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REGISTERED NUMBER: 09054143 (England and Wales)















Financial Statements

for the Period 1 November 2023 to 31 December 2024

for

Ignite Data Limited

Ignite Data Limited (Registered number: 09054143)






Contents of the Financial Statements
for the Period 1 November 2023 to 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Ignite Data Limited

Company Information
for the Period 1 November 2023 to 31 December 2024







DIRECTORS: Mr D Hydes
Mr R I Yeatman
Mr G Webster



REGISTERED OFFICE: c/o Wilson Partners Limited,
TOR
Saint-Cloud Way
Maidenhead
Berkshire
SL6 8BN



REGISTERED NUMBER: 09054143 (England and Wales)



SENIOR STATUTORY AUDITOR: Philippa Duckworth BSc FCCA



AUDITORS: WP Audit Limited
Statutory Auditors
TOR
Saint-Cloud Way
Maidenhead
Berkshire
SL6 8BN

Ignite Data Limited (Registered number: 09054143)

Balance Sheet
31 December 2024

31.12.24 31.10.23
Notes £    £   
FIXED ASSETS
Intangible assets 5 517,654 556,508
Tangible assets 6 17,533 9,670
535,187 566,178

CURRENT ASSETS
Debtors 7 2,172,928 591,795
Cash at bank 158,014 1,205,725
2,330,942 1,797,520
CREDITORS
Amounts falling due within one year 8 (1,880,908 ) (145,963 )
NET CURRENT ASSETS 450,034 1,651,557
TOTAL ASSETS LESS CURRENT LIABILITIES 985,221 2,217,735

CREDITORS
Amounts falling due after more than one year 9 (815,008 ) (55,043 )

PROVISIONS FOR LIABILITIES (128,596 ) -
NET ASSETS 41,617 2,162,692

CAPITAL AND RESERVES
Called up share capital 155 155
Share premium 4,024,961 4,024,961
Retained earnings (3,983,499 ) (1,862,424 )
41,617 2,162,692

Ignite Data Limited (Registered number: 09054143)

Balance Sheet - continued
31 December 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 June 2025 and were signed on its behalf by:




Mr R I Yeatman - Director



Mr D Hydes - Director


Ignite Data Limited (Registered number: 09054143)

Notes to the Financial Statements
for the Period 1 November 2023 to 31 December 2024

1. STATUTORY INFORMATION

Ignite Data 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.

The accounts are prepared on a going concern basis as in the opinion of the directors the company has sufficient finance available to it to meet its obligations as they fall due for the foreseeable future, that is at least 12 months from the date of approval of the accounts.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Significant judgements and estimates
In the application of the company's accounting policies the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The company does not make significant estimates and assumptions concerning the future.

Turnover
Turnover is recognised at the fair value of the consideration receivable for services provided in the normal course of business, and is shown net of VAT. The fair value of consideration takes into account trade discounts.

Revenue from contracts for patient recruitment and software services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

Software subscriptions turnover represents amounts receivable which are recognised in the period to which the subscriptions relate, exclusive of Value Added Tax.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of three years.

Website development is being amortised evenly over its estimated useful life of four years.

Ignite Data Limited (Registered number: 09054143)

Notes to the Financial Statements - continued
for the Period 1 November 2023 to 31 December 2024

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on cost
Computer equipment - 33% on cost

Tangible fixed assets are included at cost less depreciation and impairment.

Ignite Data Limited (Registered number: 09054143)

Notes to the Financial Statements - continued
for the Period 1 November 2023 to 31 December 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the instrument. 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.

(i) Financial assets and liabilities
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Debt instruments which meet the following conditions are subsequently measured at amortised cost using the effective interest method:
(a) The contractual return to the holder is (i) a fixed amount; (ii) a positive fixed rate or a positive variable rate; or (iii) a combination of a positive or a negative fixed rate and a positive variable rate.
(b) The contract may provide for repayments of the principal or the return to the holder (but not both) to be linked to a single relevant observable index of general price inflation of the currency in which the debt instrument is denominated, provided such links are not leveraged.
(c) The contract may provide for a determinable variation of the return to the holder during the life of the instrument, provided that (i) the new rate satisfies condition (a) and the variation is not contingent on future events other than (1) a change of a contractual variable rate; (2) to protect the holder against credit deterioration of the issuer; (3) changes in levies applied by a central bank or arising from changes in relevant taxation or law; or (ii) the new rate is a market rate of interest and satisfies condition (a).
(d) There is no contractual provision that could, by its terms, result in the holder losing the principal amount or any interest attributable to the current period or prior periods.
(e) Contractual provisions that permit the issuer to prepay a debt instrument or permit the holder to put it back to the issuer before maturity are not contingent on future events, other than to protect the holder against the credit deterioration of the issuer or a change in control of the issuer, or to protect the holder or issuer against changes in levies applied by a central bank or arising from changes in relevant taxation or law.
(f) Contractual provisions may permit the extension of the term of the debt instrument, provided that the return to the holder and any other contractual provisions applicable during the extended term satisfy the conditions of paragraphs (a) to (c).

Debt instruments that are classified as payable or receivable within one year on initial recognition and which meet the above conditions are measured at the undiscounted amount of the cash or other consideration expected to be paid or received, net of impairment. With the exception of some hedging instruments, other debt instruments not meeting these conditions are measured at fair value through profit or loss. Commitments to make and receive loans which meet the conditions mentioned above are measured at cost (which may be nil) less impairment.

Financial assets are derecognised when and only when (a) the contractual rights to the cash flows from the financial asset expire or are settled, (b) the company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or (c) the company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party. Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.

(ii) Investments
Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through profit or loss. Where fair value cannot be measured reliably, investments are measured at cost less impairment.
In the company balance sheet, investments in subsidiaries and associates are measured at cost less impairment. For investments in subsidiaries acquired for consideration including the issue of shares qualifying for merger relief, cost is measured by reference to the nominal value of the shares issued plus fair value of other consideration. Any premium is ignored.


Ignite Data Limited (Registered number: 09054143)

Notes to the Financial Statements - continued
for the Period 1 November 2023 to 31 December 2024

2. ACCOUNTING POLICIES - continued
(iii) Equity instruments
Equity instruments issued by the company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs.

Taxation
Taxation for the period 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 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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred except to the extent that development costs are incurred with respect to a clearly defined project where the related expenditure is clearly identifiable and the outcome of the project has been assessed with reasonable certainty. If these conditions are met, development costs are capitalised and written off over their useful life through the income statement.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

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 12 (2023 - 11 ) .

4. AUDITORS' REMUNERATION
Period
1.11.23
to Year Ended
31.12.24 31.10.23
£    £   
Fees payable to the company's auditors for the audit of the company's financial
statements

15,000

-

Ignite Data Limited (Registered number: 09054143)

Notes to the Financial Statements - continued
for the Period 1 November 2023 to 31 December 2024

5. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 November 2023 1,386,223
Additions 353,884
At 31 December 2024 1,740,107
AMORTISATION
At 1 November 2023 829,715
Charge for period 392,738
At 31 December 2024 1,222,453
NET BOOK VALUE
At 31 December 2024 517,654
At 31 October 2023 556,508

6. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 November 2023 25,764
Additions 13,092
At 31 December 2024 38,856
DEPRECIATION
At 1 November 2023 16,094
Charge for period 5,229
At 31 December 2024 21,323
NET BOOK VALUE
At 31 December 2024 17,533
At 31 October 2023 9,670

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.10.23
£    £   
Trade debtors 1,895,101 117,332
Amounts owed by group undertakings - 8,928
Other debtors 277,827 465,535
2,172,928 591,795

Ignite Data Limited (Registered number: 09054143)

Notes to the Financial Statements - continued
for the Period 1 November 2023 to 31 December 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.10.23
£    £   
Trade creditors 17,376 43,504
Amounts owed to group undertakings 102,459 -
Taxation and social security 8,240 37,113
Other creditors 1,752,833 65,346
1,880,908 145,963

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.24 31.10.23
£    £   
Other creditors 815,008 55,043

10. SECURED DEBTS

Other creditors include borrowings totalling £780,582 (2023: £100,908), which is secured by a fixed and floating charge over the present and future assets of the company. Interest is charged on borrowings at commercial rates.

11. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Philippa Duckworth BSc FCCA (Senior Statutory Auditor)
for and on behalf of WP Audit Limited

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is IgniteData(Delaware) Inc.