Registration number:
Infinity Skills LLP
for the Year Ended 31 March 2026
Infinity Skills LLP
Contents
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Limited liability partnership information |
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Balance Sheet |
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Notes to the Financial Statements |
Infinity Skills LLP
Limited liability partnership information
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Designated members |
Purple Factors Ltd |
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Registered office |
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Auditors |
Hazlewoods LLP |
Infinity Skills LLP
(Registration number: OC416534 (ENGLAND & WALES))
Balance Sheet as at 31 March 2026
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Note |
2026 |
2025 |
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Current assets |
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Debtors |
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Cash and short-term deposits |
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Creditors: Amounts falling due within one year |
( |
( |
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Net assets attributable to members |
- |
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Represented by: |
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Loans and other debts due to members |
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Members' capital classified as a liability |
- |
122,320 |
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- |
122,320 |
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Total members' interests |
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Amounts due from members |
(914) |
- |
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Loans and other debts due to members |
- |
122,320 |
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(914) |
122,320 |
These financial statements have been prepared and delivered in accordance with the provisions applicable to limited liability partnerships subject to the small limited liability partnerships regime. As permitted by section 444 (5A) of the Companies Act 2006, the members have not delivered to the registrar a copy of the Profit and Loss Account.
The financial statements of Infinity Skills LLP (registered number OC416534) were approved by the
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Infinity Skills LLP
Notes to the Financial Statements for the Year Ended 31 March 2026
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General information |
The place of registration of the LLP is England and Wales under the Limited Liability Partnership Act 2
The address of the registered office is:
The Aspen Building
Vantage Point Business Village
Mitcheldean
Gloucestershire
GL17 0DD
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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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (FRS 102 - Section 1a), the Statement of Recommended Practice "Accounting by Limited Liability Partnerships" issued in May 2024 (the "LLP SORP") and the requirements of the Companies Act 2006 as applied to LLPs under The Limited Liability Partners (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 (“the Regulations”). The LLP has taken advantage of the disclosure exemptions available to small entities.
The LLP has taken advantage of section 408 of the Companies Act 2006 as applied by the Regulations”) and has not included its own profit and loss account in these financial statements. The individual financial statements of the LLP also adopt the following disclosure exemptions given in FRS 102 Section 1a:
• the requirement to present a statement of cash flows and related notes
• the require to disclosure information about financial instruments
• the requirement to disclose certain related party transactions
• the requirement to disclose information of key management personnel
General information and basis of accounting
The limited liability partnership is incorporated in the England and Wales under the Limited Liability Partnership Act 2000. The address of the registered office is given on the limited liability partnership information page.
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.
The presentational currency of Infinity Skills LLP is considered to be pounds sterling because that is the currency of the primary economic environment in which the limited liability partnership operates. Monetary amounts in these financial statements have been rounded to the nearest pound.
The presentational currency of the financial statements is pounds sterling, being the functional currency of the primary economic environment in which the LLP operates. Monetary amounts in these financial statements are rounded to the nearest pound.
Going concern
After reviewing the LLP's forecasts and projections, the members have a reasonable expectation that the LLP has adequate resources to continue in operational existence for the foreseeable future and for at least twelve months from the end of the reporting period. The LLP therefore continues to adopt the going concern basis in preparing its financial statements.
Infinity Skills LLP
Notes to the Financial Statements for the Year Ended 31 March 2026
Revenue recognition
Fee income represents the fair value of services provided during the year on client assignments. Fair value reflects the amounts expected to be recoverable from clients based on time spent, skills provided and expenses incurred, and excludes VAT. Income is recognised as contract activity progresses and the right to consideration is secured, except where the final outcome cannot be assessed with reasonable certainty.
Income in respect of contingent fee assignments is recognised in the period when the contingent event occurs and collectability of the fee is assured.
Unbilled income on individual client assignments is included as amounts recoverable on contracts within debtors.
Members' remuneration and division of profits
Members’ division of profits are split between automatic and discretionary depending on the terms of the LLP agreement. Where remuneration is automatically paid to certain members under a contract of employment and is included as an expense in the profit and loss account after arriving at 'profit for the financial year before members' remuneration and profit shares'.
In addition, the limited liability partnership agreement provides that fixed amounts, determined for each member each year, be paid to members, irrespective of the profits of the partnership. These amounts are also included within members’ remuneration charged to the profit and loss account.
All amounts arising from the automatic division of profits, where the LLP does not have an unconditional right to avoid delivering cash or other assets based on the members’ agreement in force at the time, are recorded as liabilities under ‘loans and other debts due to members’.
A member's share of the profit or loss for the year is accounted for as an allocation of profits. Unallocated, discretionary profits and losses are included within 'other reserves' in the balance sheet and are subsequently treated per the terms of the LLP agreement.
Drawings are accounted for by member against the liabilities recorded under ‘loans and other debts due to members’. Amounts drawn by members against future divisions of profit (i.e. drawings on account) are loan assets repayable by members. A loan asset is extinguished when the member’s drawing on account is offset by a debt due to that member further to a division of profits or, for example, when repaid or waived in accordance with the LLP agreement.
Taxation
The taxation payable on the partnership's profits is the personal liability of the members. Consequently, neither partnership taxation nor related deferred taxation is accounted for in these financial statements.
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 limited liability partnership will not be able to collect all amounts due according to the original terms of the receivables.
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.
Members' interests
Members’ interests represent amounts due to or from members arising from profit allocations, drawings, tax payments, loans and annuity provisions.
Financial instruments
The LLP only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Infinity Skills LLP
Notes to the Financial Statements for the Year Ended 31 March 2026
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Particulars of employees |
The entity has no employees.
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Debtors |
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2026 |
2025 |
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Amounts owed by members |
- |
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Other debtors |
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- |
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Total current trade and other debtors |
914 |
117,026 |
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Creditors: Amounts falling due within one year |
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2026 |
2025 |
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Accruals and deferred income |
1,000 |
1,000 |
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Control |
The LLP is jointly controlled by its designated members, Keen Thinking Ltd and Purple Factors Limited. The ultimate parent undertaking and controlling party is Simplicity Global Limited, a company incorporated in England and Wales.
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Audit Report |