Silverfin false false 31/12/2024 01/01/2024 31/12/2024 Peter Kerr Rebecca Munday 28/07/2000 Marcus Sandwith 01/01/2013 John Sylvester 21/05/2009 Graham Temple 23/01/2008 Robert White 01/01/2016 14 April 2025 The IPM is dedicated to protecting and promoting Promotional Marketing. Members are Promoters, Promotional Marketing Agencies and companies in the Marketing Services sector. The IPM supports self-regulation for all non-broadcast advertising.

We monitor developments in Brussels, Whitehall, Edinburgh, Cardiff and Belfast so that we can:
• Act on behalf of our Members to try to minimise the negative impact of any proposed legislation on their businesses and to counter the arguments of anti-marketing lobby groups.
• Provide the evidence for the impact of promotions on behaviour change, so that government departments better understand the value of Promotional Marketing in the wider economy.

We work to drive best practice in promotional marketing through:
• Inputting into the self-regulatory system which governs UK marketing.
• Our Legal Advisory Service, advises agencies and brand owners on The UK Code of Non-broadcast Advertising and Direct and Promotional Marketing
• Our educational Diploma and Certificate programmes.
• Providing research, guidelines and best practice documents to our members.
• Our award programmes, which recognise the best in Promotional Marketing
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Company No: 00975635 (England and Wales)

THE INSTITUTE OF PROMOTIONAL MARKETING LTD

(A company limited by guarantee)

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

THE INSTITUTE OF PROMOTIONAL MARKETING LTD

Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

THE INSTITUTE OF PROMOTIONAL MARKETING LTD

STATEMENT OF FINANCIAL POSITION

As at 31 December 2024
THE INSTITUTE OF PROMOTIONAL MARKETING LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 December 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 9,440 11,800
Tangible assets 4 3,459 3,192
12,899 14,992
Current assets
Debtors 5 56,537 40,273
Cash at bank and in hand 271,343 297,641
327,880 337,914
Creditors: amounts falling due within one year 6 ( 135,486) ( 120,446)
Net current assets 192,394 217,468
Total assets less current liabilities 205,293 232,460
Net assets 205,293 232,460
Reserves
Profit and loss account 205,293 232,460
Total reserves 205,293 232,460

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.

Directors' responsibilities:

The financial statements of The Institute of Promotional Marketing Ltd (registered number: 00975635) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

Graham Temple
Director

14 April 2025

THE INSTITUTE OF PROMOTIONAL MARKETING LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
THE INSTITUTE OF PROMOTIONAL MARKETING LTD

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

The Institute of Promotional Marketing Ltd (the Company) is a private company, limited by guarantee, 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 35 Ballards Lane, London, N3 1XW, 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 directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing 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 Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account 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

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Defined contribution schemes
The company operates a defined contribution scheme. The amount charged to the Profit and Loss Account 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 Statement of Financial Position.

Taxation

Current tax
The company has obtained exemption from the Revenue Commissioners in respect of corporation tax, it being a company not carrying on a business for the purposes of making profit. Tax is payable on any interest income received.

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:

Other intangible assets 5 years straight line
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:

Plant and machinery etc. 5 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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

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.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to and from related parties and investments in non-puttable ordinary shares.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, 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.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Income Statement.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, 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 receipts discounted at a market rate of interest.

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 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.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Equity instruments
Equity instruments issued by the company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the company during the year, including directors 11 9

3. Intangible assets

Other intangible assets Total
£ £
Cost
At 01 January 2024 11,800 11,800
At 31 December 2024 11,800 11,800
Accumulated amortisation
At 01 January 2024 0 0
Charge for the financial year 2,360 2,360
At 31 December 2024 2,360 2,360
Net book value
At 31 December 2024 9,440 9,440
At 31 December 2023 11,800 11,800

4. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 January 2024 69,742 69,742
Additions 1,252 1,252
At 31 December 2024 70,994 70,994
Accumulated depreciation
At 01 January 2024 66,550 66,550
Charge for the financial year 985 985
At 31 December 2024 67,535 67,535
Net book value
At 31 December 2024 3,459 3,459
At 31 December 2023 3,192 3,192

5. Debtors

2024 2023
£ £
Trade debtors 44,868 30,303
Other debtors 11,669 9,970
56,537 40,273

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 10,808 8,888
Taxation and social security 18,171 11,318
Other creditors 106,507 100,240
135,486 120,446

7. Liability of members

The company is limited by guarantee, not having a share capital and consequently every Corporate Member of the Institute undertakes to contribute to the assets of the Institute, in the event of it being wound up while he is a Corporate Member or within one year afterwards, for payment of the debts and liabilities of the Institute contracted before he ceased to be a Corporate Member, and the costs, charges and expenses of winding up, and for the adjustment of the rights of the contributors among themselves, as additional amount (after payment of the Corporate Member's outstanding liabilities to the Institute) as may be required. Such amount not to exceed the current annual membership subscription as it applies to that Corporate Member.

The liability of every Personal Member in the event of the Institute being wound up or dissolved is limited to the settlement in full of any Personal Membership subscription and other fees or dues outstanding on the date that a Winding Up Petition or other Statutory Instrument is granted by an appropriate Court.