MAILSERVE_LTD - Accounts
MAILSERVE_LTD - Accounts
Mailserve Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Bevan Kidwell LLP, 113-117 Farringdon Road, London, EC1R 3BX Bevan Kidwell Llp, 113-117 Farringdon Road, London, England, EC1R 3BX.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Covid-19
The directors have closely monitored the government guidance in response to the COVID-19 pandemic and have noted no items in relation to the pandemic which require disclosure at the balance sheet date.
Brexit
The directors have considered the impact of Brexit on the company and have concluded that there are no impacts as a result of Brexit which require disclosure at the balance sheet date.
Transfer of trade
As part of a group restructuring exercise, a transfer of trade and assets occurred on 1st August 2020 whereby all trade and assets were hived up to the parent company, the Mailing Room Holdings Ltd, who in turn transferred these trade and assets to a fellow subsidiary, the Mailing Room Ltd. No gain or loss was reported on the transfer. The purpose of this transfer was to strengthen the brand.
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
The average monthly number of persons (including directors) employed by the company during the year was nil (2020 - nil).
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:
The auditor's report was unqualified.
There were no events after the reporting period date which require disclosure at the balance sheet date.
During the year there were no related party transactions which require disclosure.
The company is a wholly owned subsidiary of The Mailing Room Holdings Limited and the results for the company are included within the consolidated accounts. The registered office of The Mailing Room Holdings Limited is Bevan Kidwell LLP, 113-117 Farringdon Road, London, EC1R 3BX.
The ultimate controlling parties are G Bevan and H Bevan.