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REGISTERED NUMBER: 07484364 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Infinity Apparel Limited

Infinity Apparel Limited (Registered number: 07484364)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Infinity Apparel Limited

Company Information
for the Year Ended 31 December 2023







DIRECTOR: D Cohen





REGISTERED OFFICE: 1 Central Street
Manchester
M2 5WR





REGISTERED NUMBER: 07484364 (England and Wales)





ACCOUNTANTS: Haines Watts
3rd Floor Pacific Chambers
11-13 Victoria Street
Liverpool
Merseyside
L2 5QQ

Infinity Apparel Limited (Registered number: 07484364)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £ £ £ £
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 267,084 329,947
267,084 329,947

CURRENT ASSETS
Stocks - 55,032
Debtors 6 1,242,192 782,049
Cash at bank 64,922 29,856
1,307,114 866,937
CREDITORS
Amounts falling due within one year 7 1,445,271 1,042,817
NET CURRENT LIABILITIES (138,157 ) (175,880 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

128,927

154,067

CREDITORS
Amounts falling due after more than one
year

8

(14,167

)

(24,167

)

PROVISIONS FOR LIABILITIES (64,028 ) (48,838 )
NET ASSETS 50,732 81,062

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Share premium 39,000 39,000
Retained earnings 10,732 41,062
50,732 81,062

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Infinity Apparel Limited (Registered number: 07484364)

Balance Sheet - continued
31 December 2023


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 24 September 2024 and were signed by:





D Cohen - Director


Infinity Apparel Limited (Registered number: 07484364)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Infinity Apparel Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - Over term of lease
Plant and machinery etc - 33% on cost, 15% on cost and 10% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Infinity Apparel Limited (Registered number: 07484364)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - 32 ).

4. INTANGIBLE FIXED ASSETS
Computer
Goodwill software Totals
£ £ £
COST
At 1 January 2023
and 31 December 2023 90,000 5,764 95,764
AMORTISATION
At 1 January 2023
and 31 December 2023 90,000 5,764 95,764
NET BOOK VALUE
At 31 December 2023 - - -
At 31 December 2022 - - -

5. TANGIBLE FIXED ASSETS
Fixtures
Long Plant and and Computer
leasehold machinery fittings equipment Totals
£ £ £ £ £
COST
At 1 January 2023 77,263 668,984 29,209 35,244 810,700
Additions - 3,000 - - 3,000
At 31 December 2023 77,263 671,984 29,209 35,244 813,700
DEPRECIATION
At 1 January 2023 40,083 387,192 19,012 34,466 480,753
Charge for year 880 61,102 3,347 534 65,863
At 31 December 2023 40,963 448,294 22,359 35,000 546,616
NET BOOK VALUE
At 31 December 2023 36,300 223,690 6,850 244 267,084
At 31 December 2022 37,180 281,792 10,197 778 329,947

Infinity Apparel Limited (Registered number: 07484364)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£ £
Trade debtors 1,222,693 732,283
Other debtors 2,521 4,458
Directors' current accounts - 31,155
Tax 16,978 3,991
Prepayments - 10,162
1,242,192 782,049

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£ £
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 11,882 33,478
Trade creditors 325,934 114,729
Amounts owed to group undertakings - 291,747
Tax - 16,974
Social security and other taxes 24,417 15,687
VAT 119,496 218,671
Other creditors 920,255 271,486
Directors' current accounts 16,845 -
Deferred income 4,875 4,875
Accrued expenses 11,567 65,170
1,445,271 1,042,817

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£ £
Bank loans - 1-2 years 14,167 24,167

9. SECURED DEBTS

Obligations due under finance leases and hire purchase contracts are secured on the related assets.

Other borrowings and amounts owed to group undertakings are secured by a legal charge with both a fixed and floating element over all the assets of the company.

Included in other creditors is an invoice discounting liability of £nil (2022 - £268,118) which is secured on the book debts of the book debts of the company and a legal charge with a fixed element over the assets of the company.

Borrowings are also secured by an omnibus guarantee in place across the company, the parent company and a company under common control with a legal fixed charge over all three companies.

Infinity Apparel Limited (Registered number: 07484364)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

10. RELATED PARTY DISCLOSURES

Within trade debtors are amounts due of £1,227,406 (2022 - £nil) from Infinity Incorporated Ltd, a company under common control.

Within trade creditors are amounts due of £319,242 (2022 - £7,500) to Infinity Incorporated Ltd.

Within other creditors are amounts due of £914,784 (2022 - £280,562).

11. ULTIMATE CONTROLLING PARTY

The ultimate parent Company is Infinity Incorporated Group Ltd, it's registered office is 1 Central Street, Manchester, M2 5WR.
The ultimate controlling party is considered to be D Cohen, Director. Subsequent to the year end, J Carter Sporting Club Ltd acquired the share capital in Infinity Incorporated Group Ltd from D Cohen.