Infobric UK Limited 09352861 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is providing safety solutions to businesses in the construction industry. Digita Accounts Production Advanced 6.30.9574.0 true false true 09352861 2023-01-01 2023-12-31 09352861 2023-12-31 09352861 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 09352861 core:FurnitureFittingsToolsEquipment 2023-12-31 09352861 bus:SmallEntities 2023-01-01 2023-12-31 09352861 bus:Audited 2023-01-01 2023-12-31 09352861 bus:FullAccounts 2023-01-01 2023-12-31 09352861 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 09352861 bus:RegisteredOffice 2023-01-01 2023-12-31 09352861 bus:Director2 2023-01-01 2023-12-31 09352861 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 09352861 core:FurnitureFittingsToolsEquipment 2023-01-01 2023-12-31 09352861 core:PlantMachinery 2023-01-01 2023-12-31 09352861 1 2023-01-01 2023-12-31 09352861 countries:EnglandWales 2023-01-01 2023-12-31 09352861 2022-12-31 09352861 core:FurnitureFittingsToolsEquipment 2022-12-31 09352861 2022-01-01 2022-12-31 09352861 2022-12-31 09352861 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 09352861 core:FurnitureFittingsToolsEquipment 2022-12-31 iso4217:GBP xbrli:pure

Registration number: 09352861

Infobric UK Limited

Annual Report and Financial Statements

for the Year Ended 31 December 2023

Pages for Filing with Registrar

 

Infobric UK Limited

(Registration number: 09352861)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

6

-

-

Current assets

 

Stock

7

-

1,570

Debtors

8

27,691

38,498

Cash at bank and in hand

 

28,364

19,009

 

56,055

59,077

Creditors: Amounts falling due within one year

9

(11,615)

(16,659)

Net current assets

 

44,440

42,418

Net assets

 

44,440

42,418

Capital and reserves

 

Called up share capital

1

1

Profit and loss account

44,439

42,417

Shareholders' funds

 

44,440

42,418

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 1 March 2024
 

.........................................

D A Friberg
Director

 

Infobric UK Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

1

General information

The Company is a private company limited by share capital, incorporated in England and Wales.

Principal activity

The principal activity of the Company is providing safety solutions to businesses in the construction industry.

The address of its registered office is:
1 Chapel Street
Warwick
Warwickshire
CV34 4HL
United Kingdom

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The company is dependent on the support of its shareholders to continue as a going concern. Confirmation of this support has been provided and the directors consider it appropriate to prepare the accounts on a going concern basis.

 

Infobric UK Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

Turnover recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities.Turnover is shown net of value added tax, returns, rebates and discounts.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

Foreign currency transactions and balances

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation are included in the income statement for the period.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Infobric UK Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

33% straight line

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an 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.

Debtors

Basic financial assets, including trade and other debtors, are initially recognised at transaction price, 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. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Trade debtors are amounts due from customers for the services performed in the ordinary course of business.

Stock

Stock are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stock are assessed for impairment. If stock are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Infobric UK Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

Creditors

Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, 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. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Significant judgements and estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion there are no significant judgements or key sources of estimation uncertainty.

 

Infobric UK Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

4

Audit report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 1 March 2024 was David Wheeler, who signed for and on behalf of Bourner Bullock.

5

Staff numbers

The average number of persons employed by the Company (including the director) during the year, was 1 (2022 - 1).

6

Tangible assets

Plant & machinery
 £

Total
£

Cost or valuation

At 1 January 2023

1,340

1,340

Disposals

(1,340)

(1,340)

At 31 December 2023

-

-

Depreciation

At 1 January 2023

1,340

1,340

Eliminated on disposal

(1,340)

(1,340)

At 31 December 2023

-

-

Carrying amount

At 31 December 2023

-

-

At 31 December 2022

-

-

7

Stock

2023
£

2022
£

Stock

-

1,570

 

Infobric UK Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

8

Debtors

2023
£

2022
£

Trade debtors

17,322

18,546

Amounts owed by group undertakings

10,369

19,595

Other debtors

-

357

 

27,691

38,498

9

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

1,188

2,313

Taxation and social security

1,396

3,123

Other creditors

8,448

10,453

Income tax liability

583

770

11,615

16,659

10

Dividends

There were no dividends paid or proposed in either the current year or the previous year.

11

Parent and ultimate parent undertaking

The company's immediate parent is Infobric AB, incorporated in Sweden.

 The ultimate parent is Infobric Group AB, incorporated in Sweden.

  These financial statements are available upon request from Infobric Group AB, Gjuterigatan 9, 553 18 Jönköping, Sweden. Infobric Group AB is the smallest and largest parent undertaking preparing consolidated financial statements.