Company Registration No. 09801918 (England and Wales)
MAILJET SAAS LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2019
PAGES FOR FILING WITH REGISTRAR
MAILJET SAAS LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
MAILJET SAAS LTD
BALANCE SHEET
AS AT
31 DECEMBER 2019
31 December 2019
- 1 -
2019
2018
Notes
£
£
£
£
Fixed assets
Tangible assets
3
-
1,388
Current assets
Debtors
4
136,673
130,481
Cash at bank and in hand
202,379
73,861
339,052
204,342
Creditors: amounts falling due within one year
5
(1,729,778)
(1,415,111)
Net current liabilities
(1,390,726)
(1,210,769)
Total assets less current liabilities
(1,390,726)
(1,209,381)
Capital and reserves
Called up share capital
6
1
1
Profit and loss reserves
(1,390,727)
(1,209,382)
Total equity
(1,390,726)
(1,209,381)
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 10 December 2020 and are signed on its behalf by:
W Conway
T Keithahn
Director
Director
Company Registration No. 09801918
The notes on pages 2 to 5 form part of these financial statements.
MAILJET SAAS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2019
- 2 -
1
Accounting policies
Company information
Mailjet SAAS LTD is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
Office G07, 14-16 Dowgate Hill, London, United Kingdom, EC4R 2SU.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares
publicly available consolidated financial statements
, including this company,
which are
intended to give a true and fair view of the assets, liabilities,
financial position and profit or loss
of the group
.
1.2
Going concern
A
true
t the time of approving the financial statements
and having considered the impact of Covid 19
,
t
he directors have a reasonable expectation that the
company
has adequate resources to continue in operational existence for the foreseeable future. The directors
therefore
continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business
, and
is shown net of VAT and other sales related taxes
.
The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that
it is probable will be
recover
ed
.
1.4
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
MAILJET SAAS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2019
1
Accounting policies
(Continued)
- 3 -
Computers
33%
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
The assets' residual values, useful lives and depreciation methods are reviewed and adjusted if appropriate or there is an indication of a significant change since the last reporting date.
1.5
Foreign exchange
Transactions in currencies other that pounds sterling are recorded at the rates of exchange prevalling at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevalling on the reporting end date. Gains and losses arising on translation are included in the profit and loss account for the period.
1.6
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
|
1.7
Leases
Rentals payable under operating leases,
including
any lease incentives received, are charged to
profit or loss
on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease
s
asset are consumed.
1.8
Related party transactions
The company has taken exemption from disclosing transactions and balances with wholly-owned subsidiaries of the group.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 3
(2018 - 3).
MAILJET SAAS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2019
- 4 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2019 and 31 December 2019
4,038
Depreciation and impairment
At 1 January 2019
2,650
Depreciation charged in the year
1,388
At 31 December 2019
4,038
Carrying amount
At 31 December 2019
-
At 31 December 2018
1,388
4
Debtors
2019
2018
Amounts falling due within one year:
£
£
Trade debtors
125,955
121,252
Other debtors
10,718
9,229
136,673
130,481
5
Creditors: amounts falling due within one year
2019
2018
£
£
Trade creditors
3,102
13,197
Amounts owed to group undertakings
1,545,072
1,307,744
Taxation and social security
128,543
28,816
Accruals and deferred income
53,061
65,354
1,729,778
1,415,111
6
Called up share capital
2019
2018
£
£
Ordinary share capital
Issued and fully paid
100 Ordinary of 1p each
1
1
MAILJET SAAS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2019
- 5 -
7
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2019
2018
£
£
3,120
3,120
8
Parent company
The immediate
and ultimate
parent company is
Mailjet SAS
, a company registered in France.
Mailjet SAS
prepared group financial statements and copies can be obtained from
13 B rue de l'Aubrac, 75012 Paris,
France
9
Audit report information
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 on these financial statements was unqualified and was signed by Mark Wilson who is the Senior Statutory Auditor for Mark SJ Wilson.