Company registration number 08436496 (England and Wales)
Infinium Property Limited
Unaudited
financial statements
for the year ended 31 December 2023
PAGES FOR FILING WITH REGISTRAR
Infinium Property Limited
Contents
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 5
Infinium Property Limited
Statement of financial position
as at 31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investment property
3
300,714
300,714
Investments
4
134,237
122,237
434,951
422,951
Current assets
Debtors
5
2,279
50,038
Cash at bank and in hand
100
100
2,379
50,138
Creditors: amounts falling due within one year
6
(328,221)
(265,495)
Net current liabilities
(325,842)
(215,357)
Total assets less current liabilities
109,109
207,594
Creditors: amounts falling due after more than one year
7
(19,149)
(29,167)
Net assets
89,960
178,427
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
89,860
178,327
Total equity
89,960
178,427

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Infinium Property Limited
Statement of financial position (continued)
as at 31 December 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 17 September 2024 and are signed on its behalf by:
J Lee
Director
Company registration number 08436496 (England and Wales)
Infinium Property Limited
Notes to the Financial Statements
for the year ended 31 December 2023
- 3 -
1
Accounting policies
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Turnover

Turnover represents the fair value of the consideration received for services provided in the normal course of business, and is shown net of VAT.

 

Turnover is recognised on provision of contractual service obligations where a right to consideration is due.

Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure.

Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
2
2
Infinium Property Limited
Notes to the Financial Statements (continued)
for the year ended 31 December 2023
- 4 -
3
Investment property
2023
£
Fair value
At 1 January 2023 and 31 December 2023
300,714

The freehold property is included at the directors' opinion of the current market value on an arms-length basis at £300,714 (December 2022 : £300,714). In the opinion of the directors the value of the freehold properties remains valid as at 31 December 2023.

4
Fixed asset investments
2023
2022
£
£
Investments
134,237
122,237
Movements in fixed asset investments
Investments
£
Cost or valuation
At 1 January 2023
122,237
Additions
12,000
At 31 December 2023
134,237
Carrying amount
At 31 December 2023
134,237
At 31 December 2022
122,237
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
909
909
Other debtors
1,370
49,129
2,279
50,038
Infinium Property Limited
Notes to the Financial Statements (continued)
for the year ended 31 December 2023
- 5 -
6
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
33,690
32,715
Trade creditors
4,780
1,000
Corporation tax
14,186
12,106
Amounts due to connected companies
273,565
217,674
Accruals and deferred income
2,000
2,000
328,221
265,495
7
Creditors: amounts falling due after more than one year
2023
2022
Notes
£
£
Bank loans and overdrafts
19,149
29,167
8
Parent company

The company's parent company is Infinium Holdings Limited, a company registered in England and Wales, whose registered office is situated at West House, King Cross Road, HX1 1EB.

9
Company information

Infinium Property Limited is a private company limited by shares incorporated in England and Wales. The registered office is West House, King Cross Road, Halifax, West Yorkshire, HX1 1EB.

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