545
Current assets
Stocks5-125,000
Debtors12,30330,854
Cash at bank and on hand61,60963,111
73,912218,965
Creditors amounts falling due within one year6(68,854)(104,219)
Net current assets (liabilities)5,058114,746
Total assets less current liabilities5,058119,291
Creditors amounts falling due after one year7-(15,336)
Provisions for liabilities8-(743)
Net assets5,058103,212
Capital and reserves
Called up share capital100100
Profit and loss account4,958103,112
Shareholders' funds5,058103,212
The financial statements were approved and authorised for issue by the Board of Directors on 4 March 2025, and are signed on its behalf by:
Philip Crawford
Director
Registered Company No. 07125886
Mailsports International Limited
Notes to the Financial Statements
for the year ended 30 June 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 compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
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).
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
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.
Current taxation
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.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Fixtures and fittings15
Finance leases and hire purchase contracts
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight line basis over the period of the lease.
Stocks and work in progress
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year22
3.Intangible assets

Goodwill

Other

Total

£££
Cost or valuation
At 01 July 2341,00085,214126,214
Disposals(41,000)(85,214)(126,214)
Amortisation and impairment
At 01 July 2341,00083,640124,640
Charge for year-1,5741,574
On disposals(41,000)(85,214)(126,214)
Net book value
At 30 June 24---
At 30 June 23-1,5741,574
4.Tangible fixed assets

Fixtures & fittings

Total

££
Cost or valuation
At 01 July 2315,63915,639
Disposals(15,639)(15,639)
Depreciation and impairment
At 01 July 2312,66812,668
Charge for year2,2662,266
On disposals(14,934)(14,934)
Net book value
At 30 June 24--
At 30 June 232,9712,971
5.Stocks

2024

2023

££
Finished goods-125,000
Total-125,000
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables-59,693
Bank borrowings and overdrafts9,17610,034
Taxation and social security3346,092
Other creditors56,35025,406
Accrued liabilities and deferred income2,9942,994
Total68,854104,219
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts-15,336
Total-15,336
8.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)-743
Total-743