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Registered number: 14433335
Infinity Financial Solutions Limited
Unaudited Financial Statements
For The Year Ended 31 December 2024
Infinity Financial Solutions Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 14433335
31 December 2024 31 December 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 120,725 133,896
Tangible Assets 5 23,509 13,964
Investments 6 1 1
144,235 147,861
CURRENT ASSETS
Stocks 7 8,419 8,234
Debtors 8 59,776 14,068
Cash at bank and in hand 4,808 20,118
73,003 42,420
Creditors: Amounts Falling Due Within One Year 9 (45,186 ) (35,709 )
NET CURRENT ASSETS (LIABILITIES) 27,817 6,711
TOTAL ASSETS LESS CURRENT LIABILITIES 172,052 154,572
Creditors: Amounts Falling Due After More Than One Year 10 (95,893 ) (121,619 )
NET ASSETS 76,159 32,953
CAPITAL AND RESERVES
Called up share capital 11 200 100
Share premium account 12,740 -
Profit and Loss Account 63,219 32,853
SHAREHOLDERS' FUNDS 76,159 32,953
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For the year ending 31 December 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 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Jordan Moody
Director
14/06/2025
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Infinity Financial Solutions Limited is a private company, limited by shares, incorporated in England & Wales, registered number 14433335 . The registered office is 29-31 High Street, Fordingbridge, Hampshire, SP6 1AS.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are .... It is amortised to profit and loss account over its estimated economic life of .... years.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 6 Years
Plant & Machinery 20% Straight Line
Fixtures & Fittings 20% Straight Line
Computer Equipment 20% Straight Line
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.7. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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2.8. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2023: 3)
4 3
4. Intangible Assets
Goodwill Other Total
£ £ £
Cost
As at 1 January 2024 139,388 745 140,133
Additions 833 123 956
As at 31 December 2024 140,221 868 141,089
Amortisation
As at 1 January 2024 5,961 276 6,237
Provided during the period 13,936 191 14,127
As at 31 December 2024 19,897 467 20,364
Net Book Value
As at 31 December 2024 120,324 401 120,725
As at 1 January 2024 133,427 469 133,896
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5. Tangible Assets
Land & Property
Leasehold Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 January 2024 3,301 7,878 7,897 19,076
Additions 4,890 4,705 5,301 14,896
As at 31 December 2024 8,191 12,583 13,198 33,972
Depreciation
As at 1 January 2024 79 3,204 1,829 5,112
Provided during the period 1,204 1,723 2,424 5,351
As at 31 December 2024 1,283 4,927 4,253 10,463
Net Book Value
As at 31 December 2024 6,908 7,656 8,945 23,509
As at 1 January 2024 3,222 4,674 6,068 13,964
6. Investments
Subsidiaries
£
Cost
As at 1 January 2024 1
As at 31 December 2024 1
Provision
As at 1 January 2024 -
As at 31 December 2024 -
Net Book Value
As at 31 December 2024 1
As at 1 January 2024 1
7. Stocks
31 December 2024 31 December 2023
£ £
Work in progress 8,419 8,234
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8. Debtors
31 December 2024 31 December 2023
£ £
Due within one year
Trade debtors 9,355 7,041
Other debtors 47,733 7,027
57,088 14,068
Due after more than one year
Other debtors 2,688 -
59,776 14,068
9. Creditors: Amounts Falling Due Within One Year
31 December 2024 31 December 2023
£ £
Trade creditors 7,307 2,880
Bank loans and overdrafts 4,220 -
Other creditors 4,621 4,066
Taxation and social security 29,038 28,763
45,186 35,709
10. Creditors: Amounts Falling Due After More Than One Year
31 December 2024 31 December 2023
£ £
Bank loans 41,870 -
Other creditors 54,023 121,619
95,893 121,619
11. Share Capital
31 December 2024 31 December 2023
£ £
Allotted, Called up and fully paid 200 100
12. Post Balance Sheet Events
On the 2nd April 2025 the business paid a loan off in full to the value of £24,144 at the balance sheet date which is included within the creditors falling due more than one year.
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