Company Registration No. 12117794 (England and Wales)
Infinity Invest Ltd
Unaudited accounts
for the year ended 31 July 2022
Infinity Invest Ltd
Unaudited accounts
Contents
Infinity Invest Ltd
Company Information
for the year ended 31 July 2022
Company Number
12117794 (England and Wales)
Registered Office
141 Narborough Road South
Leicester
LE3 2LH
England
Infinity Invest Ltd
Statement of financial position
as at 31 July 2022
Intangible assets
7,003
10,431
Investment property
105,480
105,480
Cash at bank and in hand
1,510
2,318
Creditors: amounts falling due within one year
(98,179)
(102,373)
Net current liabilities
(96,669)
(100,055)
Total assets less current liabilities
15,814
15,856
Creditors: amounts falling due after more than one year
(25,000)
(25,000)
Net liabilities
(9,186)
(9,144)
Called up share capital
100
100
Profit and loss account
(9,286)
(9,244)
Shareholders' funds
(9,186)
(9,144)
For the year ending 31 July 2022 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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 30 September 2022 and were signed on its behalf by
Mr Metash Jilka
Director
Company Registration No. 12117794
Infinity Invest Ltd
Notes to the Accounts
for the year ended 31 July 2022
Infinity Invest Ltd is a private company, limited by shares, registered in England and Wales, registration number 12117794. The registered office is 141 Narborough Road South, Leicester, LE3 2LH, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Investments is shown at the most recent valuation. The aggregate surplus or deficit arising from changes in the fair value is recognized in the profit or loss.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
The directors have a reasonable expectation that the company has adequate resources to continue in operation for the foreseeable future. Thus they continue to adopt the going concern basis in the preparation of the financial statements.
Infinity Invest Ltd
Notes to the Accounts
for the year ended 31 July 2022
4
Intangible fixed assets
Other
Fair value at 1 August 2021
105,480
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
7
Creditors: amounts falling due within one year
2022
2021
Taxes and social security
233
-
Loans from directors
97,246
101,723
8
Creditors: amounts falling due after more than one year
2022
2021
Other creditors
25,000
25,000
Allotted, called up and fully paid:
75 Ordinary shares A of £1 each
75
75
25 Ordinary shares B of £1 each
25
25
Infinity Invest Ltd
Notes to the Accounts
for the year ended 31 July 2022
10
Average number of employees
During the year the average number of employees was 1 (2021: 1).
