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Registered number: 10385362










VISTAPRINT CORPORATE SOLUTIONS UK LIMITED
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

 
VISTAPRINT CORPORATE SOLUTIONS UK LIMITED
 

COMPANY INFORMATION


Directors
P McDermott 
J Chevalier 




Registered number
10385362



Registered office
C/O Cogency Global (UK) Limited
6 Lloyds Avenue

Unit 4CL

London

EC3N 3AX




Independent auditors
Sumer Auditco Limited
Chartered Accountants & Statutory Auditors

14 City Quay

Dundee

DD1 3JA





 
VISTAPRINT CORPORATE SOLUTIONS UK LIMITED
REGISTERED NUMBER: 10385362

STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2024

30 June
29 June
2024
2023
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
409,315
372,547

Cash at bank and in hand
  
803,111
1,235,720

  
1,212,426
1,608,267

Creditors: amounts falling due within one year
 5 
(905,308)
(1,352,471)

Net current assets
  
 
 
307,118
 
 
255,796

Total assets less current liabilities
  
307,118
255,796

  

Net assets
  
307,118
255,796


Capital and reserves
  

Called up share capital 
 6 
1
1

Profit and loss account
  
307,117
255,795

  
307,118
255,796


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 27 June 2025.




J Chevalier
Director

The notes on pages 2 to 5 form part of these financial statements.

Page 1

 
VISTAPRINT CORPORATE SOLUTIONS UK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

1.


General information

The Company was setup to provide sales and marketing support to the business unit of Vistaprint Corporate Solutions (VCS) in Europe. 
Vistaprint Corporate Solutions UK Limited is a private company, limited by shares, and is incorporated and domiciled in the United Kingdom. The address of its registered office is c/o Cogency Global (UK) Limited, 6 Lloyds Avenue, Unit 4cl, London, England, EC3N 3AX.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Going concern

The directors believe that preparing the financial statements on the going concern basis is appropriate due to the continued support of the Company's ultimate parent, Cimpress plc.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of income and retained earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 2

 
VISTAPRINT CORPORATE SOLUTIONS UK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.4

Revenue

The Company operates under a distribution agreement with Cimpress Schweiz GmbH, an affiliated Company of the Cimpress Group, whereas the Company has the Company has the responsibility for the marketing and sales of printed and graphic related products and Cimpress Schweiz GmbH has the responsibility to sell and supply or procure the products to Vistaprint Corporate Solutions UK Limited. The distribution agreement also stipulates that product, inventory and customer credit risk remains with Cimpress Schweiz GmbH.
Further, despite the fact that the Company purchases each product for its price (which is defined as sales prices less operating expenses less operating margin earned by comparable distribution companies), the agreement foresees a targeted operating margin to ensure that the Company realises a financial return for its distributor and sales activities, reflecting the functions performed, the assets employed and the risks assumed by the Company. In the event that the price paid for the Products does not result in the Company earning an arm's length return, Cimpress Schweiz GmbH will provide a credit note or issue an invoice to bring the Company's return within the arm's length interquartile range of results. 
As a result of the above described responsibilities, it is understood that the responsibility of the Company is limited to arranging or mediating the provision of goods to the end customer and hence revenue is disclosed as a net amount (Third party revenue +/- transfer pricing adjustment) reflecting the Company's compensations in its function as distributor. 
For the purpose of calculation, revenue is recognised when product is procured and shipped and the cost is incurred.  

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that 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.

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the period in which they are incurred.

 
2.8

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.


Page 3

 
VISTAPRINT CORPORATE SOLUTIONS UK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3.


Employees

The average monthly number of employees, including directors, during the period was 2 (2023 - 2).


4.


Debtors

30 June
29 June
2024
2023
£
£


Trade debtors
378,053
364,811

Amounts owed by group undertakings
28,323
4,708

Other debtors
2,939
3,028

409,315
372,547



5.


Creditors: Amounts falling due within one year

30 June
29 June
2024
2023
£
£

Bank overdrafts
-
478

Trade creditors
21,659
4,668

Amounts owed to group undertakings
523,495
998,212

Other taxation and social security
262,295
177,075

Accruals and deferred income
97,859
172,038

905,308
1,352,471


Amounts owed to group undertakings includes a revolving credit facility provided by Cimpress Plc., the ultimate parent of Vistaprint Corporate Solutions UK Limited. Interest is charged on a quarterly basis, at a rate per annum equal to the three month Term SOFR plus 3% on the unpaid principal amount of the loan. While this loan is repayable on demand, full repayment of the principal amount is required by September 2027.                 

Page 4

 
VISTAPRINT CORPORATE SOLUTIONS UK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

6.


Share capital

30 June
29 June
2024
2023
£
£
Allotted, called up and fully paid



1 (2023 - 1) Ordinary share of £1.00
1
1



7.


Related party transactions

Transactions between the Company and other wholly owned subsidiary companies of Cimpress plc are not disclosed as the Company has taken advantage of the exemption available under FRS 102, 33.1A "Related Party Disclosures".


8.


Controlling party

The immediate parent company is Cimpress UK Limited, a private limited company incorporated in the United Kingdom with registered address c/o Cogency Global (UK) Limited, Limited 6 Lloyds Avenue, Unit 4cl, London, England, EC3N 3AX.
The ultimate parent is Cimpress plc, a company incorporated in Ireland.
Cimpress plc is the parent undertaking of the smallest and largest group of undertakings to consolidate these financial statements at 30 June 2024. The consolidated financial statements of Cimpress plc are available from Cimpress plc, First Floor Building 3 Finnabair Business & Technology Park, A91 XR61, Dundalk, County LouthIreland.


9.


Auditors' information

The auditors' report on the financial statements for the period ended 30 June 2024 was unqualified.

The audit report was signed on 27 June 2025 by Douglas Rae (Senior statutory auditor) on behalf of Sumer Auditco Limited.

Page 5