Caseware UK (AP4) 2022.0.179 2022.0.179 2023-08-312023-08-31false2022-09-01Holding company00falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 11869316 2022-09-01 2023-08-31 11869316 2021-09-01 2022-08-31 11869316 2023-08-31 11869316 2022-08-31 11869316 c:Director1 2022-09-01 2023-08-31 11869316 d:CurrentFinancialInstruments 2023-08-31 11869316 d:CurrentFinancialInstruments 2022-08-31 11869316 d:Non-currentFinancialInstruments 2023-08-31 11869316 d:Non-currentFinancialInstruments 2022-08-31 11869316 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 11869316 d:CurrentFinancialInstruments d:WithinOneYear 2022-08-31 11869316 d:Non-currentFinancialInstruments d:AfterOneYear 2023-08-31 11869316 d:Non-currentFinancialInstruments d:AfterOneYear 2022-08-31 11869316 d:ShareCapital 2023-08-31 11869316 d:ShareCapital 2022-08-31 11869316 d:RetainedEarningsAccumulatedLosses 2023-08-31 11869316 d:RetainedEarningsAccumulatedLosses 2022-08-31 11869316 c:OrdinaryShareClass1 2022-09-01 2023-08-31 11869316 c:OrdinaryShareClass1 2023-08-31 11869316 c:OrdinaryShareClass1 2022-08-31 11869316 c:FRS102 2022-09-01 2023-08-31 11869316 c:AuditExempt-NoAccountantsReport 2022-09-01 2023-08-31 11869316 c:FullAccounts 2022-09-01 2023-08-31 11869316 c:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 11869316 6 2022-09-01 2023-08-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 11869316









IMSOLUTIONS HOLDINGS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023

 
IMSOLUTIONS HOLDINGS LIMITED
REGISTERED NUMBER: 11869316

BALANCE SHEET
AS AT 31 AUGUST 2023

2023
2022
Note
£
£

FIXED ASSETS
  

Investments
 4 
3,758,671
3,758,671

  
3,758,671
3,758,671

CURRENT ASSETS
  

Debtors: amounts falling due within one year
 5 
62,007
29,885

Cash at bank and in hand
  
16,142
25,582

  
78,149
55,467

Creditors: amounts falling due within one year
 6 
(37,660)
(597,920)

NET CURRENT ASSETS/(LIABILITIES)
  
 
 
40,489
 
 
(542,453)

TOTAL ASSETS LESS CURRENT LIABILITIES
  
3,799,160
3,216,218

Creditors: amounts falling due after more than one year
 7 
(733,900)
(1,222,900)

  

NET ASSETS
  
3,065,260
1,993,318


CAPITAL AND RESERVES
  

Called up share capital 
 8 
100
100

Profit and loss account
  
3,065,160
1,993,218

  
3,065,260
1,993,318


Page 1

 
IMSOLUTIONS HOLDINGS LIMITED
REGISTERED NUMBER: 11869316
    
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

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 by: 




S Young
Director

Date: 12 March 2024

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
IMSOLUTIONS HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

1.


GENERAL INFORMATION

IMSolutions Limited is a private Company limited by shares and incorporated in England. Its registered office is Suite C Regent House, Wolseley Road, Kempston, Bedford, England, MK42 7NY.
The Company's functional and presentational currency is GBP.

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

GOING CONCERN

The directors have prepared forecasts looking forward to 2025 and expect there to be on-going dividends paid up to IMSolutions Holdings Limited from its trading subsidiary. In completing their assessment, the directors have considered the challenging economic conditions and the potential impact of this on the demand for the services provided by the company's trading subsidiary, Incident Management Solutions Limited. Cash flow forecasting demonstrates the resilience of the trading subsidiary, which has historically generated a strong working capital surplus and is expected to do so into the future. This will enable the holding company to repay its loans and finance as they fall due, in addition to the usual working capital requirements. 
Based upon their review the directors believe the company will have sufficient resources to meet its liabilities as they fall due for the foreseeable future and therefore continue to adopt the going concern basis in preparing the financial statements.

 
2.3

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.

 
2.4

BORROWING COSTS

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

 
2.5

VALUATION OF INVESTMENTS

Investments in subsidiaries are measured at cost less accumulated impairment.

Page 3

 
IMSOLUTIONS HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.ACCOUNTING POLICIES (CONTINUED)

 
2.6

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.

 
2.7

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.

 
2.8

FINANCIAL INSTRUMENTS

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an 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.


3.


EMPLOYEES



The Company has no employees other than the directors, who did not receive any remuneration (2022 - £NIL).


4.


FIXED ASSET INVESTMENTS





Investments in subsidiary companies

£



COST


At 1 September 2022
3,758,671



At 31 August 2023
3,758,671






 

Page 4

 
IMSOLUTIONS HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

5.


DEBTORS

2023
2022
£
£


Amounts owed by group undertakings
47,938
24,246

Other debtors
14,069
5,639

62,007
29,885



6.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023
2022
£
£

Other loans
-
540,000

Other creditors
-
23,232

Accruals and deferred income
37,660
34,688

37,660
597,920


On 23 May 2019 the company issued the following loan notes:
- 1,300,000 £1 loan notes to Andrew Tunnicliffe (director) repayable in instalments from 23 November 2019. Interest is accruing at 1% per annum. At 31 August 2022 £515,000 was outstanding. The balance was repaid in full during the year.
- 1,300,000 £1 loan notes to Louise Tunnicliffe (director) repayable in instalments from 23 November 2019. Interest is accruing at 1% per annum. At 31 August 2022 £515,000 was outstanding. The balance was repaid in full during the year.
- 737,500 £1 loan notes to Simon Young (director) repayment on 23 May 2029. Interest is accruing at 1% per annum. At the year end, a balance of £733,900 (2022 - £732,900) is outstanding.
No balance was due within one year (2022 - £540,000).

Page 5

 
IMSOLUTIONS HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

7.


CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023
2022
£
£

Other loans
733,900
1,222,900

733,900
1,222,900


On 23 May 2019 the company issued the following loan notes:
- 1,300,000 £1 loan notes to Andrew Tunnicliffe (director) repayable in instalments from 23 November 2019. Interest is accruing at 1% per annum. At 31 August 2022 £515,000 was outstanding. The balance was repaid in full during the year.
- 1,300,000 £1 loan notes to Louise Tunnicliffe (director) repayable in instalments from 23 November 2019. Interest is accruing at 1% per annum. At 31 August 2022 £515,000 was outstanding. The balance was repaid in full during the year.
- 737,500 £1 loan notes to Simon Young (director) repayment on 23 May 2029. Interest is accruing at 1% per annum. At the year end, a balance of £733,900 (2022 - £732,900) is outstanding.
The Other loans balance of £733,900 (2022 - £1,222,900) represents the amounts falling due after more than one year of these loan notes.


8.


SHARE CAPITAL

2023
2022
£
£
ALLOTTED, CALLED UP AND FULLY PAID



1,000 (2022 - 1,000) Ordinary shares of £0.10 each
100
100


 
Page 6