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Registrar

Registration number: 05026784

Impression Europe Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

Impression Europe Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 8

 

Impression Europe Limited

Company Information

Directors

M J Stephenson

A L Stephenson

J J Stephenson

R O Stephenson

M J Stephenson

Registered office

Promotions House
Westside Centre
Stanway
Colchester
Essex
CO3 8PH

Bankers

HSBC Bank plc
Midland House
26 North Station Road
Colchester
Essex
CO1 1SY

Accountants

Lambert Chapman LLP
Chartered Accountants3 Warners Mill
Silks Way
Braintree
Essex
CM7 3GB

 

Impression Europe Limited

(Registration number: 05026784)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

65,622

66,646

Investments

5

83

83

 

65,705

66,729

Current assets

 

Stocks

6

247,500

261,712

Debtors

7

626,183

806,191

Cash at bank and in hand

 

401,711

112,536

 

1,275,394

1,180,439

Creditors: Amounts falling due within one year

8

(410,522)

(415,043)

Net current assets

 

864,872

765,396

Net assets

 

930,577

832,125

Capital and reserves

 

Called up share capital

9

2,000

2,000

Retained earnings

928,577

830,125

Shareholders' funds

 

930,577

832,125

For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 10 April 2025 and signed on its behalf by:
 

.........................................
M J Stephenson
Director

.........................................
J J Stephenson
Director

 
     
 

Impression Europe Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is Promotions House, Westside Centre, Stanway, Colchester, Essex,
CO3 8PH, which is the same as the principal place of business.

These financial statements were authorised for issue by the Board on 10 April 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention.

These financial statements are presented in Sterling (£), which is the company's functional currency.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of printing and distribution of promotional gifts. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Government grants

Government grants have been recognised within the profit and loss account for the accounting period they relate to.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Impression Europe Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

Tax

Current Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised on material temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation.

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

33% straight line and 15% reducing balance

Plant & machinery

25% reducing balance

Fixtures & fittings

25% reducing balance

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Impression Europe Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 24 (2023 - 22).

 

Impression Europe Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

4

Tangible assets

Office equipment
 £

Fixtures & fittings
 £

Plant & machinery
£

Total
£

Cost or valuation

At 1 January 2024

50,033

55,093

18,084

123,210

Additions

21,479

474

-

21,953

Disposals

(26,551)

-

-

(26,551)

At 31 December 2024

44,961

55,567

18,084

118,612

Depreciation

At 1 January 2024

40,795

10,711

5,058

56,564

Charge for the year

7,298

11,135

3,256

21,689

Eliminated on disposal

(25,263)

-

-

(25,263)

At 31 December 2024

22,830

21,846

8,314

52,990

Carrying amount

At 31 December 2024

22,131

33,721

9,770

65,622

At 31 December 2023

9,238

44,382

13,026

66,646

5

Investments

2024
£

2023
£

Investments in subsidiaries

83

83

Subsidiaries

£

Cost or valuation

At 1 January 2024

83

Provision

Carrying amount

At 31 December 2024

83

At 31 December 2023

83

 

Impression Europe Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2024

2023

Subsidiary undertakings

Impression Europe (EU) Direct Limited

Unit 3D North Point House, North Point Business Park, New Mallow Road, Cork, Co. Cork

Ireland

Ordinary Shares

100%

100%

6

Stocks

2024
£

2023
£

Stocks

247,500

261,712

7

Debtors

2024
£

2023
£

Trade debtors

 

537,152

666,424

Amounts owed by group undertakings

1,483

66,142

Other debtors

 

29,831

33,193

Prepayments

 

57,717

40,432

 

626,183

806,191

 

Impression Europe Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10

3

-

Trade creditors

 

139,228

138,550

Amounts owed to group undertakings and undertakings in which the company has a participating interest

1,642

-

Taxation and social security

 

250,914

256,676

Other creditors

 

3,500

3,500

Accruals and deferred income

 

15,235

16,317

 

410,522

415,043

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

1,600

1,600

1,600

1,600

Founder shares of £1 each

400

400

400

400

2,000

2,000

2,000

2,000

10

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank overdrafts

3

-

11

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £356,500 (2023 - £440,500).