Acorah Software Products - Accounts Production 16.3.350 false true 31 March 2023 1 April 2022 false 1 April 2023 30 September 2024 30 September 2024 07984989 Mr Edward Birkin Mrs Julie Kaye Warmington Miss Julie Warmington (deceased) iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07984989 2023-03-31 07984989 2024-09-30 07984989 2023-04-01 2024-09-30 07984989 frs-core:CurrentFinancialInstruments 2024-09-30 07984989 frs-core:ComputerEquipment 2024-09-30 07984989 frs-core:ComputerEquipment 2023-04-01 2024-09-30 07984989 frs-core:ComputerEquipment 2023-03-31 07984989 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-04-01 2024-09-30 07984989 frs-core:FurnitureFittings 2024-09-30 07984989 frs-core:FurnitureFittings 2023-04-01 2024-09-30 07984989 frs-core:FurnitureFittings 2023-03-31 07984989 frs-core:OtherResidualIntangibleAssets 2024-09-30 07984989 frs-core:OtherResidualIntangibleAssets 2023-04-01 2024-09-30 07984989 frs-core:OtherResidualIntangibleAssets 2023-03-31 07984989 frs-core:PlantMachinery 2023-04-01 2024-09-30 07984989 frs-core:ShareCapital 2024-09-30 07984989 frs-core:RetainedEarningsAccumulatedLosses 2024-09-30 07984989 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-09-30 07984989 frs-bus:FilletedAccounts 2023-04-01 2024-09-30 07984989 frs-bus:SmallEntities 2023-04-01 2024-09-30 07984989 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-09-30 07984989 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-09-30 07984989 frs-bus:Director1 2023-04-01 2024-09-30 07984989 frs-bus:Director2 2023-04-01 2024-09-30 07984989 frs-bus:CompanySecretary1 2023-04-01 2024-09-30 07984989 frs-countries:EnglandWales 2023-04-01 2024-09-30 07984989 2022-03-31 07984989 2023-03-31 07984989 2022-04-01 2023-03-31 07984989 frs-core:CurrentFinancialInstruments 2023-03-31 07984989 frs-core:ShareCapital 2023-03-31 07984989 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 07984989
Ignite V1 LTD
Unaudited Financial Statements
For the Period 1 April 2023 to 30 September 2024
GC Accountancy Management Service Ltd
Howes Farm Office
Doddinghurst Road Pilgrims Hatch
Brentwood
Essex
CM15 0SG
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07984989
30 September 2024 31 March 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 9,000 12,844
Tangible Assets 5 5,431 614
14,431 13,458
CURRENT ASSETS
Debtors 6 25,206 11,461
Cash at bank and in hand 32,950 265,082
58,156 276,543
Creditors: Amounts Falling Due Within One Year 7 (56,746 ) (84,817 )
NET CURRENT ASSETS (LIABILITIES) 1,410 191,726
TOTAL ASSETS LESS CURRENT LIABILITIES 15,841 205,184
NET ASSETS 15,841 205,184
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 15,741 205,084
SHAREHOLDERS' FUNDS 15,841 205,184
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For the period ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Edward Birkin
Director
02/09/2024
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Ignite V1 LTD is a private company, limited by shares, incorporated in England & Wales, registered number 07984989 . The registered office is Howes Farm Office Doddinghurst Road, Pilgrims Hatch, Brentwood, Essex, CM15 0SG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are artwork which is not expected to reduce in value and as such no amortisation shall be charged.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 15% Reducing Balance
Fixtures & Fittings 25% Straight Line
Computer Equipment 33% Straight Line
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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3. Average Number of Employees
Average number of employees, including directors, during the period was:
30 September 2024 31 March 2023
Office and administration 1 1
Sales, marketing and distribution 1 1
2 2
4. Intangible Assets
Other
£
Cost
As at 1 April 2023 13,900
As at 30 September 2024 13,900
Amortisation
As at 1 April 2023 1,056
Provided during the period 844
Impairment losses 3,000
As at 30 September 2024 4,900
Net Book Value
As at 30 September 2024 9,000
As at 1 April 2023 12,844
5. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 April 2023 1,261 7,383 8,644
Additions - 7,282 7,282
As at 30 September 2024 1,261 14,665 15,926
Depreciation
As at 1 April 2023 1,262 6,768 8,030
Provided during the period - 2,465 2,465
As at 30 September 2024 1,262 9,233 10,495
Net Book Value
As at 30 September 2024 (1 ) 5,432 5,431
As at 1 April 2023 (1 ) 615 614
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6. Debtors
30 September 2024 31 March 2023
£ £
Due within one year
Trade debtors - 10,667
Prepayments and accrued income 1,206 794
Amounts owed by group undertakings 24,000 -
25,206 11,461
7. Creditors: Amounts Falling Due Within One Year
30 September 2024 31 March 2023
£ £
Trade creditors 358 1,101
Other loans (4,833 ) -
Corporation tax 23,039 31,873
Other taxes and social security 1,876 2,508
VAT 4,711 11,021
Accruals and deferred income 600 600
Directors' loan accounts 30,995 37,714
56,746 84,817
8. Share Capital
30 September 2024 31 March 2023
£ £
Allotted, Called up and fully paid 100 100
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