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REGISTERED NUMBER: 08819202 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2019

for

Infinity System Solutions Limited

Infinity System Solutions Limited (Registered number: 08819202)






Contents of the Financial Statements
for the Year Ended 31 December 2019




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Infinity System Solutions Limited

Company Information
for the Year Ended 31 December 2019







DIRECTORS: M A Main
N Henry





REGISTERED OFFICE: 1 St. Mary's Street
Ross-on-Wye
England
Herefordshire
HR9 5HT





BUSINESS ADDRESS: Suite 214 Innovation Centre
Festival Drive
Ebbw Vale
Blaenau Gwent
NP23 8XA





REGISTERED NUMBER: 08819202 (England and Wales)





ACCOUNTANTS: Thorne & Co.
Accountants
1 St Mary's Street
Ross-on-Wye
Herefordshire
HR9 5HT

Infinity System Solutions Limited (Registered number: 08819202)

Balance Sheet
31 December 2019

31.12.19 31.12.18
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,933 9,161

CURRENT ASSETS
Debtors 5 68,230 93,538
Cash at bank 227,190 129,971
295,420 223,509
CREDITORS
Amounts falling due within one year 6 102,626 81,042
NET CURRENT ASSETS 192,794 142,467
TOTAL ASSETS LESS CURRENT
LIABILITIES

194,727

151,628

PROVISIONS FOR LIABILITIES 7 367 1,558
NET ASSETS 194,360 150,070

RESERVES
Retained earnings 194,360 150,070
SHAREHOLDERS' FUNDS 194,360 150,070

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2019 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 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 10 November 2020 and were signed on its behalf by:



M A Main - Director


Infinity System Solutions Limited (Registered number: 08819202)

Notes to the Financial Statements
for the Year Ended 31 December 2019

1. STATUTORY INFORMATION

Infinity System Solutions Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. 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.

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
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Motor vehicles - 20% on reducing balance
Computer equipment - 30% on reducing balance

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Infinity System Solutions Limited (Registered number: 08819202)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2019

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2018 - 13 ) .

4. TANGIBLE FIXED ASSETS
Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 January 2019 12,421 5,636 18,057
Disposals (12,421 ) - (12,421 )
At 31 December 2019 - 5,636 5,636
DEPRECIATION
At 1 January 2019 6,021 2,875 8,896
Charge for year (100 ) 828 728
Eliminated on disposal (5,921 ) - (5,921 )
At 31 December 2019 - 3,703 3,703
NET BOOK VALUE
At 31 December 2019 - 1,933 1,933
At 31 December 2018 6,400 2,761 9,161

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.19 31.12.18
£    £   
Trade debtors 64,696 90,004
Prepayments and accrued income 3,534 3,534
68,230 93,538

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.19 31.12.18
£    £   
Trade creditors 43,926 28,385
Taxation and social security 58,700 51,657
Other creditors - 1,000
102,626 81,042

7. PROVISIONS FOR LIABILITIES
31.12.19 31.12.18
£    £   
Deferred tax
Accelerated capital allowances 367 1,558

Infinity System Solutions Limited (Registered number: 08819202)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2019

7. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 January 2019 1,558
Credit to Statement of Income and Retained Earnings during year (1,191 )
Balance at 31 December 2019 367