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COMPANY REGISTRATION NUMBER: 05617662
Infrared Training Limited
Filleted Unaudited Financial Statements
For the year ended
30 November 2024
Infrared Training Limited
Statement of Financial Position
30 November 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
3,573
7,328
Current assets
Debtors
6
26,236
13,199
Cash at bank and in hand
186,175
181,147
---------
---------
212,411
194,346
Creditors: amounts falling due within one year
7
23,947
31,133
---------
---------
Net current assets
188,464
163,213
---------
---------
Total assets less current liabilities
192,037
170,541
---------
---------
Net assets
192,037
170,541
---------
---------
Capital and reserves
Called up share capital
2
2
Profit and loss account
192,035
170,539
---------
---------
Shareholders funds
192,037
170,541
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Infrared Training Limited
Statement of Financial Position (continued)
30 November 2024
These financial statements were approved by the board of directors and authorised for issue on 17 April 2025 , and are signed on behalf of the board by:
Mr A Dunne
Director
Company registration number: 05617662
Infrared Training Limited
Notes to the Financial Statements
Year ended 30 November 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Training Conference Centre, South Road, Speke, Liverpool, L24 9PZ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity. Revenue recognition Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Income tax The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the 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. Foreign currencies Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account. Tangible assets Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Depreciation Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - 33% straight line
Equipment - 33% straight line
Impairment of fixed assets A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Tangible assets
Plant and machinery
Equipment
Total
£
£
£
Cost
At 1 December 2023
61,496
12,502
73,998
Disposals
( 6,826)
( 6,826)
--------
--------
--------
At 30 November 2024
61,496
5,676
67,172
--------
--------
--------
Depreciation
At 1 December 2023
55,076
11,594
66,670
Charge for the year
3,209
547
3,756
Disposals
( 6,827)
( 6,827)
--------
--------
--------
At 30 November 2024
58,285
5,314
63,599
--------
--------
--------
Carrying amount
At 30 November 2024
3,211
362
3,573
--------
--------
--------
At 30 November 2023
6,420
908
7,328
--------
--------
--------
6. Debtors
2024
2023
£
£
Trade debtors
25,470
12,066
Other debtors
766
1,133
--------
--------
26,236
13,199
--------
--------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
3,393
8,713
Corporation tax
11,210
9,005
Social security and other taxes
255
2,200
Other creditors
9,089
11,215
--------
--------
23,947
31,133
--------
--------