1 July 2022 v2023.22.2 limited_company_frs_102_section_1a_v1_1_0 companies_houseSoftwarefalsetruetruetrueNo description of principal activitytruexbrli:purexbrli:sharesiso4217:GBP096586312022-07-012023-06-30096586312023-06-30096586312022-06-3009658631core:WithinOneYear2023-06-3009658631core:WithinOneYear2022-06-3009658631core:AfterOneYear2023-06-3009658631core:AfterOneYear2022-06-3009658631core:ShareCapital2023-06-3009658631core:ShareCapital2022-06-3009658631core:RetainedEarningsAccumulatedLosses2023-06-3009658631core:RetainedEarningsAccumulatedLosses2022-06-3009658631bus:Director12022-07-012023-06-3009658631bus:Director22022-07-012023-06-3009658631bus:RegisteredOffice2022-07-012023-06-3009658631core:FurnitureFittings2022-07-012023-06-3009658631core:MotorVehicles2022-07-012023-06-3009658631core:PlantMachinery2022-07-012023-06-30096586312021-07-012022-06-3009658631core:PlantMachinery2022-07-0109658631core:PlantMachinery2023-06-3009658631core:PlantMachinery2022-06-300965863112022-07-012023-06-3009658631countries:EnglandWales2022-07-012023-06-3009658631bus:AuditExemptWithAccountantsReport2022-07-012023-06-3009658631bus:PrivateLimitedCompanyLtd2022-07-012023-06-3009658631bus:SmallEntities2022-07-012023-06-3009658631bus:FullAccounts2022-07-012023-06-30
Company registration number:
09658631
Infrastruct Ltd
Unaudited Filleted Financial Statements for the year ended
30 June 2023
Infrastruct Ltd
Chartered accountant's report to the board of directors on the preparation of the unaudited statutory financial statements of Infrastruct Ltd
Year ended
30 June 2023
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the
financial statements
of
Infrastruct Ltd
for the year ended
30 June 2023
which comprise the income statement, statement of income and retained earnings, statement of financial position and related notes from the company’s accounting records and from information and explanations you have given me.
As a practising member of the Institute of Chartered Accountants in England and Wales (ICAEW), I am subject to its ethical and other professional requirements which are detailed at icaew.com/​regulations.
This report is made solely to the Board of Directors of
Infrastruct Ltd
, as a body, in accordance with the terms of my engagement letter dated 29 April 2022. My work has been undertaken solely to prepare for your approval the
financial statements
of
Infrastruct Ltd
and state those matters that I have agreed to state to the Board of Directors of
Infrastruct Ltd
, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than
Infrastruct Ltd
and its Board of Directors, as a body, for my work or for this report.
It is your duty to ensure that
Infrastruct Ltd
has kept adequate accounting records and to prepare statutory
financial statements
that give a true and fair view of the assets, liabilities, financial position and profit of
Infrastruct Ltd
. You consider that
Infrastruct Ltd
is exempt from the statutory audit requirement for the year.
I have not been instructed to carry out an audit or a review of the financial statements of Infrastruct Ltd. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory financial statements.
Crown & Co Accountants Limited
Singleton Court Business Park
Wonastow Road
Monmouth
Monmouthshire
NP25 5JA
United Kingdom
Date:
11 October 2023
Infrastruct Ltd
Statement of Financial Position
30 June 2023
20232022
Note££
Fixed assets    
Tangible assets 5
334,395
 
225,098
 
Current assets    
Stocks
3,045
 
2,760
 
Debtors 6
3,760
 
2,295
 
Cash at bank and in hand
25,598
 
30,138
 
32,403
 
35,193
 
Creditors: amounts falling due within one year 7
(43,824
)
(14,917
)
Net current (liabilities)/assets
(11,421
)
20,276
 
Total assets less current liabilities 322,974   245,374  
Creditors: amounts falling due after more than one year 8
(42,795
)
(57,961
)
Net assets
280,179
 
187,413
 
Capital and reserves    
Called up share capital
150
 
150
 
Profit and loss account
280,029
 
187,263
 
Shareholders funds
280,179
 
187,413
 
For the year ending
30 June 2023
, 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 year 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
have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies’ regime.
In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered.
These
financial statements
were approved by the board of directors and authorised for issue on
11 October 2023
, and are signed on behalf of the board by:
P Price
K Price
DirectorDirector
Company registration number:
09658631
Infrastruct Ltd
Notes to the Financial Statements
Year ended
30 June 2023

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
Singleton Court Business Park
,
Wonastow Road
,
Monmouth
,
Monmouthshire
,
NP25 5JA
, United Kingdom.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Current tax

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.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
15% straight line
Motor vehicles
25% straight line
Plant and machinery
15% straight line

Impairment

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.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.
Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4 Average number of employees

The average number of persons employed by the company during the year was
2
(2022:
2.00
).

5 Tangible assets

Plant and machinery etc.
£
Cost  
At
1 July 2022
299,635
 
Additions
195,306
 
Disposals
(76,950
)
At
30 June 2023
417,991
 
Depreciation  
At
1 July 2022
74,537
 
Charge
37,640
 
Disposals
(28,581
)
At
30 June 2023
83,596
 
Carrying amount  
At
30 June 2023
334,395
 
At 30 June 2022
225,098
 

6 Debtors

20232022
££
Trade debtors
1,532
  -  
Other debtors
2,228
 
2,295
 
3,760
 
2,295
 

7 Creditors: amounts falling due within one year

20232022
££
Trade creditors
35,460
 
3,276
 
Taxation and social security
1,839
 
5,085
 
Other creditors
6,525
 
6,556
 
43,824
 
14,917
 

8 Creditors: amounts falling due after more than one year

20232022
££
Bank loans and overdrafts
37,475
 
49,000
 
Other creditors
5,320
 
8,961
 
42,795
 
57,961