Caseware UK (AP4) 2022.0.179 2022.0.179 2023-08-312023-08-31true2022-09-01falseThe principal activity of the Company during the year continued to be that of an intermediary in motor vehicle insurance claims.9787trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 05851261 2022-09-01 2023-08-31 05851261 2021-09-01 2022-08-31 05851261 2023-08-31 05851261 2022-08-31 05851261 c:Director2 2022-09-01 2023-08-31 05851261 d:MotorVehicles 2022-09-01 2023-08-31 05851261 d:MotorVehicles 2023-08-31 05851261 d:MotorVehicles 2022-08-31 05851261 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 05851261 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2022-09-01 2023-08-31 05851261 d:OfficeEquipment 2022-09-01 2023-08-31 05851261 d:OfficeEquipment 2023-08-31 05851261 d:OfficeEquipment 2022-08-31 05851261 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 05851261 d:OfficeEquipment d:LeasedAssetsHeldAsLessee 2022-09-01 2023-08-31 05851261 d:ComputerEquipment 2022-09-01 2023-08-31 05851261 d:ComputerEquipment 2023-08-31 05851261 d:ComputerEquipment 2022-08-31 05851261 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 05851261 d:ComputerEquipment d:LeasedAssetsHeldAsLessee 2022-09-01 2023-08-31 05851261 d:OtherPropertyPlantEquipment 2022-09-01 2023-08-31 05851261 d:OtherPropertyPlantEquipment 2023-08-31 05851261 d:OtherPropertyPlantEquipment 2022-08-31 05851261 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 05851261 d:OtherPropertyPlantEquipment d:LeasedAssetsHeldAsLessee 2022-09-01 2023-08-31 05851261 d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 05851261 d:LeasedAssetsHeldAsLessee 2022-09-01 2023-08-31 05851261 d:CurrentFinancialInstruments 2023-08-31 05851261 d:CurrentFinancialInstruments 2022-08-31 05851261 d:Non-currentFinancialInstruments 2023-08-31 05851261 d:Non-currentFinancialInstruments 2022-08-31 05851261 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 05851261 d:CurrentFinancialInstruments d:WithinOneYear 2022-08-31 05851261 d:Non-currentFinancialInstruments d:AfterOneYear 2023-08-31 05851261 d:Non-currentFinancialInstruments d:AfterOneYear 2022-08-31 05851261 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-08-31 05851261 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-08-31 05851261 d:ShareCapital 2023-08-31 05851261 d:ShareCapital 2022-08-31 05851261 d:SharePremium 2023-08-31 05851261 d:SharePremium 2022-08-31 05851261 d:RetainedEarningsAccumulatedLosses 2023-08-31 05851261 d:RetainedEarningsAccumulatedLosses 2022-08-31 05851261 d:AcceleratedTaxDepreciationDeferredTax 2023-08-31 05851261 d:AcceleratedTaxDepreciationDeferredTax 2022-08-31 05851261 d:TaxLossesCarry-forwardsDeferredTax 2023-08-31 05851261 d:TaxLossesCarry-forwardsDeferredTax 2022-08-31 05851261 c:OrdinaryShareClass1 2022-09-01 2023-08-31 05851261 c:OrdinaryShareClass1 2023-08-31 05851261 c:OrdinaryShareClass1 2022-08-31 05851261 c:FRS102 2022-09-01 2023-08-31 05851261 c:AuditExempt-NoAccountantsReport 2022-09-01 2023-08-31 05851261 c:FullAccounts 2022-09-01 2023-08-31 05851261 c:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 05851261 d:WithinOneYear 2023-08-31 05851261 d:WithinOneYear 2022-08-31 05851261 d:BetweenOneFiveYears 2023-08-31 05851261 d:BetweenOneFiveYears 2022-08-31 05851261 d:HirePurchaseContracts d:WithinOneYear 2023-08-31 05851261 d:HirePurchaseContracts d:WithinOneYear 2022-08-31 05851261 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-08-31 05851261 d:HirePurchaseContracts d:BetweenOneFiveYears 2022-08-31 05851261 2 2022-09-01 2023-08-31 05851261 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-08-31 05851261 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2022-08-31 05851261 d:LeasedAssetsHeldAsLessee 2023-08-31 05851261 d:LeasedAssetsHeldAsLessee 2022-08-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 05851261









INCIDENT MANAGEMENT SOLUTIONS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023

 
INCIDENT MANAGEMENT SOLUTIONS LIMITED
REGISTERED NUMBER: 05851261

BALANCE SHEET
AS AT 31 AUGUST 2023

2023
2022
Note
£
£

FIXED ASSETS
  

Tangible assets
 4 
514,192
270,773

  
514,192
270,773

CURRENT ASSETS
  

Debtors: amounts falling due within one year
 5 
1,398,534
1,408,474

Cash at bank and in hand
  
1,127,454
991,335

  
2,525,988
2,399,809

Creditors: amounts falling due within one year
 6 
(1,857,903)
(1,773,316)

NET CURRENT ASSETS
  
 
 
668,085
 
 
626,493

TOTAL ASSETS LESS CURRENT LIABILITIES
  
1,182,277
897,266

Creditors: amounts falling due after more than one year
 7 
(244,916)
(162,571)

PROVISIONS FOR LIABILITIES
  

Deferred tax
 10 
(90,982)
(49,001)

NET ASSETS
  
846,379
685,694


CAPITAL AND RESERVES
  

Called up share capital 
 11 
1,000
1,000

Share premium account
  
15,000
15,000

Profit and loss account
  
830,379
669,694

  
846,379
685,694


Page 1

 
INCIDENT MANAGEMENT SOLUTIONS LIMITED
REGISTERED NUMBER: 05851261
    
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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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 12 form part of these financial statements.

Page 2

 
INCIDENT MANAGEMENT SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

1.


GENERAL INFORMATION

Incident Management Solutions Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is Suite C Regent House Wolseley Road, Woburn Industrial Estate, Kempston, Bedford, England, MK42 7JY.
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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The financial statements were prepared in accordance with Financial Reporting Standard 102 in the prior year. On transition to Section 1A of Financial Reporting Standard 102, there have been no changes in accounting policy or adjustments required to financial position or performance.

The following principal accounting policies have been applied:

 
2.2

GOING CONCERN

The directors have prepared forecasts looking forward to 2025 and have considered trading beyond this. In completing their assessment, the directors have considered the challenging economic conditions and the potential impact of this on the demand for the company's services. Cash flow forecasting demonstrates the resilience of the business, which has historically generated a strong working capital surplus and is expected to do so into the future. This will enable the 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.

Page 3

 
INCIDENT MANAGEMENT SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.ACCOUNTING POLICIES (CONTINUED)

 
2.3

FOREIGN CURRENCY TRANSLATION

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.4

TURNOVER

Turnover comprises revenue recognised by the Company in respect of claim handling fees and commission revenue, exclusive of Value Added Tax.

 
2.5

OPERATING LEASES: THE COMPANY AS LESSEE

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.6

INTEREST INCOME

Interest income is recognised in profit or loss using the effective interest method.

 
2.7

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.

 
2.8

BORROWING COSTS

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

Page 4

 
INCIDENT MANAGEMENT SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.ACCOUNTING POLICIES (CONTINUED)

 
2.9

PENSIONS

DEFINED CONTRIBUTION PENSION PLAN

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.10

CURRENT AND DEFERRED TAXATION

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.11

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 5

 
INCIDENT MANAGEMENT SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.ACCOUNTING POLICIES (CONTINUED)


2.11
TANGIBLE FIXED ASSETS (CONTINUED)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Motor vehicles
-
25%
straight-line
Office equipment
-
25%
straight-line
Computer equipment
-
25%
straight-line
Leasehold improvements
-
20%
straight-line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.12

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.

 
2.13

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.14

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.

 
2.15

PROVISIONS FOR LIABILITIES

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.16

DIVIDENDS

Equity dividends are recognised when they become legally payable.

Page 6

 
INCIDENT MANAGEMENT SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 97 (2022 - 87).


4.


TANGIBLE FIXED ASSETS





Motor vehicles
Office equipment
Computer equipment
Other fixed assets
Total

£
£
£
£
£



COST


At 1 September 2022
371,623
59,764
24,820
38,116
494,323


Additions
391,222
24,006
9,250
3,038
427,516


Disposals
(195,330)
(10,927)
-
-
(206,257)



At 31 August 2023

567,515
72,843
34,070
41,154
715,582



DEPRECIATION


At 1 September 2022
148,010
48,833
14,348
12,359
223,550


Charge for the year on owned assets
12,448
11,331
4,893
4,385
33,057


Charge for the year on financed assets
78,021
-
-
-
78,021


Disposals
(122,311)
(10,927)
-
-
(133,238)



At 31 August 2023

116,168
49,237
19,241
16,744
201,390



NET BOOK VALUE



At 31 August 2023
451,347
23,606
14,829
24,410
514,192



At 31 August 2022
223,613
10,931
10,472
25,757
270,773

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2023
2022
£
£



Motor vehicles
344,151
223,616

344,151
223,616

Page 7

 
INCIDENT MANAGEMENT SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

5.


DEBTORS

2023
2022
£
£


Trade debtors
1,303,688
1,178,235

Other debtors
4,727
5,156

Prepayments and accrued income
90,119
107,875

Tax recoverable
-
117,208

1,398,534
1,408,474



6.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023
2022
£
£

Bank overdrafts
-
405,665

Other loans
1,305
14,895

Trade creditors
947,685
798,457

Amounts owed to group undertakings
47,938
24,246

Corporation tax
292,923
189,512

Other taxation and social security
371,239
237,482

Obligations under finance lease and hire purchase contracts
48,073
28,664

Other creditors
47,316
22,212

Accruals and deferred income
101,424
52,183

1,857,903
1,773,316


In 2020 the Company agreed to a four year loan of £61,800 to provide funding for growth. The facility is unsecured and is repayable in equal installments. Included within other loans due within one year is a balance of £1,305 (2022 - £14,895). Interest is charged at 0.38% per month.
Obligations due under finance leases and hire purchase contracts are secured on the related assets acquired.
Pension contributions totalling £22,141 (2022 - £10,281) were payable to the fund at the balance sheet date and are included in other creditors.

Page 8

 
INCIDENT MANAGEMENT SOLUTIONS 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
-
2,806

Net obligations under finance leases and hire purchase contracts
244,916
159,765

244,916
162,571


In 2020 the Company agreed to a 4 year loan of £61,800 to provide funding for growth. The facility is unsecured and is repayable in equal installments. Included within Other loans due after more than one year as at 31 August 2022 was a balance of £2,806. Interest is charged at 0.38% per month. No balance is due in more than one year at 31 August 2023.
Obligations due under finance leases and hire purchase contracts are secured on the related assets acquired.


8.


LOANS


Analysis of the maturity of loans is given below:


2023
2022
£
£

AMOUNTS FALLING DUE WITHIN ONE YEAR

Other loans
1,305
14,895


1,305
14,895

AMOUNTS FALLING DUE 1-2 YEARS

Other loans
-
2,806


-
2,806



1,305
17,701


Page 9

 
INCIDENT MANAGEMENT SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

9.


HIRE PURCHASE AND FINANCE LEASES


Minimum lease payments under hire purchase fall due as follows:

2023
2022
£
£


Within one year
48,073
28,664

Between 1-5 years
244,916
159,765

292,989
188,429

Page 10

 
INCIDENT MANAGEMENT SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

10.


DEFERRED TAXATION




2023


£






At beginning of year
49,001


Charged to profit or loss
41,981



AT END OF YEAR
90,982

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Fixed asset timing differences
95,069
50,272

Short-term timing differences
(4,087)
(1,271)

90,982
49,001


11.


SHARE CAPITAL

2023
2022
£
£
ALLOTTED, CALLED UP AND FULLY PAID



500 (2022 - 500) Ordinary shares of £2.00 each
1,000
1,000



12.


COMMITMENTS UNDER OPERATING LEASES

At 31 August 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
76,500
66,000

Later than 1 year and not later than 5 years
9,000
71,500

85,500
137,500

Page 11

 
INCIDENT MANAGEMENT SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

13.


RELATED PARTY TRANSACTIONS

The company has taken the exemption from disclosing transactions entered into between group companies granted by section 33.1A of FRS 102.

 
Page 12