Registered number
12808866
Infinity Secure Solutions Ltd
Filleted Accounts
31 January 2023
Infinity Secure Solutions Ltd
Registered number: 12808866
Balance Sheet
as at 31 January 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 18,774 21,767
Current assets
Stocks 3,000 -
Debtors 4 46,621 4,790
Cash at bank and in hand 47,578 59,957
97,199 64,747
Creditors: amounts falling due within one year 5 (42,585) (23,868)
Net current assets 54,614 40,879
Total assets less current liabilities 73,388 62,646
Creditors: amounts falling due after more than one year 6 (10,750) (30,750)
Provisions for liabilities (3,567) (4,136)
Net assets 59,071 27,760
Capital and reserves
Called up share capital 2 2
Profit and loss account 59,069 27,758
Shareholders' funds 59,071 27,760
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
R Spence
Director
Approved by the board on 16 August 2023
Infinity Secure Solutions Ltd
Notes to the Accounts
for the year ended 31 January 2023
1 Accounting policies
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 sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Computer equipment over 3 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
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. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc Computer equipment Total
£ £ £
Cost
At 1 February 2022 24,778 2,612 27,390
Additions 2,271 1,216 3,487
At 31 January 2023 27,049 3,828 30,877
Depreciation
At 1 February 2022 4,754 869 5,623
Charge for the year 5,207 1,273 6,480
At 31 January 2023 9,961 2,142 12,103
Net book value
At 31 January 2023 17,088 1,686 18,774
At 31 January 2022 20,024 1,743 21,767
4 Debtors 2023 2022
£ £
Trade debtors 44,643 2,743
Other debtors 1,978 2,047
46,621 4,790
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 4,994 9,697
Taxation and social security costs 36,787 12,014
Other creditors 804 2,157
42,585 23,868
6 Creditors: amounts falling due after one year 2023 2022
£ £
Other creditors 10,750 30,750
7 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
R Spence
Directors loan account (2) 1,116 (1,918) (804)
(2) 1,116 (1,918) (804)
8 Related party transactions
Included within other creditors is a balance owed to the director of £804 (2022 - £2). This amount is undated, interest free and repayable on demand.
9 Other information
Infinity Secure Solutions Ltd is a private company limited by shares and incorporated in England. Its registered office is:
6 Poplar Close
Roxton
Bedford
MK44 3EG
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