REGISTERED NUMBER: 06028299 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

IGNITION DG LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

C E Menzies

S L Rowe

P G Atherton

SECRETARY:

P G Atherton

REGISTERED OFFICE:

Unit 1.1

Paintworks

Bath Road

Bristol

BS4 3EH

REGISTERED NUMBER:

06028299 (England and Wales)

ACCOUNTANTS:

Lawes & Co

Boyce's Building

40-42 Regent Street

Clifton

Bristol

BS8 4HU

FIXED ASSETS

Tangible assets

4

81,363

90,727

CURRENT ASSETS

Stocks

-

37,246

Debtors

5

2,657,465

2,378,623

Cash at bank and in hand

141,020

94,752

2,798,485

2,510,621

CREDITORS

Amounts falling due within one year

6

2,226,430

1,838,180

NET CURRENT ASSETS

572,055

672,441

TOTAL ASSETS LESS CURRENT LIABILITIES

653,418

763,168

CREDITORS

Amounts falling due after more than one year

7

149,386

314,190

NET ASSETS

504,032

448,978

CAPITAL AND RESERVES

Called up share capital

11

1,000

1,000

Retained earnings

503,032

447,978

SHAREHOLDERS' FUNDS

504,032

448,978

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

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 3 September 2025 and were signed on its behalf by:

S L Rowe - Director

1.	STATUTORY INFORMATION

Ignition DG 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.

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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business has been fully amortised in the current year.

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to property

-

at varying rates on cost

Plant and machinery

-

20% on cost

Fixtures and fittings

-

25% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

50% on cost

Stocks and work in progress

Work in progress is valued at the lower of direct cost expenditure and net realisable value.

Profit on projects included in work in progress is only recognised once their outcome can be assessed with reasonable certainty. Such profit reflects the proportion of work on the project completed to date. Full provision is made for any losses on projects in the year in which the loss is foreseen.

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 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 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.

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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Functional currency

The functional currency of the company is GBP.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 34 (2023 - 27 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 January 2024

43,224

34,347

6,515

Additions

-

-

1,651

Disposals

-

-

(3,967

)

At 31 December 2024

43,224

34,347

4,199

DEPRECIATION

At 1 January 2024

43,224

8,584

2,487

Charge for year

-

5,240

2,797

Eliminated on disposal

-

-

(2,644

)

At 31 December 2024

43,224

13,824

2,640

NET BOOK VALUE

At 31 December 2024

-

20,523

1,559

At 31 December 2023

-

25,763

4,028

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 January 2024

19,995

73,914

177,995

Additions

-

73,867

75,518

Disposals

-

(10,693

)

(14,660

)

At 31 December 2024

19,995

137,088

238,853

DEPRECIATION

At 1 January 2024

19,995

12,978

87,268

Charge for year

-

70,902

78,939

Eliminated on disposal

-

(6,073

)

(8,717

)

At 31 December 2024

19,995

77,807

157,490

NET BOOK VALUE

At 31 December 2024

-

59,281

81,363

At 31 December 2023

-

60,936

90,727

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

£

COST

At 1 January 2024

and 31 December 2024

26,200

DEPRECIATION

At 1 January 2024

437

Charge for year

5,240

At 31 December 2024

5,677

NET BOOK VALUE

At 31 December 2024

20,523

At 31 December 2023

25,763

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

1,481,105

1,022,949

Other debtors

1,176,360

1,355,674

2,657,465

2,378,623

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

160,000

277,032

Hire purchase contracts (see note 8)

4,804

4,412

Trade creditors

155,019

667,195

Taxation and social security

88,188

44,741

Other creditors

1,818,419

844,800

2,226,430

1,838,180

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans

133,334

293,334

Hire purchase contracts (see note 8)

16,052

20,856

149,386

314,190

8.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

31.12.24

31.12.23

£

£

Net obligations repayable:

Within one year

4,804

4,412

Between one and five years

16,052

20,856

20,856

25,268

Non-cancellable

operating leases

31.12.24

31.12.23

£

£

Within one year

17,742

106,449

Between one and five years

-

17,742

17,742

124,191

9.	SECURED DEBTS

The company's bankers hold fixed and floating charges over the company's assets.

10.	DEFERRED TAX

£

Balance at 1 January 2024

(140,010

)

Accelerated capital allowances

16,335

Tax on losses

(1,342

)

Balance at 31 December 2024

(125,017

)

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

£

900

Ordinary A

£1.00

900

900

100

Ordinary B

£1.00

100

100

1,000

1,000

12.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2024 and 31 December 2023:

31.12.24

31.12.23

£

£

S L Rowe

Balance outstanding at start of year

-

-

Amounts advanced

23,000

-

Amounts repaid

(13,000

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

10,000

-

P G Atherton

Balance outstanding at start of year

-

-

Amounts advanced

63

-

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

63

-

13.	RELATED PARTY DISCLOSURES

During the year, the company was invoiced £320,147 (2023: £Nil) by Phoenix Wharf Design

Limited, an associated company up until 12 November 2024, including £93,287 (2023: £Nil) for services provided. At the balance sheet date, the company was owed £283 (2023: £104,198) by Phoenix Wharf Design Limited.

At the balance sheet date, the company was owed £3,048 (2023: £415,956) by Solverlink Limited, a company under common control.

At the balance sheet date, the company was owed £798,647 (2023: £462,051) by The Istoria Group Limited Limited, an associated company.

At the balance sheet date, the company was owed £111,950 (2023: £Nil) by Ignition DG Inc, an associated company.

At the balance sheet date, the company owed £55,000 (2023: 120,000) to one of the directors.

14.	ULTIMATE CONTROLLING PARTY

During the year the company was under the ultimate control of C E Menzies by virtue of a majority shareholding.

15.	ULTIMATE PARENT COMPANY

The Istoria Group Limited is regarded by the directors as being the company's ultimate parent company. The Istoria Group Limited's registered office is the same as the company.