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REGISTERED NUMBER: 12578325 (England and Wales)














ABRIDGED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

IGNITE FITNESS GROUP LTD

IGNITE FITNESS GROUP LTD (REGISTERED NUMBER: 12578325)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024










Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


IGNITE FITNESS GROUP LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTORS: Mr Antonis Sophocli
Mrs Sophoulla Sophocli
Mr Andreas Charalambous





REGISTERED OFFICE: c/o Michael Filiou Ltd
Salisbury House
81 High Street
Potters Bar
Hertfordshire
EN6 5AS





REGISTERED NUMBER: 12578325 (England and Wales)





ACCOUNTANTS: Michael Filiou Ltd
Chartered Certified Accountants
www.michaelfiliou.com
Salisbury House
81 High Street
Potters Bar
Hertfordshire
EN6 5AS

IGNITE FITNESS GROUP LTD (REGISTERED NUMBER: 12578325)

ABRIDGED STATEMENT OF FINANCIAL POSITION
30 SEPTEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 41,037 68,612

CURRENT ASSETS
Stocks 481 495
Debtors 16,434 5,179
Cash at bank 5,113 2,902
22,028 8,576
CREDITORS
Amounts falling due within one year 442,600 360,067
NET CURRENT LIABILITIES (420,572 ) (351,491 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(379,535

)

(282,879

)

CREDITORS
Amounts falling due after more than one year (2,367 ) (26,020 )

PROVISIONS FOR LIABILITIES 5 (10,259 ) (13,036 )
NET LIABILITIES (392,161 ) (321,935 )

CAPITAL AND RESERVES
Called up share capital 6 3,000 3,000
Retained earnings (395,161 ) (324,935 )
SHAREHOLDERS' FUNDS (392,161 ) (321,935 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 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.

IGNITE FITNESS GROUP LTD (REGISTERED NUMBER: 12578325)

ABRIDGED STATEMENT OF FINANCIAL POSITION - continued
30 SEPTEMBER 2024


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

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 30 September 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 26 March 2025 and were signed on its behalf by:





Mr Antonis Sophocli - Director


IGNITE FITNESS GROUP LTD (REGISTERED NUMBER: 12578325)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024


1. STATUTORY INFORMATION

Ignite Fitness Group Ltd 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.
Plant and machinery - 20% straight line
Fixtures and fittings - 20% straight line
Computer equipment - 20% straight line

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

IGNITE FITNESS GROUP LTD (REGISTERED NUMBER: 12578325)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 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 year was 17 (2023 - 16 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 October 2023 149,112
Additions 2,533
At 30 September 2024 151,645
DEPRECIATION
At 1 October 2023 80,500
Charge for year 30,108
At 30 September 2024 110,608
NET BOOK VALUE
At 30 September 2024 41,037
At 30 September 2023 68,612

5. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 10,259 13,036

Deferred
tax
£   
Balance at 1 October 2023 13,036
Provided during year (2,777 )
Balance at 30 September 2024 10,259

IGNITE FITNESS GROUP LTD (REGISTERED NUMBER: 12578325)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
3,000 Ordinary £1 3,000 3,000

7. RELATED PARTY DISCLOSURES

Fresco Fisheries (UK) Limited
At the year end the company owed Fresco Fisheries (UK) Limited £293,973 (2022 - £221,973). During the year, Fresco Fisheries (UK) Limited charged the company market rate rent of £72,000 (2023 - £72,000).

Fresco Fisheries (UK) Limited owns 100% of the issued share capital of the company.

Agent X Ltd
At the year end the company owed Agent X Ltd £54,526 (2023 - £77,226). During the year, the company received loans from Agent X Ltd totalling £133,800 and repaid £156,500.

Agent X Ltd is a company in which Mr A Sophocli and Mrs S Sophocli own 100% of the issued share capital.

8. ULTIMATE CONTROLLING PARTY

The controlling party is Fresco Fisheries (UK) Limited.

Fresco Fisheries (UK) Limited is considered the controlling party by virtue of the fact it owns 100% of the issued share capital.