INFOTECH GROUP LTD

Company Registration Number:
11965652 (England and Wales)

Unaudited statutory accounts for the year ended 30 April 2024

Period of accounts

Start date: 1 May 2023

End date: 30 April 2024

INFOTECH GROUP LTD

Contents of the Financial Statements

for the Period Ended 30 April 2024

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes

INFOTECH GROUP LTD

Directors' report period ended 30 April 2024

The directors present their report with the financial statements of the company for the period ended 30 April 2024

Principal activities of the company

During the reporting period, the Company has continued to engage in computer programming, software publishing, video production (software), consultancy, and related activities. Additionally, the Company operates within the broader financial services sector, supporting various IT-related investment initiatives.

Additional information

For the financial year ended 30 April 2024, the Company reported a turnover of £4,589,689, with a gross profit of £419,338 and a net profit after taxation of £45,138. The Company has maintained stable financial performance. During the period, the Company continued to invest in various IT projects, with a notable increase in advertising expenditure, which aligns with its business expansion strategy. The Company has also expanded its involvement in joint venture investment IT projects, demonstrating a commitment to diversifying and strengthening its portfolio in the dynamic IT sector. The year under review saw markets changing their pace of development and direction rapidly and unpredictably. Despite these challenges, the Company successfully built upon developments from previous years, leveraging its existing strategies and innovations to attract a strong client base. This adaptability has reinforced the Company's resilience and positioned it for continued growth. Alongside its investment ventures, the Company has been actively involved in agency-based project facilitation, assisting in the transfer of specialized services between parties. This has helped the Company establish a more dynamic role in the IT services value chain. As part of its long-term strategy, the Company remains focused on international IT projects and co-financing venture initiatives. A particular emphasis has been placed on attracting investment capital and fostering partnerships in innovative technology fields, including blockchain solutions and financial technology services. The Director is confident that with prudent financial management and strategic investments, the Company will continue to expand its market presence and drive sustainable growth.



Directors

The director shown below has held office during the whole of the period from
1 May 2023 to 30 April 2024

Konstantins Margolis


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
7 March 2025

And signed on behalf of the board by:
Name: Konstantins Margolis
Status: Director

INFOTECH GROUP LTD

Profit And Loss Account

for the Period Ended 30 April 2024

2024 2023


£

£
Turnover: 4,589,689 4,675,417
Cost of sales: ( 4,170,351 ) ( 4,030,288 )
Gross profit(or loss): 419,338 645,129
Distribution costs: ( 317,043 ) ( 419,809 )
Administrative expenses: ( 66,305 ) ( 201,250 )
Other operating income: 20,320 23,282
Operating profit(or loss): 56,310 47,352
Profit(or loss) before tax: 56,310 47,352
Tax: ( 11,172 ) ( 8,997 )
Profit(or loss) for the financial year: 45,138 38,355

INFOTECH GROUP LTD

Balance sheet

As at 30 April 2024

Notes 2024 2023


£

£
Current assets
Debtors: 3 33,010 115,932
Cash at bank and in hand: 423,083 419,530
Total current assets: 456,093 535,462
Creditors: amounts falling due within one year: 4 ( 374,064 ) ( 428,571 )
Net current assets (liabilities): 82,029 106,891
Total assets less current liabilities: 82,029 106,891
Total net assets (liabilities): 82,029 106,891
Capital and reserves
Called up share capital: 1,000 1,000
Profit and loss account: 81,029 105,891
Total Shareholders' funds: 82,029 106,891

The notes form part of these financial statements

INFOTECH GROUP LTD

Balance sheet statements

For the year ending 30 April 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 7 March 2025
and signed on behalf of the board by:

Name: Konstantins Margolis
Status: Director

The notes form part of these financial statements

INFOTECH GROUP LTD

Notes to the Financial Statements

for the Period Ended 30 April 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Other accounting policies

    Foreign currencies. The assets and liabilities in foreign currencies are translated to Sterling at foreign exchange rates ruling at the balance sheet date. The revenues and expenses of operations in foreign currencies are translated to Sterling at average rates of exchange for the period. All exchange gains or losses are dealt with through the profit and loss account.

INFOTECH GROUP LTD

Notes to the Financial Statements

for the Period Ended 30 April 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 16 17

    Company outsources most of its functions (including administrative functions) to independent contractors, including the representatives of the Company.

INFOTECH GROUP LTD

Notes to the Financial Statements

for the Period Ended 30 April 2024

3. Debtors

2024 2023
£ £
Trade debtors 1,009 24,569
Other debtors 32,001 91,363
Total 33,010 115,932

INFOTECH GROUP LTD

Notes to the Financial Statements

for the Period Ended 30 April 2024

4. Creditors: amounts falling due within one year note

2024 2023
£ £
Trade creditors 59,834 157,612
Taxation and social security 11,172 8,997
Accruals and deferred income 29,834 109,057
Other creditors 273,224 152,905
Total 374,064 428,571