Info Stor Limited
Unaudited Financial Statements
For the year ended 31 May 2024
Pages for Filing with Registrar
Company Registration No. 06621886 (England and Wales)
Info Stor Limited
Contents
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
Info Stor Limited
Balance Sheet
As at 31 May 2024
Page 1
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
377
1,124
Tangible assets
4
1,782
2,376
2,159
3,500
Current assets
Debtors
5
561,576
89,515
Cash at bank and in hand
1,162,485
1,731,207
1,724,061
1,820,722
Creditors: amounts falling due within one year
6
(264,033)
(425,622)
Net current assets
1,460,028
1,395,100
Net assets
1,462,187
1,398,600
Capital and reserves
Called up share capital
7
1
1
Profit and loss reserves
1,462,186
1,398,599
Total equity
1,462,187
1,398,600
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 May 2024 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 member has 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.
Info Stor Limited
Balance Sheet (Continued)
As at 31 May 2024
Page 2
The financial statements were approved and signed by the director and authorised for issue on 30 November 2024
A Jenkins
Director
Company Registration No. 06621886
Info Stor Limited
Notes to the Financial Statements
For the year ended 31 May 2024
Page 3
1
Accounting policies
Company information
Info Stor Limited is a private company limited by shares incorporated in England and Wales. The registered office is 6th Floor, 9 Appold Street, London, EC2A 2AP.
1.1
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 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.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.
1.3
Intangible fixed assets other than goodwill
Intangible are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Development Costs
25% straight line
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures, fittings & equipment
25% on 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.
1.5
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
Info Stor Limited
Notes to the Financial Statements (Continued)
For the year ended 31 May 2024
1
Accounting policies
(Continued)
Page 4
1.6
Cash and cash equivalents
Cash includes cash in hand and at bank.
1.7
Financial instruments
Basic financial instruments are measured at amortised cost. The company has no other financial instruments or basic financial instruments measured at fair value.
1.8
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.9
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 profit and loss account 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.
Deferred tax
Deferred tax liabilities are recognised for all material timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
1.10
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
1.11
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.12
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
1.13
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.
Info Stor Limited
Notes to the Financial Statements (Continued)
For the year ended 31 May 2024
Page 5
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
1
1
3
Intangible fixed assets
Other
£
Cost
At 1 June 2023
20,972
Additions
231
At 31 May 2024
21,203
Amortisation and impairment
At 1 June 2023
19,848
Amortisation charged for the year
978
At 31 May 2024
20,826
Carrying amount
At 31 May 2024
377
At 31 May 2023
1,124
Info Stor Limited
Notes to the Financial Statements (Continued)
For the year ended 31 May 2024
Page 6
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 June 2023 and 31 May 2024
13,731
Depreciation and impairment
At 1 June 2023
11,355
Depreciation charged in the year
594
At 31 May 2024
11,949
Carrying amount
At 31 May 2024
1,782
At 31 May 2023
2,376
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
80,939
37,784
Other debtors
480,637
51,731
561,576
89,515
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
824
Trade creditors
222,628
371,785
Corporation tax
32,479
35,973
Other taxation and social security
6,426
14,540
Accruals and deferred income
2,500
2,500
264,033
425,622
Info Stor Limited
Notes to the Financial Statements (Continued)
For the year ended 31 May 2024
Page 7
7
Called up share capital
2024
2023
£
£
Ordinary share capital
Issued and fully paid
1 Ordinary Share of £1 each
1
1
8
Related party transactions
During the year, dividends of £33,500 (2023: £29,111) were paid to the sole director A Jenkins.
At the year end, the company was owed £480,056 (2023: £51,150) from related parties.
9
Ultimate controlling party
The ultimate controlling party is A Jenkins by virtue of his ownership of the entire issued share capital.