Infinity Software Holdings Ltd - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 03134616 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2022

for

Infinity Software Holdings Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R J M Jephcott

R N Perring

G I Land

REGISTERED OFFICE:

Three Brindleyplace

Brindley Place

Birmingham

B1 2JB

REGISTERED NUMBER:

03134616 (England and Wales)

ACCOUNTANTS:

PB Associates

Chartered Accountants and Chartered Tax Advisers

2 Castle Business Village

Station Road

Hampton

Middlesex

TW12 2BX

FIXED ASSETS

Investments

3

63,471

63,471

CURRENT ASSETS

Debtors

4

87,856

85,300

Cash at bank

41,508

9,943

129,364

95,243

CREDITORS

Amounts falling due within one year

5

34,731

2,797

NET CURRENT ASSETS

94,633

92,446

TOTAL ASSETS LESS CURRENT LIABILITIES

158,104

155,917

CAPITAL AND RESERVES

Called up share capital

6

1,024

1,014

Share premium

7

140,662

137,522

Capital redemption reserve

7

516

516

Retained earnings

7

15,902

16,865

SHAREHOLDERS' FUNDS

158,104

155,917

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 March 2023 and were signed on its behalf by:

R J M Jephcott - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - NIL).

3.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2022

and 31 December 2022

63,471

NET BOOK VALUE

At 31 December 2022

63,471

At 31 December 2021

63,471

4.

DEBTORS

31.12.22

31.12.21

£

£

Amounts falling due within one year:

Other debtors

80

223

Amounts falling due after more than one year:

Amounts owed by group undertakings

87,776

85,077

Aggregate amounts

87,856

85,300

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.22

31.12.21

£

£

Trade creditors

32,117

451

Taxation and social security

414

147

Other creditors

2,200

2,199

34,731

2,797

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.22

31.12.21

value:

£

£

62,373

Ordinary

0.01

624

614

39,950

A Ordinary

0.01

400

400

1,024

1,014

7.

RESERVES

Capital

Retained

Share

redemption

earnings

premium

reserve

Totals

£

£

£

£

At 1 January 2022

16,865

137,522

516

154,903

Profit for the year

599,037

599,037

Dividends

(600,000

)

(600,000

)

Cash share issue

-

3,140

-

3,140

At 31 December 2022

15,902

140,662

516

157,080

8.	ENTERPRISE MANAGEMENT INCENTIVE SCHEME

The company operates an enterprise management incentive scheme in order to reward and retain staff.