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REGISTERED NUMBER: 04854830 (England and Wales)

















Report of the Directors and

Unaudited Financial Statements

for the Year Ended 31 October 2024

for

VSM Europe Limited

VSM Europe Limited (Registered number: 04854830)






Contents of the Financial Statements
for the Year Ended 31 October 2024




Page

Company Information 1

Report of the Directors 2

Balance Sheet 3

Notes to the Financial Statements 5

Chartered Accountants' Report 8

VSM Europe Limited

Company Information
for the Year Ended 31 October 2024







DIRECTORS: Mr L Vernon
Ms G A Vernon





SECRETARY: Ms G A Vernon





REGISTERED OFFICE: 2nd Floor, Grove House
774-780 Wilmslow Road
Didsbury
Manchester
Greater Manchester
M20 2DR





REGISTERED NUMBER: 04854830 (England and Wales)





ACCOUNTANTS: Sterling Partners Limited
Chartered Accountants
Chartered Tax Advisors
2nd Floor, Grove House
774-780 Wilmslow Road
Didsbury
Manchester
Greater Manchester
M20 2DR

VSM Europe Limited (Registered number: 04854830)

Report of the Directors
for the Year Ended 31 October 2024

The directors present their report with the financial statements of the company for the year ended 31 October 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of full-service marketing and communications agency within the dental industry/channel.

REVIEW OF BUSINESS
VSM Marketing, the trading name of VSM Europe Limited, continues to lead the UK market as a specialist dental marketing and communications agency. Our position as a market leader has been further enhanced through our exclusive professional database, enabling us to deliver highly targeted and effective digital and offline campaigns.

Our distinctive approach combining deep sector insights with expert industry knowledge ensures client communications consistently resonate with their intended audiences. This remains the foundation of our value proposition to deliver impactful, measurable, and commercially effective campaign outcomes.

The UK dental market is expanding, now valued at over £10 billion, driven by demographic shifts such as an ageing population retaining more of their natural teeth. Dental health is inextricably linked to overall health, and with evidence-based treatment methods applicable across geographies, VSM is well positioned to support clients beyond the UK, extending our expertise into international markets.

Furthermore, the dental channel offers a powerful route to influence consumer behaviour. Dental professionals are trusted voices, and their product recommendations often carry more weight than traditional media such as TV advertising. This presents a unique opportunity for our clients to build long-term consumer loyalty and drive brand growth.

While dentistry remains our core focus, the VSM model is proven and adaptable to other health-related sectors. We remain committed to leveraging our expertise to support public health, health professionals, and the industries we serve. At the same time, we continue to drive sustainable commercial growth for our clients, for the wider healthcare ecosystem, and for Team VSM.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 November 2023 to the date of this report.

Mr L Vernon
Ms G A Vernon

FINANCIAL INSTRUMENTS
Bank loans are initially measured at cost.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





Mr L Vernon - Director


29 July 2025

VSM Europe Limited (Registered number: 04854830)

Balance Sheet
31 October 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 42,869 48,413

CURRENT ASSETS
Debtors 5 217,739 211,174
Cash at bank 179,788 138,423
397,527 349,597
CREDITORS
Amounts falling due within one year 6 (249,059 ) (208,426 )
NET CURRENT ASSETS 148,468 141,171
TOTAL ASSETS LESS CURRENT
LIABILITIES

191,337

189,584

CREDITORS
Amounts falling due after more than one
year

7

(12,365

)

(21,667

)

PROVISIONS FOR LIABILITIES 8 (11,105 ) (12,103 )
NET ASSETS 167,867 155,814

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 167,767 155,714
SHAREHOLDERS' FUNDS 167,867 155,814

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

VSM Europe Limited (Registered number: 04854830)

Balance Sheet - continued
31 October 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 July 2025 and were signed on its behalf by:





Mr L Vernon - Director


VSM Europe Limited (Registered number: 04854830)

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

1. STATUTORY INFORMATION

VSM Europe Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 33% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 7 ) .

VSM Europe Limited (Registered number: 04854830)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings Totals
£    £    £    £   
COST
At 1 November 2023 20,321 75,767 75,488 171,576
Additions - 165 2,476 2,641
Disposals - (200 ) (26,089 ) (26,289 )
At 31 October 2024 20,321 75,732 51,875 147,928
DEPRECIATION
At 1 November 2023 2,507 53,676 66,980 123,163
Charge for year 407 3,331 3,243 6,981
Eliminated on disposal - (153 ) (24,932 ) (25,085 )
At 31 October 2024 2,914 56,854 45,291 105,059
NET BOOK VALUE
At 31 October 2024 17,407 18,878 6,584 42,869
At 31 October 2023 17,814 22,091 8,508 48,413

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 169,485 188,315
Other debtors 10,511 2,195
Directors' current accounts 32,063 17,191
Prepayments 5,680 3,473
217,739 211,174

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 86,790 84,049
Tax 63,833 45,810
Social security and other taxes 17,613 18,475
Pension liability 644 770
VAT 60,157 37,415
Other creditors 4,212 7,032
Accrued expenses 5,810 4,875
249,059 208,426

VSM Europe Limited (Registered number: 04854830)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 10,000 10,000
Bank loans - 2-5 years 2,365 11,667
12,365 21,667

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 11,105 12,103

Deferred
tax
£   
Balance at 1 November 2023 12,103
Accelerated capital allowances (998 )
Balance at 31 October 2024 11,105

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary 1 100 100

10. OTHER FINANCIAL COMMITMENTS

The company as at 31 October 2024 had financial commitments in respect of bank loans of £22,365 (2023: £31,667) and operating leases of £4,040 (2023: £7,215).

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 October 2024 and 31 October 2023:

2024 2023
£    £   
Mr L Vernon and Ms G A Vernon
Balance outstanding at start of year 17,191 20,530
Amounts advanced 128,846 66,482
Amounts repaid (113,974 ) (69,821 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 32,063 17,191

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party are the directors by virtue of their shareholding.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
VSM Europe Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of VSM Europe Limited for the year ended 31 October 2024 which comprise the Income Statement, Balance Sheet and the related notes 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

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

It is your duty to ensure that VSM Europe 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 VSM Europe Limited. You consider that VSM Europe Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of VSM Europe 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.






Sterling Partners Limited
Chartered Accountants
Chartered Tax Advisors
2nd Floor, Grove House
774-780 Wilmslow Road
Didsbury
Manchester
Greater Manchester
M20 2DR


Date: .............................................