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Registration number: 13974030

Infinite Ink22 Limited

Annual Report and Unaudited Financial Statements

for the Period from 14 March 2022 to 31 March 2023

 

Infinite Ink22 Limited

Contents

Company Information

1

Director's Report

2

Accountants' Report

3

Profit and Loss Account

4

Statement of Comprehensive Income

5

Balance Sheet

6

Statement of Changes in Equity

7

Notes to the Unaudited Financial Statements

8 to 10

 

Infinite Ink22 Limited

Company Information

Director

Mr S McAdam

Registered office

5 Queens Parade
The Hydneye
Eastbourne
East Sussex
BN22 9BU

Accountants

Gold Accountants Limited
24 Southfield
Polegate
East Sussex
BN26 5LX

 

Infinite Ink22 Limited

Director's Report for the Period from 14 March 2022 to 31 March 2023

The director presents his report and the financial statements for the period from 14 March 2022 to 31 March 2023.

Incorporation

The company was incorporated on 14 March 2022 and commenced trading on 1 April 2022

Director of the company

The director who held office during the period was as follows:

Mr S McAdam (appointed 14 March 2022)

Principal activity

The principal activity of the company is tattoo studio

Small companies provision statement

This report has 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.

Approved and authorised by the director on 22 November 2024
 

.........................................
Mr S McAdam
Director

 

Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Infinite Ink22 Limited
for the Period Ended 31 March 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Infinite Ink22 Limited for the period ended 31 March 2023 as set out on pages 4 to 10 from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Infinite Ink22 Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Infinite Ink22 Limited and state those matters that we have agreed to state to the Board of Directors of Infinite Ink22 Limited, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Infinite Ink22 Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Infinite Ink22 Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Infinite Ink22 Limited. You consider that Infinite Ink22 Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the accounts of Infinite Ink22 Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Gold Accountants Limited
24 Southfield
Polegate
East Sussex
BN26 5LX

22 November 2024

 

Infinite Ink22 Limited

Profit and Loss Account for the Period from 14 March 2022 to 31 March 2023

Note

2023
£

Turnover

 

17,013

Gross profit

 

17,013

Administrative expenses

 

(17,485)

Operating loss

 

(472)

Loss before tax

(472)

Loss for the financial period

 

(472)

The above results were derived from continuing operations.

The company has no recognised gains or losses for the period other than the results above.

 

Infinite Ink22 Limited

Statement of Comprehensive Income for the Period from 14 March 2022 to 31 March 2023

2023
£

Loss for the period

(472)

Total comprehensive income for the period

(472)

 

Infinite Ink22 Limited

(Registration number: 13974030)
Balance Sheet as at 31 March 2023

Note

2023
£

Current assets

 

Debtors

4

2,470

Cash at bank and in hand

 

4

 

2,474

Creditors: Amounts falling due within one year

5

(2,944)

Net liabilities

 

(470)

Capital and reserves

 

Called up share capital

6

2

Retained earnings

(472)

Shareholders' deficit

 

(470)

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

Director's responsibilities:

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

The director acknowledges his 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.

Approved and authorised by the director on 22 November 2024
 

.........................................
Mr S McAdam
Director

 

Infinite Ink22 Limited

Statement of Changes in Equity for the Period from 14 March 2022 to 31 March 2023

Share capital
£

Retained earnings
£

Total
£

Loss for the period

-

(472)

(472)

New share capital subscribed

2

-

2

At 31 March 2023

2

(472)

(470)

 

Infinite Ink22 Limited

Notes to the Unaudited Financial Statements for the Period from 14 March 2022 to 31 March 2023

1

General information

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

The address of its registered office is:
5 Queens Parade
The Hydneye
Eastbourne
East Sussex
BN22 9BU

These financial statements were authorised for issue by the director on 22 November 2024.

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 that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

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.

 

Infinite Ink22 Limited

Notes to the Unaudited Financial Statements for the Period from 14 March 2022 to 31 March 2023

Trade debtors

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

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. 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 receivables.

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 subsequently measured at amortised cost using the effective interest method.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 2.

4

Debtors

Current

2023
£

Other debtors

2,470

 

2,470

 

Infinite Ink22 Limited

Notes to the Unaudited Financial Statements for the Period from 14 March 2022 to 31 March 2023

5

Creditors

Creditors: amounts falling due within one year

2023
£

Due within one year

Taxation and social security

824

Accruals and deferred income

1,440

Other creditors

680

2,944

6

Share capital

Allotted, called up and fully paid shares

2023

No.

£

Ordinary of £1 each

2

2