REGISTERED NUMBER: |
Unaudited Financial Statements For The Year Ended 31st May 2023 |
for |
Ignite Events Ltd |
REGISTERED NUMBER: |
Unaudited Financial Statements For The Year Ended 31st May 2023 |
for |
Ignite Events Ltd |
Ignite Events Ltd (Registered number: 09052863) |
Contents of the Financial Statements |
For The Year Ended 31st May 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Ignite Events Ltd |
Company Information |
For The Year Ended 31st May 2023 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
1st Floor |
5 Century Court |
Tolpits Lane |
Watford |
Hertfordshire |
WD18 9PX |
Ignite Events Ltd (Registered number: 09052863) |
Balance Sheet |
31st May 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Property, plant and equipment | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Revaluation reserve | 7 |
Retained earnings |
The director acknowledges his 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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
Ignite Events Ltd (Registered number: 09052863) |
Notes to the Financial Statements |
For The Year Ended 31st May 2023 |
1. | STATUTORY INFORMATION |
Ignite Events Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Revenue 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 ts estimated useful life. |
Plant and machinery - 25% on cost |
Fixtures and fittings - 25% on cost |
Computer equipment - straight line over 3 years |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
Ignite Events Ltd (Registered number: 09052863) |
Notes to the Financial Statements - continued |
For The Year Ended 31st May 2023 |
4. | PROPERTY, PLANT AND EQUIPMENT |
Plant and |
machinery |
etc |
£ |
COST OR VALUATION |
At 1st June 2022 |
Additions |
Disposals | ( |
) |
Revaluations |
At 31st May 2023 |
DEPRECIATION |
At 1st June 2022 |
Charge for year |
Eliminated on disposal | ( |
) |
At 31st May 2023 |
NET BOOK VALUE |
At 31st May 2023 |
At 31st May 2022 |
Cost or valuation at 31st May 2023 is represented by: |
Plant and |
machinery |
etc |
£ |
Valuation in 2017 | 87,628 |
Valuation in 2019 | 50,134 |
Valuation in 2020 | 202,940 |
Valuation in 2022 | 7,919 |
Valuation in 2023 | (232 | ) |
Cost | 308,061 |
656,450 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Amounts owed by participating interests | 388,890 | 387,240 |
Other debtors |
Ignite Events Ltd (Registered number: 09052863) |
Notes to the Financial Statements - continued |
For The Year Ended 31st May 2023 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
7. | RESERVES |
Revaluation |
reserve |
£ |
At 1st June 2022 |
Movement in the year | 41,563 |
At 31st May 2023 |
8. | RELATED PARTY DISCLOSURES |
As at the balance sheet date, the company had a balance of £388,889.58 (£387,240.47 in 2022) due from Group companies. |
9. | ULTIMATE CONTROLLING PARTY |
The company is controlled by Mr. Sanjeev Desour by virtue of his shareholdings. |
10. | PARENT COMPANY |
The entire issued share capital of the company is owned by Ignite Enterprises Ltd (Company No. 08504327) and it is a wholly owned subsidiary. |