Caseware UK (AP4) 2021.0.152 2021.0.152 2021-10-312021-10-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.22020-10-30falseski simulatorfalsetrue 12987488 2020-10-29 12987488 2020-10-30 2021-10-31 12987488 2019-10-30 2020-10-29 12987488 2021-10-31 12987488 c:Director1 2020-10-30 2021-10-31 12987488 d:PlantMachinery 2020-10-30 2021-10-31 12987488 d:PlantMachinery 2021-10-31 12987488 d:PlantMachinery d:OwnedOrFreeholdAssets 2020-10-30 2021-10-31 12987488 d:CurrentFinancialInstruments 2021-10-31 12987488 d:CurrentFinancialInstruments d:WithinOneYear 2021-10-31 12987488 d:ShareCapital 2021-10-31 12987488 d:RetainedEarningsAccumulatedLosses 2021-10-31 12987488 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2021-10-31 12987488 d:FinancialLiabilitiesFairValueThroughProfitOrLoss d:UnlistedNon-exchangeTraded 2021-10-31 12987488 c:FRS102 2020-10-30 2021-10-31 12987488 c:AuditExempt-NoAccountantsReport 2020-10-30 2021-10-31 12987488 c:FullAccounts 2020-10-30 2021-10-31 12987488 c:PrivateLimitedCompanyLtd 2020-10-30 2021-10-31 iso4217:GBP xbrli:pure

Registered number:  12987488














INFINISKI LIMITED
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2021


 
INFINISKI LIMITED
REGISTERED NUMBER: 12987488

BALANCE SHEET
AS AT 31 OCTOBER 2021

2021
Note
£

Fixed assets
  

Tangible assets
 4 
53,332

  
53,332

Current assets
  

Debtors: amounts falling due within one year
  
2,250

Cash at bank and in hand
 6 
3,125

  
5,375

Creditors: amounts falling due within one year
 7 
(69,527)

Net current (liabilities)/assets
  
 
 
(64,152)

Total assets less current liabilities
  
(10,820)

  

Net (liabilities)/assets
  
(10,820)


Capital and reserves
  

Called up share capital 
  
2

Profit and loss account
  
(10,822)

  
(10,820)


Page 1

 
INFINISKI LIMITED
REGISTERED NUMBER: 12987488
    
BALANCE SHEET (CONTINUED)
AS AT 31 OCTOBER 2021

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 period 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: 




M Brackley
Director

Date: 6 September 2022

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
INFINISKI LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2021

1.


General information

The company is a private company limited by shares, which is incorporated under the Companies Act 2006 and registered in England & Wales (no. 12987488). The registered office is The Plaza, 100 Old Hall Street, Liverpool, United Kingdom, L3 9QJ.
These financial statements present information about the company as an individual undertaking; it is not a member of a group of companies. The principal activity of the company is that of sports simulation services.

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 following principal accounting policies have been applied:

 
2.2

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:

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.

 
2.3

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 3

 
INFINISKI LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2021

2.Accounting policies (continued)


2.3
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:

Plant and machinery
-
10 - 25% On cost

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.

 
2.4

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.

 
2.5

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.

 
2.6

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.

 
2.7

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Employees

The average monthly number of employees, including directors, during the period was 2.

Page 4

 
INFINISKI LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2021

4.


Tangible fixed assets





Plant and machinery

£



Cost or valuation


Additions
59,538



At 31 October 2021

59,538



Depreciation


Charge for the period on owned assets
6,206



At 31 October 2021

6,206



Net book value



At 31 October 2021
53,332


5.


Debtors

2021
£


Prepayments and accrued income
2,250

2,250



6.


Cash and cash equivalents

2021
£

Cash at bank and in hand
3,125

3,125


Page 5

 
INFINISKI LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2021

7.


Creditors: Amounts falling due within one year

2021
£

Other creditors
68,807

Accruals and deferred income
720

69,527



8.


Financial instruments

2021
£

Financial assets


Financial assets measured at fair value through profit or loss
3,125


Financial liabilities


Financial liabilities measured at amortised cost
69,527


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


Financial liabilities measured at amortised cost comprise of other creditors and accruals.


9.


Related party transactions

Included in other creditors is an amount of £68,807 owed to the directors. The loan is repayable on demand and no interest has been charged.


10.


Controlling party

The company is under the control of the directors.

 
Page 6