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REGISTERED NUMBER: 10160457 (England and Wales)






Infinity Systems (Yorkshire) Ltd

Financial Statements

for the Year Ended 31 May 2024






Infinity Systems (Yorkshire) Ltd (Registered number: 10160457)

Contents of the Financial Statements
for the year ended 31 May 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Infinity Systems (Yorkshire) Ltd

Company Information
for the year ended 31 May 2024







DIRECTOR: Mr L Swanson





REGISTERED OFFICE: 5 The Malt Kiln
Cliffe Common
Selby
North Yorkshire
YO8 6EF





REGISTERED NUMBER: 10160457 (England and Wales)





ACCOUNTANTS: SMH Jolliffe Cork Ltd
Chartered Accountants
33 George Street
Wakefield
West Yorkshire
WF1 1LX

Infinity Systems (Yorkshire) Ltd (Registered number: 10160457)

Balance Sheet
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,741 7,961

CURRENT ASSETS
Stocks 1,200 4,500
Debtors 5 26,603 20,492
Cash at bank 5,717 144
33,520 25,136
CREDITORS
Amounts falling due within one year 6 25,519 17,176
NET CURRENT ASSETS 8,001 7,960
TOTAL ASSETS LESS CURRENT
LIABILITIES

12,742

15,921

CREDITORS
Amounts falling due after more than one
year

7

(9,599

)

(11,601

)

PROVISIONS FOR LIABILITIES (902 ) (1,513 )
NET ASSETS 2,241 2,807

Infinity Systems (Yorkshire) Ltd (Registered number: 10160457)

Balance Sheet - continued
31 May 2024

2024 2023
Notes £    £    £    £   

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 2,141 2,707
SHAREHOLDERS' FUNDS 2,241 2,807

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 26 February 2025 and were signed by:





Mr L Swanson - Director


Infinity Systems (Yorkshire) Ltd (Registered number: 10160457)

Notes to the Financial Statements
for the year ended 31 May 2024


1. STATUTORY INFORMATION

Infinity Systems (Yorkshire) Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The functional and presentation currency for the company is the pound sterling (£). All financial information presented has been rounded to the nearest (£), unless otherwise stated.

2. 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on cost
Motor vehicles - 20% on cost
Computer equipment - 33% on cost

Tangible assets are initially recorded at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


Infinity Systems (Yorkshire) Ltd (Registered number: 10160457)

Notes to the Financial Statements - continued
for the year ended 31 May 2024


2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 June 2023 1,385 17,980 1,787 21,152
Additions - - 1,429 1,429
Disposals - - (332 ) (332 )
At 31 May 2024 1,385 17,980 2,884 22,249
DEPRECIATION
At 1 June 2023 1,020 10,788 1,383 13,191
Charge for year 186 3,596 754 4,536
Eliminated on disposal - - (219 ) (219 )
At 31 May 2024 1,206 14,384 1,918 17,508
NET BOOK VALUE
At 31 May 2024 179 3,596 966 4,741
At 31 May 2023 365 7,192 404 7,961

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 5,770 4,763
Directors' current accounts 18,166 14,053
Tax 2,108 1,676
Prepayments and accrued income 559 -
26,603 20,492

Infinity Systems (Yorkshire) Ltd (Registered number: 10160457)

Notes to the Financial Statements - continued
for the year ended 31 May 2024


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 8) 2,400 2,400
Trade creditors - 1,800
Tax 6,034 3,144
VAT 2,786 2,631
Other creditors 3,549 5,702
Accrued expenses 10,750 1,499
25,519 17,176

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans (see note 8) 9,599 11,601

8. LOANS

The bank loan is supported by the Bounce Back Loan Scheme. The loan is repayable over 120 monthly instalments starting from June 2021. Interest is charged on the loan at a rate of 2.5% p.a.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2024 and 31 May 2023:

2024 2023
£    £   
Mr L Swanson
Balance outstanding at start of year 14,053 12,311
Amounts advanced 38,517 29,113
Amounts repaid (34,404 ) (27,371 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 18,166 14,053