Company registration number 14225594 (England and Wales)
INFINITE FORCE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JULY 2023
PAGES FOR FILING WITH REGISTRAR
INFINITE FORCE LIMITED
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 6
INFINITE FORCE LIMITED
BALANCE SHEET
- 1 -
2023
Notes
£
£
Fixed assets
Investments
3
1,066
Current assets
Debtors
4
59,826
Cash at bank and in hand
1,437
61,263
Creditors: amounts falling due within one year
5
(1,145)
Net current assets
60,118
Net assets
61,184
Capital and reserves
Called up share capital
6
1,010
Profit and loss reserves
60,174
Total equity
61,184
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial period ended 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.
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 4 April 2024 and are signed on its behalf by:
Mr Patrick Fischer
Mr R S Kondal
Director
Director
Company registration number 14225594 (England and Wales)
INFINITE FORCE LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 JULY 2023
- 2 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 11 July 2022
-
Period ended 31 July 2023:
Profit and total comprehensive income
-
98,174
98,174
Issue of share capital
6
1,010
-
1,010
Dividends
-
(38,000)
(38,000)
Balance at 31 July 2023
1,010
60,174
61,184
INFINITE FORCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JULY 2023
- 3 -
1
Accounting policies
Company information
Infinite Force Limited is a private company limited by shares incorporated in England and Wales. The registered office is 167-169 Great Portland Street, 5th Floor, London, W1W 5PF. . The Company was incorporated on the 11 July 2022 and commenced trading that day.
1.1
Reporting period
In the current year, Financial statements are prepared for a period more than one year to 31 July 2023 due to this being the first year of trading.
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
Fixed asset investments
Interests in subsidiaries and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
1.4
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.5
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
INFINITE FORCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 JULY 2023
1
Accounting policies
(Continued)
- 4 -
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
1.6
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.7
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
2
Employees
The average monthly number of persons (including directors) employed by the company during the period was:
2023
Number
Total
2
3
Fixed asset investments
2023
£
Shares in group undertakings and participating interests
1,066
INFINITE FORCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 JULY 2023
3
Fixed asset investments
(Continued)
- 5 -
Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 11 July 2022
-
Additions
1,066
At 31 July 2023
1,066
Carrying amount
At 31 July 2023
1,066
4
Debtors
2023
Amounts falling due within one year:
£
Other debtors
3,127
2023
Amounts falling due after more than one year:
£
Amounts owed by group undertakings
56,699
Total debtors
59,826
5
Creditors: amounts falling due within one year
2023
£
Other creditors
1,145
6
Called up share capital
2023
2023
Ordinary share capital
Number
£
Issued and fully paid
Ordinary A of 1p each
495
5
Ordinary B of 1p each
495
5
Ordinary C of £1 each
500
500
Ordinary D of £1 each
500
500
Ordinary E of 1p each
5
-
Ordinary F of 1p each
5
-
2,000
1,010
INFINITE FORCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 JULY 2023
6
Called up share capital
(Continued)
- 6 -
Ordinary A, B and C shares are entitled to one vote. Each share is equally entitled to a distribution of dividend. Each share is equally entitled to a distribution of capital.
Ordinary D, E and F each share has full rights in the company with respect to voting, dividends and distribution.
7
Related party transactions
2023
Amounts due to related parties
£
Entities over which the entity has control, joint control or significant influence
45
The following amounts were outstanding at the reporting end date:
2023
Amounts due from related parties
£
Entities over which the entity has control, joint control or significant influence
56,699