Infinitum Group Ltd 08070047 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is that of media consultants Digita Accounts Production Advanced 6.30.9574.0 true false true true 08070047 2023-01-01 2023-12-31 08070047 2023-12-31 08070047 core:AcceleratedTaxDepreciationDeferredTax 2023-12-31 08070047 core:ProvisionsDeferredTax 2023-12-31 08070047 core:FinancialAssetsCostLessImpairment core:CurrentFinancialInstruments 2023-12-31 08070047 core:CurrentFinancialInstruments 2023-12-31 08070047 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 08070047 core:FurnitureFittingsToolsEquipment 2023-12-31 08070047 bus:SmallEntities 2023-01-01 2023-12-31 08070047 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 08070047 bus:FullAccounts 2023-01-01 2023-12-31 08070047 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 08070047 bus:RegisteredOffice 2023-01-01 2023-12-31 08070047 bus:Director3 2023-01-01 2023-12-31 08070047 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 08070047 core:FurnitureFittingsToolsEquipment 2023-01-01 2023-12-31 08070047 core:OfficeEquipment 2023-01-01 2023-12-31 08070047 core:Subsidiary1 2023-01-01 2023-12-31 08070047 core:Subsidiary1 countries:AllCountries 2023-01-01 2023-12-31 08070047 core:Subsidiary2 2023-01-01 2023-12-31 08070047 core:Subsidiary2 countries:AllCountries 2023-01-01 2023-12-31 08070047 countries:EnglandWales 2023-01-01 2023-12-31 08070047 core:FurnitureFittingsToolsEquipment 2022-12-31 08070047 2022-01-01 2022-12-31 08070047 2022-12-31 08070047 core:AcceleratedTaxDepreciationDeferredTax 2022-12-31 08070047 core:ProvisionsDeferredTax 2022-12-31 08070047 core:FinancialAssetsCostLessImpairment core:CurrentFinancialInstruments 2022-12-31 08070047 core:CurrentFinancialInstruments 2022-12-31 08070047 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 08070047 core:FurnitureFittingsToolsEquipment 2022-12-31 08070047 core:Subsidiary1 2022-01-01 2022-12-31 08070047 core:Subsidiary2 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure

Registration number: 08070047

Prepared for the registrar

Infinitum Group Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2023

 

Infinitum Group Ltd

(Registration number: 08070047)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

13,945

17,752

Investments

6

105

105

 

14,050

17,857

Current assets

 

Debtors

8

11,492,655

8,448,881

Other financial assets

7

9,564,965

10,000,000

Cash at bank and in hand

 

16,196,093

18,560,523

 

37,253,713

37,009,404

Creditors: Amounts falling due within one year

9

(32,196,498)

(32,631,201)

Net current assets

 

5,057,215

4,378,203

Total assets less current liabilities

 

5,071,265

4,396,060

Deferred tax liabilities

 

(3,036)

(3,723)

Net assets

 

5,068,229

4,392,337

Capital and reserves

 

Called up share capital

116

116

Capital redemption reserve

1

1

Profit and loss account

5,068,112

4,392,220

Shareholders' funds

 

5,068,229

4,392,337

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 10 September 2024 and signed on its behalf by:
 

N C Bampton
Director

   
     
 

Infinitum Group Ltd

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

 

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
C/o C H Hausmann & Co
5 De Walden Court
85 New Cavendish Street
London
W1W 6XD

 

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items that are shown at fair value.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Group accounts not prepared

The company is part of a small group. The company has taken advantage of the exemption provided by Section 398 of the Companies Act 2006 and has not prepared group accounts.

Judgements

No significant judgements have been made by management in preparing these financial statements.

Revenue recognition

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of services to customers.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in the profit and loss account, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

 

Infinitum Group Ltd

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

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment/fixtures and fittings

25% reducing value/33.3% straight line

Investments

Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. All trade debtors are repayable within one year and hence are included at the undiscounted cost of cash expected to be received. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the debtors.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and all are repayable within one year and hence are included at the undiscounted amount of cash expected to be paid.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Infinitum Group Ltd

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

Financial instruments


Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.

 Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Impairment
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss.

 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 12 (2022 - 11).

 

4

Deferred tax

Deferred tax assets and liabilities

2023

Asset
£

Liability
£

Differences between accumulated depreciation and capital allowances

-

3,262

Short term timing differences

226

-

226

3,262

2022

Asset
£

Liability
£

Differences between accumulated depreciation and capital allowances

-

4,165

Short term timing differences

442

-

442

4,165

 

Infinitum Group Ltd

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

 

5

Tangible assets

Furniture, fittings and equipment
 £

Cost

At 1 January 2023

46,164

Additions

7,928

Disposals

(23,197)

At 31 December 2023

30,895

Depreciation

At 1 January 2023

28,412

Charge for the year

11,735

Eliminated on disposal

(23,197)

At 31 December 2023

16,950

Carrying amount

At 31 December 2023

13,945

At 31 December 2022

17,752

 

6

Investments

2023
£

2022
£

Investments in subsidiaries

105

105

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2023

2022

Subsidiary undertakings

Arbutus Production Finance Limited

Ordinary £1

100%

100%

 

England and Wales

     

Infinitum Limited

Ordinary £1

100%

100%

 

England and Wales

     

The aggregate amount of capital and reserves of Arbutus Production Finance Limited at the end of the period was £100.

The aggregate amount of capital and reserves of Infinitum Limited at the end of the period was £1.

 

Infinitum Group Ltd

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

 

7

Current asset investments

2023
 £

2022
 £

Other investments

9,564,965

10,000,000

Current asset investments represents an investment fund held at market rate. The cost of the investment was £10,000,000. At the balance sheet date the fund was revalued to £9,564,965 (2022: £10,000,000) with a profit of £67,723 (2022: £Nil) being recognised as a fair value movement to the profit and loss in accordance with the provision of FRS102.

 

8

Debtors

Note

2023
 £

2022
 £

Trade debtors

 

6,611,399

4,377,669

Amounts owed by related parties

11

13

1,605

Other debtors

 

4,876,690

4,065,054

Prepayments

 

4,553

4,553

 

11,492,655

8,448,881

 

9

Creditors

2023
 £

2022
 £

Due within one year

Trade creditors

15,921,170

21,402,783

Social security and other taxes

442,044

91,004

Outstanding defined contribution pension costs

1,811

3,531

Other creditors

1,245,257

1,838,813

Accrued expenses

13,539,200

8,362,464

Corporation tax liability

1,047,016

932,606

32,196,498

32,631,201

 

10

Financial commitments

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £73,157 (2022 - £122,107).

 

11

Related party transactions

Transactions with directors

At 31 December 2022 the director N C Bampton owed the company £1,605 in the form of a director's loan. The loan was repaid in full in the year to 31 December 2023 and no interest was charged.

Transactions with related parties


At 31 December 2023 the company was owed £13 (2022: £Nil) by Coetus Limited, the company's parent. The loan is repayable on demand, has no repayment terms and no interest is payable.

 

Infinitum Group Ltd

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

 

12

Control

The company's parent is Coetus Limited incorporated in the United Kingdom.