Registered number
11342059
Infinity Estate Investments Limited
Filleted Accounts
30 June 2023
Infinity Estate Investments Limited
Registered number: 11342059
Balance Sheet
as at 30 June 2023
Notes 2023 2022
£ £
Fixed assets
Investment Property 3 914,440 914,440
Current assets
Debtors 4 1,865 -
Cash at bank and in hand 7,432 15,396
9,297 15,396
Creditors: amounts falling due within one year 5 (3,891) (3,804)
Net current assets 5,406 11,592
Total assets less current liabilities 919,846 926,032
Creditors: amounts falling due after more than one year 6 (758,669) (762,780)
Provisions for liabilities (38,502) (38,502)
Net assets 122,675 124,750
Capital and reserves
Called up share capital 2 2
Revaluation reserve 7 164,142 164,142
Profit and loss account (41,469) (39,394)
Shareholders' funds 122,675 124,750
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.
J Davis
Director
Approved by the board on 18 March 2024
Infinity Estate Investments Limited
Notes to the Accounts
for the year ended 30 June 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 rents received.
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.
Taxation
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company - -
3 Investment Property
Land and buildings
£
Cost
At 1 July 2022 957,640
Additions 1,800
Surplus on revaluation (45,000)
At 30 June 2023 914,440
Depreciation
At 30 June 2023 -
Net book value
At 30 June 2023 914,440
At 30 June 2022 957,640
Investment property is included at fair value. Valuations were obtained by reputable agents as at the year end. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
4 Debtors 2023 2022
£ £
Trade debtors 1,865 -
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 2,214 2,214
Other creditors 1,677 1,590
3,891 3,804
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank Loans and Mortgages 422,723 426,423
Bank loans 4,453 6,453
Other creditors 331,493 329,904
758,669 762,780
7 Revaluation reserve 2023 2022
£ £
At 1 July 2022 164,142 200,592
Loss on revaluation of land and buildings - (45,000)
Deferred taxation arising on the revaluation of land and buildings - 8,550
At 30 June 2023 164,142 164,142
8 Other information
Infinity Estate Investments Limited is a private company limited by shares and incorporated in England. Its registered office is:
Forest Lodge
Grouse Road
Colgate
Horsham
West Sussex
RH13 6HT
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