Impression Technologies Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 08013870 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 December 2015

for

Impression Technologies Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Dr G J S Adam

Professor J Lin

R H Bahns

Mercia Fund Management (Nominees) Ltd

REGISTERED OFFICE:

Unit E, Lyons Park

Lyons Drive

Coventry

West Midlands

CV5 9DQ

REGISTERED NUMBER:

08013870 (England and Wales)

ACCOUNTANTS:

Silvester Parker Limited

The Spinney

Beausale

Warwick

Warwickshire

CV35 7NU

FIXED ASSETS

Tangible assets

2

1,034

-

Investments

3

1

-

1,035

-

CURRENT ASSETS

Debtors

4

1,727,267

56,210

Cash at bank

210,447

370,343

1,937,714

426,553

CREDITORS

Amounts falling due within one year

76,943

31,888

NET CURRENT ASSETS

1,860,771

394,665

TOTAL ASSETS LESS CURRENT LIABILITIES

1,861,806

394,665

CREDITORS

Amounts falling due after more than one year

5

(2,000,000

)

-

PROVISIONS FOR LIABILITIES

(207

)

-

NET (LIABILITIES)/ASSETS

(138,401

)

394,665

CAPITAL AND RESERVES

Called up share capital

6

465

312

Share premium

913,668

913,668

Profit and loss account

(1,052,534

)

(519,315

)

SHAREHOLDERS' FUNDS

(138,401

)

394,665

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2015 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.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 9 September 2016 and were signed on its behalf by:

R H Bahns - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

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

Plant and machinery etc

-

25% on cost

Deferred tax

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

sheet date.

Research and development

Expenditure on research and development is treated as revenue expenditure and written off in the year in which it

is incurred.

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 the profit and loss account in the period to which they relate.

The company has also made contributions to the director's personal pension plan during the year.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

Additions

1,128

At 31 December 2015

1,128

DEPRECIATION

Charge for year

94

At 31 December 2015

94

NET BOOK VALUE

At 31 December 2015

1,034

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

Additions

1

At 31 December 2015

1

NET BOOK VALUE

At 31 December 2015

1

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Coventry International Pressing Company Limited

Nature of business: Manufacturer of automotive pressings.

%

Class of shares:

holding

Ordinary

100.00

31.12.15

£

Aggregate capital and reserves

(269,502

)

Loss for the year

(269,503

)

4.

DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

The aggregate total of debtors falling due after more than one year is £ 1,654,530

5.

CREDITORS

Creditors include the following debts falling due in more than five years:

31.12.15

31.12.14

£

£

Repayable otherwise than by instalments

2,000,000

-

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.15

31.12.14

value:

£

£

464,854

Ordinary.

0.001

p

465

312

The following shares were issued during the year for cash at par :

153,038 Ordinary. shares of 0.001p

7.	NET DEFICIENCY OF ASSETS

The balance sheet shows a net liability position. However, net current assets are strongly positive and the

directors are confident that the company has the resources available to continue trading for the foreseeable future.