ignition credit plc
ignition credit plc Company Information
Company Number
04315993
Next Accounts
Jun 2025
Shareholders
star asset finance ltd
Group Structure
View All
Industry
Financial leasing
Registered Address
sterling house,, green court, truro business park, truro, cornwall, TR4 9LF
Website
www.ignitioncredit.co.ukignition credit plc Estimated Valuation
Pomanda estimates the enterprise value of IGNITION CREDIT PLC at £6.6m based on a Turnover of £3.3m and 2.03x industry multiple (adjusted for size and gross margin).
ignition credit plc Estimated Valuation
Pomanda estimates the enterprise value of IGNITION CREDIT PLC at £11.6m based on an EBITDA of £1.4m and a 8x industry multiple (adjusted for size and gross margin).
ignition credit plc Estimated Valuation
Pomanda estimates the enterprise value of IGNITION CREDIT PLC at £22.3m based on Net Assets of £11.2m and 2x industry multiple (adjusted for liquidity).
Edit your figures and get a professional valuation report.
Ignition Credit Plc Overview
Ignition Credit Plc is a live company located in truro, TR4 9LF with a Companies House number of 04315993. It operates in the financial leasing sector, SIC Code 64910. Founded in November 2001, it's largest shareholder is star asset finance ltd with a 100% stake. Ignition Credit Plc is a mature, small sized company, Pomanda has estimated its turnover at £3.3m with declining growth in recent years.
Upgrade for unlimited company reports & a free credit check
Ignition Credit Plc Health Check
Pomanda's financial health check has awarded Ignition Credit Plc a 4 rating. We use a traffic light system to show it exceeds the industry average on 4 measures and has 2 areas for improvement. Company Health Check FAQs
4 Strong
4 Regular
2 Weak
Size
annual sales of £3.3m, make it in line with the average company (£2.9m)
£3.3m - Ignition Credit Plc
£2.9m - Industry AVG
Growth
3 year (CAGR) sales growth of -18%, show it is growing at a slower rate (-0.2%)
-18% - Ignition Credit Plc
-0.2% - Industry AVG
Production
with a gross margin of 88.1%, this company has a lower cost of product (49.3%)
88.1% - Ignition Credit Plc
49.3% - Industry AVG
Profitability
an operating margin of 43.8% make it as profitable than the average company (39.8%)
43.8% - Ignition Credit Plc
39.8% - Industry AVG
Employees
with 13 employees, this is above the industry average (8)
13 - Ignition Credit Plc
8 - Industry AVG
Pay Structure
on an average salary of £57.7k, the company has an equivalent pay structure (£69.9k)
£57.7k - Ignition Credit Plc
£69.9k - Industry AVG
Efficiency
resulting in sales per employee of £250k, this is less efficient (£548k)
£250k - Ignition Credit Plc
£548k - Industry AVG
Debtor Days
it gets paid by customers after 13 days, this is earlier than average (49 days)
13 days - Ignition Credit Plc
49 days - Industry AVG
Creditor Days
There is insufficient data available for this Key Performance Indicator!
- - Ignition Credit Plc
- - Industry AVG
Stock Days
There is insufficient data available for this Key Performance Indicator!
- - Ignition Credit Plc
- - Industry AVG
Cash Balance
has cash to cover current liabilities for 5 weeks, this is average cash available to meet short term requirements (5 weeks)
5 weeks - Ignition Credit Plc
5 weeks - Industry AVG
Debt Level
it has a ratio of liabilities to total assets of 59.1%, this is a lower level of debt than the average (96.3%)
59.1% - Ignition Credit Plc
96.3% - Industry AVG
IGNITION CREDIT PLC financials
Ignition Credit Plc's latest turnover from December 2023 is £3.3 million and the company has net assets of £11.2 million. According to their latest financial statements, Ignition Credit Plc has 13 employees and maintains cash reserves of £723 thousand as reported in the balance sheet.
Data source: Companies House, Pomanda Estimates
| Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | Dec 2017 | Dec 2016 | Dec 2015 | Jul 2014 | Jul 2013 | Jul 2012 | Jul 2011 | Jul 2010 | Jul 2009 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Turnover | 3,250,000 | 2,580,000 | 5,103,000 | 5,848,000 | 7,004,000 | 7,360,000 | 5,717,000 | 4,275,954 | 3,280,574 | 2,053,165 | 1,831,884 | 1,620,955 | 1,178,133 | 965,677 | 811,899 |
| Other Income Or Grants | |||||||||||||||
| Cost Of Sales | 386,000 | 331,000 | 663,000 | 610,000 | 555,000 | 518,000 | 266,000 | 196,292 | 150,600 | 49,694 | 55,967 | 95,294 | 90,246 | 110,906 | 22,963 |
| Gross Profit | 2,864,000 | 2,249,000 | 4,440,000 | 5,238,000 | 6,449,000 | 6,842,000 | 5,451,000 | 4,079,662 | 3,129,974 | 2,003,471 | 1,775,917 | 1,525,661 | 1,087,887 | 854,771 | 788,936 |
| Admin Expenses | 1,440,000 | 1,370,000 | 2,175,000 | 2,695,000 | 3,713,000 | 3,453,000 | 2,603,000 | 2,422,559 | 1,241,925 | 435,493 | 457,168 | 408,472 | 344,842 | 293,763 | 236,543 |
| Operating Profit | 1,424,000 | 879,000 | 2,265,000 | 2,543,000 | 2,736,000 | 3,389,000 | 2,848,000 | 1,657,103 | 1,888,049 | 1,567,978 | 1,318,749 | 1,117,189 | 743,045 | 561,008 | 552,393 |
| Interest Payable | 825,000 | 423,000 | 643,000 | 982,000 | 1,310,000 | 1,376,000 | 1,048,000 | 696,666 | 377,270 | 222,923 | 253,705 | 183,203 | 107,924 | 86,474 | 80,332 |
| Interest Receivable | 1,000 | 66,000 | 8 | 1,872 | 139 | 133 | 110 | 97 | 80 | 1,132 | |||||
| Pre-Tax Profit | 599,000 | 457,000 | 1,622,000 | 1,627,000 | 1,426,000 | 2,013,000 | 1,800,000 | 960,445 | 1,512,651 | 1,348,674 | 1,065,177 | 934,096 | 635,218 | 474,614 | 473,193 |
| Tax | -306,000 | 74,000 | -423,000 | -260,000 | -322,000 | -514,000 | -636,000 | -283,476 | -229,342 | -304,096 | -254,312 | -243,465 | -153,585 | -119,468 | -154,589 |
| Profit After Tax | 293,000 | 531,000 | 1,199,000 | 1,367,000 | 1,104,000 | 1,499,000 | 1,164,000 | 676,969 | 1,283,309 | 1,044,578 | 810,865 | 690,631 | 481,633 | 355,146 | 318,604 |
| Dividends Paid | 150,835 | 350,034 | 311,621 | 278,295 | 192,199 | 177,672 | 137,850 | ||||||||
| Retained Profit | 293,000 | 531,000 | 1,199,000 | 1,367,000 | 1,104,000 | 1,499,000 | 1,164,000 | 676,969 | 1,132,474 | 694,544 | 499,244 | 412,336 | 289,434 | 177,474 | 180,754 |
| Employee Costs | 750,000 | 788,000 | 1,639,000 | 1,503,000 | 1,853,000 | 1,733,000 | 1,655,000 | 1,411,930 | 748,766 | 209,286 | 164,271 | 152,865 | 101,213 | 122,421 | 71,424 |
| Number Of Employees | 13 | 14 | 25 | 23 | 32 | 30 | 36 | 23 | 14 | 12 | 11 | 12 | 10 | 10 | 6 |
| EBITDA* | 1,447,000 | 896,000 | 2,319,000 | 2,527,000 | 2,952,000 | 3,826,000 | 3,297,000 | 2,036,954 | 1,974,463 | 1,600,393 | 1,347,366 | 1,144,004 | 761,798 | 593,793 | 576,732 |
* Earnings Before Interest, Tax, Depreciation and Amortisation
| Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | Dec 2017 | Dec 2016 | Dec 2015 | Jul 2014 | Jul 2013 | Jul 2012 | Jul 2011 | Jul 2010 | Jul 2009 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Tangible Assets | 44,000 | 57,000 | 64,000 | 106,000 | 181,000 | 134,000 | 172,000 | 183,052 | 98,234 | 110,479 | 111,916 | 110,342 | 35,440 | 109,336 | 83,780 |
| Intangible Assets | 57,000 | 199,000 | 569,000 | 938,051 | 1,279,573 | ||||||||||
| Investments & Other | 1,641,000 | 1,641,000 | |||||||||||||
| Debtors (Due After 1 year) | 15,620,000 | 14,586,000 | 15,914,000 | 12,888,000 | 19,557,000 | 20,620,000 | 18,141,000 | 12,442,496 | 6,775,337 | 3,342,874 | 2,923,355 | 2,986,167 | 1,745,812 | 1,025,216 | 831,646 |
| Total Fixed Assets | 17,305,000 | 16,284,000 | 15,978,000 | 12,994,000 | 19,795,000 | 20,953,000 | 18,882,000 | 13,563,599 | 8,153,144 | 3,453,353 | 3,035,271 | 3,096,509 | 1,781,252 | 1,134,552 | 915,426 |
| Stock & work in progress | |||||||||||||||
| Trade Debtors | 121,000 | 69,000 | 86,000 | 184,000 | 116,000 | 183,000 | 140,000 | 63,872 | 89,156 | 47,466 | 40,330 | 23,365 | 46,301 | 1,413,123 | 1,114,803 |
| Group Debtors | 965,000 | 957,000 | |||||||||||||
| Misc Debtors | 8,209,000 | 6,786,000 | 10,522,000 | 10,542,000 | 13,798,000 | 14,601,000 | 12,236,000 | 8,317,673 | 5,662,535 | 3,496,252 | 3,129,563 | 2,835,638 | 2,042,644 | 111,387 | 67,058 |
| Cash | 723,000 | 1,359,000 | 2,704,000 | 3,992,000 | 979,000 | 1,794,000 | 1,169,000 | 1,167,000 | 608,966 | 618,368 | 202,259 | 341,492 | 121,636 | 117,580 | 145,720 |
| misc current assets | |||||||||||||||
| total current assets | 10,018,000 | 9,171,000 | 13,312,000 | 14,718,000 | 14,893,000 | 16,578,000 | 13,545,000 | 9,548,545 | 6,360,657 | 4,162,086 | 3,372,152 | 3,200,495 | 2,210,581 | 1,642,090 | 1,327,581 |
| total assets | 27,323,000 | 25,455,000 | 29,290,000 | 27,712,000 | 34,688,000 | 37,531,000 | 32,427,000 | 23,112,144 | 14,513,801 | 7,615,439 | 6,407,423 | 6,297,004 | 3,991,833 | 2,776,642 | 2,243,007 |
| Bank overdraft | |||||||||||||||
| Bank loan | 712,000 | 712,000 | 1,209 | 2,369,365 | 2,189,766 | 1,373,601 | 859,599 | 710,065 | |||||||
| Trade Creditors | 22,000 | 30,000 | 27,000 | 36,000 | 93,000 | 130,000 | 21,844 | 19,992 | 17,001 | 20,084 | 21,151 | 9,578 | 5,019 | 5,623 | |
| Group/Directors Accounts | 3,336,000 | 3,216,000 | 2,538,000 | 3,575,000 | 2,104,000 | ||||||||||
| other short term finances | 6,069,000 | 4,317,000 | 6,966,000 | 8,761,000 | 11,582,000 | 12,433,000 | 10,459,000 | 6,845,208 | 4,079,200 | 2,468,197 | |||||
| hp & lease commitments | 3,000 | 3,000 | 29,000 | 20,000 | 49,000 | 43,000 | 41,000 | 30,713 | 30,896 | 21,517 | 26,356 | 20,681 | 6,915 | 38,820 | 32,314 |
| other current liabilities | 559,000 | 398,000 | 658,000 | 915,000 | 1,003,000 | 1,267,000 | 1,100,000 | 717,368 | 884,352 | 391,650 | 320,537 | 308,416 | 244,361 | 256,657 | 186,242 |
| total current liabilities | 7,343,000 | 5,452,000 | 11,019,000 | 12,939,000 | 15,208,000 | 17,411,000 | 13,834,000 | 7,615,133 | 5,014,440 | 2,899,574 | 2,736,342 | 2,540,014 | 1,634,455 | 1,160,095 | 934,244 |
| loans | 8,792,000 | 9,105,000 | 6,757,000 | 4,664,000 | 10,477,000 | 11,579,000 | 11,673,000 | 9,895,271 | 4,677,174 | 1,760,153 | 1,405,051 | 1,983,194 | 1,041,389 | 561,350 | 411,876 |
| hp & lease commitments | 10,000 | 13,000 | 57,000 | 82,000 | 42,000 | 81,000 | 73,699 | 39,794 | 38,857 | 43,719 | 50,729 | 5,258 | 33,900 | 24,313 | |
| Accruals and Deferred Income | |||||||||||||||
| other liabilities | 28,750 | ||||||||||||||
| provisions | 263,000 | 202,000 | 890,000 | 806,000 | 730,335 | 661,656 | |||||||||
| total long term liabilities | 8,802,000 | 9,118,000 | 7,020,000 | 4,721,000 | 10,761,000 | 12,511,000 | 12,560,000 | 10,699,305 | 5,378,624 | 1,799,010 | 1,448,770 | 2,033,923 | 1,046,647 | 595,250 | 464,939 |
| total liabilities | 16,145,000 | 14,570,000 | 18,039,000 | 17,660,000 | 25,969,000 | 29,922,000 | 26,394,000 | 18,314,438 | 10,393,064 | 4,698,584 | 4,185,112 | 4,573,937 | 2,681,102 | 1,755,345 | 1,399,183 |
| net assets | 11,178,000 | 10,885,000 | 11,251,000 | 10,052,000 | 8,719,000 | 7,609,000 | 6,033,000 | 4,797,706 | 4,120,737 | 2,916,855 | 2,222,311 | 1,723,067 | 1,310,731 | 1,021,297 | 843,824 |
| total shareholders funds | 11,178,000 | 10,885,000 | 11,251,000 | 10,052,000 | 8,719,000 | 7,609,000 | 6,033,000 | 4,797,706 | 4,120,737 | 2,916,855 | 2,222,311 | 1,723,067 | 1,310,731 | 1,021,297 | 843,824 |
| Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | Dec 2017 | Dec 2016 | Dec 2015 | Jul 2014 | Jul 2013 | Jul 2012 | Jul 2011 | Jul 2010 | Jul 2009 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | |||||||||||||||
| Operating Profit | 1,424,000 | 879,000 | 2,265,000 | 2,543,000 | 2,736,000 | 3,389,000 | 2,848,000 | 1,657,103 | 1,888,049 | 1,567,978 | 1,318,749 | 1,117,189 | 743,045 | 561,008 | 552,393 |
| Depreciation | 23,000 | 17,000 | 54,000 | 63,000 | 74,000 | 67,000 | 80,000 | 38,329 | 55,163 | 32,415 | 28,617 | 26,815 | 18,753 | 32,785 | 24,339 |
| Amortisation | -79,000 | 142,000 | 370,000 | 369,000 | 341,522 | 31,251 | |||||||||
| Tax | -306,000 | 74,000 | -423,000 | -260,000 | -322,000 | -514,000 | -636,000 | -283,476 | -229,342 | -304,096 | -254,312 | -243,465 | -153,585 | -119,468 | -154,589 |
| Stock | |||||||||||||||
| Debtors | 2,517,000 | -4,124,000 | 2,908,000 | -9,857,000 | -1,933,000 | 4,887,000 | 9,692,959 | 8,297,013 | 5,640,436 | 793,344 | 248,078 | 2,010,413 | 1,285,031 | 536,219 | 2,013,507 |
| Creditors | -22,000 | -8,000 | 3,000 | -9,000 | -57,000 | -37,000 | 108,156 | 1,852 | 2,991 | -3,083 | -1,067 | 11,573 | 4,559 | -604 | 5,623 |
| Accruals and Deferred Income | 161,000 | -260,000 | -257,000 | -88,000 | -264,000 | 167,000 | 382,632 | -166,984 | 492,702 | 71,113 | 12,121 | 64,055 | -12,296 | 70,415 | 186,242 |
| Deferred Taxes & Provisions | -263,000 | 263,000 | -202,000 | -688,000 | 84,000 | 75,665 | 68,679 | 661,656 | |||||||
| Cash flow from operations | -1,237,000 | 4,563,000 | -1,003,000 | 11,825,000 | 3,554,000 | -1,361,000 | -6,465,506 | -6,639,988 | -2,737,966 | 570,983 | 856,030 | -1,034,246 | -684,555 | 7,917 | -1,399,499 |
| Investing Activities | |||||||||||||||
| capital expenditure | -111,000 | -70,000 | -42,813 | 37,483 | 440,545 | 34,897 | -2,143,870 | 54,154 | -58,265 | -30,445 | |||||
| Change in Investments | 1,641,000 | ||||||||||||||
| cash flow from investments | -111,000 | -70,000 | -42,813 | 37,483 | 440,545 | 34,897 | -2,143,870 | 54,154 | -58,265 | -30,445 | |||||
| Financing Activities | |||||||||||||||
| Bank loans | 712,000 | -1,209 | -2,368,156 | 179,599 | 816,165 | 514,002 | 149,534 | 710,065 | |||||||
| Group/Directors Accounts | -3,336,000 | 120,000 | 678,000 | -1,037,000 | 1,471,000 | 2,104,000 | |||||||||
| Other Short Term Loans | 1,752,000 | -2,649,000 | -1,795,000 | -2,821,000 | -851,000 | 1,974,000 | 3,613,792 | 2,766,008 | 1,611,003 | 2,468,197 | |||||
| Long term loans | -313,000 | 2,348,000 | 2,093,000 | -5,813,000 | -1,102,000 | -94,000 | 1,777,729 | 5,218,097 | 2,917,021 | 355,102 | -578,143 | 941,805 | 480,039 | 149,474 | 411,876 |
| Hire Purchase and Lease Commitments | -3,000 | -13,000 | -48,000 | -54,000 | 46,000 | -37,000 | 17,588 | 33,722 | 10,316 | -9,701 | -1,335 | 59,237 | -60,547 | 16,093 | 56,627 |
| other long term liabilities | -28,750 | 28,750 | |||||||||||||
| share issue | |||||||||||||||
| interest | -825,000 | -422,000 | -643,000 | -916,000 | -1,310,000 | -1,376,000 | -1,048,000 | -696,658 | -375,398 | -222,784 | -253,572 | -183,093 | -107,827 | -86,394 | -79,200 |
| cash flow from financing | 611,000 | -4,257,000 | -273,000 | -8,960,000 | -4,248,000 | 2,015,000 | 6,536,403 | 7,321,169 | 4,233,141 | 222,658 | -653,451 | 1,634,114 | 825,667 | 199,956 | 1,791,188 |
| cash and cash equivalents | |||||||||||||||
| cash | -636,000 | -1,345,000 | -1,288,000 | 3,013,000 | -815,000 | 625,000 | 2,000 | 558,034 | -9,402 | 416,109 | -139,233 | 219,856 | 4,056 | -28,140 | 145,720 |
| overdraft | |||||||||||||||
| change in cash | -636,000 | -1,345,000 | -1,288,000 | 3,013,000 | -815,000 | 625,000 | 2,000 | 558,034 | -9,402 | 416,109 | -139,233 | 219,856 | 4,056 | -28,140 | 145,720 |
ignition credit plc Credit Report and Business Information
Ignition Credit Plc Competitor Analysis
Perform a competitor analysis for ignition credit plc by selecting its closest rivals, whether from the FINANCIAL AND INSURANCE ACTIVITIES sector, other small companies, companies in TR4 area or any other competitors across 12 key performance metrics.
ignition credit plc Ownership
IGNITION CREDIT PLC group structure
Ignition Credit Plc has 2 subsidiary companies.
Ultimate parent company
STAR FINANCE PARTNERSHIP LP
#0118929
STAR ASSET FINANCE LTD
#0088098
2 parents
IGNITION CREDIT PLC
04315993
2 subsidiaries
ignition credit plc directors
Ignition Credit Plc currently has 3 directors. The longest serving directors include Mr Paul Caunter (Mar 2009) and Mr Sean Devoy (Mar 2015).
| officer | country | age | start | end | role |
|---|---|---|---|---|---|
| Mr Paul Caunter | United Kingdom | 53 years | Mar 2009 | - | Director |
| Mr Sean Devoy | England | 58 years | Mar 2015 | - | Director |
| Mr Stephen Swift | 60 years | Aug 2024 | - | Director |
P&L
December 2023turnover
3.3m
+26%
operating profit
1.4m
+62%
gross margin
88.2%
+1.09%
turnover
Turnover, or revenue, is the amount of sales generated by a company within the financial year.
Balance Sheet
December 2023net assets
11.2m
+0.03%
total assets
27.3m
+0.07%
cash
723k
-0.47%
net assets
Total assets minus all liabilities
ignition credit plc company details
company number
04315993
Type
Public limited with Share Capital
industry
64910 - Financial leasing
incorporation date
November 2001
age
24
incorporated
UK
ultimate parent company
accounts
Small Company
last accounts submitted
December 2023
previous names
ignition credit ltd (July 2005)
gap investments ltd (September 2004)
accountant
-
auditor
GRANT THORNTON UK LLP
address
sterling house,, green court, truro business park, truro, cornwall, TR4 9LF
Bank
BARCLAYS BANK PLC
Legal Advisor
-
ignition credit plc Charges & Mortgages
A charge, or mortgage, refers to the rights a company gives to a lender in return for a loan, often in the form of security given over business assets.
We found 15 charges/mortgages relating to ignition credit plc. Currently there are 7 open charges and 8 have been satisfied in the past.
ignition credit plc Capital Raised & Share Issues BETA
When a company issues new shares, e.g. to new investors following a funding round, it is required to notify Companies House within one month of making an allotment of shares.
Click to start generating capital raising & share issue transactions for IGNITION CREDIT PLC. This can take several minutes, an email will notify you when this has completed.
ignition credit plc Companies House Filings - See Documents
| date | description | view/download |
|---|
