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Registered number: 08497288
Infinite AV Ltd
Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 08497288
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 80,755 55,132
80,755 55,132
CURRENT ASSETS
Stocks 5 30,150 95,000
Debtors 6 548,223 269,737
Cash at bank and in hand 31,086 10
609,459 364,747
Creditors: Amounts Falling Due Within One Year 7 (510,946 ) (287,860 )
NET CURRENT ASSETS (LIABILITIES) 98,513 76,887
TOTAL ASSETS LESS CURRENT LIABILITIES 179,268 132,019
Creditors: Amounts Falling Due After More Than One Year 8 (43,276 ) (32,500 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (13,712 ) (4,035 )
NET ASSETS 122,280 95,484
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 122,180 95,384
SHAREHOLDERS' FUNDS 122,280 95,484
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr B A Gammon
Director
24 December 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Infinite AV Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08497288 . The registered office is Unit 41/42 Block 7 Old Mill Lane Industrial Estate, Mansfield Woodhouse, Mansfield, NG19 9BG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 5% straight line
Plant & Machinery 25% reducing balance
Motor Vehicles 15% reducing balance
Fixtures & Fittings 15% reducing balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2023: 5)
5 5
4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £ £
Cost
As at 1 April 2023 24,756 46,253 38,500 14,890 124,399
Additions - - 37,019 18,334 55,353
Disposals - - (28,000 ) - (28,000 )
As at 31 March 2024 24,756 46,253 47,519 33,224 151,752
Depreciation
As at 1 April 2023 9,594 33,914 16,559 9,200 69,267
Provided during the period 1,238 3,085 6,557 3,603 14,483
Disposals - - (12,753 ) - (12,753 )
As at 31 March 2024 10,832 36,999 10,363 12,803 70,997
Net Book Value
As at 31 March 2024 13,924 9,254 37,156 20,421 80,755
As at 1 April 2023 15,162 12,339 21,941 5,690 55,132
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2024 2023
£ £
Motor Vehicles 31,466 -
5. Stocks
2024 2023
£ £
Stock 30,150 95,000
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6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 509,991 162,660
Other debtors 38,232 107,077
548,223 269,737
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 6,521 -
Trade creditors 90,680 64,893
Bank loans and overdrafts 15,000 33,414
Other creditors 313,625 122,844
Taxation and social security 85,120 66,709
510,946 287,860
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 25,776 -
Bank loans 17,500 32,500
43,276 32,500
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 6,521 -
Later than one year and not later than five years 25,776 -
32,297 -
32,297 -
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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