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Registered number: 12808866
Infinity Secure Solutions Ltd
Unaudited Financial Statements
For The Year Ended 31 January 2024
GRH Accountancy Ltd
Cql House Alington Road
Little Barford
St. Neots
PE19 6YH
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 12808866
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 64,818 18,773
64,818 18,773
CURRENT ASSETS
Stocks 5 3,000 3,000
Debtors 6 71,834 46,623
Cash at bank and in hand 61,218 47,578
136,052 97,201
Creditors: Amounts Falling Due Within One Year 7 (92,893 ) (42,585 )
NET CURRENT ASSETS (LIABILITIES) 43,159 54,616
TOTAL ASSETS LESS CURRENT LIABILITIES 107,977 73,389
Creditors: Amounts Falling Due After More Than One Year 8 - (10,750 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (11,701 ) (3,567 )
NET ASSETS 96,276 59,072
CAPITAL AND RESERVES
Called up share capital 9 2 2
Profit and Loss Account 96,274 59,070
SHAREHOLDERS' FUNDS 96,276 59,072
Page 1
Page 2
For the year ending 31 January 2024 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 Rosanna Spence
Director
17/07/2024
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
Infinity Secure Solutions Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12808866 . The registered office is 6 Poplar Close, Roxton, Bedford, MK44 3EG.
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. 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:
Plant & Machinery 20% Cost
Motor Vehicles 20% Cost
Fixtures & Fittings 33.3% Cost
Computer Equipment 33.3% Cost
2.4. 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.
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2.5. 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.
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: 2 (2023: 2)
2 2
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 February 2023 7,150 19,899 424 3,404 30,877
Additions 1,334 58,831 146 4,205 64,516
As at 31 January 2024 8,484 78,730 570 7,609 95,393
Depreciation
As at 1 February 2023 2,401 7,560 141 2,002 12,104
Provided during the period 682 15,746 141 1,902 18,471
As at 31 January 2024 3,083 23,306 282 3,904 30,575
Net Book Value
As at 31 January 2024 5,401 55,424 288 3,705 64,818
As at 1 February 2023 4,749 12,339 283 1,402 18,773
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5. Stocks
2024 2023
£ £
Stock 3,000 3,000
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 70,943 44,644
Prepayments and accrued income 891 1,979
71,834 46,623
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 3,299 4,994
Corporation tax 23,489 18,548
Other taxes and social security 166 -
VAT 22,899 18,239
Accruals and deferred income 1,325 -
Directors' loan accounts 41,715 804
92,893 42,585
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans - 10,750
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
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