Company Registration No. 11909640 (England and Wales)
INFINITY FX GROUP LIMITED
Unaudited accounts
for the year ended 31 March 2024
INFINITY FX GROUP LIMITED
Unaudited accounts
Contents
INFINITY FX GROUP LIMITED
Company Information
for the year ended 31 March 2024
Company Number
11909640 (England and Wales)
Registered Office
Apartment 3
123-129 Lark Lane
Liverpool
L17 8UR
England
Accountants
Scott Accountancy Services
119 Lanchester Avenue
Gateshead
Tyne & Wear
NE9 7AN
INFINITY FX GROUP LIMITED
Statement of financial position
as at 31 March 2024
Cash at bank and in hand
2,792
18,027
Creditors: amounts falling due within one year
(5,546)
(6,839)
Net current (liabilities)/assets
(2,754)
11,188
Total assets less current liabilities
(2,208)
12,227
Creditors: amounts falling due after more than one year
(19,533)
(19,400)
Net liabilities
(21,741)
(7,173)
Called up share capital
1
1
Profit and loss account
(21,742)
(7,174)
Shareholders' funds
(21,741)
(7,173)
For the year ending 31 March 2024 the company was entitled to exemption from audit 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 director acknowledges her 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 4 February 2025 and were signed on its behalf by
Moya McQueen
Director
Company Registration No. 11909640
INFINITY FX GROUP LIMITED
Notes to the Accounts
for the year ended 31 March 2024
INFINITY FX GROUP LIMITED is a private company, limited by shares, registered in England and Wales, registration number 11909640. The registered office is Apartment 3 , 123-129 Lark Lane, Liverpool, L17 8UR, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
15% Reducing Balance
Computer equipment
33.33% Straight Line
The director draws attention to the continuing impact of what is being termed the cost of living crisis as well as the shifting position and barriers to free financial trading between the EU and UK. This resulted in the company having no financially viable contract for the majority of the reporting period.
This trend reversed at the end of the period after the director pursued several new avenues and this pursuit ended as she retrained to access a new contract under a new system.
It should be noted that whilst there are no immediate issues over whether the business is viable, there is some reliance on the director and loan creditor working with the business during this period to enable the business to remain viable.
INFINITY FX GROUP LIMITED
Notes to the Accounts
for the year ended 31 March 2024
4
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 April 2023
136
2,997
3,133
At 31 March 2024
136
2,997
3,133
At 1 April 2023
63
2,031
2,094
Charge for the year
10
483
493
At 31 March 2024
73
2,514
2,587
At 31 March 2024
63
483
546
At 31 March 2023
73
966
1,039
5
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
4,167
4,167
Taxes and social security
304
2,073
6
Creditors: amounts falling due after more than one year
2024
2023
7
Average number of employees
During the year the average number of employees was 1 (2023: 1).