Acorah Software Products - Accounts Production 15.0.500 false true 31 October 2022 1 November 2021 false 1 November 2022 31 October 2023 31 October 2023 07792792 Mr Mohammad Farhan Shaikh Mrs Nazmeen Shaikh Mr Mohammad Ashraf Shaikh iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07792792 2022-10-31 07792792 2023-10-31 07792792 2022-11-01 2023-10-31 07792792 frs-core:CurrentFinancialInstruments 2023-10-31 07792792 frs-core:Non-currentFinancialInstruments 2023-10-31 07792792 frs-core:FurnitureFittings 2023-10-31 07792792 frs-core:FurnitureFittings 2022-11-01 2023-10-31 07792792 frs-core:FurnitureFittings 2022-10-31 07792792 frs-core:NetGoodwill 2023-10-31 07792792 frs-core:NetGoodwill 2022-11-01 2023-10-31 07792792 frs-core:NetGoodwill 2022-10-31 07792792 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-10-31 07792792 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2022-11-01 2023-10-31 07792792 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2022-10-31 07792792 frs-core:MotorVehicles 2023-10-31 07792792 frs-core:MotorVehicles 2022-11-01 2023-10-31 07792792 frs-core:MotorVehicles 2022-10-31 07792792 frs-core:PlantMachinery 2023-10-31 07792792 frs-core:PlantMachinery 2022-11-01 2023-10-31 07792792 frs-core:PlantMachinery 2022-10-31 07792792 frs-core:RevaluationReserve 2022-10-31 07792792 frs-core:RevaluationReserve 2023-10-31 07792792 frs-core:ShareCapital 2023-10-31 07792792 frs-core:RetainedEarningsAccumulatedLosses 2023-10-31 07792792 frs-bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 07792792 frs-bus:FilletedAccounts 2022-11-01 2023-10-31 07792792 frs-bus:SmallEntities 2022-11-01 2023-10-31 07792792 frs-bus:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 07792792 frs-bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 07792792 frs-bus:Director1 2022-11-01 2023-10-31 07792792 frs-bus:Director2 2022-11-01 2023-10-31 07792792 frs-bus:Director3 2022-11-01 2023-10-31 07792792 frs-countries:EnglandWales 2022-11-01 2023-10-31 07792792 2021-10-31 07792792 2022-10-31 07792792 2021-11-01 2022-10-31 07792792 frs-core:CurrentFinancialInstruments 2022-10-31 07792792 frs-core:Non-currentFinancialInstruments 2022-10-31 07792792 frs-core:RevaluationReserve 2022-10-31 07792792 frs-core:ShareCapital 2022-10-31 07792792 frs-core:RetainedEarningsAccumulatedLosses 2022-10-31
Registered number: 07792792
INFINITE ENGINEERING LIMITED
Unaudited Financial Statements
For The Year Ended 31 October 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07792792
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 100,000 112,500
Tangible Assets 5 278,470 290,829
378,470 403,329
CURRENT ASSETS
Stocks 6 5,150 4,300
Debtors 7 186,333 219,403
Cash at bank and in hand 9,765 46,699
201,248 270,402
Creditors: Amounts Falling Due Within One Year 8 (182,356 ) (220,540 )
NET CURRENT ASSETS (LIABILITIES) 18,892 49,862
TOTAL ASSETS LESS CURRENT LIABILITIES 397,362 453,191
Creditors: Amounts Falling Due After More Than One Year 9 (256,231 ) (321,705 )
NET ASSETS 141,131 131,486
CAPITAL AND RESERVES
Called up share capital 10 300 300
Revaluation reserve 11 63,614 63,614
Profit and Loss Account 77,217 67,572
SHAREHOLDERS' FUNDS 141,131 131,486
Page 1
Page 2
For the year ending 31 October 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.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs Nazmeen Shaikh
Director
31/07/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
INFINITE ENGINEERING LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 07792792 . The registered office is 11 Bolton Street, Bordesley Green, Birmingham, West Midlands, B9 4HH.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 25%
Plant & Machinery 25%
Motor Vehicles 25%
Fixtures & Fittings 25%
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
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2.6. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 11 (2022: 9)
11 9
4. Intangible Assets
Goodwill
£
Cost
As at 1 November 2022 250,000
As at 31 October 2023 250,000
Amortisation
As at 1 November 2022 137,500
Provided during the period 12,500
As at 31 October 2023 150,000
Net Book Value
As at 31 October 2023 100,000
As at 1 November 2022 112,500
5. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £ £
Cost
As at 1 November 2022 241,394 440,316 1,437 4,838 687,985
As at 31 October 2023 241,394 440,316 1,437 4,838 687,985
Depreciation
As at 1 November 2022 - 391,588 1,376 4,192 397,156
Provided during the period - 12,182 15 162 12,359
As at 31 October 2023 - 403,770 1,391 4,354 409,515
Net Book Value
As at 31 October 2023 241,394 36,546 46 484 278,470
As at 1 November 2022 241,394 48,728 61 646 290,829
Page 4
Page 5
6. Stocks
2023 2022
£ £
Materials 5,150 4,300
7. Debtors
2023 2022
£ £
Due within one year
Trade debtors 107,342 133,153
Other debtors 78,991 86,250
186,333 219,403
8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 56,575 46,787
Other creditors 68,598 108,317
Taxation and social security 57,183 65,436
182,356 220,540
9. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 37,969 43,148
Other creditors 218,262 278,557
256,231 321,705
10. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 300 300
11. Reserves
Revaluation Reserve
£
As at 1 November 2022 63,614
As at 31 October 2023 63,614
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