Company registration number 08408423 (England and Wales)
Infinium Consulting Limited
Unaudited
financial statements
for the year ended 31 December 2023
PAGES FOR FILING WITH REGISTRAR
Infinium Consulting Limited
Contents
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 5
Infinium Consulting Limited
Statement of Financial Position
as at 31 December 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
4,245
5,660
Current assets
Debtors
4
1,457,343
1,125,169
Cash at bank and in hand
1,108
1,457,343
1,126,277
Creditors: amounts falling due within one year
5
(1,190,401)
(903,290)
Net current assets
266,942
222,987
Total assets less current liabilities
271,187
228,647
Creditors: amounts falling due after more than one year
6
(19,786)
(29,786)
Net assets
251,401
198,861
Capital and reserves
Called up share capital
7
125
125
Share premium account
4,975
4,975
Profit and loss reserves
246,301
193,761
Total equity
251,401
198,861
Infinium Consulting Limited
Statement of Financial Position (continued)
as at 31 December 2023
31 December 2023
- 2 -
The director of the company has 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 director acknowledges his 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.
The financial statements were approved and signed by the director and authorised for issue on 17 September 2024
J Lee
Director
Company Registration No. 08408423
Infinium Consulting 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 supply of services to the customer.
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost less depreciation.
Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:
Plant and machinery
25% reducing balance
Motor vehicles
25% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to 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.
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
Infinium Consulting Limited
Notes to the Financial Statements (continued)
for the year ended 31 December 2023
- 4 -
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
3
Tangible fixed assets
Plant and machinery
Motor vehicles
Total
£
£
£
Cost
At 1 January 2023 and 31 December 2023
10,603
4,583
15,186
Depreciation and impairment
At 1 January 2023
6,151
3,375
9,526
Depreciation charged in the year
1,113
302
1,415
At 31 December 2023
7,264
3,677
10,941
Carrying amount
At 31 December 2023
3,339
906
4,245
At 31 December 2022
4,452
1,208
5,660
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
1,457,343
1,125,169
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
23,135
13,581
Trade creditors
329,920
196,915
Corporation tax
47,669
47,961
Other taxation and social security
4,034
7,973
Directors' current account
376,655
117,380
Accruals and deferred income
408,988
519,480
1,190,401
903,290
Infinium Consulting Limited
Notes to the Financial Statements (continued)
for the year ended 31 December 2023
- 5 -
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans
19,786
29,786
7
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A shares of £1 each
100
100
100
100
Ordinary C shares of £1 each
25
25
25
25
125
125
125
125
8
Parent company
The company's parent company is Infinium Holdings Limited and its registered office is West House, King Cross Road, Halifax, West Yorkshire, United Kingdom, HX1 1EB.
9
Company information
Infinium Consulting 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.