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Company No: 03722757 (England and Wales)

INFINITE SPIRIT LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2025
Pages for filing with the registrar

INFINITE SPIRIT LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2025

Contents

INFINITE SPIRIT LIMITED

COMPANY INFORMATION

For the financial year ended 31 March 2025
INFINITE SPIRIT LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 March 2025
Director J P D Ryeland
Registered office Bramley Barn Statenborough Lane
Eastry
Sandwich
CT13 0DJ
United Kingdom
Company number 03722757 (England and Wales)
Accountant Kreston Reeves LLP
37 St Margarets Street
Canterbury
Kent
CT1 2TU

ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF
THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF INFINITE SPIRIT LIMITED

For the financial year ended 31 March 2025

ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF
THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF INFINITE SPIRIT LIMITED (continued)

For the financial year ended 31 March 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Infinite Spirit Limited for the financial year ended 31 March 2025 which comprise the Balance Sheet and the related notes 1 to 7 from the Company’s accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/regulation.

It is your duty to ensure that Infinite Spirit Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Infinite Spirit Limited. You consider that Infinite Spirit Limited is exempt from the statutory audit requirement for the financial year.

We have not been instructed to carry out an audit or a review of the financial statements of Infinite Spirit Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

This report is made solely to the Director of Infinite Spirit Limited, as a body, in accordance with the terms of our engagement letter dated 09 June 2023. Our work has been undertaken solely to prepare for your approval the financial statements of Infinite Spirit Limited and state those matters that we have agreed to state to the director of Infinite Spirit Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Infinite Spirit Limited and its Director as a body for our work or for this report.

Kreston Reeves LLP
Chartered Accountants

37 St Margarets Street
Canterbury
Kent
CT1 2TU

20 May 2025

INFINITE SPIRIT LIMITED

BALANCE SHEET

As at 31 March 2025
INFINITE SPIRIT LIMITED

BALANCE SHEET (continued)

As at 31 March 2025
Note 2025 2024
£ £
Fixed assets
Tangible assets 3 3,664 3,224
3,664 3,224
Current assets
Stocks 153,341 228,232
Debtors 4 37,835 147,776
Cash at bank and in hand 210,796 177,598
401,972 553,606
Creditors: amounts falling due within one year 5 ( 352,684) ( 505,772)
Net current assets 49,288 47,834
Total assets less current liabilities 52,952 51,058
Net assets 52,952 51,058
Capital and reserves
Called-up share capital 6 100 100
Profit and loss account 52,852 50,958
Total shareholders' funds 52,952 51,058

For the financial year ending 31 March 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Infinite Spirit Limited (registered number: 03722757) were approved and authorised for issue by the Director on 20 May 2025. They were signed on its behalf by:

J P D Ryeland
Director
INFINITE SPIRIT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025
INFINITE SPIRIT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Infinite Spirit Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Bramley Barn Statenborough Lane, Eastry, Sandwich, CT13 0DJ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so 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.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Office equipment 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

2025 2024
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Tangible assets

Office equipment Total
£ £
Cost
At 01 April 2024 6,479 6,479
Additions 1,521 1,521
At 31 March 2025 8,000 8,000
Accumulated depreciation
At 01 April 2024 3,255 3,255
Charge for the financial year 1,081 1,081
At 31 March 2025 4,336 4,336
Net book value
At 31 March 2025 3,664 3,664
At 31 March 2024 3,224 3,224

4. Debtors

2025 2024
£ £
Trade debtors 32,955 143,703
Prepayments 4,880 4,073
37,835 147,776

5. Creditors: amounts falling due within one year

2025 2024
£ £
Trade creditors 4,505 125,663
Taxation and social security 2,429 23,459
Other creditors 345,750 356,650
352,684 505,772

6. Called-up share capital

2025 2024
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

7. Related party transactions

During the year, salary recharges were paid to Bramley Barn Investments Limited, a company of which J P D Ryeland is a director and shareholder, in the sum of £23,500 (2024: £29,000). At the year end a balance was owed from Bramley Barn Investments Limited to the company in the sum of £Nil (2024: £Nil).

All loans were made under normal market conditions.