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Registration number: 06874507

Infitech Solutions Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Infitech Solutions Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Infitech Solutions Limited

Company Information

Director

Mr Ravikumar Tholasiraman Buddha

Registered office

46 Gainsborough Road
New Malden
Surrey
KT3 5NU

Accountants

Sterling Associates
Chartered Certified Accountants5 Theobald Court
Theobald Street
Elstree
Hertfordshire
WD6 4RN

 

Infitech Solutions Limited

(Registration number: 06874507)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

6,923

388

Tangible assets

5

4,517

5,599

 

11,440

5,987

Current assets

 

Debtors

6

483,262

684,187

Cash at bank and in hand

 

6,803

33,519

 

490,065

717,706

Creditors: Amounts falling due within one year

7

(587,009)

(709,076)

Net current (liabilities)/assets

 

(96,944)

8,630

Total assets less current liabilities

 

(85,504)

14,617

Provisions for liabilities

(1,129)

(1,064)

Net (liabilities)/assets

 

(86,633)

13,553

Capital and reserves

 

Called up share capital

8

1,000

1,000

Retained earnings

(87,633)

12,553

Shareholders' (deficit)/funds

 

(86,633)

13,553

For the financial year ending 30 April 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 accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act 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. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 2 June 2025
 

 

Infitech Solutions Limited

(Registration number: 06874507)
Balance Sheet as at 30 April 2024

.........................................
Mr Ravikumar Tholasiraman Buddha
Director

 

Infitech Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
46 Gainsborough Road
New Malden
Surrey
KT3 5NU
United Kingdom

These financial statements were authorised for issue by the director on 2 June 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Infitech Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Infitech Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

Infitech Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

4

Intangible assets

Internally generated software development costs
 £

Total
£

Cost or valuation

At 1 May 2023

12,585

12,585

Additions acquired separately

9,861

9,861

At 30 April 2024

22,446

22,446

Amortisation

At 1 May 2023

12,197

12,197

Amortisation charge

3,326

3,326

At 30 April 2024

15,523

15,523

Carrying amount

At 30 April 2024

6,923

6,923

At 30 April 2023

388

388

5

Tangible assets

Fixtures and fittings
£

Office equipment
£

Total
£

Cost or valuation

At 1 May 2023

12,297

11,276

23,573

At 30 April 2024

12,297

11,276

23,573

Depreciation

At 1 May 2023

9,116

8,858

17,974

Charge for the year

477

605

1,082

At 30 April 2024

9,593

9,463

19,056

Carrying amount

At 30 April 2024

2,704

1,813

4,517

At 30 April 2023

3,181

2,418

5,599

 

Infitech Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

6

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

57,847

5,366

Amounts owed by related parties

10

30,000

30,000

Prepayments

 

-

81,081

Other debtors

 

395,415

567,740

   

483,262

684,187

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

11,243

16,417

Trade creditors

 

13,071

19,881

Taxation and social security

 

3,123

9,544

Accruals and deferred income

 

5,213

3,713

Other creditors

 

554,359

659,521

 

587,009

709,076

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

1,000

1,000

1,000

1,000

       

9

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank borrowings

11,243

16,417

10

Related party transactions

 

Infitech Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Director's remuneration

The director's remuneration for the year was as follows:

2024
£

2023
£

Remuneration

-

45,833