INFINITY_PRO_SW_LTD - Accounts

INFINITY PRO SW LTD - Company Information

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Company Registration No. 07519376 (England and Wales)

INFINITY PRO SW LTD

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2016

INFINITY PRO SW LTD

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

INFINITY PRO SW LTD

ABBREVIATED BALANCE SHEET

AS AT

30 APRIL 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

292

2,961

Current assets

Stocks

16,515

6,000

Debtors

24,471

11,111

Cash at bank and in hand

9,168

2,875

50,154

19,986

Creditors: amounts falling due within one year

(22,665)

(10,524)

Net current assets

27,489

9,462

Total assets less current liabilities

27,781

12,423

Creditors: amounts falling due after more than one year

(27,677)

(12,250)

104

173

Capital and reserves

Called up share capital

100

Profit and loss account

Shareholders' funds

104

173

For the financial year ended 30 April 2016 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 financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 4 January 2017

Mr R L Savage

Miss A L Deeks

Director

Company Registration No. 07519376

INFINITY PRO SW LTD

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 APRIL 2016

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Fixtures, fittings & equipment

25% straight line

1.5

Stock

Stock is valued at the lower of cost and net realisable value, using the FIFO method of valuation.

1.6

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

INFINITY PRO SW LTD

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 APRIL 2016

- 3 -

Fixed assets

Tangible assets

Cost

At 1 May 2015

11,313

Additions

858

Disposals

(795)

At 30 April 2016

11,376

Depreciation

At 1 May 2015

8,352

On disposals

(112)

Charge for the year

2,844

At 30 April 2016

11,084

Net book value

At 30 April 2016

292

At 30 April 2015

2,961

Creditors: amounts falling due after more than one year

2016

2015

Analysis of loans repayable in more than five years

Share capital

2016

2015

Allotted, called up and fully paid

100 Ordinary shares of £1 each

100

Related party relationships and transactions

Advances and credits

Advances and credits granted to the directors during the year are outlined in the table below:

% Rate

Opening Balance

Amounts Advanced

Interest Charged

Amounts Repaid

Closing Balance

Mr R L Savage - Amounts advanced

3.00

11,111

44,083

454

32,699

22,949

11,111

44,083

454

32,699

22,949