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COMPANY REGISTRATION NUMBER: 7890586
INCHORA LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED
31 July 2024
INCHORA LIMITED
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
31 July 2024
31 Jul 24
31 Mar 23
(restated)
Note
£
£
£
Fixed assets
Intangible assets excluding negative goodwill
268,542
1,125,058
Negative goodwill
( 389,172)
( 355,241)
---------
------------
Intangible assets
6
( 120,630)
769,817
Tangible assets
7
180,291
---------
---------
( 120,630)
950,108
Current assets
Debtors
9
4,219,885
3,978,781
Cash at bank and in hand
49,777
72,446
------------
------------
4,269,662
4,051,227
Creditors: amounts falling due within one year
11
( 3,573,887)
( 2,395,408)
------------
------------
Net current assets
695,775
1,655,819
---------
------------
Total assets less current liabilities
575,145
2,605,927
Creditors: amounts falling due after more than one year
12
( 13,700,213)
( 13,396,880)
Provisions
Other provisions
( 997,185)
( 883,232)
-------------
-------------
Net liabilities
( 14,122,253)
( 11,674,185)
-------------
-------------
Capital and reserves
Called up share capital
25,001,104
25,001,104
Share premium account
2,085,072
2,085,072
Capital redemption reserve
313
313
Profit and loss account
( 40,521,360)
( 37,876,753)
-------------
-------------
Equity attributable to the owners of the parent company
( 13,434,871)
( 10,790,264)
Non-controlling interests
( 687,382)
( 883,921)
-------------
-------------
( 14,122,253)
( 11,674,185)
-------------
-------------
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 consolidated income statement has not been delivered.
INCHORA LIMITED
CONSOLIDATED STATEMENT OF FINANCIAL POSITION (continued)
31 July 2024
For the period ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act 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 23 May 2025 , and are signed on behalf of the board by:
A M Bascombe
Director
Company registration number: 7890586
INCHORA LIMITED
COMPANY STATEMENT OF FINANCIAL POSITION
31 July 2024
31 Jul 24
31 Mar 23
(restated)
Note
£
£
£
Fixed assets
Intangible assets
( 195,338)
Tangible assets
7
93,430
Investments
8
2,500,953
----
------------
2,399,045
Current assets
Debtors
9
3,096,848
28,325,169
Investments
10
500,000
Cash at bank and in hand
5,749
2,214
------------
-------------
3,602,597
28,327,383
Creditors: amounts falling due within one year
11
( 841,968)
( 7,320,299)
------------
-------------
Net current assets
2,760,629
21,007,084
------------
-------------
Total assets less current liabilities
2,760,629
23,406,129
Creditors: amounts falling due after more than one year
12
( 13,596,046)
( 13,126,046)
-------------
-------------
Net (liabilities)/assets
( 10,835,417)
10,280,083
-------------
-------------
Capital and reserves
Called up share capital
25,001,104
25,001,104
Share premium account
2,085,072
2,085,072
Capital redemption reserve
313
313
Profit and loss account
( 37,921,906)
( 16,806,406)
-------------
-------------
Shareholders (deficit)/funds
( 10,835,417)
10,280,083
-------------
-------------
The loss for the financial period of the parent company was £ 21,310,838 (2023: £ 3,485,094 ).
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'.
For the period ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
INCHORA LIMITED
COMPANY STATEMENT OF FINANCIAL POSITION (continued)
31 July 2024
These financial statements were approved by the board of directors and authorised for issue on 23 May 2025 , and are signed on behalf of the board by:
A M Bascombe
Director
Company registration number: 7890586
INCHORA LIMITED
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
PERIOD FROM 1 APRIL 2023 TO 31 JULY 2024
Called up share capital
Share premium account
Capital redemption reserve
Profit and loss account
Equity attributable to the owners of the parent company
Non-controlling interests
Total
£
£
£
£
£
£
£
At 31 March 2022
25,001,104
2,085,072
313
( 36,491,500)
( 9,405,011)
( 9,405,011)
Loss for the period
( 1,385,253)
( 1,385,253)
593,684
( 791,569)
-------------
------------
----
-------------
------------
---------
------------
Total comprehensive income for the period
( 1,385,253)
( 1,385,253)
593,684
( 791,569)
Acquisition of subsidiary with minority interest
( 1,477,605)
( 1,477,605)
-------------
------------
----
-------------
------------
------------
------------
Total investments by and distributions to owners
( 1,477,605)
( 1,477,605)
At 31 March 2023
25,001,104
2,085,072
313
( 37,876,753)
( 10,790,264)
( 883,921)
( 11,674,185)
Loss for the period
( 2,644,607)
( 2,644,607)
196,539
( 2,448,068)
-------------
------------
----
-------------
-------------
------------
-------------
Total comprehensive income for the period
( 2,644,607)
( 2,644,607)
196,539
( 2,448,068)
-------------
------------
----
-------------
-------------
------------
-------------
At 31 July 2024
25,001,104
2,085,072
313
( 40,521,360)
( 13,434,871)
( 687,382)
( 14,122,253)
-------------
------------
----
-------------
-------------
------------
-------------
INCHORA LIMITED
COMPANY STATEMENT OF CHANGES IN EQUITY
PERIOD FROM 1 APRIL 2023 TO 31 JULY 2024
Called up share capital
Share premium account
Capital redemption reserve
Profit and loss account
Total
£
£
£
£
£
At 31 March 2022
25,001,104
2,085,072
313
( 13,321,312)
13,765,177
Loss for the period
( 3,485,094)
( 3,485,094)
-------------
------------
----
-------------
-------------
Total comprehensive income for the period
( 3,485,094)
( 3,485,094)
At 31 March 2023
25,001,104
2,085,072
313
(16,611,068)
10,475,421
Loss for the period
( 21,310,838)
( 21,310,838)
-------------
------------
----
-------------
-------------
Total comprehensive income for the period
( 21,310,838)
( 21,310,838)
-------------
------------
----
-------------
-------------
At 31 July 2024
25,001,104
2,085,072
313
( 37,921,906)
( 10,835,417)
-------------
------------
----
-------------
-------------
INCHORA LIMITED
NOTES TO THE FINANCIAL STATEMENTS
PERIOD FROM 1 APRIL 2023 TO 31 JULY 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 The Stables, Peper Harow, Godalming, GU8 6BQ.
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 and in sterling, which is the functional currency of the entity.
Going concern
Since the period end, the company has sold or closed certain subsidiaries such that it now in effect owns a single business that is profitable, cash generative and is forecast to continue to be so over the coming year. For this reason, the directors are of the opinion they can meet liabilities as they fall due for payment for a period of at least 12 months from the date of the financial statements being approved and have therefore have prepared the financial statements on a going concern basis.
Disclosure exemptions
The parent company satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following reduced disclosures available under FRS 102:
(a) Disclosures in respect of each class of share capital have not been presented.
(b) No cash flow statement has been presented for the company.
(c) Disclosures in respect of financial instruments have not been presented.
(d) No disclosure has been given for the aggregate remuneration of key management personnel.
Consolidation
The consolidated financial statements incorporate the financial statements of the company and all group undertakings. These are adjusted, where appropriate, to conform to group accounting policies. Acquisitions are accounted for under the acquisition method and goodwill on consolidation is capitalised and written off over ten years from the year of acquisition. The results of companies acquired or disposed of are included in the profit and loss account after or up to the date that control passes respectively. As a consolidated profit and loss account is published, a separate profit and loss account for the parent company is omitted from the group financial statements by virtue of section 408 of the Companies Act 2006.
Non-controlling interests
Minority interests in the net assets of consolidated subsidiaries are identified separately from the Group’s equity. Minority interests consist of the amount of those interests at the date of the original business combination and the minority’s share of changes in equity since the date of the combination.
The proportions of profit or loss and changes in equity allocated to the owners of the parent and to the minority interests are determined on the basis of existing ownership interests and do not reflect the possible exercise or conversion of options or convertible instruments.
INCHORA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (continued)
PERIOD FROM 1 APRIL 2023 TO 31 JULY 2024
3. Accounting policies (continued)
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. The actual outcome may diverge from these estimates if other assumptions are made, or other conditions arise. - Significant judgements The judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as follows: (i) Revenue recognition - As detailed in the revenue recognition policy management have recognised commissions, less finance gains, received on the sales of both Indemnity and Non-Indemnity products on inception of the policy. (ii) Preference shares - Included in share capital are 3% cumulative preference shares which are treated as equity as there is no redemption date. (iii) For the companies sold after the year end, in the Inchora company accounts, management have estimated the recoverable value of the financial instruments issued on the disposals. - Key sources of estimation uncertainty Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year relate to provisions and the details are as follows: (i) Commissions on indemnity based policies - management are required to make an estimate of potential clawbacks of commissions received on policies which lapse or are subsequently cancelled by the policyholder. At 31 July 2024 this provision amounted to £602,444 (2023 - £681,644). (ii) Commissions on non-indemnity based insurance policies - management are required to make an estimate of commissions which will not be received on policies which lapse or are subsequently cancelled by the policyholder. Management have used their best estimate to provide for these and have applied percentage rates depending upon when the insurance policy was sold and the expected life of the policy. This provision has been discounted at a rate of 4.75% (2023 - 4.75%) to account for the delay in in receiving funds. The value of this provision is £280,788 (2023 - £201,588).
Revenue recognition
The revenue is shown in the profit and loss account represents the value of work done during the period, exclusive of Value Added Tax. Revenue is recognised at the point at which the company has fulfilled its contractual obligations and the risks and rewards attaching to the sale have been transferred to the customer. Revenue is recognised on both indemnity and non-indemnity insurance policies at the commencement of the policy. The financing element of the policy is recognised as a gain on financial instruments. For details of provisions against this insurance policy income refer to the judgements and key sources of estimation uncertainty policy.
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 material 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.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
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. Lease income is recognised in profit or loss on a straight line basis over the lease term. The aggregate cost of lease incentives are recognised as a reduction to income over the lease term on a straight-line basis. Costs, including depreciation, incurred in earning the lease income are recognised as an expense. Any initial direct costs incurred in negotiating and arranging the operating lease are added to the carrying amount of the lease and recognised as an expense over the lease term on the same basis as the lease income.
Goodwill
Positive and negative purchased goodwill arising on acquisitions is capitalised, classified as an asset on the Balance Sheet and amortised over its useful economic life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years. Useful economic lives are reviewed at the end of each reporting period and revised if necessary, subject to the constraint that the revised life shall not exceed ten years from the acquisition date. The carrying amount at the date of revision is depreciated over the revised estimate of remaining useful economic life.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
10% straight line
Development Costs
-
Over 5-10 years
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Research and development
Research expenditure is written off in the period in which it is incurred. Development expenditure incurred is capitalised as an intangible asset only when all of the following criteria are met: - It is technically feasible to complete the intangible asset so that it will be available for use or sale; - There is the intention to complete the intangible asset and use or sell it; - There is the ability to use or sell the intangible asset; - The use or sale of the intangible asset will generate probable future economic benefits; - There are adequate technical, financial and other resources available to complete the development and to use or sell the intangible asset; - The expenditure attributable to the intangible asset during its development can be measured reliably. Expenditure that does not meet the above criteria is expensed as incurred.
Tangible assets
Tangible assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes the original purchase price, costs directly attributable to bringing the asset to its working condition for its intended use, dismantling and restoration costs and borrowing costs capitalised.
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:
Fixtures & Fittings
-
33% straight line or over the term of the lease
Computer Equipment
-
33% straight line
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
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.
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.
Financial instruments
The group only holds basic financial instruments as defined in FRS 102. The financial assets and financial liabilities of the company and their measurement basis are as follows: Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Cash at bank is classified as a basic financial instrument and is measured at amortised cost. Financial liabilities - trade creditors, accruals and other creditors are financial instruments, and are measured at amortised cost. Taxation and social security are not included in the financial instruments disclosure definition.
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.
4. Exceptional item
The exceptional item on the face of the income statement relates to impairments and balances written off on the liquidation of subsidiary companies.
5. Employee numbers
The average number of persons employed by the company during the period amounted to 58 (2023: 105 ).
6. Intangible assets
Group
Goodwill
Development costs
Total
£
£
£
Cost
At 1 April 2023 (as restated)
1,995,130
2,174,501
4,169,631
Additions
1,042,460
1,042,460
Disposals
( 371,136)
( 371,136)
------------
------------
------------
At 31 July 2024
1,995,130
2,845,825
4,840,955
------------
------------
------------
Amortisation
At 1 April 2023
2,350,371
1,049,443
3,399,814
Charge for the period
11,352
652,690
664,042
Disposals
( 371,136)
( 371,136)
Impairment losses
22,579
1,246,286
1,268,865
------------
------------
------------
At 31 July 2024
2,384,302
2,577,283
4,961,585
------------
------------
------------
Carrying amount
At 31 July 2024
( 389,172)
268,542
( 120,630)
------------
------------
------------
At 31 March 2023
( 355,241)
1,125,058
769,817
------------
------------
------------
The company has no intangible assets.
7. Tangible assets
Group
Fixtures and fittings
Computer Equipment
Total
£
£
£
Cost
At 1 April 2023 (as restated)
351,355
179,725
531,080
Additions
8,120
474
8,594
Disposals
( 1,270)
( 1,270)
---------
---------
---------
At 31 July 2024
358,205
180,199
538,404
---------
---------
---------
Depreciation
At 1 April 2023
245,697
105,092
350,789
Charge for the period
62,839
31,053
93,892
Disposals
( 1,270)
( 1,270)
Impairment losses
50,939
44,054
94,993
---------
---------
---------
At 31 July 2024
358,205
180,199
538,404
---------
---------
---------
Carrying amount
At 31 July 2024
---------
---------
---------
At 31 March 2023
105,658
74,633
180,291
---------
---------
---------
Company
Fixtures and fittings
Computer Equipment
Total
£
£
£
Cost
At 1 April 2023 (as restated)
93,312
55,612
148,924
Additions
8,120
8,120
---------
--------
---------
At 31 July 2024
101,432
55,612
157,044
---------
--------
---------
Depreciation
At 1 April 2023
30,889
24,605
55,494
Charge for the period
26,625
14,829
41,454
Impairment losses
43,918
16,178
60,096
---------
--------
---------
At 31 July 2024
101,432
55,612
157,044
---------
--------
---------
Carrying amount
At 31 July 2024
---------
--------
---------
At 31 March 2023
62,423
31,007
93,430
---------
--------
---------
8. Investments
The group has no investments.
Company
Shares in group undertakings
£
Cost
At 1 April 2023 as restated
5,616,010
Disposals
( 997,991)
Transfers
(500,000)
------------
At 31 July 2024
4,118,019
------------
Impairment
At 1 April 2023 as restated
3,115,057
Disposals
( 997,691)
Impairment losses
2,000,653
------------
At 31 July 2024
4,118,019
------------
Carrying amount
At 31 July 2024
------------
At 31 March 2023
2,500,953
------------
Subsidiaries, associates and other investments
Details of the investments in which the parent company has an interest of 20% or more are as follows:
Class of share
Percentage of shares held
Subsidiary undertakings
Cignpost Advised Ltd (formerly Albany Park Ltd)
Ordinary
100
Cignpost Financial Services Ltd (formerly Tenant Shop Financial Services Ltd (dormant))
Ordinary
100
Tenant Shop CC Ltd
Ordinary
100
Cignpost Ltd (formerly Farnborough Place Ltd)
Ordinary
100
Tenant Shop Services Ltd
Ordinary
100
Regent Marketing Ltd (dormant)
Ordinary
69
Conectia Ltd
Ordinary
69
All of the above companies are based in the UK, have been consolidated in the group accounts and share the same registered office as Inchora Ltd as at 31 July 2024. At 31 July 2024 the company also owned 100% of the issued ordinary share capital of a number of dormant or insignificant companies which have been excluded from consolidation as they are highly immaterial to the group. Investments held by the company in companies sold shortly after the year end have been impaired to £500,000 and they have been shown in current assets. The remaining fixed asset investments held by the group do not have any carrying value.
9. Debtors
Group
Company
31 Jul 24
31 Mar 23
31 Jul 24
31 Mar 23
(restated)
(restated)
£
£
£
£
Trade debtors
357,893
276,148
8,090
31,943
Amounts owed by group undertakings and undertakings in which the company has a participating interest
1,828,949
27,755,590
Other debtors
3,861,992
3,702,633
1,259,809
537,636
------------
------------
------------
-------------
4,219,885
3,978,781
3,096,848
28,325,169
------------
------------
------------
-------------
The debtors above include the following amounts falling due after more than one year:
Group
Company
31 Jul 24
31 Mar 23
31 Jul 24
31 Mar 23
(restated)
(restated)
£
£
£
£
Other debtors
517,510
994,446
117,785
---------
---------
----
---------
Included within prepayments and accrued income is accrued income on insurance policies of £1,665,351 (2023 - £2,641,031). The majority shareholder has taken an unregistered charge over this debt.
10. Investments
Group
Company
31 Jul 24
31 Mar 23
31 Jul 24
31 Mar 23
(restated)
(restated)
£
£
£
£
Investments in group undertakings
500,000
----
----
---------
----
11. Creditors: amounts falling due within one year
Group
Company
31 Jul 24
31 Mar 23
31 Jul 24
31 Mar 23
(restated)
(restated)
£
£
£
£
Bank loans and overdrafts
125,000
125,000
Trade creditors
674,713
327,470
249,861
120,811
Amounts owed to group undertakings and undertakings in which the company has a participating interest
400,000
7,033,140
Social security and other taxes
1,086,892
470,693
162,478
21,932
Other creditors
1,687,282
1,472,245
29,629
144,416
------------
------------
---------
------------
3,573,887
2,395,408
841,968
7,320,299
------------
------------
---------
------------
Natwest Bank plc hold fixed and floating charges over the assets of Inchora Ltd, Conectia Ltd and Cignpost Ltd. This is in relation to credit card liabilities.
Included within bank loans is a Coronavirus Business Interruption Loan totalling £125,000 (2023 - £125,000) from Natwest Bank plc which has a repayment term of 6 years.
12. Creditors: amounts falling due after more than one year
Group
Company
31 Jul 24
31 Mar 23
31 Jul 24
31 Mar 23
(restated)
(restated)
£
£
£
£
Bank loans and overdrafts
104,167
270,834
Shareholder loans
13,596,046
13,126,046
13,596,046
13,126,046
-------------
-------------
-------------
-------------
13,700,213
13,396,880
13,596,046
13,126,046
-------------
-------------
-------------
-------------
The bank loan is a Coronavirus Business Interruption Loan from Natwest Bank plc which has a repayment term of 6 years. Shareholder loans are due for repayment on 30 June 2026.
13. Prior period adjustment
A prior period adjustment has been made to fully impair the software development costs in a subsidiary company. There is no tax effect.
14. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
Group
Company
31 Jul 24
31 Mar 23
31 Jul 24
31 Mar 23
(restated)
(restated)
£
£
£
£
Not later than 1 year
100,775
215,160
85,775
204,160
Later than 1 year and not later than 5 years
6,105
138,828
3,605
120,578
---------
---------
--------
---------
106,880
353,988
89,380
324,738
---------
---------
--------
---------
15. Events after the end of the reporting period
On 1 August 2024 Inchora Limited disposed of its interests in Cignpost Limited, Cignpost Advised Limited, Cignpost Financial Services Limited, Tenant Shop Services Limited and Tenant Shop CC Limited. The companies were sold for a combination of shares and loan notes.
16. Related party transactions
Group
The group was under the control of C Wallis throughout the current and previous year. During the year the following significant transactions occurred with related parties:- Group transactions Related party transactions and balances between wholly owned group entities which are eliminated on consolidation are not disclosed under the exemption available in FRS 102 Section 1A. Group and Company transactions During the year the group had the following related party transactions: Entities with control, joint control or significant influence over the entity: Turnover/rents received of £62,000 (2023 - £422,447) Closing amounts owed to the group £nil (2023 - £325,000) No other transactions with related parties were undertaken such as are required to be disclosed under FRS 102 Section 1A.