Caseware UK (AP4) 2023.0.135 2023.0.135 2023-06-302023-06-30The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.152022-07-01falseNo description of principal activity13truetruefalse 02460631 2022-07-01 2023-06-30 02460631 2021-07-01 2022-06-30 02460631 2023-06-30 02460631 2022-06-30 02460631 c:Director2 2022-07-01 2023-06-30 02460631 d:Buildings 2022-07-01 2023-06-30 02460631 d:Buildings 2023-06-30 02460631 d:Buildings 2022-06-30 02460631 d:Buildings d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 02460631 d:Buildings d:LeasedAssetsHeldAsLessee 2022-07-01 2023-06-30 02460631 d:PlantMachinery 2022-07-01 2023-06-30 02460631 d:PlantMachinery 2023-06-30 02460631 d:PlantMachinery 2022-06-30 02460631 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 02460631 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2022-07-01 2023-06-30 02460631 d:MotorVehicles 2022-07-01 2023-06-30 02460631 d:MotorVehicles 2023-06-30 02460631 d:MotorVehicles 2022-06-30 02460631 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 02460631 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2022-07-01 2023-06-30 02460631 d:FurnitureFittings 2022-07-01 2023-06-30 02460631 d:FurnitureFittings 2023-06-30 02460631 d:FurnitureFittings 2022-06-30 02460631 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 02460631 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2022-07-01 2023-06-30 02460631 d:OfficeEquipment 2022-07-01 2023-06-30 02460631 d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 02460631 d:LeasedAssetsHeldAsLessee 2022-07-01 2023-06-30 02460631 d:Goodwill 2023-06-30 02460631 d:Goodwill 2022-06-30 02460631 d:CopyrightsPatentsTrademarksServiceOperatingRights 2023-06-30 02460631 d:CopyrightsPatentsTrademarksServiceOperatingRights 2022-06-30 02460631 d:CurrentFinancialInstruments 2023-06-30 02460631 d:CurrentFinancialInstruments 2022-06-30 02460631 d:Non-currentFinancialInstruments 2023-06-30 02460631 d:Non-currentFinancialInstruments 2022-06-30 02460631 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 02460631 d:CurrentFinancialInstruments d:WithinOneYear 2022-06-30 02460631 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 02460631 d:Non-currentFinancialInstruments d:AfterOneYear 2022-06-30 02460631 d:ShareCapital 2023-06-30 02460631 d:ShareCapital 2022-06-30 02460631 d:SharePremium 2023-06-30 02460631 d:SharePremium 2022-06-30 02460631 d:RetainedEarningsAccumulatedLosses 2023-06-30 02460631 d:RetainedEarningsAccumulatedLosses 2022-06-30 02460631 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-06-30 02460631 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-06-30 02460631 c:FRS102 2022-07-01 2023-06-30 02460631 c:AuditExemptWithAccountantsReport 2022-07-01 2023-06-30 02460631 c:FullAccounts 2022-07-01 2023-06-30 02460631 c:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 02460631 d:HirePurchaseContracts d:WithinOneYear 2023-06-30 02460631 d:HirePurchaseContracts d:WithinOneYear 2022-06-30 02460631 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-06-30 02460631 d:HirePurchaseContracts d:BetweenOneFiveYears 2022-06-30 02460631 2 2022-07-01 2023-06-30 02460631 6 2022-07-01 2023-06-30 02460631 d:AcceleratedTaxDepreciationDeferredTax 2023-06-30 02460631 d:AcceleratedTaxDepreciationDeferredTax 2022-06-30 02460631 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-06-30 02460631 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2022-06-30 02460631 d:LeasedAssetsHeldAsLessee 2023-06-30 02460631 d:LeasedAssetsHeldAsLessee 2022-06-30 02460631 e:PoundSterling 2022-07-01 2023-06-30 iso4217:GBP xbrli:pure

Registered number: 02460631









INFRAGLO (SHEFFIELD) LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2023

 
INFRAGLO (SHEFFIELD) LIMITED
 
 
  
ACCOUNTANT'S REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF INFRAGLO (SHEFFIELD) LIMITED
FOR THE YEAR ENDED 30 JUNE 2023

You consider that the Company is exempt from an audit for the year ended 30 June 2023. You have acknowledged, on the Balance sheet, your responsibilities for ensuring that the Company keeps adequate accounting records which comply with section 386 of the Companies Act 2006, and for preparing the financial statements which give a true and fair view of the state of affairs of the Company and of its profit or loss for the financial year.

In accordance with your instructions, I have prepared the financial statements on pages 13 from the accounting records of the Company and on the basis of information and explanations you have given to me.

I have not carried out an audit or any other review, and consequently I do not express any opinion on these financial statements.

  










J D Pennington
Accountant
Granton Parkway Suite
Parkway Close
Sheffield
South Yorkshire
S9 4WJ
14 March 2024
Page 1

 
INFRAGLO (SHEFFIELD) LIMITED
REGISTERED NUMBER: 02460631

BALANCE SHEET
AS AT 30 JUNE 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
157,041
168,971

Investments
 6 
40,000
40,000

  
197,041
208,971

Current assets
  

Stocks
  
274,205
178,171

Debtors: amounts falling due within one year
 7 
118,700
162,801

Cash at bank and in hand
 8 
419,545
300,678

  
812,450
641,650

Creditors: amounts falling due within one year
 9 
(181,000)
(144,179)

Net current assets
  
 
 
631,450
 
 
497,471

Total assets less current liabilities
  
828,491
706,442

Creditors: amounts falling due after more than one year
 10 
(5,080)
(17,271)

Provisions for liabilities
  

Deferred tax
 13 
(27,297)
(29,164)

  
 
 
(27,297)
 
 
(29,164)

Net assets
  
796,114
660,007


Capital and reserves
  

Called up share capital 
  
14,300
14,300

Share premium account
  
319,033
319,033

Profit and loss account
  
462,781
326,674

  
796,114
660,007


Page 2

 
INFRAGLO (SHEFFIELD) LIMITED
REGISTERED NUMBER: 02460631
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 14 March 2024.






S Crane
Director

Page 3

 
INFRAGLO (SHEFFIELD) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1.


General information

Infraglo (Sheffield) Ltd is a private company limited by shares incorporated in England & Wales. The registered office is Dannemorra Drive, Greenland Road Industrial Estate, Sheffield, S9 5DF, England

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Operating leases: the Company as lessee

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

Page 4

 
INFRAGLO (SHEFFIELD) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.4

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

 
2.5

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of comprehensive income in the same period as the related expenditure.

 
2.6

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 5

 
INFRAGLO (SHEFFIELD) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.9

Current and deferred taxation

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

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.10

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Page 6

 
INFRAGLO (SHEFFIELD) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.11

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Land is not depreciated. Depreciation on other assets is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
10%
straight line
Motor vehicles
-
25%
straight line
Fixtures and fittings
-
20%
straight line
Office equipment
-
20%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.12

Valuation of investments

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.13

Associates and joint ventures

Associates and Joint Ventures are held at cost less impairment.

 
2.14

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

Page 7

 
INFRAGLO (SHEFFIELD) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.15

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.16

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.17

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.18

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.19

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.


3.


Employees

The average monthly number of employees, including directors, during the year was 13 (2022 - 15).

Page 8

 
INFRAGLO (SHEFFIELD) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

4.


Intangible assets




Website
Goodwill
Total

£
£
£



Cost


At 1 July 2022
2,550
15,000
17,550



At 30 June 2023

2,550
15,000
17,550



Amortisation


At 1 July 2022
2,550
15,000
17,550



At 30 June 2023

2,550
15,000
17,550



Net book value



At 30 June 2023
-
-
-



At 30 June 2022
-
-
-



Page 9

 
INFRAGLO (SHEFFIELD) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

5.


Tangible fixed assets





Freehold property
Plant and machinery
Motor vehicles
Fixtures Fittings& equipment
Total

£
£
£
£
£



Cost or valuation


At 1 July 2022
13,375
153,657
165,535
85,090
417,657


Additions
-
4,697
29,999
6,298
40,994


Disposals
-
-
(24,073)
-
(24,073)



At 30 June 2023

13,375
158,354
171,461
91,388
434,578



Depreciation


At 1 July 2022
-
123,411
52,917
72,358
248,686


Charge for the year on owned assets
-
5,285
16,197
3,962
25,444


Charge for the year on financed assets
-
-
12,444
-
12,444


Disposals
-
-
(9,037)
-
(9,037)



At 30 June 2023

-
128,696
72,521
76,320
277,537



Net book value



At 30 June 2023
13,375
29,658
98,940
15,068
157,041



At 30 June 2022
13,375
30,246
112,618
12,732
168,971

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2023
2022
£
£



Motor vehicles
40,888
53,332

40,888
53,332

Page 10

 
INFRAGLO (SHEFFIELD) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

6.


Fixed asset investments





Investments in associates

£



Cost or valuation


At 1 July 2022
40,000



At 30 June 2023
40,000





7.


Debtors

2023
2022
£
£


Trade debtors
75,377
112,242

Other debtors
12,965
21,383

Prepayments and accrued income
30,358
29,176

118,700
162,801



8.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
419,545
300,678

419,545
300,678


Page 11

 
INFRAGLO (SHEFFIELD) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

9.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
62,502
55,009

Corporation tax
33,984
-

Other taxation and social security
34,545
32,985

Obligations under finance lease and hire purchase contracts
12,191
12,191

Other creditors
20,844
26,493

Accruals and deferred income
16,934
17,501

181,000
144,179



10.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Net obligations under finance leases and hire purchase contracts
5,080
17,271

5,080
17,271



11.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2023
2022
£
£


Within one year
12,191
12,191

Between 1-5 years
5,080
17,271

17,271
29,462


12.


Financial instruments

2023
2022
£
£

Financial assets


Financial assets measured at fair value through profit or loss
419,545
300,678



Page 12

 
INFRAGLO (SHEFFIELD) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

13.


Deferred taxation




2023


£






At beginning of year
(29,164)


Charged to profit or loss
1,867



At end of year
(27,297)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(27,297)
(29,164)

(27,297)
(29,164)


14.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £13,590 (2022 - £14,676).


15.


Controlling party

Kenmc Property Limited, Dannemora Drive, Greenland Road Industrial Estate, Sheffield, S9 5DF.
The company is exempt from the obligation to prepare and deliver group accounts of a larger group.

 
Page 13