Company registration number 08892407 (England and Wales)
VOX IGNIS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024
PAGES FOR FILING WITH REGISTRAR
VOX IGNIS LIMITED
CONTENTS
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 7
VOX IGNIS LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
28 FEBRUARY 2024
28 February 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
23,260
13,678
Current assets
Stocks
287,548
241,920
Debtors
4
259,571
319,185
Cash at bank and in hand
630,580
523,856
1,177,699
1,084,961
Creditors: amounts falling due within one year
5
(151,375)
(160,770)
Net current assets
1,026,324
924,191
Total assets less current liabilities
1,049,584
937,869
Creditors: amounts falling due after more than one year
6
(25,000)
(25,000)
Net assets
1,024,584
912,869
Capital and reserves
Called up share capital
1,875
1,875
Profit and loss reserves
1,022,709
910,994
Total equity
1,024,584
912,869

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 28 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

VOX IGNIS LIMITED
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT
28 FEBRUARY 2024
28 February 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 8 November 2024 and are signed on its behalf by:
A C Smith
Director
Company Registration No. 08892407
VOX IGNIS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024
- 3 -
1
Accounting policies
Company information

Vox Ignis Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 27, North East Business Innovation Centre, Wearfield, Sunderland, SR5 2TA.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery
15% straight line
Fixtures and fittings
15% straight line
Office equipment
25% straight line
R&D equipment
15% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

VOX IGNIS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2024
1
Accounting policies
(Continued)
- 4 -
1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

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.Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

VOX IGNIS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2024
1
Accounting policies
(Continued)
- 5 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.9
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.10
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
13
11
VOX IGNIS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2024
- 6 -
3
Tangible fixed assets
Plant and machinery
Fixtures and fittings
Office equipment
R&D equipment
Total
£
£
£
£
£
Cost
At 1 March 2023
1,869
5,035
12,197
24,877
43,978
Additions
1,611
350
12,545
-
0
14,506
At 28 February 2024
3,480
5,385
24,742
24,877
58,484
Depreciation and impairment
At 1 March 2023
687
3,079
10,251
16,283
30,300
Depreciation charged in the year
363
648
1,790
2,123
4,924
At 28 February 2024
1,050
3,727
12,041
18,406
35,224
Carrying amount
At 28 February 2024
2,430
1,658
12,701
6,471
23,260
At 28 February 2023
1,182
1,956
1,946
8,594
13,678
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
217,328
236,293
Prepayments and accrued income
642
4,053
217,970
240,346
Deferred tax asset (note )
41,601
78,839
259,571
319,185
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
76,754
56,167
Taxation and social security
28,523
33,788
Other creditors
42,134
67,818
Accruals and deferred income
3,964
2,997
151,375
160,770
VOX IGNIS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2024
- 7 -
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
25,000
25,000
2024-02-282023-03-01false08 November 2024CCH SoftwareCCH Accounts Production 2024.210No description of principal activityA C SmithM BurnsA W M DavisonJ P KirkupS Bowlesfalsefalse088924072023-03-012024-02-28088924072024-02-28088924072023-02-2808892407core:PlantMachinery2024-02-2808892407core:FurnitureFittings2024-02-2808892407core:ComputerEquipment2024-02-2808892407core:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2024-02-2808892407core:PlantMachinery2023-02-2808892407core:FurnitureFittings2023-02-2808892407core:ComputerEquipment2023-02-2808892407core:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2023-02-2808892407core:CurrentFinancialInstrumentscore:WithinOneYear2024-02-2808892407core:CurrentFinancialInstrumentscore:WithinOneYear2023-02-2808892407core:Non-currentFinancialInstrumentscore:AfterOneYear2024-02-2808892407core:Non-currentFinancialInstrumentscore:AfterOneYear2023-02-2808892407core:CurrentFinancialInstruments2024-02-2808892407core:CurrentFinancialInstruments2023-02-2808892407core:ShareCapital2024-02-2808892407core:ShareCapital2023-02-2808892407core:RetainedEarningsAccumulatedLosses2024-02-2808892407core:RetainedEarningsAccumulatedLosses2023-02-2808892407bus:Director12023-03-012024-02-2808892407core:PlantMachinery2023-03-012024-02-2808892407core:FurnitureFittings2023-03-012024-02-2808892407core:ComputerEquipment2023-03-012024-02-2808892407core:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2023-03-012024-02-28088924072022-03-012023-02-2808892407core:PlantMachinery2023-02-2808892407core:FurnitureFittings2023-02-2808892407core:ComputerEquipment2023-02-2808892407core:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2023-02-28088924072023-02-2808892407core:Non-currentFinancialInstruments12024-02-2808892407core:Non-currentFinancialInstruments12023-02-2808892407bus:PrivateLimitedCompanyLtd2023-03-012024-02-2808892407bus:SmallCompaniesRegimeForAccounts2023-03-012024-02-2808892407bus:FRS1022023-03-012024-02-2808892407bus:AuditExemptWithAccountantsReport2023-03-012024-02-2808892407bus:Director22023-03-012024-02-2808892407bus:Director32023-03-012024-02-2808892407bus:Director42023-03-012024-02-2808892407bus:Director52023-03-012024-02-2808892407bus:FullAccounts2023-03-012024-02-28xbrli:purexbrli:sharesiso4217:GBP