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REGISTERED NUMBER: 03582519 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Infinity Incorporated Limited

Infinity Incorporated Limited (Registered number: 03582519)






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 Incorporated Limited

Company Information
for the Year Ended 31 December 2023







DIRECTOR: D Cohen





REGISTERED OFFICE: 1 Central Street
Manchester
M2 5WR





REGISTERED NUMBER: 03582519 (England and Wales)





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

Infinity Incorporated Limited (Registered number: 03582519)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £ £ £ £
FIXED ASSETS
Intangible assets 4 15,785 19,211
Tangible assets 5 191,776 166,939
207,561 186,150

CURRENT ASSETS
Stocks 183,893 45,477
Debtors 6 3,094,935 1,668,743
Cash at bank and in hand 64,958 90,570
3,343,786 1,804,790
CREDITORS
Amounts falling due within one year 7 2,722,598 1,230,475
NET CURRENT ASSETS 621,188 574,315
TOTAL ASSETS LESS CURRENT
LIABILITIES

828,749

760,465

CREDITORS
Amounts falling due after more than one
year

8

(116,163

)

(88,869

)

PROVISIONS FOR LIABILITIES (34,979 ) (24,027 )
NET ASSETS 677,607 647,569

CAPITAL AND RESERVES
Called up share capital 114 114
Retained earnings 677,493 647,455
677,607 647,569

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 Incorporated Limited (Registered number: 03582519)

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 Incorporated Limited (Registered number: 03582519)

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

1. STATUTORY INFORMATION

Infinity Incorporated 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 is being amortised evenly over its estimated useful life of 10 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.

Intangible assets acquired on business combinations are recognised separately from goodwill at the
acquisition date where it is probable that the expected future economic benefits that are attributable to the
asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their
following useful lives:

Patents and licences - 10 years
Software - 3 years
Web development - 10 years

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on reducing balance, 25% reducing balance and 15% on reducing balance

Stocks
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 items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

Infinity Incorporated Limited (Registered number: 03582519)

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

2. ACCOUNTING POLICIES - continued

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.

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 36 (2022 - 48 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£ £ £
COST
At 1 January 2023
and 31 December 2023 139,972 41,955 181,927
AMORTISATION
At 1 January 2023 139,972 22,744 162,716
Charge for year - 3,426 3,426
At 31 December 2023 139,972 26,170 166,142
NET BOOK VALUE
At 31 December 2023 - 15,785 15,785
At 31 December 2022 - 19,211 19,211

Infinity Incorporated Limited (Registered number: 03582519)

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

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£
COST
At 1 January 2023 441,653
Additions 104,325
At 31 December 2023 545,978
DEPRECIATION
At 1 January 2023 274,714
Charge for year 79,488
At 31 December 2023 354,202
NET BOOK VALUE
At 31 December 2023 191,776
At 31 December 2022 166,939

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£ £
Trade debtors 1,131,873 558,650
Amounts owed by group undertakings 797,643 913,025
Other debtors 1,165,419 197,068
3,094,935 1,668,743

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£ £
Bank loans and overdrafts 15,431 15,431
Hire purchase contracts 7,503 7,503
Trade creditors 1,981,336 941,611
Taxation and social security 71,168 45,046
Other creditors 647,160 220,884
2,722,598 1,230,475

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£ £
Bank loans 12,901 42,772
Hire purchase contracts 103,262 46,097
116,163 88,869

Infinity Incorporated Limited (Registered number: 03582519)

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

9. RELATED PARTY DISCLOSURES

Within trade debtors are amounts due of £319,242 (2022 - £7,500) from Infinity Apparel Ltd, a company under common control.

Within trade creditors are amounts due of £1,227,406 (2022 - £nil) to Infinity Apparel Ltd.

Within other debtors are amounts due of £917,551 from Infinity Apparel Ltd.

With amounts owed by group undertakings are amounts due of £797,643 from Infinity Incorporated Group Ltd, the parent company of Infinity Incorporated Ltd.

The director owes the company £126,461 (2022 - £73,791) at the year end. The loan is interest-free and repayable on demand.

10. 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 acquired the share capital in Infinity Incorporated Group Ltd from D Cohen.