Caseware UK (AP4) 2024.0.164 2024.0.164 2024-10-312024-10-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false2023-11-01true2falseVideo, DVD and Music distributor2false 04551440 2023-11-01 2024-10-31 04551440 2022-11-01 2023-10-31 04551440 2024-10-31 04551440 2023-10-31 04551440 c:Director1 2023-11-01 2024-10-31 04551440 d:Buildings 2023-11-01 2024-10-31 04551440 d:Buildings 2024-10-31 04551440 d:Buildings 2023-10-31 04551440 d:Buildings d:OwnedOrFreeholdAssets 2023-11-01 2024-10-31 04551440 d:OfficeEquipment 2023-11-01 2024-10-31 04551440 d:OfficeEquipment 2024-10-31 04551440 d:OfficeEquipment 2023-10-31 04551440 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-11-01 2024-10-31 04551440 d:OwnedOrFreeholdAssets 2023-11-01 2024-10-31 04551440 d:Goodwill 2024-10-31 04551440 d:Goodwill 2023-10-31 04551440 d:CurrentFinancialInstruments 2024-10-31 04551440 d:CurrentFinancialInstruments 2023-10-31 04551440 d:Non-currentFinancialInstruments 2024-10-31 04551440 d:Non-currentFinancialInstruments 2023-10-31 04551440 d:CurrentFinancialInstruments d:WithinOneYear 2024-10-31 04551440 d:CurrentFinancialInstruments d:WithinOneYear 2023-10-31 04551440 d:Non-currentFinancialInstruments d:AfterOneYear 2024-10-31 04551440 d:Non-currentFinancialInstruments d:AfterOneYear 2023-10-31 04551440 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-10-31 04551440 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-10-31 04551440 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-10-31 04551440 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-10-31 04551440 d:ShareCapital 2024-10-31 04551440 d:ShareCapital 2023-10-31 04551440 d:RetainedEarningsAccumulatedLosses 2024-10-31 04551440 d:RetainedEarningsAccumulatedLosses 2023-10-31 04551440 c:OrdinaryShareClass1 2023-11-01 2024-10-31 04551440 c:OrdinaryShareClass1 2024-10-31 04551440 c:OrdinaryShareClass1 2023-10-31 04551440 c:FRS102 2023-11-01 2024-10-31 04551440 c:AuditExempt-NoAccountantsReport 2023-11-01 2024-10-31 04551440 c:FullAccounts 2023-11-01 2024-10-31 04551440 c:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 04551440 d:Goodwill d:OwnedIntangibleAssets 2023-11-01 2024-10-31 04551440 e:PoundSterling 2023-11-01 2024-10-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 04551440









INFINITY VIDEO LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 OCTOBER 2024

 
INFINITY VIDEO LIMITED
REGISTERED NUMBER: 04551440

BALANCE SHEET
AS AT 31 OCTOBER 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
1,800
2,400

Tangible assets
 5 
166,296
194,421

  
168,096
196,821

Current assets
  

Stocks
 6 
585,452
425,000

Debtors: amounts falling due within one year
 7 
49,183
227,248

Cash at bank and in hand
 8 
-
1,517

  
634,635
653,765

Creditors: amounts falling due within one year
 9 
(85,622)
(165,090)

Net current assets
  
 
 
549,013
 
 
488,675

Total assets less current liabilities
  
717,109
685,496

Creditors: amounts falling due after more than one year
 10 
(1,314,784)
(1,182,372)

  

Net liabilities
  
(597,675)
(496,876)


Capital and reserves
  

Called up share capital 
 12 
100
100

Profit and loss account
  
(597,775)
(496,976)

  
(597,675)
(496,876)


Page 1

 
INFINITY VIDEO LIMITED
REGISTERED NUMBER: 04551440
    
BALANCE SHEET (CONTINUED)
AS AT 31 OCTOBER 2024

The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 16 April 2025.




A D Munsey
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
INFINITY VIDEO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

1.


General information

Infinity Video Limited is a private company limited by shares and incorporated in England and Wales. The registered office of the company is Charles Lake House, Claire Causeway, Crossways Business Park, Dartford, DA2 6QA. The principal activity of the company is that of video, DVD and music distributors.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The company relies substantially on the director to fund its operations through ongoing loans. The director has confirmed his financial support will remain ongoing for the foreseeable future. Accordingly, the going concern basis has been adopted in the preparation of the financial statements.

 
2.3

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Page 3

 
INFINITY VIDEO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the company has transferred the significant risks and rewards of ownership to the buyer;
the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

  
2.7

Intangible assets

Goodwill
Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis to the statement of comprehensive income over its useful economic life of 10 years.

Page 4

 
INFINITY VIDEO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line and reducing balance method.

Depreciation is provided on the following basis:

Freehold and property
-
Not depreciated
Plant equipment
-
25% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

The company has not provided for depreciation on land and buildings and has therefore not complied with Companies Act 2006 requirements. It is the company's policy to maintain its properties in a sound state of repair and, accordingly, the director consider that the economic lives of the properties are so long and the residual value at such a level that depreciation would be inappropriate.

 
2.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 5

 
INFINITY VIDEO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).


4.


Intangible assets




Goodwill

£



Cost


At 1 November 2023
6,000



At 31 October 2024

6,000



Amortisation


At 1 November 2023
3,600


Charge for the year on owned assets
600



At 31 October 2024

4,200



Net book value



At 31 October 2024
1,800



At 31 October 2023
2,400



Page 6

 
INFINITY VIDEO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

5.


Tangible fixed assets





Freehold property
Plant equipment
Total

£
£
£



Cost 


At 1 November 2023
112,083
267,265
379,348


Additions
-
16,437
16,437


Disposals
-
(75,557)
(75,557)



At 31 October 2024

112,083
208,145
320,228



Depreciation


At 1 November 2023
-
184,927
184,927


Charge for the year on owned assets
-
44,452
44,452


Disposals
-
(75,447)
(75,447)



At 31 October 2024

-
153,932
153,932



Net book value



At 31 October 2024
112,083
54,213
166,296



At 31 October 2023
112,083
82,338
194,421


6.


Stocks

2024
2023
£
£

Stocks and work in progress
585,452
425,000


Page 7

 
INFINITY VIDEO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

7.


Debtors

2024
2023
£
£


Trade debtors
26,255
197,248

Prepayments and accrued income
22,928
30,000

49,183
227,248



8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
-
1,517

Less: bank overdrafts
(25,764)
(315)

(25,764)
1,202



9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
25,764
315

Bank loans
7,500
7,500

Trade creditors
28,522
123,475

Other taxation and social security
17,687
24,700

Other creditors
2,309
2,465

Accruals and deferred income
3,840
6,635

85,622
165,090



10.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
9,376
16,876

Other creditors
1,305,408
1,165,496

1,314,784
1,182,372


Page 8

 
INFINITY VIDEO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

11.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
7,500
7,500

Amounts falling due 1-2 years

Bank loans
7,500
7,500

Amounts falling due 2-5 years

Bank loans
1,876
9,376


16,876
24,376



12.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary shares of £1.00 each
100
100



13.


Related party transactions

Included within other creditors due within one year and other creditors due after more than one year are the amounts due to the director of the company amounting to £1,305,408 (2023 - £1,165,496).

 
Page 9