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REGISTERED NUMBER: 04239681 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 July 2023

for

Ignition CBS Limited

Ignition CBS Limited (Registered number: 04239681)






Contents of the Financial Statements
for the Year Ended 31 July 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Ignition CBS Limited

Company Information
for the Year Ended 31 July 2023







DIRECTORS: P Davies
E Paynter





REGISTERED OFFICE: Suite 3
St John's Court, Bacup Road
Rawtenstall
Rossendale
Lancashire
BB4 7PA





REGISTERED NUMBER: 04239681 (England and Wales)





ACCOUNTANTS: Egan Roberts Limited
Accountants
Suite 46
Manor Court
Salesbury Hall Road
Ribchester
Lancashire
PR3 3XR

Ignition CBS Limited (Registered number: 04239681)

Balance Sheet
31 July 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 22,691 12,416

CURRENT ASSETS
Stocks 78,182 83,870
Debtors 5 655,459 706,199
Cash at bank 282,247 355,234
1,015,888 1,145,303
CREDITORS
Amounts falling due within one year 6 50,675 67,107
NET CURRENT ASSETS 965,213 1,078,196
TOTAL ASSETS LESS CURRENT
LIABILITIES

987,904

1,090,612

PROVISIONS FOR LIABILITIES 4,311 3,437
NET ASSETS 983,593 1,087,175

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 983,493 1,087,075
SHAREHOLDERS' FUNDS 983,593 1,087,175

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 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.

Ignition CBS Limited (Registered number: 04239681)

Balance Sheet - continued
31 July 2023


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 November 2023 and were signed on its behalf by:




P Davies - Director



E Paynter - Director


Ignition CBS Limited (Registered number: 04239681)

Notes to the Financial Statements
for the Year Ended 31 July 2023

1. STATUTORY INFORMATION

Ignition CBS 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.

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 each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Ignition CBS Limited (Registered number: 04239681)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

2. ACCOUNTING POLICIES - continued

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 7 (2022 - 7 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Leasehold and Computer
improvements fittings equipment Totals
£    £    £    £   
COST
At 1 August 2022 1,813 18,740 26,633 47,186
Additions - 10,483 2,895 13,378
At 31 July 2023 1,813 29,223 29,528 60,564
DEPRECIATION
At 1 August 2022 1,271 15,828 17,671 34,770
Charge for year 135 728 2,240 3,103
At 31 July 2023 1,406 16,556 19,911 37,873
NET BOOK VALUE
At 31 July 2023 407 12,667 9,617 22,691
At 31 July 2022 542 2,912 8,962 12,416

5. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 54,862 106,327
Prepayments 4,878 4,153
59,740 110,480

Amounts falling due after more than one year:
Amounts owed by group undertakings 595,719 595,719

Aggregate amounts 655,459 706,199

Ignition CBS Limited (Registered number: 04239681)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 4,184 6,479
Tax 33,436 48,054
Social security and other taxes 1,906 6,692
VAT 7,692 -
Other creditors - 621
Directors' current accounts 647 647
Accrued expenses 2,810 4,614
50,675 67,107