Influx Group Solutions Limited 12540569 false 2022-04-01 2023-03-31 2023-03-31 The principal activity of the company is that of information technology consultancy activities. Digita Accounts Production Advanced 6.30.9574.0 true true 12540569 2022-04-01 2023-03-31 12540569 2023-03-31 12540569 bus:Director1 1 2023-03-31 12540569 bus:Director2 1 2023-03-31 12540569 core:CurrentFinancialInstruments 2023-03-31 12540569 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 12540569 core:FurnitureFittingsToolsEquipment 2023-03-31 12540569 core:MotorVehicles 2023-03-31 12540569 bus:SmallEntities 2022-04-01 2023-03-31 12540569 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 12540569 bus:FullAccounts 2022-04-01 2023-03-31 12540569 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 12540569 bus:RegisteredOffice 2022-04-01 2023-03-31 12540569 bus:Director1 2022-04-01 2023-03-31 12540569 bus:Director1 1 2022-04-01 2023-03-31 12540569 bus:Director2 2022-04-01 2023-03-31 12540569 bus:Director2 1 2022-04-01 2023-03-31 12540569 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 12540569 core:ComputerEquipment 2022-04-01 2023-03-31 12540569 core:FurnitureFittings 2022-04-01 2023-03-31 12540569 core:FurnitureFittingsToolsEquipment 2022-04-01 2023-03-31 12540569 core:MotorVehicles 2022-04-01 2023-03-31 12540569 core:PlantMachinery 2022-04-01 2023-03-31 12540569 countries:EnglandWales 2022-04-01 2023-03-31 12540569 2022-03-31 12540569 bus:Director1 1 2022-03-31 12540569 bus:Director2 1 2022-03-31 12540569 core:FurnitureFittingsToolsEquipment 2022-03-31 12540569 core:MotorVehicles 2022-03-31 12540569 2021-04-01 2022-03-31 12540569 2022-03-31 12540569 bus:Director1 1 2022-03-31 12540569 bus:Director2 1 2022-03-31 12540569 core:CurrentFinancialInstruments 2022-03-31 12540569 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 12540569 core:FurnitureFittingsToolsEquipment 2022-03-31 12540569 core:MotorVehicles 2022-03-31 12540569 bus:Director1 1 2021-04-01 2022-03-31 12540569 bus:Director2 1 2021-04-01 2022-03-31 12540569 bus:Director1 1 2021-03-31 12540569 bus:Director2 1 2021-03-31 iso4217:GBP xbrli:pure

Registration number: 12540569

Influx Group Solutions Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2023

 

Influx Group Solutions Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 5

 

Influx Group Solutions Limited

(Registration number: 12540569)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

14,880

14,793

Current assets

 

Debtors

5

31,109

33,756

Cash at bank and in hand

 

12,359

4,443

 

43,468

38,199

Creditors: Amounts falling due within one year

6

(58,091)

(52,689)

Net current liabilities

 

(14,623)

(14,490)

Total assets less current liabilities

 

257

303

Provisions for liabilities

-

(159)

Net assets

 

257

144

Capital and reserves

 

Called up share capital

100

100

Retained earnings

157

44

Shareholders' funds

 

257

144

For the financial year ending 31 March 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 15 September 2023 and signed on its behalf by:
 

.........................................
J Spencer
Director

 

Influx Group Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Dairylea Cottage
The Gue
Porthleven
Helston
TR13 9DN

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Influx Group Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% Reducing balance

Motor vehicles

25% Reducing balance

Fixtures and fittings

Not depreciated

Computer equipment

25% Reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Influx Group Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2022

14,513

1,845

16,358

Additions

-

2,250

2,250

Disposals

(1,086)

(1,000)

(2,086)

At 31 March 2023

13,427

3,095

16,522

Depreciation

At 1 April 2022

757

808

1,565

Charge for the year

172

681

853

Eliminated on disposal

(338)

(438)

(776)

At 31 March 2023

591

1,051

1,642

Net book value

At 31 March 2023

12,836

2,044

14,880

At 31 March 2022

13,756

1,037

14,793

5

Debtors

2023
£

2022
£

Trade debtors

8,264

2,839

Other debtors

22,845

30,917

31,109

33,756

 

Influx Group Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

6

Creditors

Amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

26,194

10,500

Taxation and social security

5,810

3,520

Accruals and deferred income

2,968

1,864

Other creditors

11,785

24,310

Corporation tax

11,334

12,495

58,091

52,689

7

Related party transactions

Transactions with directors

2023

At 1 April 2022
£

Advances to director
£

Repayments by director
£

At 31 March 2023
£

J Spencer

11,215

29,583

(34,302)

6,496

         
       

J P Regler

12,118

28,700

(32,052)

8,766

         
       

 

2022

At 1 April 2021
£

Advances to director
£

Repayments by director
£

At 31 March 2022
£

J Spencer

2,484

19,356

(10,625)

11,215

         
       

J P Regler

2,825

19,918

(10,625)

12,118