Ignite - PR & Engagement Limited
Unaudited Financial Statements
For the year ended 31 March 2022
For Filing with Registrar
Company Registration No. 11774350 (England and Wales)
Ignite - PR & Engagement Limited
Balance Sheet
As at 31 March 2022
31 March 2022
Page 1
2022
2021
Notes
£
£
£
£
Fixed assets
Tangible assets
3
320
468
Current assets
Debtors
4
2,016
1,163
Cash at bank and in hand
7,709
2,138
9,725
3,301
Creditors: amounts falling due within one year
5
(3,077)
(3,293)
Net current assets
6,648
8
Total assets less current liabilities
6,968
476
Capital and reserves
Called up share capital
6
100
100
Profit and loss reserves
6,868
376
Total equity
6,968
476

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved and signed by the director and authorised for issue on 9 August 2022
B Thompson
Director
Company Registration No. 11774350
Ignite - PR & Engagement Limited
Notes to the Financial Statements
For the year ended 31 March 2022
Page 2
1
Accounting policies
Company information

Ignite - PR & Engagement Limited is a private company limited by shares incorporated in England and Wales. The registered office is Betchworth House, 57-65 Station Road, Redhill, Surrey, United Kingdom, RH1 1DL.

1.1
Accounting convention

These financial statements have been prepared in accordance with section 1A of FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

At the Balance Sheet date, the company had net assets of £6,968. The director truehas considered the impact of the pandemic on the company's cash flow requirements and does not foresee any long term implications.

 

As a result, the director believes that the company will be able to continue in business and meet its liabilities as they fall due for a period of at least twelve months from the date of the approval of the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for PR and engagement services provided.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
20% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Ignite - PR & Engagement Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2022
1
Accounting policies
(Continued)
Page 3
1.6
Financial instruments

The company only has financial instruments classified as basic and measured at amortised cost. The company has no financial instruments that are classified as 'other' or financial instruments measured at fair value.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

2
Employees

The average monthly number of persons employed by the company during the year was nil (2021: nil).

3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2021 and 31 March 2022
739
Depreciation and impairment
At 1 April 2021
271
Depreciation charged in the year
148
At 31 March 2022
419
Carrying amount
At 31 March 2022
320
At 31 March 2021
468
Ignite - PR & Engagement Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2022
Page 4
4
Debtors
2022
2021
Amounts falling due within one year:
£
£
Other debtors
2,016
1,163
5
Creditors: amounts falling due within one year
2022
2021
£
£
Trade creditors
-
0
800
Corporation tax
1,554
-
0
Other creditors
1,523
2,493
3,077
3,293
6
Called up share capital
2022
2021
2022
2021
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
7
Related party transactions

At the Balance Sheet date £23 (2021: £915 ) was owed to the director, B Thompson.

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