INFI-TEX LTD |
Notes to the Accounts |
for the year ended 31 December 2022 |
|
|
1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. |
|
|
Intangible fixed assets |
|
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. |
|
|
2 |
Employees |
2022 |
|
2021 |
Number |
Number |
|
|
Average number of persons employed by the company |
2 |
|
2 |
|
|
|
|
|
|
|
|
|
|
3 |
Intangible fixed assets |
£ |
|
|
|
Cost |
|
At 1 January 2022 |
126,789 |
|
At 31 December 2022 |
126,789 |
|
|
|
|
|
|
|
|
|
|
Amortisation |
|
At 1 January 2022 |
35,000 |
|
Provided during the year |
28,037 |
|
At 31 December 2022 |
63,037 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 December 2022 |
63,752 |
|
At 31 December 2021 |
91,789 |
|
|
|
|
|
|
|
|
|
|
|
|
4 |
Creditors: amounts falling due within one year |
2022 |
|
2021 |
£ |
£ |
|
|
Accrued and deferred income |
|
|
|
|
2,394 |
|
62,394 |
|
Other creditors |
695,517 |
|
622,798 |
|
|
|
|
|
|
697,911 |
|
685,192 |
|
|
|
|
|
|
|
|
|
|
5 |
Other information |
|
|
INFI-TEX LTD is a private company limited by shares and incorporated in England. Its registered office is: |
|
Devonshire House |
|
582 Honeypot Lane |
|
Stanmore |
|
HA7 1JS |