Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31false172023-01-01falseNo description of principal activity15false 05723886 2023-01-01 2023-12-31 05723886 2022-01-01 2022-12-31 05723886 2023-12-31 05723886 2022-12-31 05723886 2022-01-01 05723886 c:Director1 2023-01-01 2023-12-31 05723886 c:Director1 2023-12-31 05723886 c:Director2 2023-01-01 2023-12-31 05723886 c:Director2 2023-12-31 05723886 c:Director3 2023-01-01 2023-12-31 05723886 c:Director3 2023-12-31 05723886 c:Director4 2023-01-01 2023-12-31 05723886 c:Director4 2023-12-31 05723886 c:Director5 2023-01-01 2023-12-31 05723886 c:Director5 2023-12-31 05723886 c:Director6 2023-01-01 2023-12-31 05723886 c:Director6 2023-12-31 05723886 c:Director7 2023-01-01 2023-12-31 05723886 c:Director7 2023-12-31 05723886 c:Director8 2023-01-01 2023-12-31 05723886 c:Director8 2023-12-31 05723886 c:Director9 2023-01-01 2023-12-31 05723886 c:Director9 2023-12-31 05723886 c:RegisteredOffice 2023-01-01 2023-12-31 05723886 d:FurnitureFittings 2023-01-01 2023-12-31 05723886 d:FurnitureFittings 2023-12-31 05723886 d:FurnitureFittings 2022-12-31 05723886 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 05723886 d:ComputerEquipment 2023-01-01 2023-12-31 05723886 d:ComputerEquipment 2023-12-31 05723886 d:ComputerEquipment 2022-12-31 05723886 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 05723886 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 05723886 d:CurrentFinancialInstruments 2023-12-31 05723886 d:CurrentFinancialInstruments 2022-12-31 05723886 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 05723886 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 05723886 d:ShareCapital 2023-01-01 2023-12-31 05723886 d:ShareCapital 2023-12-31 05723886 d:ShareCapital 2022-12-31 05723886 d:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 05723886 d:RetainedEarningsAccumulatedLosses 2023-12-31 05723886 d:RetainedEarningsAccumulatedLosses 2022-12-31 05723886 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 05723886 d:AcceleratedTaxDepreciationDeferredTax 2022-12-31 05723886 c:FRS102 2023-01-01 2023-12-31 05723886 c:Audited 2023-01-01 2023-12-31 05723886 c:FullAccounts 2023-01-01 2023-12-31 05723886 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 05723886 d:EntityControlledByKeyManagementPersonnel1 2023-01-01 2023-12-31 05723886 d:EntityControlledByKeyManagementPersonnel1 2023-12-31 05723886 d:EntityControlledByKeyManagementPersonnel1 2022-12-31 05723886 2 2023-01-01 2023-12-31 05723886 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 05723886










INFINITY TRAVEL LIMITED










DIRECTORS' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
INFINITY TRAVEL LIMITED
 
 
COMPANY INFORMATION


Directors
H Daras 
J Oshiokpekhai 
J D O'Hara 
A Taiwo 




Registered number
05723886



Registered office
First Floor, 101 St. Martin's Lane

London

WC2N 4AZ




Independent auditors
Xeinadin Audit Limited
Chartered Accountants & Statutory Auditor

8th Floor, Becket House

36 Old Jewry

London

EC2R 8DD





 
INFINITY TRAVEL LIMITED
 

CONTENTS



Page
Directors' report
1 - 2
Independent auditors' report
3 - 7
Profit and loss account
8
Statement of comprehensive income
9
Balance sheet
10
Statement of changes in equity
11
Notes to the financial statements
12 - 17


 
INFINITY TRAVEL LIMITED
 
 
 
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023

The directors present their report and the financial statements for the year ended 31 December 2023.

Directors' responsibilities statement

The directors are responsible for preparing the Directors' report and the financial statements in accordance with applicable law and regulations.
 
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.

 In preparing these financial statements, the directors are required to:


select suitable accounting policies for the Company's financial statements and then apply them consistently;

make judgments and accounting estimates that are reasonable and prudent;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Directors

The directors who served during the year were:

A H Chemla (resigned 31 December 2023)
H Daras (appointed 10 February 2023)
J Oshiokpekhai (appointed 1 July 2023)
J D O'Hara (appointed 10 February 2023)
A Taiwo (appointed 10 February 2023)
M C Cleary resigned 10 February 2023)
P Cross (resigned 10 February 2023)
N A Hickman (resigned 10 February 2023)
K S Robinson (resigned 10 February 2023)

Disclosure of information to auditors

Each of the persons who are directors at the time when this Directors' report is approved has confirmed that:
 
so far as the director is aware, there is no relevant audit information of which the Company's auditors are unaware, and

the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information.

Page 1

 
INFINITY TRAVEL LIMITED
 
 
 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023

Auditors

The auditorsXeinadin Audit Limited were appointed and will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

Small companies note

In preparing this report, the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

This report was approved by the board and signed on its behalf.
 





................................................
A Taiwo
Director

Date: 26 June 2024

First Floor, 101 St. Martin's Lane
London
WC2N 4AZ

Page 2

 
INFINITY TRAVEL LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF INFINITY TRAVEL LIMITED
 

Opinion


We have audited the financial statements of Infinity Travel Limited (the 'Company') for the year ended 31 December 2023, which comprise the Profit and loss account, the Statement of comprehensive income, the Balance sheet, the Statement of changes in equity and the related notes, including a summary of significant accounting policiesThe financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).


In our opinion the financial statements:


give a true and fair view of the state of the Company's affairs as at 31 December 2023 and of its profit for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.


Basis for opinion


We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.


Conclusions relating to going concern


In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.


Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.


Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.


Page 3

 
INFINITY TRAVEL LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF INFINITY TRAVEL LIMITED (CONTINUED)


Other information


The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The directors are responsible for the other information contained within the Annual ReportOur opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.


We have nothing to report in this regard.


Opinion on other matters prescribed by the Companies Act 2006
 

In our opinion, based on the work undertaken in the course of the audit:


the information given in the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Directors' report has been prepared in accordance with applicable legal requirements.


Matters on which we are required to report by exception
 

In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors' report.


We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:


adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit; or
the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Directors' report and from the requirement to prepare a Strategic report.


Page 4

 
INFINITY TRAVEL LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF INFINITY TRAVEL LIMITED (CONTINUED)


Responsibilities of directors
 

As explained more fully in the Directors' responsibilities statement set out on page 1, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.


In preparing the financial statements, the directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so.


Page 5

 
INFINITY TRAVEL LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF INFINITY TRAVEL LIMITED (CONTINUED)


Auditors' responsibilities for the audit of the financial statements
 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.


Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

•Enquiry of management and those charged with governance around actual and potential litigation and claims;
•Reviewing minutes of meetings of meetings of those charged with governance;
•Performing audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias 
•Enquiry of management and those charged with governance to identify any instances of non-compliance with laws and regulations;
The potential effect of these laws and regulations on the financial statements varies considerably.
Firstly, the Company is subject to laws and regulations that directly affect the financial statements including financial reporting legislation (including related companies legislation), distributable profits legislation and taxation legislation and we assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items.
Secondly, the Company is subject to many other laws and regulations where the consequence of non-compliance could have a material effect on amounts or disclosures in the financial statements, for instance the imposition of fines or litigation or the loss of the Company’s license to operate. We identified the following areas as those most likely to have such an effect: health and safety including data protection laws, employment law and compliance recognising the nature of the Company’s activities.
Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations
to enquiry of the directors and other management and inspection of regulatory and legal correspondence, if any.
Therefore, if a breach of operational regulations is not disclosed to us or evident from relevant correspondence,
an audit will not detect that breach.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including
those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk
increases the more that compliance with a law or regulation is removed from the events and transactions
reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance.
The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves
intentional concealment, forgery, collusion, omission or misrepresentation.
We communicate with those charged with governance regarding, among other matters, the planned scope and
timing of the audit and significant audit findings, including any significant deficiencies in internal control that we
identify during our audit.


A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.

Page 6

 
INFINITY TRAVEL LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF INFINITY TRAVEL LIMITED (CONTINUED)



Use of our report
 

This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.





Yasin Khandwalla FCCA (Senior statutory auditor)
  
for and on behalf of
Xeinadin Audit Limited
 
Chartered Accountants
Statutory Auditor
  
8th Floor, Becket House
36 Old Jewry
London
EC2R 8DD

26 June 2024
Page 7

 
INFINITY TRAVEL LIMITED
 
 
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2023

2023
2022
Note
£
£

  

Turnover
  
1,502,804
1,977,554

Gross profit
  
1,502,804
1,977,554

Administrative expenses
  
(901,798)
(967,115)

Operating profit
  
601,006
1,010,439

Interest receivable and similar income
  
13,971
1,692

Interest payable and similar expenses
  
(1,551)
(70)

Profit before tax
  
613,426
1,012,061

Tax on profit
  
(71,955)
(192,761)

Profit for the financial year
  
541,471
819,300

There are no items of other comprehensive income for 2023 or 2022 other than the profit for the year

The notes on pages 12 to 17 form part of these financial statements.

Page 8

 
INFINITY TRAVEL LIMITED
 

STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2023

2023
2022
Note
£
£


Profit for the financial year

  

541,471
819,300

Other comprehensive income
  

Total comprehensive income for the year
  
541,471
819,300

The notes on pages 12 to 17 form part of these financial statements.

Page 9

 
INFINITY TRAVEL LIMITED
REGISTERED NUMBER: 05723886

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
-
1,597

  
-
1,597

Current assets
  

Debtors
 6 
12,948
88,185

Cash at bank and in hand
 7 
1,324,038
967,778

  
1,336,986
1,055,963

Creditors: amounts falling due within one year
 8 
(631,778)
(393,556)

Net current assets
  
 
 
705,208
 
 
662,407

Total assets less current liabilities
  
705,208
664,004

Provisions for liabilities
  

Deferred tax
 9 
-
(267)

  
 
 
-
 
 
(267)

Net assets
  
705,208
663,737


Capital and reserves
  

Called up share capital 
  
1,000
1,000

Profit and loss account
  
704,208
662,737

  
705,208
663,737


The Company's financial statements have been prepared in accordance with the 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 26 June 2024.




A Taiwo
Director

The notes on pages 12 to 17 form part of these financial statements.

Page 10

 
INFINITY TRAVEL LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 January 2023
1,000
662,737
663,737


Comprehensive income for the year

Profit for the year

-
541,471
541,471


Other comprehensive income for the year
-
-
-


Total comprehensive income for the year
-
541,471
541,471


Contributions by and distributions to owners

Dividends: Equity capital
-
(500,000)
(500,000)


Total transactions with owners
-
(500,000)
(500,000)


At 31 December 2023
1,000
704,208
705,208


The notes on pages 12 to 17 form part of these financial statements.

Page 11

 
INFINITY TRAVEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Infinity Travel Limited is a private company limited by shares incorporated in England and Wales, United
Kingdom.
The address of the registered office is: 101 St. Martin's Lane, London, WC2N 4AZ.

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

 
2.2

Revenue

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period.
When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable. 

 
2.3

Interest incom

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

 
2.4

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.

 
2.5

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 12

 
INFINITY TRAVEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.6

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.

 
2.7

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.

Depreciation 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:

Fixtures and fittings
-
20%
straight line
Computer equipment
-
25%
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.

Page 13

 
INFINITY TRAVEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.8

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.

 
2.9

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.

 
2.10

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.

  
2.11

Financial instruments

A financial asset or financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financial transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.

 
2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

In the application of the company's accounting policies, the directors are required to make judgments, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based historical experience and other factors that are recognised to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods.

Page 14

 
INFINITY TRAVEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Employees

The average monthly number of employees, including the directors, during the year was as follows:


        2023
        2022
            No.
            No.







Business travel consultants
11
12



Directors
4
5

15
17


5.


Tangible fixed assets





Fixtures and fittings
Computer equipment
Total

£
£
£



Cost or valuation


At 1 January 2023
17,844
9,658
27,502



At 31 December 2023

17,844
9,658
27,502



Depreciation


At 1 January 2023
17,076
8,829
25,905


Charge for the year on owned assets
768
829
1,597



At 31 December 2023

17,844
9,658
27,502



Net book value



At 31 December 2023
-
-
-

Page 15

 
INFINITY TRAVEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Debtors


2023
2022
£
£



Trade debtors
284
743

Amounts owed by group undertakings
-
87,222

Other debtors
11,839
220

Deferred taxation
825
-

12,948
88,185



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
1,324,038
967,778

1,324,038
967,778



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
218
363

Amounts owed to group undertakings
130,296
-

Corporation tax
73,047
193,238

Other taxation and social security
148,338
175,144

Other creditors
255,686
3,739

Accruals and deferred income
24,193
21,072

631,778
393,556


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INFINITY TRAVEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

9.


Deferred taxation




2023
2022


£

£






At beginning of year
(267)
210


Charged to profit or loss
1,092
(477)



At end of year
825
(267)

The deferred taxation balance is made up as follows:

2023
2022
£
£


Short term timing differences
825
(267)

825
(267)


10.


Pension commitments

The company operates a defined contribution pension scheme. The scheme and its assets are held by independent managers. The pension charge represents contributions due from the company and amounted to £47,481 (2022: £32,586).


11.


Related party transactions

The Company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.
At the year end the Company owed £130,216 (2022: owed by £87,222) to Altour International Limited.


12.


Controlling party

The company's immediate parent undertaking is Altour International Limited, a company registered in England and Wales. Its registered office is 101 St. Martin's Lane, First Floor, London, WC2N 4AZ.
Altour International Limited is 100% owned by Global Travel Collections UK, Ltd is the company that draws up consolidated financial statements.
Altour International Limited's ultimate controlling party is Internova Holdings LLC, a company incorporated in Delaware, USA.

 
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