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Infinite IG Limited

Financial Statements for the Year Ended 30 April 2024






Infinite IG Limited

Company Information
for the Year Ended 30 April 2024







DIRECTOR: P Mainwaring





REGISTERED OFFICE: The Old Dovecote
Crescent Road
Llandeilo
SA19 6HN





REGISTERED NUMBER: 10742179 (England and Wales)





ACCOUNTANTS: BPU Limited
Chartered Accountants
Radnor House
Greenwood Close
Cardiff Gate Business Park
Cardiff
CF23 8AA

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Infinite IG Limited


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Infinite IG Limited for the year ended 30 April 2024 which comprise the Profit & Loss Account, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Infinite IG Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Infinite IG Limited and state those matters that we have agreed to state to the director of Infinite IG Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Infinite IG Limited and its director for our work or for this report.

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

We have not been instructed to carry out an audit or a review of the financial statements of Infinite IG 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 financial statements.






BPU Limited
Chartered Accountants


31 January 2025

Infinite IG Limited (Registered number: 10742179)

Balance Sheet
30 April 2024

2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible assets 3 - -
Tangible assets 4 7,279 10,125
7,279 10,125

CURRENT ASSETS
Debtors 5 68,502 94,254
Cash at bank 14,821 7,875
83,323 102,129
CREDITORS
Amounts falling due within one year 6 75,191 82,796
NET CURRENT ASSETS 8,132 19,333
TOTAL ASSETS LESS CURRENT
LIABILITIES

15,411

29,458

CREDITORS
Amounts falling due after more than
one year

7

(14,381

)

(27,934

)

PROVISIONS FOR LIABILITIES (1,000 ) (1,000 )
NET ASSETS 30 524

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (70 ) 424
SHAREHOLDERS' FUNDS 30 524

Infinite IG Limited (Registered number: 10742179)

Balance Sheet - continued
30 April 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit & Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 31 January 2025 and were signed by:





P Mainwaring - Director


Infinite IG Limited (Registered number: 10742179)

Notes to the Financial Statements
for the Year Ended 30 April 2024


1. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 20% straight line
Fixtures and fittings - Between 10% and 20% straight line
Computer equipment - 25% straight line

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Infinite IG Limited (Registered number: 10742179)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024


1. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives.

The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.

Rentals paid under operating leases are charged to income on a straight line basis over the lease term.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

3. INTANGIBLE FIXED ASSETS
Development
costs
£
COST
At 1 May 2023
and 30 April 2024 3,188
AMORTISATION
At 1 May 2023
and 30 April 2024 3,188
NET BOOK VALUE
At 30 April 2024 -
At 30 April 2023 -

Infinite IG Limited (Registered number: 10742179)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024


4. TANGIBLE FIXED ASSETS
Fixtures
Improvements and Computer
to property fittings equipment Totals
£ £ £ £
COST
At 1 May 2023 14,238 13,856 8,196 36,290
Additions - 872 958 1,830
At 30 April 2024 14,238 14,728 9,154 38,120
DEPRECIATION
At 1 May 2023 9,537 9,059 7,569 26,165
Charge for year 2,352 1,994 330 4,676
At 30 April 2024 11,889 11,053 7,899 30,841
NET BOOK VALUE
At 30 April 2024 2,349 3,675 1,255 7,279
At 30 April 2023 4,701 4,797 627 10,125

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 22,786 16,952
Amounts recoverable on contract 30,003 38,265
Other debtors & prepayments 15,713 39,037
68,502 94,254

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Bank loans and overdrafts 50,227 50,983
Taxes & social security costs 14,932 23,341
Other creditors & accruals 10,032 8,472
75,191 82,796

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£ £
Bank loans 14,381 27,934

Infinite IG Limited (Registered number: 10742179)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024


8. OTHER FINANCIAL COMMITMENTS

Financial commitments in respect of non-cancellable operating leases as at the balance sheet date was £39,733 (2023 - £1,917).

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 April 2024 and 30 April 2023:

2024 2023
£ £
P Mainwaring
Balance outstanding at start of year 24,709 6,459
Amounts advanced 46,816 61,077
Amounts repaid (55,812 ) (42,827 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 15,713 24,709