REGISTERED NUMBER: |
Abridged Unaudited Financial Statements for the Year Ended 31 March 2023 |
for |
Infinity Digital Agency Limited |
REGISTERED NUMBER: |
Abridged Unaudited Financial Statements for the Year Ended 31 March 2023 |
for |
Infinity Digital Agency Limited |
Infinity Digital Agency Limited (Registered number: 13099537) |
Contents of the Financial Statements |
for the Year Ended 31 March 2023 |
Page |
Abridged Balance Sheet | 1 |
Notes to the Financial Statements | 3 |
Infinity Digital Agency Limited (Registered number: 13099537) |
Abridged Balance Sheet |
31 March 2023 |
31.3.23 | 31.3.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
( |
) | ( |
) |
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. |
Infinity Digital Agency Limited (Registered number: 13099537) |
Abridged Balance Sheet - continued |
31 March 2023 |
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Infinity Digital Agency Limited (Registered number: 13099537) |
Notes to the Financial Statements |
for the Year Ended 31 March 2023 |
1. | STATUTORY INFORMATION |
Infinity Digital Agency Limited is a |
Registered number: |
Registered office: |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Going Concern |
The company ceased trading on 1 August 2023 and as such the company is not a going concern. These financial statements have not departed significantly from the requirements of FRS 102 as a result of the company no longer being considered a going concern. |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Fixtures and fittings | - |
Computer equipment | - |
Infinity Digital Agency Limited (Registered number: 13099537) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2023 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 April 2022 |
Additions |
At 31 March 2023 |
DEPRECIATION |
At 1 April 2022 |
Charge for year |
At 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
At 31 March 2022 |
Infinity Digital Agency Limited (Registered number: 13099537) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2023 |
5. | POST BALANCE SHEET EVENTS |
As disclosed in the accounting policies note at Note 2, the company ceased trading on 1 August 2023 on the grounds that the directors conclude the business is not commercially viable to continue as a going concern. The going concern basis is not appropriate and the directors have therefore not prepared the financial statements on that basis. |
6. | ULTIMATE CONTROLLING PARTY |
The controlling party is Apted Group Ltd, a company registered in England and Wales. |
The registered address is 26-28 Kempton Road, Keytec 7 Business Park, Pershore, Worcestershire, WR10 2TA. |
The ultimate controlling party is Mrs J M Apted by virtue of her controlling interest in the parent company. |