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REGISTERED NUMBER: 09054143 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 October 2023

for

Ignite Data Limited

Ignite Data Limited (Registered number: 09054143)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Ignite Data Limited

Company Information
for the Year Ended 31 October 2023







DIRECTORS: Mr D Hydes
Mr R I Yeatman
Mr M S Virdee
Mr G Webster





REGISTERED OFFICE: c/o Wilson Partners Limited,
TOR
Saint-Cloud Way
Maidenhead
Berkshire
SL6 8BN





REGISTERED NUMBER: 09054143 (England and Wales)





ACCOUNTANTS: Wilson Partners Limited
Chartered Accountants
TOR
Saint-Cloud Way
Maidenhead
Berkshire
SL6 8BN

Ignite Data Limited (Registered number: 09054143)

Balance Sheet
31 October 2023

31.10.23 31.10.22
Notes £    £   
FIXED ASSETS
Intangible assets 4 556,508 385,247
Tangible assets 5 9,670 10,325
566,178 395,572

CURRENT ASSETS
Debtors 6 591,795 445,456
Cash at bank 1,205,725 2,636,148
1,797,520 3,081,604
CREDITORS
Amounts falling due within one year 7 (145,963 ) (107,509 )
NET CURRENT ASSETS 1,651,557 2,974,095
TOTAL ASSETS LESS CURRENT LIABILITIES 2,217,735 3,369,667

CREDITORS
Amounts falling due after more than one year 8 (55,043 ) (100,908 )
NET ASSETS 2,162,692 3,268,759

CAPITAL AND RESERVES
Called up share capital 155 155
Share premium 4,024,961 4,024,961
Retained earnings (1,862,424 ) (756,357 )
2,162,692 3,268,759

Ignite Data Limited (Registered number: 09054143)

Balance Sheet - continued
31 October 2023


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

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

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 9 February 2024 and were signed on its behalf by:




Mr R I Yeatman - Director



Mr D Hydes - Director


Ignite Data Limited (Registered number: 09054143)

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

1. STATUTORY INFORMATION

Ignite Data 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.

The accounts are prepared on a going concern basis as in the opinion of the directors the company has sufficient finance available to it to meet its obligations as they fall due for the foreseeable future, that is at least 12 months from the date of approval of the accounts.

Turnover
Turnover is recognised at the fair value of the consideration receivable for services provided in the normal course of business, and is shown net of VAT. The fair value of consideration takes into account trade discounts.

Revenue from contracts for patient recruitment and software services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

Software subscriptions turnover represents amounts receivable which are recognised in the period to which the subscriptions relate, exclusive of Value Added Tax.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of five years.

Website development is being amortised evenly over its estimated useful life of four years.

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 - 25% on cost
Motor vehicles - 25% on cost
Computer equipment - 33% on cost

Tangible fixed assets are included at cost less depreciation and impairment.

Financial instruments
Basic financial instruments are recognised at amortised cost using the effective interest method, except for investments in non-convertible preference and non-puttable preference and ordinary shares, which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value, with changes recognised in profit and loss.

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.

Ignite Data Limited (Registered number: 09054143)

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

2. ACCOUNTING POLICIES - continued

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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred except to the extent that development costs are incurred with respect to a clearly defined project where the related expenditure is clearly identifiable and the outcome of the project has been assessed with reasonable certainty. If these conditions are met, development costs are capitalised and written off over their useful life through the income statement.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 11 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 November 2022 1,006,546
Additions 379,677
At 31 October 2023 1,386,223
AMORTISATION
At 1 November 2022 621,299
Charge for year 208,416
At 31 October 2023 829,715
NET BOOK VALUE
At 31 October 2023 556,508
At 31 October 2022 385,247

Ignite Data Limited (Registered number: 09054143)

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

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 November 2022 21,730
Additions 4,034
At 31 October 2023 25,764
DEPRECIATION
At 1 November 2022 11,405
Charge for year 4,689
At 31 October 2023 16,094
NET BOOK VALUE
At 31 October 2023 9,670
At 31 October 2022 10,325

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade debtors 117,332 29,816
Amounts owed by group undertakings 8,928 -
Other debtors 465,535 415,640
591,795 445,456

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Hire purchase contracts - 559
Trade creditors 43,504 27,934
Taxation and social security 37,113 27,833
Other creditors 65,346 51,183
145,963 107,509

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.10.23 31.10.22
£    £   
Other creditors 55,043 100,908

9. SECURED DEBTS

Other creditors include borrowings totalling £100,908 (2022: £144,578), which is secured by a fixed and floating charge over the present and future assets of the company. Interest is charged on borrowings at commercial rates.

10. RELATED PARTY DISCLOSURES

IgniteData (Delaware) Incorporated owes £8,928 to Ignite Data Limited as at the period end.

Ignite Data Limited (Registered number: 09054143)

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

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is ZS Associates by virtue of their voting rights.