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REGISTERED NUMBER: 11464895 (England and Wales)

IGNEOUS LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 MARCH 2025

| IGNEOUS LIMITED (REGISTERED NUMBER: 11464895) |

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Page |

| Company Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 3 |

| IGNEOUS LIMITED |

COMPANY INFORMATION

FOR THE YEAR ENDED 31 MARCH 2025

| DIRECTORS: | P F Maggs

| M R Stevens

| P Hughes

| K Burgess

| D Hayhoe

| REGISTERED OFFICE: | 5 Village Way

| Tongwynlais

| Cardiff

| CF15 7NE

| REGISTERED NUMBER: | 11464895 (England and Wales)

| SENIOR STATUTORY AUDITOR: | Henry Lloyd Davies

| AUDITORS: | Bevan Buckland LLP (Statutory Auditors)

| Ground Floor Cardigan House

| Castle Court

| Swansea Enterprise Park

| Swansea

| SA7 9LA

| IGNEOUS LIMITED (REGISTERED NUMBER: 11464895) |

BALANCE SHEET

31 MARCH 2025

| 2025 |  | 2024

| Notes | £ | £ |

CURRENT ASSETS

Debtors | 4 | 15,023 |  | 125,756 |  |

Cash at bank and in hand | 103,249 |  | 504,520 |  |

118,272 |  | 630,276 |  |

CREDITORS

Amounts falling due within one year | 5 | 86,136 |  | 294,620 |  |

NET CURRENT ASSETS | 32,136 |  | 335,656 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 32,136 |  | 335,656 |  |

CAPITAL AND RESERVES

Called up share capital | 1 |  | 1 |  |

Retained earnings | 32,135 |  | 335,655 |  |

32,136 |  | 335,656 |  |

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 August 2025 and were signed on its behalf by:

P F Maggs - Director

| IGNEOUS LIMITED (REGISTERED NUMBER: 11464895) |

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1. | STATUTORY INFORMATION

| Igneous 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.

| Going Concern

| The financial statements have been prepared on a going concern basis.

| Igneous was established to carry out development of properties for open market sale. At the end of March 2024 they had completed their first scheme and all units were now sold. All loans relating to the property development have been repaid and the remaining profits (allowing for a small sum of reserves) will be gift aided to the parent, Cadwyn Housing Association.

| Over the next 12 months the company will remain dormant until another scheme is acquired, with the only ongoing activity being the property management required on behalf of the leaseholders. The Company continues to adopt the going concern basis in preparing its financial statements. The directors have been given assurances from the board of the parent Association that their financial support will continue, if required.

| 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.

| Turnover

| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

| Turnover consists of the proceeds of property sales and related income which are recognised at the point of exchange of contract.

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

| The Board have determined that all taxable profits will be donated to the parent charity Cadwyn as Gift Aid.

| 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.

| IGNEOUS LIMITED (REGISTERED NUMBER: 11464895) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2025

2. | ACCOUNTING POLICIES - continued

| Cash at bank and cash in hand

| Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

| Debtors

| Short term debtors are measured at transaction price, less any impairment.

| Creditors

| Short term creditors are measured at transaction price.

| Provision for liabilities

| Provisions are recognised when the company has a present obligation (legal and constructive) from a past event that will probably result in a transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably.

| 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 balance sheet 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 unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. 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, 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.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was NIL (2024 - NIL).

4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Trade debtors | - |  | 298 |  |

| Other debtors | 15,023 |  | 125,458 |  |

15,023 |  | 125,756 |  |

| IGNEOUS LIMITED (REGISTERED NUMBER: 11464895) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2025

5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Trade creditors | 789 |  | 2,890 |  |

| Amounts owed to group undertakings | 20,780 |  | 1,761 |  |

| Taxation and social security | - |  | 4,691 |  |

| Other creditors | 64,567 |  | 285,278 |  |

86,136 |  | 294,620 |  |

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

| The Report of the Auditors was unqualified.

| Henry Lloyd Davies (Senior Statutory Auditor)

| for and on behalf of Bevan Buckland LLP (Statutory Auditors)

7. | ULTIMATE CONTROLLING PARTY

| The controlling party is Cardarn Housing Group Limited.