Registered number
SC283709
Infinity (Scotland) Ltd
74 Kirk Road
Wishaw
Filleted Accounts
for the year ended 30 April 2024
Prepared by :
Yousaf & Co Ltd
Chartered Certified Accountants
298-300 Maxwell Road
Glasgow
G41 1PJ
Ref: I053/TG
Infinity (Scotland) Ltd
Registered number: SC283709
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 3,836 4,262
Current assets
Stocks 294,042 283,467
Cash at bank and in hand 11,753 33,515
305,795 316,982
Creditors: amounts falling due within one year 4 (323,235) (327,111)
Net current assets / (liabilities) (17,440) (10,129)
Total assets less current liabilities (13,604) (5,867)
Creditors: amounts falling due after more than one year 5 (176,491) (187,120)
Net assets / (liabilities) (190,095) (192,987)
Capital and reserves
Called up share capital 100 100
Profit and loss account (190,195) (193,087)
Shareholders' funds (190,095) (192,987)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mrs Hammera Aslam
Director
Approved by the board on 20 January 2025
Infinity (Scotland) Ltd
Notes to the Accounts
for the year ended 30 April 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment 10% Reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 3
3 Tangible fixed assets
Fixtures & Fittings
£
Cost
At 1 May 2023 24,904
At 30 April 2024 24,904
Depreciation
At 1 May 2023 20,642
Charge for the year 426
At 30 April 2024 21,068
Net book value
At 30 April 2024 3,836
At 30 April 2023 4,262
4 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 271,514 276,874
Taxation and social security costs 5,030 -
Other creditors 46,691 50,237
323,235 327,111
5 Creditors: amounts falling due after one year 2024 2023
£ £
Director's loan account 154,127 154,627
Bounce back loan 22,364 32,493
176,491 187,120
Infinity (Scotland) Ltd SC283709 false 2023-05-01 2024-04-30 2024-04-30 VT Final Accounts July 2024 Mrs Hammera Aslam No description of principal activity SC283709 2022-05-01 2023-04-30 SC283709 core:WithinOneYear 2023-04-30 SC283709 core:AfterOneYear 2023-04-30 SC283709 core:ShareCapital 2023-04-30 SC283709 core:RetainedEarningsAccumulatedLosses 2023-04-30 SC283709 2023-05-01 2024-04-30 SC283709 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 SC283709 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 SC283709 bus:Director40 2023-05-01 2024-04-30 SC283709 2 2023-05-01 2024-04-30 SC283709 core:PlantMachinery 2023-05-01 2024-04-30 SC283709 bus:FRS102 2023-05-01 2024-04-30 SC283709 bus:FilletedAccounts 2023-05-01 2024-04-30 SC283709 2024-04-30 SC283709 core:WithinOneYear 2024-04-30 SC283709 core:AfterOneYear 2024-04-30 SC283709 core:ShareCapital 2024-04-30 SC283709 core:RetainedEarningsAccumulatedLosses 2024-04-30 SC283709 core:PlantMachinery 2024-04-30 SC283709 2023-04-30 SC283709 core:PlantMachinery 2023-04-30 iso4217:GBP xbrli:pure