REGISTERED NUMBER: 15996520 (England and Wales)

GROUP STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

IMPERIAL CORPORATE EVENTS HOLDINGS

LIMITED

Page

Company Information

1

Group Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

6

Consolidated Income Statement

9

Consolidated Other Comprehensive Income

10

Consolidated Balance Sheet

11

Company Balance Sheet

12

Consolidated Statement of Changes in Equity

13

Company Statement of Changes in Equity

14

Consolidated Cash Flow Statement

15

Notes to the Consolidated Cash Flow Statement

16

Notes to the Consolidated Financial Statements

18

DIRECTORS:

Mr PL Frisby

Mrs A Hope-Richardson

Mr RJ Poutch

Mr DP Thompson

REGISTERED OFFICE:

Floor 3 Mercury Place

11 St. George Street

Leicester

LE1 1QG

REGISTERED NUMBER:

15996520 (England and Wales)

SENIOR STATUTORY AUDITOR:

Mark Harrison BA FCA

AUDITORS:

Mark J Rees LLP Chartered Accountants

and Statutory Auditors

Granville Hall

Granville Road

Leicester

LE1 7RU

The directors present their strategic report of the company and the group for the year ended 31 December 2024.

The Board of Directors are pleased to present Imperial's Strategic Report for the financial year ending 31st December 2024.

REVIEW OF BUSINESS

In 2024, Imperial experienced a moderation in revenue growth relative to the strong performance of 2023, which had benefited from the fulfilment of deferred events originally scheduled during the pandemic years of 2020 and 2021. Despite a challenging macroeconomic environment, marked by geopolitical conflict, persistent inflation and elevated interest rate, the business demonstrated resilience. Encouragingly, new sales bookings continued to grow, supporting a healthy and secure order book for events scheduled into 2024 and 2025.

Recognising the evolving demands of the post-pandemic marketplace, Imperial undertook a comprehensive strategic review in late 2023. This resulted in a clearer articulation of our medium- and long-term strategic objectives, anchored in a renewed vision. Key priorities include continuous business optimisation, enhancement of our value proposition, particularly in elevating the client experience and disciplined tracking of financial performance indicators. These initiatives are designed to strengthen our positioning, improve agility, and reinforce our commitment to sustainable growth.

PRINCIPAL RISKS AND UNCERTAINTIES

In assessing risks and identifying opportunities for future-proofing and sustainable growth, Imperial continued to invest in its people, systems, training, software development, and customer experience enhancement throughout 2024 and 2025. The Directors believe these investments will contribute to our long-term success.

Overall, the Directors have full confidence in Imperial's trajectory of growth and success, prioritising sound financial management, cash flow optimisation, and strategic investments to support our organisational objectives and ensure long-term sustainability. Looking ahead, the Board remains vigilant amid the prevailing cost-of-living crisis. Nevertheless, we maintain confidence in the resilience, prospects, and sustainability of our business model.

KEY PERFORMANCE INDICATORS

The key performance indicators of trade are presented in the table below.

KPI's

2024

2023

Turnover

£15.6m

£16.7m

Operating Profit / (Loss) before tax, Depreciation & Amortisation

£1,797k

£1,534k

Shareholders' Funds

£1,238k

£1,062k

GROUP RESTRUCTURE AND BASIS OF PREPARATION

A group restructure was undertaken on 25 October 2024, resulting in Imperial Corporate Events Holdings Limited being established as the new parent company. There was no change in shareholders or overall control as part of the restructure.

Merger accounting has been applied to the consolidation of the restructured Group. Accordingly, the results and cash flows of the combining entities have been consolidated from the beginning of the financial year. Further information is included in Note 1.

ON BEHALF OF THE BOARD:

Mrs A Hope-Richardson - Director

25 September 2025

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

DIVIDENDS

The total distribution of dividends for the year ended 31 December 2024 will be £ 1,062,156 .

DIRECTORS

The directors who have held office during the period from 1 January 2024 to the date of this report are as follows:

Mr GM Foston - appointed 3 October 2024

Mr PL Frisby - appointed 3 October 2024

Mrs A Hope-Richardson - appointed 3 October 2024

Mr RJ Poutch - appointed 3 October 2024

Mr DP Thompson - appointed 3 October 2024

Mr GM Foston ceased to be a director after 31 December 2024 but prior to the date of this report.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS

The auditors, Mark J Rees LLP Chartered Accountants, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

Mrs A Hope-Richardson - Director

25 September 2025

Opinion

We have audited the financial statements of Imperial Corporate Events Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2024 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the group's and of the parent company affairs as at 31 December 2024 and of the group's profit for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

-	the parent company financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.

Our audit procedures included but were not limited to:

- substantive testing on the deferred income agreeing items to event details to ensure revenue is recognised in the correct period with specific work looking at the cut off around year end.

- testing manual journal entries and other adjustments to supporting documentation to ensure correctly dealt with.

- review of prepaid costs on hospitality packages to ensure released into the profit & loss account in the correct period with specific work looking at the cut off around year end.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Mark Harrison BA FCA (Senior Statutory Auditor)

for and on behalf of Mark J Rees LLP Chartered Accountants

and Statutory Auditors

Granville Hall

Granville Road

Leicester

LE1 7RU

30 September 2025

TURNOVER

4

15,568,810

16,700,322

Cost of sales

11,540,725

13,063,704

GROSS PROFIT

4,028,085

3,636,618

Administrative expenses

2,678,151

2,433,936

1,349,934

1,202,682

Other operating income

371,302

245,622

OPERATING PROFIT

6

1,721,236

1,448,304

Interest receivable and similar income

20,344

19,122

1,741,580

1,467,426

Interest payable and similar expenses

7

-

23,188

PROFIT BEFORE TAXATION

1,741,580

1,444,238

Tax on profit

8

503,365

382,083

PROFIT FOR THE FINANCIAL YEAR

1,238,215

1,062,155

Profit attributable to:

Owners of the parent

1,238,215

1,062,155

PROFIT FOR THE YEAR

1,238,215

1,062,155

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

1,238,215

1,062,155

Total comprehensive income attributable to:

Owners of the parent

1,238,215

1,062,155

FIXED ASSETS

Intangible assets

11

44,146

43,647

Tangible assets

12

5,940

16,192

Investments

13

-

-

50,086

59,839

CURRENT ASSETS

Debtors

14

9,903,793

9,369,375

Cash at bank and in hand

986,114

558,488

10,889,907

9,927,863

CREDITORS

Amounts falling due within one year

15

9,691,155

8,912,863

NET CURRENT ASSETS

1,198,752

1,015,000

TOTAL ASSETS LESS CURRENT LIABILITIES

1,248,838

1,074,839

PROVISIONS FOR LIABILITIES

19

10,459

12,519

NET ASSETS

1,238,379

1,062,320

CAPITAL AND RESERVES

Called up share capital

20

63

63

Retained earnings

21

1,238,316

1,062,257

SHAREHOLDERS' FUNDS

1,238,379

1,062,320

The financial statements were approved by the Board of Directors and authorised for issue on 25 September 2025 and were signed on its behalf by:

Mrs A Hope-Richardson - Director

FIXED ASSETS

Intangible assets

11

-

-

Tangible assets

12

-

-

Investments

13

9,408,000

-

9,408,000

-

CURRENT ASSETS

Cash in hand

63

-

NET CURRENT ASSETS

63

-

TOTAL ASSETS LESS CURRENT LIABILITIES

9,408,063

-

CAPITAL AND RESERVES

Called up share capital

20

63

-

Share premium

21

9,408,000

-

SHAREHOLDERS' FUNDS

9,408,063

-

Company's profit for the financial year

-

-

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

The financial statements were approved by the Board of Directors and authorised for issue on 25 September 2025 and were signed on its behalf by:

Mrs A Hope-Richardson - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 January 2023

63

2,385,234

2,385,297

Changes in equity

Dividends

-

(2,385,132

)

(2,385,132

)

Total comprehensive income

-

1,062,155

1,062,155

Balance at 31 December 2023

63

1,062,257

1,062,320

Changes in equity

Dividends

-

(1,062,156

)

(1,062,156

)

Total comprehensive income

-

1,238,215

1,238,215

Balance at 31 December 2024

63

1,238,316

1,238,379

Called up

share

Retained

Share

Total

capital

earnings

premium

equity

£

£

£

£

Changes in equity

Balance at 31 December 2023

-

-

-

-

Changes in equity

Issue of share capital

63

-

9,408,000

9,408,063

Balance at 31 December 2024

63

-

9,408,000

9,408,063

Cash flows from operating activities

Cash generated from operations

1

920,579

1,312,675

Interest paid

-

(23,188

)

Tax paid

(388,586

)

(900,728

)

Net cash from operating activities

531,993

388,759

Cash flows from investing activities

Purchase of intangible fixed assets

(32,100

)

(7,706

)

Purchase of tangible fixed assets

(14,185

)

(21,814

)

Interest received

20,344

19,122

Net cash from investing activities

(25,941

)

(10,398

)

Cash flows from financing activities

Loan repayments in year

-

(683,333

)

Amount introduced by directors

485,372

-

Amount withdrawn by directors

498,799

-

Equity dividends paid

(1,062,156

)

(842,821

)

Net cash from financing activities

(77,985

)

(1,526,154

)

Increase/(decrease) in cash and cash equivalents

428,067

(1,147,793

)

Cash and cash equivalents at beginning of year

2

553,321

1,701,114

Cash and cash equivalents at end of year

2

981,388

553,321

1.	RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

2024

2023

£

£

Profit before taxation

1,741,580

1,444,238

Depreciation charges

56,037

90,006

Finance costs

-

23,188

Finance income

(20,344

)

(19,122

)

1,777,273

1,538,310

(Increase)/decrease in trade and other debtors

(609,438

)

1,805,495

Decrease in trade and other creditors

(247,256

)

(2,031,130

)

Cash generated from operations

920,579

1,312,675

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 December 2024

31.12.24

1.1.24

£

£

Cash and cash equivalents

986,114

558,488

Bank overdrafts

(4,726

)

(5,167

)

981,388

553,321

Year ended 31 December 2023

31.12.23

1.1.23

£

£

Cash and cash equivalents

558,488

1,704,465

Bank overdrafts

(5,167

)

(3,351

)

553,321

1,701,114

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.1.24

Cash flow

At 31.12.24

£

£

£

Net cash

Cash at bank and in hand

558,488

427,626

986,114

Bank overdrafts

(5,167

)

441

(4,726

)

553,321

428,067

981,388

Total

553,321

428,067

981,388

1.	GROUP RESTRUCTURE

On 25 October 2024, a group restructure was completed. Imperial Corporate Events Holdings Limited was established as the new parent company.

Imperial Corporate Events Holdings Limited gained control of the Group through a share-for-share exchange with the shareholders of Imperial Corporate Events Limited. A full list of the Group’s subsidiaries is provided in Note 13.

The restructure did not change the ultimate shareholders or overall control, and the rights of each equity holder remain unchanged. All subsidiaries are wholly owned by Imperial Corporate Events Holdings Limited, and no minority interests exist.

The directors have applied merger accounting to the consolidation of the restructured Group. Accordingly, the assets and liabilities of the combining entities have not been restated to fair value. The results and cash flows of the entities have been consolidated from the beginning of the financial year in which the combination occurred. These consolidated financial statements have therefore been prepared as if the restructured Group had been in existence for the entire period presented.

2.	STATUTORY INFORMATION

Imperial Corporate Events Holdings 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 General Information page.

3.	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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary

amounts in these financial statements are rounded to the nearest £.

Basis of consolidation

These consolidated financial statements incorporate the financial statements of the company and its wholly-owned subsidiaries. All intragroup transactions, balances, income and expenses are eliminated.

On acquisition of a subsidiary, all of the subsidiary's assets and liabilities which exist at the date of acquisition are recorded at their fair values reflecting their condition at that date.

The restructuring of the group, which occurred on 25 October 2024, has been accounted for using the merger accounting approach. Further details of the restructuring and the accounting treatment can be found in Note 1.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 '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.

Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

Significant judgements and estimates

There were no areas in which the preparation of the financial statements required to make significant judgements or estimates.

Turnover

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

Turnover is realised when the event takes place, and therefore any monies received prior to the event is deferred and realised when it takes place.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Short leasehold

-

Straight line over the period of lease

Fixtures and fittings

-

20% on cost

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments' of FRS102 to all of its financial instruments.

Financial Instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with 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.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

4.

TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the group.

An analysis of turnover by class of business is given below:

2024

2023

£

£

Corporate hospitality packages

15,568,810

16,700,322

15,568,810

16,700,322

An analysis of turnover by geographical market is given below:

2024

2023

£

£

United Kingdom

15,568,810

16,700,322

15,568,810

16,700,322