Caseware UK (AP4) 2021.0.152 2021.0.152 2022-06-302022-06-3022021-07-01falseNo description of principal activity3truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 09663324 2021-07-01 2022-06-30 09663324 2020-07-01 2021-06-30 09663324 2022-06-30 09663324 2021-06-30 09663324 c:Director1 2021-07-01 2022-06-30 09663324 d:PlantMachinery 2021-07-01 2022-06-30 09663324 d:PlantMachinery 2022-06-30 09663324 d:PlantMachinery 2021-06-30 09663324 d:PlantMachinery d:OwnedOrFreeholdAssets 2021-07-01 2022-06-30 09663324 d:FurnitureFittings 2021-07-01 2022-06-30 09663324 d:FurnitureFittings 2022-06-30 09663324 d:FurnitureFittings 2021-06-30 09663324 d:FurnitureFittings d:OwnedOrFreeholdAssets 2021-07-01 2022-06-30 09663324 d:OfficeEquipment 2021-07-01 2022-06-30 09663324 d:OfficeEquipment 2022-06-30 09663324 d:OfficeEquipment 2021-06-30 09663324 d:OfficeEquipment d:OwnedOrFreeholdAssets 2021-07-01 2022-06-30 09663324 d:OwnedOrFreeholdAssets 2021-07-01 2022-06-30 09663324 d:CurrentFinancialInstruments 2022-06-30 09663324 d:CurrentFinancialInstruments 2021-06-30 09663324 d:Non-currentFinancialInstruments 2022-06-30 09663324 d:Non-currentFinancialInstruments 2021-06-30 09663324 d:CurrentFinancialInstruments d:WithinOneYear 2022-06-30 09663324 d:CurrentFinancialInstruments d:WithinOneYear 2021-06-30 09663324 d:Non-currentFinancialInstruments d:AfterOneYear 2022-06-30 09663324 d:Non-currentFinancialInstruments d:AfterOneYear 2021-06-30 09663324 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-06-30 09663324 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2021-06-30 09663324 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-06-30 09663324 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2021-06-30 09663324 d:ShareCapital 2022-06-30 09663324 d:ShareCapital 2021-06-30 09663324 d:RetainedEarningsAccumulatedLosses 2022-06-30 09663324 d:RetainedEarningsAccumulatedLosses 2021-06-30 09663324 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-06-30 09663324 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2021-06-30 09663324 c:FRS102 2021-07-01 2022-06-30 09663324 c:AuditExempt-NoAccountantsReport 2021-07-01 2022-06-30 09663324 c:FullAccounts 2021-07-01 2022-06-30 09663324 c:PrivateLimitedCompanyLtd 2021-07-01 2022-06-30 iso4217:GBP xbrli:pure

Registered number: 09663324









INFINITY PROPERTY LONDON LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2022

 
INFINITY PROPERTY LONDON LTD
REGISTERED NUMBER: 09663324

BALANCE SHEET
AS AT 30 JUNE 2022

2022
2021
Note
£
£

Fixed assets
  

Tangible assets
 4 
12,090
8,068

  
12,090
8,068

Current assets
  

Stocks
 5 
1,880,383
741,768

Debtors: amounts falling due within one year
 6 
182,904
30,441

Cash at bank and in hand
 7 
7,668
165,769

  
2,070,955
937,978

Creditors: amounts falling due within one year
 8 
(2,048,458)
(1,005,529)

Net current assets/(liabilities)
  
 
 
22,497
 
 
(67,551)

Total assets less current liabilities
  
34,587
(59,483)

Creditors: amounts falling due after more than one year
 9 
(29,163)
(39,166)

  

Net assets/(liabilities)
  
5,424
(98,649)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
5,324
(98,749)

  
5,424
(98,649)


Page 1

 
INFINITY PROPERTY LONDON LTD
REGISTERED NUMBER: 09663324
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2022

The director considers 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 director acknowledges his 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 profit and loss account 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 on 2 September 2022.




Mr A Pigney
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
INFINITY PROPERTY LONDON LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2022

1.


General information

Infinity Property London Ltd is a private company, limited by shares and incorporated in England and Wales, United Kingdom, with a registration number 09663324. The address of the registered office is Haslers, Old Station Road, Loughton, Essex, United Kingdom, IG10 4PL. 

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:
The financial statements are presented in pound sterling which is the functional currency of the
company and rounded to the nearest £.

 
2.2

Going concern

The accounts have been prepared on the basis of going concern as the directors will continue to
provide financial support to meet the companies liabilities as they fall due.

Page 3

 
INFINITY PROPERTY LONDON LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2022

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Profit and Loss Account in the same period as the related expenditure.

 
2.5

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.

Page 4

 
INFINITY PROPERTY LONDON LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2022

2.Accounting policies (continued)

 
2.6

Taxation

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.

 
2.7

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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
20%
on reducing balance
Fixtures and fittings
-
20%
on reducing balance
Office equipment
-
20%
on reducing balance

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.

 
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.9

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.

Page 5

 
INFINITY PROPERTY LONDON LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2022

2.Accounting policies (continued)

 
2.10

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.

 
2.11

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.


3.


Employees

The average monthly number of employees, including the director, during the year was as follows:


        2022
        2021
            No.
            No.







Employees
3
2

Page 6

 
INFINITY PROPERTY LONDON LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2022

4.


Tangible fixed assets





Plant and machinery
Fixtures and fittings
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 July 2021
608
5,278
9,714
15,600


Additions
-
2,761
3,682
6,443



At 30 June 2022

608
8,039
13,396
22,043



Depreciation


At 1 July 2021
178
3,549
3,807
7,534


Charge for the year on owned assets
86
745
1,588
2,419



At 30 June 2022

264
4,294
5,395
9,953



Net book value



At 30 June 2022
344
3,745
8,001
12,090



At 30 June 2021
430
1,730
5,908
8,068


5.


Stocks

2022
2021
£
£

Work in progress (goods to be sold)
1,880,383
741,768

1,880,383
741,768


Page 7

 
INFINITY PROPERTY LONDON LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2022

6.


Debtors

2022
2021
£
£


Other debtors
173,120
11,668

Prepayments and accrued income
9,784
18,773

182,904
30,441



7.


Cash and cash equivalents

2022
2021
£
£

Cash at bank and in hand
7,668
165,770

7,668
165,770



8.


Creditors: Amounts falling due within one year

2022
2021
£
£

Bank loans
385,000
10,000

Other loans
589,717
-

Trade creditors
29,814
26,010

Corporation tax
21,268
-

Other taxation and social security
3,407
-

Other creditors
1,013,503
966,300

Accruals and deferred income
5,749
3,219

2,048,458
1,005,529



9.


Creditors: Amounts falling due after more than one year

2022
2021
£
£

Other loans
29,163
39,166

29,163
39,166


Page 8

 
INFINITY PROPERTY LONDON LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2022

10.


Loans


Analysis of the maturity of loans is given below:


2022
2021
£
£

Amounts falling due within one year

Bank loans
385,000
10,000

Other loans
589,717
-


974,717
10,000

Amounts falling due 1-2 years

Other loans
29,167
29,167


29,167
29,167

Amounts falling due 2-5 years

Other loans
-
10,000


-
10,000


1,003,884
49,167



11.


Financial instruments

2022
2021
£
£

Financial assets


Financial assets measured at fair value through profit or loss
7,668
165,770




Financial assets measured at fair value through profit or loss comprise of cash at bank.


12.


Related party transactions

At the year end an amount of £1,013,503 was due to the director (2021: £966,299).


13.


Controlling party

The company is controlled by Mr & Mrs Pigney by virtue of their shareholding in the company.

Page 9

 
INFINITY PROPERTY LONDON LTD
 
 
 Page 10