Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31falseEnvironmental consulting activities2022-03-29false30trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 14010282 2022-03-28 14010282 2022-03-29 2023-03-31 14010282 2021-03-29 2022-03-28 14010282 2023-03-31 14010282 c:Director1 2022-03-29 2023-03-31 14010282 d:PlantMachinery 2022-03-29 2023-03-31 14010282 d:PlantMachinery 2023-03-31 14010282 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-03-29 2023-03-31 14010282 d:MotorVehicles 2022-03-29 2023-03-31 14010282 d:MotorVehicles 2023-03-31 14010282 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-03-29 2023-03-31 14010282 d:OwnedOrFreeholdAssets 2022-03-29 2023-03-31 14010282 d:CurrentFinancialInstruments 2023-03-31 14010282 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 14010282 d:ShareCapital 2023-03-31 14010282 d:RetainedEarningsAccumulatedLosses 2023-03-31 14010282 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-03-31 14010282 c:OrdinaryShareClass1 2022-03-29 2023-03-31 14010282 c:OrdinaryShareClass1 2023-03-31 14010282 c:FRS102 2022-03-29 2023-03-31 14010282 c:AuditExempt-NoAccountantsReport 2022-03-29 2023-03-31 14010282 c:FullAccounts 2022-03-29 2023-03-31 14010282 c:PrivateLimitedCompanyLtd 2022-03-29 2023-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 14010282









IGNITE INSULATION LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2023

 
IGNITE INSULATION LIMITED
REGISTERED NUMBER: 14010282

BALANCE SHEET
AS AT 31 MARCH 2023

2023
Note
£

Fixed assets
  

Tangible assets
 4 
27,873

  
27,873

Current assets
  

Debtors: amounts falling due within one year
 5 
11,579

Cash at bank and in hand
 6 
50,869

  
62,448

Creditors: amounts falling due within one year
 7 
(73,495)

Net current (liabilities)/assets
  
 
 
(11,047)

Total assets less current liabilities
  
16,826

  

Net assets
  
16,826


Capital and reserves
  

Called up share capital 
 9 
100

Profit and loss account
  
16,726

  
16,826

Page 1

 
IGNITE INSULATION LIMITED
REGISTERED NUMBER: 14010282
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 22 November 2023.




................................................
Jack Cezair
Director

The notes on pages 3 to 6 form part of these financial statements.
Page 2

 
IGNITE INSULATION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

1.


General information

The Company is a private company limited by share capital, incorporated in England and Wales. Principal activity of the Company throughout the year was that of environmental consulting activities. The Company was incorporated on 29th March 2022 and commenced trading on 12th May 2022.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 
IGNITE INSULATION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

2.Accounting policies (continued)


2.3
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
20%
reducing balance
Motor vehicles
-
25%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.4

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.6

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.7

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Employees

The average monthly number of employees, including directors, during the period was 3.

Page 4

 
IGNITE INSULATION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Total

£
£
£



Cost or valuation


Additions
7,052
29,643
36,695



At 31 March 2023

7,052
29,643
36,695



Depreciation


Charge for the period on owned assets
1,411
7,411
8,822



At 31 March 2023

1,411
7,411
8,822



Net book value



At 31 March 2023
5,641
22,232
27,873


5.


Debtors

2023
£


Trade debtors
7,041

Other debtors
4,538

11,579



6.


Cash and cash equivalents

2023
£

Cash at bank and in hand
50,869

50,869


Page 5

 
IGNITE INSULATION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

7.


Creditors: Amounts falling due within one year

2023
£

Other taxation and social security
1,261

Other creditors
71,284

Accruals and deferred income
950

73,495


Included in other creditors is a directors' loan account balance of £70,642 in relation to Jack Cezair and £642 in relation to Henry Mclachlan.


8.


Financial instruments

2023
£

Financial assets


Financial assets measured at fair value through profit or loss
50,869



Financial assets measured at fair value through profit or loss comprise of cash at bank and in hand.


9.


Share capital

2023
£
Allotted, called up and fully paid


100 Ordinary shares shares of £1.00 each
100


Upon incorporation, 100 Ordinary £1 shares were issued at par.


10.


Controlling party

There is no overall controlling party.
 
Page 6