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REGISTERED NUMBER: 08510071 (England and Wales)


















FINANCIAL STATEMENTS

FOR THE PERIOD

1 MAY 2023 TO 31 JANUARY 2024

FOR

IGNITION COLLECTIVE LIMITED

IGNITION COLLECTIVE LIMITED (REGISTERED NUMBER: 08510071)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 MAY 2023 TO 31 JANUARY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


IGNITION COLLECTIVE LIMITED

COMPANY INFORMATION
FOR THE PERIOD 1 MAY 2023 TO 31 JANUARY 2024







DIRECTOR: C Russell





REGISTERED OFFICE: The Granary Greatworth Hall
Greatworth
Banbury
OX17 2DH





REGISTERED NUMBER: 08510071 (England and Wales)





ACCOUNTANTS: TGFP
Chartered Accountants
Fulford House
Newbold Terrace
Leamington Spa
Warwickshire
CV32 4EA

IGNITION COLLECTIVE LIMITED (REGISTERED NUMBER: 08510071)

BALANCE SHEET
31 JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 67,603 55,886

CURRENT ASSETS
Debtors 5 1,074,151 173,872
Cash at bank 321,218 363,185
1,395,369 537,057
CREDITORS
Amounts falling due within one year 6 481,338 88,860
NET CURRENT ASSETS 914,031 448,197
TOTAL ASSETS LESS CURRENT
LIABILITIES

981,634

504,083

PROVISIONS FOR LIABILITIES 8,868 5,557
NET ASSETS 972,766 498,526

CAPITAL AND RESERVES
Called up and paid share capital 200 200
Retained earnings 972,566 498,326
972,766 498,526

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 COLLECTIVE LIMITED (REGISTERED NUMBER: 08510071)

BALANCE SHEET - continued
31 JANUARY 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 7 October 2024 and were signed by:





C Russell - Director


IGNITION COLLECTIVE LIMITED (REGISTERED NUMBER: 08510071)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 MAY 2023 TO 31 JANUARY 2024


1. STATUTORY INFORMATION

Ignition Collective 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.

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.
Plant and machinery etc - 33% on cost, 25% on cost and 10% on cost

Financial instruments
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 period 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.

IGNITION COLLECTIVE LIMITED (REGISTERED NUMBER: 08510071)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 MAY 2023 TO 31 JANUARY 2024


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 period was 15 (2023 - 8 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 May 2023 91,534
Additions 25,342
At 31 January 2024 116,876
DEPRECIATION
At 1 May 2023 35,648
Charge for period 13,625
At 31 January 2024 49,273
NET BOOK VALUE
At 31 January 2024 67,603
At 30 April 2023 55,886

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,060,015 114,888
Other debtors 14,136 58,984
1,074,151 173,872

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 96,300 21,934
Taxation and social security 206,385 45,498
Other creditors 178,653 21,428
481,338 88,860