Silverfin false 30/04/2023 01/05/2022 30/04/2023 David Peter Hall 25/02/2019 William Michael John Jordan 25/02/2019 16 October 2023 The principal activity of the Company during the financial year was that of Developing, Implementing and Supporting, cloud based Budgeting, Forecasting and Reporting Software for Multi Academy Trusts. 11843421 2023-04-30 11843421 bus:Director1 2023-04-30 11843421 bus:Director2 2023-04-30 11843421 2022-04-30 11843421 core:CurrentFinancialInstruments 2023-04-30 11843421 core:CurrentFinancialInstruments 2022-04-30 11843421 core:Non-currentFinancialInstruments 2023-04-30 11843421 core:Non-currentFinancialInstruments 2022-04-30 11843421 core:ShareCapital 2023-04-30 11843421 core:ShareCapital 2022-04-30 11843421 core:RetainedEarningsAccumulatedLosses 2023-04-30 11843421 core:RetainedEarningsAccumulatedLosses 2022-04-30 11843421 core:ComputerEquipment 2022-04-30 11843421 core:ComputerEquipment 2023-04-30 11843421 bus:OrdinaryShareClass1 2023-04-30 11843421 bus:OrdinaryShareClass2 2023-04-30 11843421 bus:OrdinaryShareClass3 2023-04-30 11843421 2022-05-01 2023-04-30 11843421 bus:FullAccounts 2022-05-01 2023-04-30 11843421 bus:SmallEntities 2022-05-01 2023-04-30 11843421 bus:AuditExemptWithAccountantsReport 2022-05-01 2023-04-30 11843421 bus:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 11843421 bus:Director1 2022-05-01 2023-04-30 11843421 bus:Director2 2022-05-01 2023-04-30 11843421 core:ComputerEquipment core:TopRangeValue 2022-05-01 2023-04-30 11843421 2021-05-01 2022-04-30 11843421 core:ComputerEquipment 2022-05-01 2023-04-30 11843421 bus:OrdinaryShareClass1 2022-05-01 2023-04-30 11843421 bus:OrdinaryShareClass1 2021-05-01 2022-04-30 11843421 bus:OrdinaryShareClass2 2022-05-01 2023-04-30 11843421 bus:OrdinaryShareClass2 2021-05-01 2022-04-30 11843421 bus:OrdinaryShareClass3 2022-05-01 2023-04-30 11843421 bus:OrdinaryShareClass3 2021-05-01 2022-04-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 11843421 (England and Wales)

IMP SOFTWARE LTD

Unaudited Financial Statements
For the financial year ended 30 April 2023
Pages for filing with the registrar

IMP SOFTWARE LTD

Unaudited Financial Statements

For the financial year ended 30 April 2023

Contents

IMP SOFTWARE LTD

STATEMENT OF FINANCIAL POSITION

As at 30 April 2023
IMP SOFTWARE LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 April 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 19,709 7,456
19,709 7,456
Current assets
Debtors 4 1,057,704 452,467
Cash at bank and in hand 1,921,901 794,651
2,979,605 1,247,118
Creditors: amounts falling due within one year 5 ( 2,778,901) ( 1,246,967)
Net current assets 200,704 151
Total assets less current liabilities 220,413 7,607
Creditors: amounts falling due after more than one year 6 ( 86,704) ( 123,468)
Provision for liabilities ( 4,320) 0
Net assets/(liabilities) 129,389 ( 115,861)
Capital and reserves
Called-up share capital 7 20,111 20,111
Profit and loss account 109,278 ( 135,972 )
Total shareholders' funds/(deficit) 129,389 ( 115,861)

For the financial year ending 30 April 2023 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 IMP Software Ltd (registered number: 11843421) were approved and authorised for issue by the Director on 16 October 2023. They were signed on its behalf by:

David Peter Hall
Director
IMP SOFTWARE LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2023
IMP SOFTWARE LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2023
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

IMP Software Ltd (the Company) is a private company, limited by shares, 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 2nd Floor, Stratus House Emperor Way, Exeter Business Park, Exeter, EX1 3QS, England, United Kingdom. The principal place of business is Dean Clarke House, Southernhay East, Exeter, EX1 1AP.

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.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for 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.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings 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
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Computer equipment 3 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.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

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 Statement of Income and Retained Earnings as described below.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

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.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 37 23

3. Tangible assets

Computer equipment Total
£ £
Cost
At 01 May 2022 24,602 24,602
Additions 26,054 26,054
At 30 April 2023 50,656 50,656
Accumulated depreciation
At 01 May 2022 17,146 17,146
Charge for the financial year 13,801 13,801
At 30 April 2023 30,947 30,947
Net book value
At 30 April 2023 19,709 19,709
At 30 April 2022 7,456 7,456

4. Debtors

2023 2022
£ £
Trade debtors 936,225 351,252
Prepayments 121,479 92,510
Other debtors 0 8,705
1,057,704 452,467

5. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 0 9,730
Trade creditors 38,668 53,180
Amounts owed to directors 809 348
Accruals and deferred income 2,409,190 1,072,473
Corporation tax 74,995 0
Other taxation and social security 248,871 111,236
Other creditors 6,368 0
2,778,901 1,246,967

6. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 0 31,463
Deferred income 86,704 92,005
86,704 123,468

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
1,000,000 A ordinary shares of £ 0.01 each 10,000 10,000
1,000,000 B ordinary shares of £ 0.01 each 10,000 10,000
11,112 C ordinary shares of £ 0.01 each 111 111
20,111 20,111

8. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

2023 2022
£ £
- within one year 5,700 0

Pensions

The Company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.

2023 2022
£ £
Unpaid contributions due to the fund (inc. in other creditors) 5,812 0

9. Related party transactions

Transactions with the entity's directors

2023 2022
£ £
Dividends 195,000 0

During the period the directors maintained loan accounts with the company. At the period end the company owed the directors £809 (2022: £348). Interest is charged on the loans at the approved rate when overdrawn and there are no set repayment terms.