Registration number:
Infinity Construction & Design Limited
for the Year Ended 30 April 2023
Infinity Construction & Design Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Infinity Construction & Design Limited
Company Information
Directors |
Mr Daniel Klein-Essink Mrs Lynda Klein-Essink |
Registered office |
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Accountants |
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Infinity Construction & Design Limited
(Registration number: 11964610)
Balance Sheet as at 30 April 2023
Note |
2023 |
2022 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
- |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
1 |
1 |
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Retained earnings |
10,757 |
1,923 |
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Shareholders' funds |
10,758 |
1,924 |
For the financial year ending 30 April 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
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.
Infinity Construction & Design Limited
(Registration number: 11964610)
Balance Sheet as at 30 April 2023
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 Directors have not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
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Infinity Construction & Design Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023
General information |
The Company is a private company limited by share capital, incorporated in England & Wales.
The address of its registered office is:
England
England
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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
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.
These financial statements have been prepared and presented in UK Pound Sterling (£) which is the functional currency of the Company. The financial statements have been rounded to the nearest whole £.
Going concern
The financial statements have been prepared on a going concern basis.
The Directors have reviewed the adoption of the going concern basis and have concluded that it is appropriate as the Company is expected to meet its obligations for the foreseeable future (12 months from the signing of the balance sheet).
Infinity Construction & Design Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023
Judgements
No significant judgements have been made by management in the preparation of these financial statements. |
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/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.
The Company recognises construction contract revenue and costs by reference to the stage of completion of
the contract activity at the end of the reporting period.
Finance income and costs policy
Interest income is recognised in the profit and loss account using the effective interest method. Interest costs are also charged to the profit and loss account over the term of the debt using effective interest method so that the amount charged is at a constant rate on the carrying amount.
Tax
The tax expense for the period comprises current 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.
Tangible assets
Tangible assets are stated in the balance sheet 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.
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 |
Furniture, fittings & equipment |
33% Straight Line |
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.
Infinity Construction & Design Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023
Trade debtors
Trade debtors are amounts due from customers for services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable 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.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Borrowings are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
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.
Dividends
Dividend distribution to the Company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Staff numbers |
The average number of persons employed by the Company (including Directors) during the year, was
Profit before tax |
Arrived at after charging/(crediting)
2023 |
2022 |
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Depreciation expense |
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Infinity Construction & Design Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023
Tangible assets |
Furniture, fittings and equipment |
Total |
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Cost or valuation |
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At 1 May 2022 |
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At 30 April 2023 |
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Depreciation |
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At 1 May 2022 |
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Charge for the year |
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At 30 April 2023 |
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Carrying amount |
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At 30 April 2023 |
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At 30 April 2022 |
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Debtors |
Note |
2023 |
2022 |
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Trade debtors |
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- |
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Amounts owed by related parties |
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Prepayments |
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Other debtors |
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Infinity Construction & Design Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023
Creditors |
Creditors: amounts falling due within one year
Note |
2023 |
2022 |
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Due within one year |
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Loans and borrowings |
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Trade creditors |
- |
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Taxation and social security |
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Accruals and deferred income |
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Loans and borrowings includes bank loans of £4,065 (2022 - £7,130l) which are fully secured by the Government.
Creditors: amounts falling due after more than one year
Note |
2023 |
2022 |
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Due after one year |
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Loans and borrowings |
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Loans and borrowings include bank loans of £31,557 (2022 - £30,370) which are fully secured by the Government.
Loans and borrowings include bank loans repayable in more than 5 years of £4,894 (2022 - £Nil).
Loans and borrowings |
2023 |
2022 |
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Current loans and borrowings |
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Bank borrowings |
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Bank overdrafts |
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- |
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2023 |
2022 |
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Non-current loans and borrowings |
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Bank borrowings |
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Infinity Construction & Design Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023
Related party transactions |
Transactions with Directors |
2023 |
At 1 May 2022 |
Advances to Director |
Repayments by Director |
At 30 April 2023 |
Advances made to directors during the period |
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( |
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2022 |
At 1 May 2021 |
Advances to Director |
Repayments by Director |
At 30 April 2022 |
Advances made to directors during the period |
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( |
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Interest is charged at a rate of 2.00% to 5 April 2023 and 2.25% from 6 April 2023 per annum on balances that exceed £10,000 per Director.