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COMPANY REGISTRATION NUMBER: 03134616
Infinity Software Holdings Limited
Filleted Financial Statements
31 December 2023
Infinity Software Holdings Limited
Financial Statements
Year ended 31 December 2023
Contents
Page
Officers and professional advisers
1
Statement of financial position
2
Notes to the financial statements
3
Infinity Software Holdings Limited
Officers and Professional Advisers
The board of directors
R J Jonsson
R Castano
Registered office
Three Brindleyplace
Brindley Place
Birmingham
B1 2JB
Auditor
Riverside Accountancy Lancaster Limited
Chartered accountants & statutory auditor
Second Floor, Riverside Offices
26 St George's Quay
Lancaster
LA1 1RD
Infinity Software Holdings Limited
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
Fixed assets
Investments
5
63,471
63,471
Current assets
Debtors
6
139,320
87,856
Cash at bank and in hand
8,446
41,508
---------
---------
147,766
129,364
Creditors: amounts falling due within one year
7
4,615
34,731
---------
---------
Net current assets
143,151
94,633
---------
---------
Total assets less current liabilities
206,622
158,104
---------
---------
Net assets
206,622
158,104
---------
---------
Capital and reserves
Called up share capital
8
1,228
1,024
Share premium account
191,740
140,662
Capital redemption reserve
516
516
Profit and loss account
13,138
15,902
---------
---------
Shareholders funds
206,622
158,104
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
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.
These financial statements were approved by the board of directors and authorised for issue on 18 October 2024 , and are signed on behalf of the board by:
R J Jonsson
Director
Company registration number: 03134616
Infinity Software Holdings Limited
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Three Brindleyplace, Brindley Place, Birmingham, B1 2JB.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).
5. Investments
Shares in group undertakings
£
Cost
At 1 January 2023 and 31 December 2023
63,471
--------
Impairment
At 1 January 2023 and 31 December 2023
--------
Carrying amount
At 31 December 2023
63,471
--------
At 31 December 2022
63,471
--------
6. Debtors
2023
2022
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
139,058
87,776
Other debtors
262
80
---------
--------
139,320
87,856
---------
--------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
115
32,117
Social security and other taxes
414
Other creditors
4,500
2,200
-------
--------
4,615
34,731
-------
--------
8. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 0.01 each
82,800
828
62,473
625
A Ordinary shares of £ 0.01 each
39,950
400
39,950
400
---------
-------
---------
-------
122,750
1,228
102,423
1,024
---------
-------
---------
-------
9. Summary audit opinion
The auditor's report dated 21 October 2024 was unqualified .
The senior statutory auditor was Lyndsay Nicholson ACA , for and on behalf of Riverside Accountancy Lancaster Limited .
10. Related party transactions
Included in debtors is an amount owed by a connected party of £139,058 (2022 £87,776).
11. Controlling party
From 1st November 2023, the parent company is Dura Software UK Limited . The ultimate parent company is Dura Software Inc , a company registered in the United States. The controlling party are the directors, through their influence on the company. The company has been included within Consolidated accounts of Dura Software Inc, registered at 425 Soledad St Suite 400, San Antonio, TX 78205, United States.