Company Registration No. 11847290 (England and Wales)
Infraspeak Ltd
Unaudited accounts
for the year ended 31 December 2020
Infraspeak Ltd
Unaudited accounts
Contents
Infraspeak Ltd
Company Information
for the year ended 31 December 2020
Directors
Felipe Ávila Da Costa
Luis Carlos Silva Veiga Martins
Company Number
11847290 (England and Wales)
Registered Office
2.05, 12-18 Hoxton Street
London
N1 6NG
England
Accountants
The Accountancy Cloud
12-18 Hoxton Street
London
N1 6NG
UK
Infraspeak Ltd
Statement of financial position
as at 31 December 2020
Tangible assets
2,445
1,711
Cash at bank and in hand
17,634
4,278
Creditors: amounts falling due within one year
(1,572)
(3,898)
Net current assets
17,429
7,903
Total assets less current liabilities
19,874
9,614
Creditors: amounts falling due after more than one year
(218,150)
(135,636)
Net liabilities
(198,276)
(126,022)
Profit and loss account
(198,276)
(126,022)
Shareholders' funds
(198,276)
(126,022)
For the year ending 31 December 2020 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 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 of Directors and authorised for issue on 15 June 2021 and were signed on its behalf by
Luis Carlos Silva Veiga Martins
Director
Company Registration No. 11847290
Infraspeak Ltd
Notes to the Accounts
for the year ended 31 December 2020
Infraspeak Ltd is a private company, limited by shares, registered in England and Wales, registration number 11847290. The registered office is 2.05, 12-18 Hoxton Street , London , N1 6NG, 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.
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.
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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
33.33% Straight Line
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 rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Upon review of the standalone financial statements of Infraspeak Limited, it was noted that adjustments were required to figures reported at Group level. This has resulted in an increase in loss for the year of £2,358.94. The amount is immaterial for the Group and therefore such accounts have not been amended.
The accounts have been prepared on the assumption that the company is able to carry on business as a going concern for the
foreseeable future.
Government grants are received in relation to the Coronavirus Job Retention Scheme and are credited to the profit and loss on receipt. The corresponding expense is also included within the profit and loss for the same period.
Infraspeak Ltd
Notes to the Accounts
for the year ended 31 December 2020
4
Tangible fixed assets
Computer equipment
5
Debtors: amounts falling due within one year
2020
2019
6
Creditors: amounts falling due within one year
2020
2019
Other creditors
1,572
3,745
7
Creditors: amounts falling due after more than one year
2020
2019
Amounts owed to group undertakings and other participating interests
218,150
135,636
8
Average number of employees
During the year the average number of employees was 1 (2019: 2).
