Registered number
SC469705
Infinity Artist Management Limited
Filleted Accounts
31 March 2023
Infinity Artist Management Limited
Registered number: SC469705
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 532 822
Current assets
Debtors 4 278 278
Cash at bank and in hand 50,103 32,380
50,381 32,658
Creditors: amounts falling due within one year 5 (27,383) (19,329)
Net current assets 22,998 13,329
Net assets 23,530 14,151
Capital and reserves
Called up share capital 100 100
Profit and loss account 23,430 14,051
Shareholders' funds 23,530 14,151
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.
S Dumbreck
Director
Approved by the board on 16 November 2023
Infinity Artist Management Limited
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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.
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:
Fixtures, fittings, tools and equipment over 5 years
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2022 2,937
Additions -
At 31 March 2023 2,937
Depreciation
At 1 April 2022 2,115
Charge for the year 290
At 31 March 2023 2,405
Net book value
At 31 March 2023 532
At 31 March 2022 822
4 Debtors 2023 2022
£ £
Other debtors 278 278
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 13,477 1,622
Corporation tax 3,912 5,983
Other taxes and social security costs 3,406 5,136
Other creditors 6,588 6,588
27,383 19,329
Infinity Artist Management Limited SC469705 false 2022-04-01 2023-03-31 2023-03-31 VT Final Accounts October 2023 release 2 S Dumbreck No description of principal activity SC469705 2021-04-01 2022-03-31 SC469705 core:WithinOneYear 2022-03-31 SC469705 core:ShareCapital 2022-03-31 SC469705 core:RetainedEarningsAccumulatedLosses 2022-03-31 SC469705 2022-04-01 2023-03-31 SC469705 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 SC469705 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 SC469705 bus:Director40 2022-04-01 2023-03-31 SC469705 1 2022-04-01 2023-03-31 SC469705 2 2022-04-01 2023-03-31 SC469705 core:PlantMachinery 2022-04-01 2023-03-31 SC469705 bus:FRS102 2022-04-01 2023-03-31 SC469705 bus:FullAccounts 2022-04-01 2023-03-31 SC469705 2023-03-31 SC469705 core:WithinOneYear 2023-03-31 SC469705 core:ShareCapital 2023-03-31 SC469705 core:RetainedEarningsAccumulatedLosses 2023-03-31 SC469705 core:PlantMachinery 2023-03-31 SC469705 2022-03-31 SC469705 core:PlantMachinery 2022-03-31 iso4217:GBP xbrli:pure