Company registration number 13710905 (England and Wales)
INFINITY SPEEDITION LIMITED
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2023
INFINITY SPEEDITION LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
INFINITY SPEEDITION LIMITED
BALANCE SHEET
AS AT 31 JANUARY 2023
31 January 2023
- 1 -
2023
Notes
£
£
Fixed assets
Tangible assets
3
43,456
Current assets
Debtors
4
10,895
Cash at bank and in hand
93,668
104,563
Creditors: amounts falling due within one year
5
(147,819)
Net current liabilities
(43,256)
Net assets
200
Capital and reserves
-
Called up share capital
200
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 25 October 2023 and are signed on its behalf by:
Robert Roth
Director
Company Registration No. 13710905
INFINITY SPEEDITION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2023
- 2 -
1
Accounting policies
Company information
Infinity Speedition Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 1 Tyseley Industrial Estate, Wharfdale Road, Birmingham, West Midlands, UK, B11 2DF.
1.1
Reporting period
The reporting period is from 21 October 2021 to 31 January 2023. This ties in with the date of incorporation and extended period of the company.
1.2
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.3
Going concern
Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.4
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 so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Motor vehicles
18% on reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
2
Employees
The average monthly number of persons (including directors) employed by the company during the period was:
2023
Number
Total
3
INFINITY SPEEDITION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 JANUARY 2023
- 3 -
3
Tangible fixed assets
Motor vehicles
£
Cost
At 29 October 2021
Additions
52,995
At 31 January 2023
52,995
Depreciation and impairment
At 29 October 2021
Depreciation charged in the period
9,539
At 31 January 2023
9,539
Carrying amount
At 31 January 2023
43,456
4
Debtors
2023
Amounts falling due within one year:
£
Other debtors
10,895
5
Creditors: amounts falling due within one year
2023
£
Other creditors
147,819
6
Audit report information
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:
The auditor's report was unqualified.
Senior Statutory Auditor:
Thomas Plimmer
Statutory Auditor:
AGS Accountants and Business Advisors Limited
7
Related party disclosure
As at 31 January 2023 the following balance, included in other creditors due within one year, was due to related companies:
Marion Trading Ltd: £147,419
The above balance is repayable on demand.
INFINITY SPEEDITION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 JANUARY 2023
- 4 -
8
Ultimate Controlling Party
The controlling party is Marion Holdings Limited.