Ignite Performance Limited - Period Ending 2014-09-30

Registration number: 08209500

 

Ignite Performance Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 September 2014
 

Ignite Performance Limited
Contents

Page

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 4

Ignite Performance Limited
balance sheet as at 30 September 2014

		Note			30 September 2014 £			30 September 2013 £
Fixed assets
Tangible fixed assets					27,870			33,450
Current assets
Debtors					113			110
Cash at bank and in hand					3,390			805
					3,503			915
Creditors: Amounts falling due within one year					(23,818)			(26,618)
Net current liabilities					(20,315)			(25,703)
Total assets less current liabilities					7,555			7,747
Creditors: Amounts falling due after more than one year					(22,850)			(20,350)
Total net liabilities					(15,295)			(12,603)
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					(15,395)			(12,703)
Shareholders' deficit					(15,295)			(12,603)

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 1

Ignite Performance Limited
balance sheet as at 30 September 2014
......... continued

For the year ending 30 September 2014 the company was entitled to exemption 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 in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 12 March 2015 and signed on its behalf by:

.........................................
Mr K Davies
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Ignite Performance Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 2014
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Going concern

At the balance sheet date, the company had net current liabilities of £20,315 and current liabilities of £15,295. However, included in creditors are directors loans of £22,850, which the directors have indicated will not be withdrawn until sufficient funds are available to do so. Also, the directors anticipate the company will trade at a profit in 2015 and on this basis, the directors believe that it is appropriate to prepare the financial statements on a going concern basis.

Turnover

Turnover represents amounts chargeable in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Asset class	Depreciation method and rate
Short leasehold land and buildings	10 years
Fixtures,fittings and equipment	20% on reducing balance

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 October 2013		40,077			40,077
At 30 September 2014		40,077			40,077
Depreciation
At 1 October 2013		6,627			6,627
Charge for the year		5,580			5,580
At 30 September 2014		12,207			12,207
Net book value
At 30 September 2014		27,870			27,870
At 30 September 2013		33,450			33,450

Page 3

Ignite Performance Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 2014
......... continued

3	Share capital

Allotted, called up and fully paid shares

	30 September 2014						30 September 2013
		No.			£			No.			£
Ordinary shares of £1 each		100			100			100			100

Page 4