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REGISTERED NUMBER: 03316781 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 MAY 2023 TO 31 MAY 2024

FOR

INFOTEAM INTERNATIONAL SERVICES LIMITED

INFOTEAM INTERNATIONAL SERVICES LIMITED (REGISTERED NUMBER: 03316781)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 MAY 2023 TO 31 MAY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


INFOTEAM INTERNATIONAL SERVICES LIMITED

COMPANY INFORMATION
FOR THE PERIOD 1 MAY 2023 TO 31 MAY 2024







DIRECTOR: Glen James Coffey





REGISTERED OFFICE: Chessington Business Centre
Cox Lane
Chessington
KT9 1SD





REGISTERED NUMBER: 03316781 (England and Wales)





ACCOUNTANTS: Defries Weiss (Accountants) Limited
1 Bridge Lane
London
NW11 0EA

INFOTEAM INTERNATIONAL SERVICES LIMITED (REGISTERED NUMBER: 03316781)

BALANCE SHEET
31 MAY 2024

31.5.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 603,613 -
Tangible assets 5 33,053 72,693
Investments 6 - 50,000
636,666 122,693

CURRENT ASSETS
Stocks 156,432 162,295
Debtors 7 865,898 2,029,351
Cash at bank 1,230,190 1,107,927
2,252,520 3,299,573
CREDITORS
Amounts falling due within one year 8 755,239 747,087
NET CURRENT ASSETS 1,497,281 2,552,486
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,133,947

2,675,179

CREDITORS
Amounts falling due after more than one year 9 1,880,915 22,290
NET ASSETS 253,032 2,652,889

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 252,032 2,651,889
SHAREHOLDERS' FUNDS 253,032 2,652,889

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

The members have not required the company to obtain an audit of its financial statements for the period 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.

INFOTEAM INTERNATIONAL SERVICES LIMITED (REGISTERED NUMBER: 03316781)

BALANCE SHEET - continued
31 MAY 2024


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 27 February 2025 and were signed by:





Glen James Coffey - Director


INFOTEAM INTERNATIONAL SERVICES LIMITED (REGISTERED NUMBER: 03316781)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 MAY 2023 TO 31 MAY 2024

1. STATUTORY INFORMATION

Infoteam International Services Limited 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.


2. ACCOUNTING POLICIES

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

Turnover
Turnover represents net invoiced sales of goods and services and sales of development property, excluding value added tax.

Intangible assets
Amortisation is provided on a straight line basis over three years in order to write off computer software over its estimated useful life.

Tangible fixed assets
Depreciation is provided on a straight line basis over the following periods in order to write off each asset over its estimated useful life:

Improvements to property8 years
Plant and machinery5 years
Fixtures and fittings3 years
Motor vehicles4 years
Computer equipment3 years

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
Basic financial assets and liabilities, including trade debtors and creditors, other debtors and creditors and amounts with related parties are initially recognised at transaction price and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets and liabilities classified as receivable or payable within one year are not amortised.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the statement of comprehensive income, 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.


INFOTEAM INTERNATIONAL SERVICES LIMITED (REGISTERED NUMBER: 03316781)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 MAY 2023 TO 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 period 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange prevailing at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange prevailing at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Operating leases
Rentals paid under operating leases are charged to the profit and loss account as incurred.

Pensions
Pension contributions are charged to the profit and loss account as and when incurred.

Investments
The investment in a joint venture is valued at cost less impairment.

Government grants
Income from grants has been recognised upon receipt as there were no performance conditions.


3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 32 (2023 - 32 ) .

INFOTEAM INTERNATIONAL SERVICES LIMITED (REGISTERED NUMBER: 03316781)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 MAY 2023 TO 31 MAY 2024

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 May 2023 548,775
Additions 905,420
Disposals (548,775 )
At 31 May 2024 905,420
AMORTISATION
At 1 May 2023 548,775
Charge for period 301,807
Eliminated on disposal (548,775 )
At 31 May 2024 301,807
NET BOOK VALUE
At 31 May 2024 603,613
At 30 April 2023 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 May 2023 169,526
Additions 7,705
At 31 May 2024 177,231
DEPRECIATION
At 1 May 2023 96,833
Charge for period 47,345
At 31 May 2024 144,178
NET BOOK VALUE
At 31 May 2024 33,053
At 30 April 2023 72,693

INFOTEAM INTERNATIONAL SERVICES LIMITED (REGISTERED NUMBER: 03316781)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 MAY 2023 TO 31 MAY 2024

6. FIXED ASSET INVESTMENTS

31.5.24 30.4.23
£ £
Joint venture - 50,000
- 50,000

On 25 August 2017, the company entered into a joint venture agreement for a residential property redevelopment. The company will take 16.84% of any profit or loss, after deducting the initial investment made by the company and the other party to the joint venture. During the year, the company disposed of its investment, as the director determined that the investment was no longer recoverable.


7. DEBTORS
31.5.24 30.4.23
£    £   
Amounts falling due within one year:
Trade debtors 382,015 339,341
Amounts owed by related parties - 271,484
Other debtors 483,883 575,827
865,898 1,186,652

Amounts falling due after more than one year:
Amounts due from holding company - 842,699

Aggregate amounts 865,898 2,029,351

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 30.4.23
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 216,354 560,393
Taxation and social security 345,485 55,334
Other creditors 183,400 121,360
755,239 747,087

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.24 30.4.23
£    £   
Bank loans 11,667 22,290
Amounts owed to holding company 1,869,248 -
1,880,915 22,290

INFOTEAM INTERNATIONAL SERVICES LIMITED (REGISTERED NUMBER: 03316781)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 MAY 2023 TO 31 MAY 2024

10. OTHER FINANCIAL COMMITMENTS

At the balance sheet date the company was committed to future lease payments of £302,834 for rental of premises under a lease which expires on 31 May 2027. These commitments included £104,000 to be paid in the year ended 31 May 2025.


11. RELATED PARTY DISCLOSURES

During the period the company lent £nil (2023: £250,000) to Goldrose Management Ltd. As at the balance sheet date, the company was owed £nil (2023: £250,000) by Goldrose Management Ltd.

During the period the company also lent £nil (2023: £21,484) to Rivermead Property Limited. As at the balance sheet date, the company was owed £nil (2023: £21,484) by Rivermead Property Limited.

As at the balance sheet date the company owed £1,869,248 (2023: was owed £842,699) to the holding company Infoteam Group Limited.

As at the balance sheet date the company was owed £nil (2023: £1,641) by the director.


12. ULTIMATE HOLDING COMPANY

The ultimate holding company is Infoteam Group Limited for which the registered office is Chessington Business Centre, Cox Lane, Chessington, England, KT9 1SD.


13. CHANGE OF ACCOUNTING REFERENCE DATE

The company's last accounting reference date was 30 April 2023. The accounting reference date has been changed to 31 May 2024 as the director believes the extension would adequately reflect the company's overall performance during the period. Accordingly, the current financial statements are prepared for 13 months from 1 May 2023 to 31 May 2024 and as a result, the comparative figures stated are not comparable.