1 June 2022 false No description of principal activity Taxfiler 2023.11.1 10166793business:PrivateLimitedCompanyLtd2022-06-012023-05-31 101667932022-05-31 101667932022-06-012023-05-31 10166793business:AuditExemptWithAccountantsReport2022-06-012023-05-31 10166793business:AbridgedAccounts2022-06-012023-05-31 101667932023-05-31 10166793business:Director12022-06-012023-05-31 10166793business:Director22022-06-012023-05-31 10166793business:RegisteredOffice2022-06-012023-05-31 101667932022-05-31 10166793core:WithinOneYear2023-05-31 10166793core:WithinOneYear2022-05-31 10166793core:AfterOneYear2023-05-31 10166793core:AfterOneYear2022-05-31 10166793core:ShareCapitalcore:PreviouslyStatedAmount2023-05-31 10166793core:ShareCapitalcore:PreviouslyStatedAmount2022-05-31 10166793core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-05-31 10166793core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-05-31 10166793core:PreviouslyStatedAmount2023-05-31 10166793core:PreviouslyStatedAmount2022-05-31 10166793business:SmallEntities2022-06-012023-05-31 10166793countries:EnglandWales2022-06-012023-05-31 10166793core:FurnitureFittings2022-06-012023-05-31 101667932021-06-012022-05-31 iso4217:GBP xbrli:pure
Company Registration No. 10166793 (England and Wales)
Infinite Wealth Group Limited Unaudited accounts for the year ended 31 May 2023
Infinite Wealth Group Limited Unaudited accounts Contents
Page
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Infinite Wealth Group Limited Company Information for the year ended 31 May 2023
Directors
Mr D Fox Mrs C Fox
Company Number
10166793 (England and Wales)
Registered Office
Business Central 2 Union Square, Central Park Darlington County Durham DL1 1GL United Kingdom
Accountants
Lyons Watson Accountants Business Central 2 Union Square Darlington Co Durham DL1 1GL
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Infinite Wealth Group Limited Statement of financial position as at 31 May 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
679 
840 
Tangible assets
2,394 
2,992 
3,073 
3,832 
Current assets
Debtors
1,176 
5,642 
Cash at bank and in hand
1,048 
1,539 
2,224 
7,181 
Creditors: amounts falling due within one year
(36,133)
(28,979)
Net current liabilities
(33,909)
(21,798)
Total assets less current liabilities
(30,836)
(17,966)
Creditors: amounts falling due after more than one year
(9,771)
(10,792)
Provisions for liabilities
Deferred tax
- 
(568)
Net liabilities
(40,607)
(29,326)
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
(40,707)
(29,426)
Shareholders' funds
(40,607)
(29,326)
For the year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 19 January 2024 and were signed on its behalf by
Mr D Fox Director Company Registration No. 10166793
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Infinite Wealth Group Limited Notes to the Accounts for the year ended 31 May 2023
1
Statutory information
Infinite Wealth Group Limited is a private company, limited by shares, registered in England and Wales, registration number 10166793. The registered office is Business Central, 2 Union Square, Central Park, Darlington, County Durham, DL1 1GL, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
20% Reducing balance
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
4
Intangible fixed assets
Total 
£ 
Cost
At 1 June 2022
1,607 
At 31 May 2023
1,607 
Amortisation
At 1 June 2022
767 
Charge for the year
161 
At 31 May 2023
928 
Net book value
At 31 May 2023
679 
At 31 May 2022
840 
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Infinite Wealth Group Limited Notes to the Accounts for the year ended 31 May 2023
5
Tangible fixed assets
Total 
£ 
Cost or valuation
At 1 June 2022
5,489 
At 31 May 2023
5,489 
Depreciation
At 1 June 2022
2,497 
Charge for the year
598 
At 31 May 2023
3,095 
Net book value
At 31 May 2023
2,394 
At 31 May 2022
2,992 
6
Average number of employees
During the year the average number of employees was 1 (2022: 1).
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