Abbreviated Company Accounts - DRB IGNITE LIMITED

DRB IGNITE LIMITED - Company Information

Registered Number 07163935

DRB IGNITE LIMITED

Abbreviated Accounts

31 March 2014

DRB IGNITE LIMITED Registered Number 07163935

Abbreviated Balance Sheet as at 31 March 2014

	Notes	2014	2013
		£	£
Fixed assets
Intangible assets	2	157,312	-
Tangible assets	3	927	1,393
		158,239	1,393
Current assets
Debtors		524,300	133,082
Cash at bank and in hand		5,957	45,705
		530,257	178,787
Creditors: amounts falling due within one year		(735,643)	(252,924)
Net current assets (liabilities)		(205,386)	(74,137)
Total assets less current liabilities		(47,147)	(72,744)
Total net assets (liabilities)		(47,147)	(72,744)
Capital and reserves
Called up share capital		100	100
Profit and loss account		(47,247)	(72,844)
Shareholders' funds		(47,147)	(72,744)

For the year ending 31 March 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 December 2014

And signed on their behalf by:
Mr David Bagley, Director

DRB IGNITE LIMITED Registered Number 07163935

Notes to the Abbreviated Accounts for the period ended 31 March 2014

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents the total invoice value, excluding value added tax, of contracts / work undertaken during the period.

Tangible assets depreciation policy
Tangible fixed assets are stated at cost. Depreciation is calculated on a straight line basis at annual rates estimated to write off each asset over the term of its estimated useful life. The rates generally in use are as follows:

Office Equipment 20%
Computer Equipment & Software 20%

Intangible assets amortisation policy
Intangible fixed assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight basis over their estimated useful economic lives, not to exceed twenty years. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.

2Intangible fixed assets

	£
Cost
At 1 April 2013	-
Additions	174,791
Disposals	-
Revaluations	-
Transfers	-
At 31 March 2014	174,791
Amortisation
At 1 April 2013	-
Charge for the year	17,479
On disposals	-
At 31 March 2014	17,479
Net book values
At 31 March 2014	157,312
At 31 March 2013	-

3Tangible fixed assets

	£
Cost
At 1 April 2013	2,329
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 March 2014	2,329
Depreciation
At 1 April 2013	936
Charge for the year	466
On disposals	-
At 31 March 2014	1,402
Net book values
At 31 March 2014	927
At 31 March 2013	1,393