Company Registration No. 12117794 (England and Wales)
Infinity Invest Ltd
Unaudited accounts
for the year ended 31 July 2024
Infinity Invest Ltd
Unaudited accounts
Contents
Infinity Invest Ltd
Company Information
for the year ended 31 July 2024
Company Number
12117794 (England and Wales)
Registered Office
8 St. Davids Crescent
Leicester
Leicestershire
LE2 2RL
England
Accountants
Advanced Tax Solutions Ltd t/a Tax Made Easy
Unit 24, King Street Buildings
Enderby
Leicester
Leicestershire
LE19 4NT
Infinity Invest Ltd
Statement of financial position
as at 31 July 2024
Intangible assets
147
3,575
Investment property
105,480
105,480
Cash at bank and in hand
683
777
Creditors: amounts falling due within one year
(39,887)
(42,975)
Net current liabilities
(39,133)
(42,198)
Total assets less current liabilities
66,494
66,857
Creditors: amounts falling due after more than one year
(81,454)
(81,200)
Net liabilities
(14,960)
(14,343)
Called up share capital
100
100
Profit and loss account
(15,060)
(14,443)
Shareholders' funds
(14,960)
(14,343)
For the year ending 31 July 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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 16 September 2024 and were signed on its behalf by
Mr Metash Jilka
Director
Company Registration No. 12117794
Infinity Invest Ltd
Notes to the Accounts
for the year ended 31 July 2024
Infinity Invest Ltd is a private company, limited by shares, registered in England and Wales, registration number 12117794. The registered office is 8 St. Davids Crescent, Leicester, Leicestershire, LE2 2RL, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Investments is shown at the most recent valuation. The aggregate surplus or deficit arising from changes in the fair value is recognized in the profit or loss.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
The directors have a reasonable expectation that the company has adequate resources to continue in operation for the foreseeable future. Thus they continue to adopt the going concern basis in the preparation of the financial statements.
Infinity Invest Ltd
Notes to the Accounts
for the year ended 31 July 2024
4
Intangible fixed assets
Other
Fair value at 1 August 2023
105,480
Investment property is included at market fair value. 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.
Amounts falling due after more than one year
Accrued income and prepayments
71
-
7
Creditors: amounts falling due within one year
2024
2023
Loans from directors
39,187
42,275
8
Creditors: amounts falling due after more than one year
2024
2023
Taxes and social security
254
-
Infinity Invest Ltd
Notes to the Accounts
for the year ended 31 July 2024
Allotted, called up and fully paid:
75 Ordinary shares A of £1 each
75
75
25 Ordinary shares B of £1 each
25
25
10
Average number of employees
During the year the average number of employees was 1 (2023: 1).