Infinity (Bristol) Limited - Period Ending 2023-06-30

Infinity (Bristol) Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 7

Infinity (Bristol) Limited

Company Information

Directors

J A Tolfree V M O'Shea

Company secretary

Burton Sweet Company Secretarial Limited

Registered office

Cooper House Lower Charlton Estate Shepton Mallet Somerset BA4 5QE

Accountants

Burton Sweet Limited Chartered Accountants and Business Advisers Cooper House Lower Charlton Estate Shepton Mallet Somerset BA4 5QE

Infinity (Bristol) Limited

(Registration number: 08268187)
Balance Sheet
30 June 2023

	Note	2023 £	2022 £
Fixed assets
Investment property	4	900,000	750,000
Current assets
Debtors	5	3,482	-
Cash at bank and in hand		32,632	39,593
		36,114	39,593
Creditors: Amounts falling due within one year	6	(52,952)	(93,579)
Net current liabilities		(16,838)	(53,986)
Total assets less current liabilities		883,162	696,014
Creditors: Amounts falling due after more than one year	6	(157,965)	(212,364)
Net assets		725,197	483,650
Capital and reserves
Called up share capital		2	2
Retained earnings		725,195	483,648
Shareholders' funds		725,197	483,650

Infinity (Bristol) Limited

(Registration number: 08268187)
Balance Sheet
30 June 2023

For the financial year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 18 December 2023 and signed on its behalf by:
 

......................................... J A Tolfree Director

Infinity (Bristol) Limited

Notes to the Unaudited Financial Statements
Year Ended 30 June 2023

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Cooper House
Lower Charlton Estate
Shepton Mallet
Somerset
BA4 5QE

These financial statements were authorised for issue by the Board on 18 December 2023.

2	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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

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.

Revenue recognition

Turnover comprises rent received on residential property and is not subject to VAT.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Infinity (Bristol) Limited

Notes to the Unaudited Financial Statements
Year Ended 30 June 2023

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined by the directors.

Trade debtors

Trade debtors are amounts due from customers services performed in the ordinary course of business and are recognised initially at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest expense is included in interest payable and similar charges. Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2022 - 0).

4	Investment properties

	2023 £
At 1 July	750,000
Fair value adjustments	150,000
At 30 June	900,000

5

Debtors

	2023 £	2022 £
Other debtors	3,482	-
	3,482	-

Infinity (Bristol) Limited

Notes to the Unaudited Financial Statements
Year Ended 30 June 2023

6

Creditors

Creditors: amounts falling due within one year

	Note	2023 £	2022 £
Due within one year
Loans and borrowings	7	24,000	26,000
Taxation and social security		27,416	23,137
Other creditors		1,536	44,442
		52,952	93,579
Due after one year
Loans and borrowings	7	157,965	180,557
Other non-current financial liabilities		-	31,807
		157,965	212,364

Creditors: amounts falling due after more than one year

	Note	2023 £	2022 £
Due after one year
Loans and borrowings	7	157,965	180,557
Other non-current financial liabilities		-	31,807
		157,965	212,364

7	Loans and borrowings

	2023 £	2022 £
Non-current loans and borrowings
Bank borrowings	157,965	180,557

	2023 £	2022 £
Current loans and borrowings
Bank borrowings	24,000	26,000

Infinity (Bristol) Limited

Notes to the Unaudited Financial Statements
Year Ended 30 June 2023

Barclays Bank Plc hold a charge over the investment property held by the company.