Infinity (Bristol) Limited - Period Ending 2017-06-30

Registration number: 08268187

Infinity (Bristol) Limited

Annual Report and Unaudited Financial Statements (Filleted)

for the Period from 1 February 2016 to 30 June 2017

Infinity (Bristol) Limited

Contents

Balance Sheet	1 to 2
Notes to the Financial Statements	3 to 6

Infinity (Bristol) Limited

(Registration number: 08268187)
Balance Sheet
30 June 2017

	Note	2017 £	2016 £
Fixed assets
Investment property	3	750,000	750,000
Current assets
Cash at bank and in hand		7,407	11,181
Creditors: Amounts falling due within one year	5	(181,800)	(177,410)
Net current liabilities		(174,393)	(166,229)
Total assets less current liabilities		575,607	583,771
Creditors: Amounts falling due after more than one year	5	(410,447)	(441,174)
Net assets		165,160	142,597
Capital and reserves
Called up share capital		2	2
Profit and loss account		165,158	142,595
Total equity		165,160	142,597

The notes on pages 3 to 6 form an integral part of these financial statements.

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1

Infinity (Bristol) Limited

(Registration number: 08268187)
Balance Sheet
30 June 2017

For the financial period ending 30 June 2017 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 period 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 29 March 2018 and signed on its behalf by:
 

.........................................

J A Tolfree

Director

The notes on pages 3 to 6 form an integral part of these financial statements.

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2

Infinity (Bristol) Limited

Notes to the Financial Statements
Period from 1 February 2016 to 30 June 2017

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

The principal place of business is:
Unit 5 Septimus
Hawkfield Way
Hawkfield Business Park
BRISTOL
BS14 0BL

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

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3

Infinity (Bristol) Limited

Notes to the Financial Statements
Period from 1 February 2016 to 30 June 2017

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and 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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3	Investment properties

	2017 £
At 1 February	750,000

There has been no valuation of investment property by an independent valuer.

4

Debtors

	2017 £	2016 £
Total current trade and other debtors	-	-

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4

Infinity (Bristol) Limited

Notes to the Financial Statements
Period from 1 February 2016 to 30 June 2017

5

Creditors

	Note	2017 £	2016 £
Due within one year
Loans and borrowings	6	20,472	20,472
Trade creditors		-	1,074
Amounts owed to group undertakings and undertakings in which the company has a participating interest	7	-	62,500
Other creditors		155,749	85,821
Corporation tax liability		5,579	7,543
		181,800	177,410
Due after one year
Loans and borrowings	6	315,026	345,753
Other non-current financial liabilities		95,421	95,421
		410,447	441,174

6	Loans and borrowings

	2017 £	2016 £
Non-current loans and borrowings
Bank borrowings	315,026	345,753

	2017 £	2016 £
Current loans and borrowings
Bank borrowings	20,472	20,472

7	Related party transactions

Summary of transactions with parent

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5

Infinity (Bristol) Limited

Notes to the Financial Statements
Period from 1 February 2016 to 30 June 2017

VMR Publicity Limited
(Parent Company)
 At the year end that was a balance due to VMR Publicity of £95,421 (2016 - £157,921)
 

Summary of transactions with entities with joint control or significant interest

Clifton Canvas Development Limited
(Under Common Control)
 At the year end there was a balance due to Clifton Canvas Development of £154,565 (2016 - £84,821)
 Interest is charged on this loan at a commercial rate. This loan is repayable on demand.
 

8	Parent and ultimate parent undertaking

The company's immediate parent is VMR Publicity Limited, incorporated in England.

 

9	Transition to FRS 102

No changes have been made as a result of the transition to FRS102.

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