Mailsphere Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08395895 (England and Wales)

Mailsphere Limited

Unaudited Financial Statements for the Year Ended 28 February 2019

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

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

FIXED ASSETS

Tangible assets

4

875

1,312

CURRENT ASSETS

Debtors

5

24,008

22,404

Cash at bank

31,237

4,254

55,245

26,658

CREDITORS

Amounts falling due within one year

6

107,417

36,440

NET CURRENT LIABILITIES

(52,172

)

(9,782

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(51,297

)

(8,470

)

CAPITAL AND RESERVES

Called up share capital

241

241

Share premium

347,865

347,865

Retained earnings

(399,403

)

(356,576

)

SHAREHOLDERS' FUNDS

(51,297

)

(8,470

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2019 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 23 October 2019 and were signed on its behalf by:

T G Roberts - Director

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 director has 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2018 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 March 2018

and 28 February 2019

1,750

DEPRECIATION

At 1 March 2018

438

Charge for year

437

At 28 February 2019

875

NET BOOK VALUE

At 28 February 2019

875

At 28 February 2018

1,312

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.19

28.2.18

£

£

Trade debtors

14,729

17,201

Other debtors

9,279

5,203

24,008

22,404

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.19

28.2.18

£

£

Trade creditors

39,317

2,159

Amounts owed to group undertakings

94,508

58,219

Taxation and social security

(27,608

)

(23,938

)

Other creditors

1,200

-

107,417

36,440

7.	RELATED PARTY DISCLOSURES

During the year the company provided services to Databarracks amounting to £24,898 and received a

loan from Databarracks of £100,000.

At the balance sheet date £94,508 was owed to Databarracks Limited.

Databarracks is a company jointly controlled by three of the shareholders of Mailsphere Limited one of

whom is the Director.

8.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is T G Roberts.

The company became under the joint control of the director Mr T Roberts together with two of the

remaining shareholders.