H has a 100% subsid S, which is soon to be liquidated and phoenixed into B (a sister compnay of H).
It's all arranged with the finance companies & to-be liquidators. I'm preparing the FRS102s1A accounts for H but presumably I can't impair S or have a PBSE note as S hasn't formally entered liquidation and won't have done prior to the filing deadline of H (which can't be extended any further)?
I want to impair S, but don't think I can ... unless someone can correct me?
(and yes, it is the same companies as in my previous question)