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REGISTERED NUMBER: 09433817 (England and Wales)
























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

INFINITI SCAFFOLDING LIMITED

INFINITI SCAFFOLDING LIMITED (REGISTERED NUMBER: 09433817)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


INFINITI SCAFFOLDING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTORS: Mr William Joseph Naylor
Mrs Lisa Naylor
Mr Alexandre Paul Willgrass
Mrs Julia Claire Willgrass





REGISTERED OFFICE: Unit 16
Olympian Business Park
Cayton Low Road
Scarborough
North Yorkshire
YO11 3BT





REGISTERED NUMBER: 09433817 (England and Wales)





ACCOUNTANTS: Fortus North Limited
Business Advisors & Accountants
5&6 Manor Court
Manor Garth
Scarborough
North Yorkshire
YO11 3TU

INFINITI SCAFFOLDING LIMITED (REGISTERED NUMBER: 09433817)

BALANCE SHEET
28 FEBRUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,324,019 1,320,392

CURRENT ASSETS
Stocks 5 19,000 15,000
Debtors 6 338,825 334,358
Cash at bank 67,985 105,899
425,810 455,257
CREDITORS
Amounts falling due within one year 7 576,046 719,770
NET CURRENT LIABILITIES (150,236 ) (264,513 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,173,783 1,055,879

CREDITORS
Amounts falling due after more than
one year

8

(30,049

)

(47,684

)

PROVISIONS FOR LIABILITIES (327,089 ) (225,559 )
NET ASSETS 816,645 782,636

CAPITAL AND RESERVES
Called up share capital 4 4
Revaluation reserve 11 70,156 397,528
Retained earnings 746,485 385,104
816,645 782,636

INFINITI SCAFFOLDING LIMITED (REGISTERED NUMBER: 09433817)

BALANCE SHEET - continued
28 FEBRUARY 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

The 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 November 2023 and were signed on its behalf by:




Mr William Joseph Naylor - Director



Mrs Lisa Naylor - Director


INFINITI SCAFFOLDING LIMITED (REGISTERED NUMBER: 09433817)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023


1. STATUTORY INFORMATION

Infiniti Scaffolding Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


The level of rounding used in the financial statements is to the nearest £1.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
The turnover shown in the profit and loss account represents the total invoice value, excluding value
added tax, of sales made during the year. Sales are recognised in the profit and loss account in the period in which the related services are delivered.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 1% on cost
Plant and machinery - Varying rates on cost/reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Scaffolding equipment

Scaffolding equipment which is included within plant and machinery is carried at its revalued amount, being fair value at the date of valuation less subsequent depreciation and impairment losses.

Any revaluation increase in the carrying amount of scaffolding equipment is recognised in other comprehensive income and included in a revaluation reserve in equity, except to the extent that it reverses a revaluation decrease of the same asset previously recognised in the profit and loss account, in which case the increase is credited to profit and loss to the extent of the decrease previously expended. Decreases that offset previous increases of the same asset are charged in other comprehensive income and debited against revaluation reserve in equity; decreases exceeding the balance in revaluation reserve relating to an asset are recognised in profit and loss. Each year the difference between depreciation based on the revalued carrying amount of the asset recognised in profit or loss and depreciation based on the asset's original cost is transferred from revaluation reserve to retained earnings.

Deferred taxation on the revaluation gains is also accounted for via the revaluation reserve.

INFINITI SCAFFOLDING LIMITED (REGISTERED NUMBER: 09433817)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


2. ACCOUNTING POLICIES - continued

Government grants
The company has adopted the accrual model in regards to accounting for grants.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Stocks are valued at the lower of costs and net realisable value, after making due allowance for obsolete and slow moving items. Cost is calculated on a first in, first out basis.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

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.

Deferred taxation on revaluation gains is provided for by means of an adjustment to the revaluation reserve.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


INFINITI SCAFFOLDING LIMITED (REGISTERED NUMBER: 09433817)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern - basis of preparation
In assessing the appropriateness of the application of the going concern basis, the directors have considered the uncertainties around the general economic environment, the current and future trading performance of the company and available cash. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future, accordingly they continue to adopt the going concern basis in preparing the financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2022 - 20 ) .

INFINITI SCAFFOLDING LIMITED (REGISTERED NUMBER: 09433817)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST OR VALUATION
At 1 March 2022 8,005 1,342,720 10,176
Additions - 210,772 -
Disposals - (275 ) -
Impairments - (305,088 ) -
At 28 February 2023 8,005 1,248,129 10,176
DEPRECIATION
At 1 March 2022 5,070 130,549 3,907
Charge for year 1,585 4,987 939
Eliminated on disposal - - -
Revaluation adjustments - (117,083 ) -
At 28 February 2023 6,655 18,453 4,846
NET BOOK VALUE
At 28 February 2023 1,350 1,229,676 5,330
At 28 February 2022 2,935 1,212,171 6,269

Motor Computer
vehicles equipment Totals
£    £    £   
COST OR VALUATION
At 1 March 2022 285,945 7,273 1,654,119
Additions 28,839 - 239,611
Disposals (17,461 ) - (17,736 )
Impairments - - (305,088 )
At 28 February 2023 297,323 7,273 1,570,906
DEPRECIATION
At 1 March 2022 187,878 6,323 333,727
Charge for year 29,085 541 37,137
Eliminated on disposal (6,894 ) - (6,894 )
Revaluation adjustments - - (117,083 )
At 28 February 2023 210,069 6,864 246,887
NET BOOK VALUE
At 28 February 2023 87,254 409 1,324,019
At 28 February 2022 98,067 950 1,320,392

INFINITI SCAFFOLDING LIMITED (REGISTERED NUMBER: 09433817)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


4. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 28 February 2023 is represented by:

Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
Valuation in 2017 - 75,806 -
Valuation in 2018 - 154,634 -
Valuation in 2022 - 168,190 -
Valuation in 2023 - (305,088 ) -
Cost 8,005 1,154,587 10,176
8,005 1,248,129 10,176

Motor Computer
vehicles equipment Totals
£    £    £   
Valuation in 2017 - - 75,806
Valuation in 2018 - - 154,634
Valuation in 2022 - - 168,190
Valuation in 2023 - - (305,088 )
Cost 297,323 7,273 1,477,364
297,323 7,273 1,570,906

If items within plant & machinery had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 1,346,898 391,060
Aggregate depreciation 327,336 80,652

INFINITI SCAFFOLDING LIMITED (REGISTERED NUMBER: 09433817)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST OR VALUATION
At 1 March 2022 76,446
Transfer to ownership (11,611 )
At 28 February 2023 64,835
DEPRECIATION
At 1 March 2022 35,410
Charge for year 7,901
Transfer to ownership (6,894 )
At 28 February 2023 36,417
NET BOOK VALUE
At 28 February 2023 28,418
At 28 February 2022 41,036

5. STOCKS
2023 2022
£    £   
Work-in-progress 19,000 15,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 320,221 325,705
Other debtors 18,604 8,653
338,825 334,358

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 9,095 9,670
Hire purchase contracts (see note 9) 8,189 22,862
Trade creditors 97,815 72,713
Taxation and social security 35,756 30,190
Other creditors 425,191 584,335
576,046 719,770

INFINITI SCAFFOLDING LIMITED (REGISTERED NUMBER: 09433817)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 24,912 34,014
Hire purchase contracts (see note 9) 5,137 13,670
30,049 47,684

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Gross obligations repayable:
Within one year 8,921 23,606
Between one and five years 5,204 14,125
14,125 37,731

Finance charges repayable:
Within one year 732 744
Between one and five years 67 455
799 1,199

Net obligations repayable:
Within one year 8,189 22,862
Between one and five years 5,137 13,670
13,326 36,532

Non-cancellable operating leases
2023 2022
£    £   
Within one year 33,477 18,480
Between one and five years - 16,940
33,477 35,420

INFINITI SCAFFOLDING LIMITED (REGISTERED NUMBER: 09433817)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 13,326 36,532

The secured debts in relation to hire purchase contracts are secured on the assets concerned.

11. RESERVES
Revaluatio
reserve
£   
At 1 March 2022 397,528
Depreciation adjustment (74,638 )
Impairment (252,734 )

At 28 February 2023 70,156

12. RELATED PARTY DISCLOSURES

Included in creditors due within one year is £396,977 (2022 £562,027) owing to the directors of the company. The loans are deemed to be payable on demand, and no interest has been charged to the company on the amounts outstanding.