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Company No: 09299215 (England and Wales)

IMPRIMA IROOMS LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2024
Pages for filing with the registrar

IMPRIMA IROOMS LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

IMPRIMA IROOMS LIMITED

COMPANY INFORMATION

For the financial year ended 31 December 2024
IMPRIMA IROOMS LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 December 2024
Director G Mckeown (Resigned 03 June 2024)
P M Van Der Made (Appointed 27 March 2024)
Registered office 2nd Floor 168 Shoreditch High Street
London
E1 6RA
United Kingdom
Company number 09299215 (England and Wales)
Accountant Kreston Reeves LLP
2nd Floor
168 Shoreditch High Street
London
E1 6RA

ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF
THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF IMPRIMA IROOMS LIMITED

For the financial year ended 31 December 2024

ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF
THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF IMPRIMA IROOMS LIMITED (continued)

For the financial year ended 31 December 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Imprima iRooms Limited for the financial year ended 31 December 2024 which comprise the Balance Sheet and the related notes 1 to 12 from the Company’s accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/regulation.

It is your duty to ensure that Imprima iRooms Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Imprima iRooms Limited. You consider that Imprima iRooms Limited is exempt from the statutory audit requirement for the financial year.

We have not been instructed to carry out an audit or a review of the financial statements of Imprima iRooms Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

This report is made solely to the Director of Imprima iRooms Limited, as a body, in accordance with the terms of our engagement letter dated 31 July 2023. Our work has been undertaken solely to prepare for your approval the financial statements of Imprima iRooms Limited and state those matters that we have agreed to state to the director of Imprima iRooms Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Imprima iRooms Limited and its Director as a body for our work or for this report.

Kreston Reeves LLP
Chartered Accountants

2nd Floor
168 Shoreditch High Street
London
E1 6RA

03 April 2025

IMPRIMA IROOMS LIMITED

BALANCE SHEET

As at 31 December 2024
IMPRIMA IROOMS LIMITED

BALANCE SHEET (continued)

As at 31 December 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 4 7,547 11,227
7,547 11,227
Current assets
Debtors 5 383,866 515,532
Cash at bank and in hand 7,090 12,443
390,956 527,975
Creditors: amounts falling due within one year 6 ( 398,060) ( 1,547,250)
Net current liabilities (7,104) (1,019,275)
Total assets less current liabilities 443 (1,008,048)
Creditors: amounts falling due after more than one year 7 ( 4,167) ( 14,173)
Net liabilities ( 3,724) ( 1,022,221)
Capital and reserves
Called-up share capital 8 1 1
Capital redemption reserve 985,276 0
Profit and loss account 11 ( 989,001 ) ( 1,022,222 )
Total shareholder's deficit ( 3,724) ( 1,022,221)

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

Director's responsibilities:

The financial statements of Imprima iRooms Limited (registered number: 09299215) were approved and authorised for issue by the Director on 03 April 2025. They were signed on its behalf by:

P M Van Der Made
Director
IMPRIMA IROOMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
IMPRIMA IROOMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Imprima iRooms Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 2nd Floor 168 Shoreditch High Street, London, E1 6RA, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The financial statements have been prepared on a going concern basis despite the company reporting net current liabilities of £7,104 (2023: £1,019,275) and net liabilities of £3,724 (2023: £1,022,221). The director has considered the position of the company and believes it to be a going concern and that the company will be able to meet its liabilities as they fall due for the foreseeable future and for a period of at least twelve months from the date of approval of the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Comprehensive Income in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and 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.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Comprehensive Income in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Finance costs

Finance costs are charged to the Statement of Comprehensive Income over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Computer software 3 years straight line
Development costs 5 years straight line
Research and development

Research expenditure is written off as incurred. Development expenditure is also written off, except where the director is satisfied as to the technical, commercial and financial viability of individual projects. In such cases, the identifiable expenditure is capitalised as an intangible asset and amortised over the period during which the Company is expected to benefit. This period is between three and five years. Provision is made for any impairment.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Office equipment 3 years straight line
Computer equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 10 14

3. Intangible assets

Computer software Development costs Total
£ £ £
Cost
At 01 January 2024 59,895 752,174 812,069
At 31 December 2024 59,895 752,174 812,069
Accumulated amortisation
At 01 January 2024 59,895 752,174 812,069
At 31 December 2024 59,895 752,174 812,069
Net book value
At 31 December 2024 0 0 0
At 31 December 2023 0 0 0

4. Tangible assets

Office equipment Computer equipment Total
£ £ £
Cost
At 01 January 2024 439 210,189 210,628
Additions 0 7,565 7,565
At 31 December 2024 439 217,754 218,193
Accumulated depreciation
At 01 January 2024 439 198,962 199,401
Charge for the financial year 0 11,245 11,245
At 31 December 2024 439 210,207 210,646
Net book value
At 31 December 2024 0 7,547 7,547
At 31 December 2023 0 11,227 11,227

5. Debtors

2024 2023
£ £
Trade debtors 6,218 8,062
Amounts owed by Group undertakings 301,746 418,419
Prepayments 48,792 43,553
VAT recoverable 672 19,060
Corporation tax 24,788 24,788
Other debtors 1,650 1,650
383,866 515,532

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 10,000 10,000
Trade creditors 49,706 50,585
Amounts owed to Group undertakings 201,801 1,241,753
Accruals and deferred income 121,631 99,998
Other taxation and social security 11,921 138,786
Other creditors 3,001 6,128
398,060 1,547,250

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 4,167 14,173

In 2020, the company were successful in receiving a Bounce Back Loan to the value of £50,000. This loan is designed to help UK businesses who are struggling with the effects of the COVID-19 outbreak. The company has taken advantage of the repayment holiday and started to make repayments in June 2021. At the balance sheet date the amount outstanding was £14,173 (2023: £24,173), of which £10,000 (2023: £10,000) is payable within one year.

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
1 Ordinary share of £ 1.00 1 1

9. Financial commitments

Pensions

The Company operates a defined contribution pension scheme for the director and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund.

The pension cost charge represents contributions payable by the company to the fund and amounted to £61,406 (2023: £40,323).

Contributions totalling £3,001 (2023: £4,723) were payable to the fund at the balance sheet date and are included in creditors.

10. Related party transactions

At the year end, the company has taken advantage of the exemption, under the terms of Financial Reporting Standard 102 Section 1a 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

11. Reserves

Profit and loss account

The Profit and loss account comprises all current and prior period retained profits and losses.

Share Capital

This represents the nominal value of shares that have been issued by the company.

Capital redemption reserve

During the year, the parent company provide an addition capital contribution of £985,276 by capitalising an intercompany loan account held with the company.

12. Ultimate controlling party

Parent Company:

Imprima (Nederland) B.V
a company incorporated in the Netherlands.