REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 January 2023 |
for |
AFFINITY NETWORK SOLUTIONS LIMITED |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 January 2023 |
for |
AFFINITY NETWORK SOLUTIONS LIMITED |
AFFINITY NETWORK SOLUTIONS LIMITED (REGISTERED NUMBER: 10545401) |
Contents of the Financial Statements |
for the Year Ended 31 January 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
AFFINITY NETWORK SOLUTIONS LIMITED |
Company Information |
for the Year Ended 31 January 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
The Old Surgery |
43 Derbe Road |
Lytham St Annes |
Lancashire |
FY8 1NJ |
AFFINITY NETWORK SOLUTIONS LIMITED (REGISTERED NUMBER: 10545401) |
Balance Sheet |
31 January 2023 |
31.1.23 | 31.1.22 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 4 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
( |
) | ( |
) |
The director acknowledges his responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
AFFINITY NETWORK SOLUTIONS LIMITED (REGISTERED NUMBER: 10545401) |
Notes to the Financial Statements |
for the Year Ended 31 January 2023 |
1. | STATUTORY INFORMATION |
Affinity Network Solutions Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered address can be found on the Company Information Page. |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents the net value of services provided, excluding value added tax. |
The company's principal source of revenue are generated and recognised via hire of motor vehicles to customers. |
Tangible fixed assets |
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. |
Depreciation is recognised to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: |
Plant and Machinery - 25% on reducing balance |
Motor Vehicles - 25% on reducing balance |
Computer Equipment - 25% on reducing balance |
The gain or loss arising on the disposal of an asset is determined as the difference between the disposal proceeds and the carrying value of the asset and is credited or charged to Profit and Loss. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax |
The tax currently payable is based on the taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income and expenses that are taxable or deductible in other years and it further excludes that are not taxable or deductible. |
AFFINITY NETWORK SOLUTIONS LIMITED (REGISTERED NUMBER: 10545401) |
Notes to the Financial Statements - continued |
for the Year Ended 31 January 2023 |
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Financial instruments |
Trade and other debtors that are receivable within one year and do not constitute a financing transaction are recorded at the undiscounted amount expected to be received, net of impairment. Those that are receivable after more than one year or constitute a financing transaction are recorded initially at fair value less transaction costs and subsequently at amortized cost, net of impairment. |
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. |
Trade and other creditors are initially recognised at the transaction price and are therefore stated at amortized cost using the effective interest method unless the discounting would be immaterial, in which case they are stated at cost. |
Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account. |
Going concern |
At the Balance Sheet date, the company had net current liabilities of £4,438 and total liabilities of £4,438. However, the creditor is wholly due to other companies within the same group. These group companies have confirmed that they will continue to financially support the company to such a time it achieves a solvent position and therefore the company has adopted the going concern basis of accounting. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2022 - NIL). |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.1.23 | 31.1.22 |
£ | £ |
Amounts owed by group undertakings |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.1.23 | 31.1.22 |
£ | £ |
Amounts owed to group undertakings |
AFFINITY NETWORK SOLUTIONS LIMITED (REGISTERED NUMBER: 10545401) |
Notes to the Financial Statements - continued |
for the Year Ended 31 January 2023 |
6. | RELATED PARTY DISCLOSURES |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
7. | ULTIMATE CONTROLLING PARTY |
The parent company of Affinity Network Solutions Limited is Infinium Group Limited, which has a registered office address of Unit 4, Bartle Court Business Village Rosemary Lane, Bartle, Preston, England, PR4 0HB. |