Company registration number 09801918 (England and Wales)
MAILJET SAAS LTD
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
PAGES FOR FILING WITH REGISTRAR
MAILJET SAAS LTD
CONTENTS
Page
Directors' report
Balance sheet
1
Notes to the financial statements
2 - 5
MAILJET SAAS LTD
BALANCE SHEET
AS AT
31 DECEMBER 2021
31 December 2021
- 1 -
2021
2020
Notes
£
£
£
£
Fixed assets
Tangible assets
4
16,465
9,413
Current assets
Debtors
5
49,875
378,533
Cash at bank and in hand
1,059,295
295,036
1,109,170
673,569
Creditors: amounts falling due within one year
6
(2,458,426)
(2,223,952)
Net current liabilities
(1,349,256)
(1,550,383)
Total assets less current liabilities
(1,332,791)
(1,540,970)
Capital and reserves
Called up share capital
7
1
1
Profit and loss reserves
(1,332,792)
(1,540,971)
Total equity
(1,332,791)
(1,540,970)
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 15 November 2022 and are signed on its behalf by:
C. LEWIS
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 2021
- 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
23 Copenhagen Street, London, UK, N1 0JB.
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 2021
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
Judgements and key sources of estimation uncertainty
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.
MAILJET SAAS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
- 4 -
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
5
2021
2020
Number
Number
Total
11
5
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2021
14,754
Additions
12,778
At 31 December 2021
27,532
Depreciation and impairment
At 1 January 2021
5,341
Depreciation charged in the year
5,726
At 31 December 2021
11,067
Carrying amount
At 31 December 2021
16,465
At 31 December 2020
9,413
5
Debtors
2021
2020
Amounts falling due within one year:
£
£
Trade debtors
9,924
378,533
Other debtors
39,951
49,875
378,533
MAILJET SAAS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
- 5 -
6
Creditors: amounts falling due within one year
2021
2020
£
£
Trade creditors
31,587
4,633
Gross amounts owed to contract customers
8,271
13,264
Amounts owed to group undertakings
2,228,173
1,898,844
Taxation and social security
72,283
53,608
Deferred income
64,874
220,755
Other creditors
2,398
13,173
Accruals and deferred income
50,840
19,675
2,458,426
2,223,952
7
Called up share capital
2021
2020
2021
2020
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of 1p each
100
100
1
1
8
Parent company
The
ultimate
parent company is Sinch AB, a company registered in Sweden.
Sinch AB
, p
repared group financial statements and copies can be obtained from Lindhagensgatan 74, van7, 112 18 Stockholm.
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 senior statutory auditor was Olivier PJ Foucault and the auditor was FC EXPERTISE LTD.