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COMPANY REGISTRATION NUMBER: 11668746
Impression Health & Support Apartments Ltd
Filleted Financial Statements
30 March 2024
Impression Health & Support Apartments Ltd
Statement of Financial Position
30 March 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
60,366
34,373
Current assets
Debtors
6
859,687
389,439
Cash at bank and in hand
99,075
21,840
---------
---------
958,762
411,279
Creditors: amounts falling due within one year
7
1,498,227
486,454
------------
---------
Net current liabilities
539,465
75,175
---------
--------
Total assets less current liabilities
( 479,099)
( 40,802)
Creditors: amounts falling due after more than one year
8
111,611
158,778
Provisions
7,953
4,830
---------
---------
Net liabilities
( 598,663)
( 204,410)
---------
---------
Capital and reserves
Called up share capital
9
100
100
Profit and loss account
( 598,763)
( 204,510)
---------
---------
Shareholders deficit
( 598,663)
( 204,410)
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
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.
These financial statements were approved by the board of directors and authorised for issue on 14 May 2025 , and are signed on behalf of the board by:
G J Maloney
Director
Company registration number: 11668746
Impression Health & Support Apartments Ltd
Notes to the Financial Statements
Year ended 30 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Sycamore House, Sutton Quays Business Park, Sutton Weaver, Runcorn, Cheshire, WA7 3EH.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The company has made a loss before tax of £391,130 during the financial year and has net liabilities of £598,663 at the period end. However, the financial statements have been prepared on a going concern basis following information received from the directors regarding forecasted future profits. The accounts do not include adjustments that would be necessary if the company was unable to continue as a going concern.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
15% reducing balance
Fixtures and fittings
-
20% reducing balance
Motor vehicles
-
25% reducing balance
Equipment
-
33% reducing balance
Improvements to property
-
10% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
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.
Creditors
Short term trade 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.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 60 (2023: 59 ).
5. Tangible assets
Plant and machinery
Fixtures and fittings
Motor vehicles
Equipment
Improvements to property
Total
£
£
£
£
£
£
Cost
At 1 Apr 2023
1,683
46,629
17,383
5,825
71,520
Additions
23,876
16,000
39,876
-------
--------
--------
-------
--------
---------
At 30 Mar 2024
1,683
70,505
17,383
5,825
16,000
111,396
-------
--------
--------
-------
--------
---------
Depreciation
At 1 Apr 2023
510
24,099
8,692
3,846
37,147
Charge for the year
176
9,281
2,173
653
1,600
13,883
-------
--------
--------
-------
--------
---------
At 30 Mar 2024
686
33,380
10,865
4,499
1,600
51,030
-------
--------
--------
-------
--------
---------
Carrying amount
At 30 Mar 2024
997
37,125
6,518
1,326
14,400
60,366
-------
--------
--------
-------
--------
---------
At 31 Mar 2023
1,173
22,530
8,691
1,979
34,373
-------
--------
--------
-------
--------
---------
6. Debtors
2024
2023
£
£
Trade debtors
11,268
Amounts owed by group undertakings
285,539
Corporation tax repayable
4,729
Other debtors
848,419
99,171
---------
---------
859,687
389,439
---------
---------
The debtors above include the following amounts falling due after more than one year:
2024
2023
£
£
Other debtors
150,019
---------
----
As at the year end, the directors' loan accounts were overdrawn by £444,500. This is the maximum overdrawn balance outstanding during the year.
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
47,167
47,167
Trade creditors
109,025
13,095
Amounts owed to group undertakings
1,174,924
Accruals and deferred income
21,424
33,572
Corporation tax
145,687
Social security and other taxes
227,103
Other creditors
165,517
------------
---------
1,498,227
486,454
------------
---------
There is a fixed and floating charge dated 16 September 2022 covering all property or undertaking of the company held by Cynergy Bank Limited.
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
111,611
158,778
---------
---------
9. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
----
----
----
----
10. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2024
2023
£
£
Not later than 1 year
40,084
46,830
Later than 1 year and not later than 5 years
7,262
47,346
--------
--------
47,346
94,176
--------
--------
The lease payments recognised as an expense during the year amounted to £46,830 .
11. Summary audit opinion
The auditor's report dated 14 May 2025 was unqualified , however, the auditor drew attention to the following by way of emphasis.
In forming our opinion on the financial statements, which is not qualified, we have considered the adequacy of the disclosure made in the accounting policies concerning the company's ability to continue as a going concern. The company made a net loss before tax of £391,130 during the period ended 30 March 2024 and at that date the company had net liabilities of £598,663. The other companies within Impression group have confirmed their support of the company should it be required. The financial statements do not include the adjustments that would result if the company was unable to continue as a going concern.
The senior statutory auditor was Simon McLean FCA , for and on behalf of AGP .
12. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
M Begg
294,500
294,500
G J Maloney
150,000
150,000
----
---------
---------
444,500
444,500
----
---------
---------
2023
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
M Begg
G J Maloney
----
----
----
----
----
----
13. Controlling party
100% of the issued share capital is owned by Impression Health and Support UK Limited, a company registered in England and Wales. The ultimate controlling party is M Begg by virtue of his majority shareholding in the parent company, Impression Health and Support UK Limited. Copies of the consolidated financial statements of the Impression Health and Support UK Limited group are available to the public and may be obtained from Companies House.