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Registered Number: 13459594
England and Wales

 

 

 


Unaudited Financial Statements

for the year ended 30 June 2024

for

INFINITE ELECTRICS LTD

 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 45,077    34,295 
45,077    34,295 
Current assets      
Stocks 4 1,350    1,350 
Debtors 5 59,816    52,701 
Cash at bank and in hand 55,839    28,415 
117,005    82,466 
Creditors: amount falling due within one year 6 (145,785)   (93,577)
Net current assets (28,780)   (11,111)
 
Total assets less current liabilities 16,297    23,184 
Creditors: amount falling due after more than one year 7   (4,064)
Provisions for liabilities 8 (11,269)   (8,574)
Net assets 5,028    10,546 
 

Capital and reserves
     
Called up share capital 9 100    100 
Profit and loss account 4,928    10,446 
Shareholders' funds 5,028    10,546 
 


For the year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 06 March 2025 and were signed on its behalf by:


-------------------------------
James Wilson
Director
1
General Information
Infinite Electrics Ltd is a private company, limited by shares, registered in England and Wales, registration number 13459594, registration address 13 The close, Norwich, England, NR14 DS.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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 comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 25% Straight Line
Motor Vehicles 25% Reducing Balance
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 5 (2023 : 3).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Computer Equipment   Total
  £   £   £   £
At 01 July 2023 3,931    35,647    7,367    46,945 
Additions 1,880    19,159    3,690    24,729 
Disposals      
At 30 June 2024 5,811    54,806    11,057    71,674 
Depreciation
At 01 July 2023 1,239    9,284    2,127    12,650 
Charge for year 1,249    9,664    3,034    13,947 
On disposals      
At 30 June 2024 2,488    18,948    5,161    26,597 
Net book values
Closing balance as at 30 June 2024 3,323    35,858    5,896    45,077 
Opening balance as at 01 July 2023 2,692    26,363    5,240    34,295 


4.

Stocks

2024
£
  2023
£
Stocks 1,350    1,350 
1,350    1,350 

5.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 29,732    32,162 
Other Debtors 30,084    20,539 
59,816    52,701 

6.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 12,413    3,448 
Corporation Tax 20,469    13,688 
PAYE & Social Security   2,193 
Other Creditors 670   
Obligations under HP/Financial Leases 2,033    3,899 
Wages & Salaries Control Account 641   
Directors' Current Accounts 105,234    66,346 
VAT 4,325    4,003 
145,785    93,577 

7.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Obligations Under HP/Financial Leases   4,064 
  4,064 

8.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax 8,574    8,574 
Charged to Profit & Loss 2,695   
11,269    8,574 

9.

Share Capital

Authorised
100 Class A shares of £1.00 each
Allotted, called up and fully paid
2024
£
  2023
£
100 Class A shares of £1.00 each 100    100 
100    100 

2