ignite software systems limited
ignite software systems limited Company Information
Company Number
06414297
Next Accounts
Sep 2025
Shareholders
verisk specialty business solutions limited
Group Structure
View All
Industry
Other activities auxiliary to insurance and pension funding
Registered Address
level 26 22 bishopsgate, london, EC2N 4BQ
Website
www.ignite.systemsignite software systems limited Estimated Valuation
Pomanda estimates the enterprise value of IGNITE SOFTWARE SYSTEMS LIMITED at £1.6m based on a Turnover of £2.1m and 0.77x industry multiple (adjusted for size and gross margin).
ignite software systems limited Estimated Valuation
Pomanda estimates the enterprise value of IGNITE SOFTWARE SYSTEMS LIMITED at £0 based on an EBITDA of £-16.2k and a 4.92x industry multiple (adjusted for size and gross margin).
ignite software systems limited Estimated Valuation
Pomanda estimates the enterprise value of IGNITE SOFTWARE SYSTEMS LIMITED at £0 based on Net Assets of £-3.1m and 2.06x industry multiple (adjusted for liquidity).
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Ignite Software Systems Limited Overview
Ignite Software Systems Limited is a live company located in london, EC2N 4BQ with a Companies House number of 06414297. It operates in the other activities auxiliary to insurance and pension funding sector, SIC Code 66290. Founded in October 2007, it's largest shareholder is verisk specialty business solutions limited with a 100% stake. Ignite Software Systems Limited is a established, small sized company, Pomanda has estimated its turnover at £2.1m with rapid growth in recent years.
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Ignite Software Systems Limited Health Check
Pomanda's financial health check has awarded Ignite Software Systems Limited a 2 rating. We use a traffic light system to show it exceeds the industry average on 3 measures and has 6 areas for improvement. Company Health Check FAQs
3 Strong
2 Regular
6 Weak
Size
annual sales of £2.1m, make it larger than the average company (£1.7m)
£2.1m - Ignite Software Systems Limited
£1.7m - Industry AVG
Growth
3 year (CAGR) sales growth of 47%, show it is growing at a faster rate (7%)
- Ignite Software Systems Limited
7% - Industry AVG
Production
with a gross margin of 89.2%, this company has a comparable cost of product (100%)
89.2% - Ignite Software Systems Limited
100% - Industry AVG
Profitability
an operating margin of -29.7% make it less profitable than the average company (10.4%)
-29.7% - Ignite Software Systems Limited
10.4% - Industry AVG
Employees
with 43 employees, this is above the industry average (9)
43 - Ignite Software Systems Limited
9 - Industry AVG
Pay Structure
on an average salary of £59.8k, the company has an equivalent pay structure (£59.8k)
- Ignite Software Systems Limited
£59.8k - Industry AVG
Efficiency
resulting in sales per employee of £49k, this is less efficient (£124.2k)
£49k - Ignite Software Systems Limited
£124.2k - Industry AVG
Debtor Days
it gets paid by customers after 120 days, this is later than average (50 days)
120 days - Ignite Software Systems Limited
50 days - Industry AVG
Creditor Days
its suppliers are paid after 7 days, this is quicker than average (63 days)
7 days - Ignite Software Systems Limited
63 days - Industry AVG
Stock Days
There is insufficient data available for this Key Performance Indicator!
- - Ignite Software Systems Limited
- - Industry AVG
Cash Balance
has cash to cover current liabilities for 2 weeks, this is less cash available to meet short term requirements (41 weeks)
2 weeks - Ignite Software Systems Limited
41 weeks - Industry AVG
Debt Level
it has a ratio of liabilities to total assets of 151.2%, this is a higher level of debt than the average (55.8%)
151.2% - Ignite Software Systems Limited
55.8% - Industry AVG
IGNITE SOFTWARE SYSTEMS LIMITED financials
Ignite Software Systems Limited's latest turnover from December 2023 is £2.1 million and the company has net assets of -£3.1 million. According to their latest financial statements, Ignite Software Systems Limited has 43 employees and maintains cash reserves of £396.7 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 | Dec 2014 | Dec 2013 | Dec 2012 | Dec 2011 | Dec 2010 | Dec 2009 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Turnover | 2,106,092 | 1,830,518 | 1,629,721 | ||||||||||||
| Other Income Or Grants | |||||||||||||||
| Cost Of Sales | |||||||||||||||
| Gross Profit | |||||||||||||||
| Admin Expenses | |||||||||||||||
| Operating Profit | -625,277 | -426,144 | -851,861 | ||||||||||||
| Interest Payable | |||||||||||||||
| Interest Receivable | 13,929 | ||||||||||||||
| Pre-Tax Profit | -625,277 | -426,144 | -837,932 | ||||||||||||
| Tax | -2,178 | -28,010 | |||||||||||||
| Profit After Tax | -627,455 | -454,154 | -837,932 | ||||||||||||
| Dividends Paid | |||||||||||||||
| Retained Profit | -627,455 | -454,154 | -837,932 | ||||||||||||
| Employee Costs | |||||||||||||||
| Number Of Employees | 43 | 29 | 20 | 15 | 14 | 20 | 16 | 9 | |||||||
| EBITDA* | -16,214 | -398,908 | -842,031 |
* 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 | Dec 2014 | Dec 2013 | Dec 2012 | Dec 2011 | Dec 2010 | Dec 2009 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Tangible Assets | 107,577 | 114,169 | 12,872 | 18,885 | 30,840 | 48,515 | 11,009 | 6,350 | 1,538 | 3,369 | 3,289 | 4,986 | 2,546 | 255 | 454 |
| Intangible Assets | 2,365,697 | 1,139,955 | 2,812 | 10,312 | 17,812 | 25,312 | |||||||||
| Investments & Other | 10,624 | 10,624 | 10,624 | 10,624 | |||||||||||
| Debtors (Due After 1 year) | |||||||||||||||
| Total Fixed Assets | 2,483,898 | 1,264,748 | 23,496 | 32,321 | 41,152 | 66,327 | 36,321 | 6,350 | 1,538 | 3,369 | 3,289 | 4,986 | 2,546 | 255 | 454 |
| Stock & work in progress | |||||||||||||||
| Trade Debtors | 696,768 | 546,045 | 202,580 | 118,508 | 158,252 | 173,461 | 78,685 | 47,872 | 15,082 | 23,378 | 16,129 | 14,774 | 15,217 | ||
| Group Debtors | 2,006,382 | 560,587 | 137,576 | ||||||||||||
| Misc Debtors | 394,392 | 231,994 | 20,402 | 158,279 | 106,562 | 97,366 | 91,915 | 12,971 | 10,324 | ||||||
| Cash | 396,743 | 18,481 | 180,255 | 86,939 | 20,863 | 30,067 | 27,000 | 6,544 | 2,441 | 1,691 | 200 | 6,346 | 5,861 | 7,150 | 8,449 |
| misc current assets | 7,751 | ||||||||||||||
| total current assets | 3,494,285 | 1,364,858 | 540,813 | 363,726 | 285,677 | 300,894 | 197,600 | 67,387 | 27,847 | 25,069 | 16,329 | 21,120 | 21,078 | 7,150 | 8,449 |
| total assets | 5,978,183 | 2,629,606 | 564,309 | 396,047 | 326,829 | 367,221 | 233,921 | 73,737 | 29,385 | 28,438 | 19,618 | 26,106 | 23,624 | 7,405 | 8,903 |
| Bank overdraft | |||||||||||||||
| Bank loan | 5,833 | ||||||||||||||
| Trade Creditors | 4,766 | 11,832 | 36,645 | 142,170 | 92,903 | 52,970 | 14,158 | 5,342 | 7,282 | 59,130 | 29,261 | 567,029 | 175,263 | 154,535 | 136,616 |
| Group/Directors Accounts | 8,607,551 | 4,618,687 | 2,355,639 | 311,486 | 227,887 | 165,019 | 178,061 | 198,233 | 173,438 | ||||||
| other short term finances | 694,380 | 644,380 | 644,380 | 44,380 | 14,380 | ||||||||||
| hp & lease commitments | |||||||||||||||
| other current liabilities | 398,148 | 412,005 | 148,342 | 336,396 | 184,790 | 138,727 | 48,084 | 47,211 | 19,281 | ||||||
| total current liabilities | 9,010,465 | 5,042,524 | 2,540,626 | 1,490,265 | 1,149,960 | 1,001,096 | 284,683 | 265,166 | 200,001 | 59,130 | 29,261 | 567,029 | 175,263 | 154,535 | 136,616 |
| loans | 44,167 | 250,000 | 30,000 | ||||||||||||
| hp & lease commitments | |||||||||||||||
| Accruals and Deferred Income | 40,271 | ||||||||||||||
| other liabilities | 839,380 | 892,875 | 807,899 | ||||||||||||
| provisions | 25,644 | 17,553 | 611 | 611 | 611 | ||||||||||
| total long term liabilities | 25,644 | 17,553 | 44,167 | 250,000 | 70,271 | 839,380 | 892,875 | 808,510 | 611 | 611 | |||||
| total liabilities | 9,036,109 | 5,060,077 | 2,540,626 | 1,534,432 | 1,149,960 | 1,001,096 | 534,683 | 335,437 | 1,039,381 | 952,005 | 837,771 | 567,640 | 175,874 | 154,535 | 136,616 |
| net assets | -3,057,926 | -2,430,471 | -1,976,317 | -1,138,385 | -823,131 | -633,875 | -300,762 | -261,700 | -1,009,996 | -923,567 | -818,153 | -541,534 | -152,250 | -147,130 | -127,713 |
| total shareholders funds | -3,057,926 | -2,430,471 | -1,976,317 | -1,138,385 | -823,131 | -633,875 | -300,762 | -261,700 | -1,009,996 | -923,567 | -818,153 | -541,534 | -152,250 | -147,130 | -127,713 |
| Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | Dec 2017 | Dec 2016 | Dec 2015 | Dec 2014 | Dec 2013 | Dec 2012 | Dec 2011 | Dec 2010 | Dec 2009 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | |||||||||||||||
| Operating Profit | -625,277 | -426,144 | -851,861 | ||||||||||||
| Depreciation | 63,872 | 27,236 | 9,830 | 18,450 | 20,064 | 15,042 | 4,243 | 2,497 | 1,831 | 3,244 | 2,427 | 1,953 | 428 | 199 | 149 |
| Amortisation | 545,191 | 7,500 | 7,500 | 7,500 | 4,688 | ||||||||||
| Tax | -2,178 | -28,010 | |||||||||||||
| Stock | |||||||||||||||
| Debtors | 1,758,916 | 978,068 | 83,771 | 11,973 | -6,013 | 100,227 | 109,757 | 35,437 | 2,028 | 7,249 | 1,355 | -443 | 15,217 | ||
| Creditors | -7,066 | -24,813 | -105,525 | 49,267 | 39,933 | 38,812 | 8,816 | -1,940 | -51,848 | 29,869 | -537,768 | 391,766 | 20,728 | 17,919 | 136,616 |
| Accruals and Deferred Income | -13,857 | 263,663 | -188,054 | 151,606 | 46,063 | 90,643 | -39,398 | 68,201 | 19,281 | ||||||
| Deferred Taxes & Provisions | 8,091 | 17,553 | -611 | 611 | |||||||||||
| Cash flow from operations | -1,790,140 | -1,148,583 | -1,219,381 | ||||||||||||
| Investing Activities | |||||||||||||||
| capital expenditure | |||||||||||||||
| Change in Investments | 10,624 | ||||||||||||||
| cash flow from investments | |||||||||||||||
| Financing Activities | |||||||||||||||
| Bank loans | -5,833 | 5,833 | |||||||||||||
| Group/Directors Accounts | 3,988,864 | 2,263,048 | 2,044,153 | 83,599 | 62,868 | -13,042 | -20,172 | 24,795 | 173,438 | ||||||
| Other Short Term Loans | -694,380 | 50,000 | 600,000 | 30,000 | 14,380 | ||||||||||
| Long term loans | -44,167 | 44,167 | -250,000 | 220,000 | 30,000 | ||||||||||
| Hire Purchase and Lease Commitments | |||||||||||||||
| other long term liabilities | -839,380 | -53,495 | 84,976 | 807,899 | |||||||||||
| share issue | |||||||||||||||
| interest | 13,929 | ||||||||||||||
| cash flow from financing | 3,988,864 | 2,263,048 | 1,313,702 | ||||||||||||
| cash and cash equivalents | |||||||||||||||
| cash | 378,262 | -161,774 | 93,316 | 66,076 | -9,204 | 3,067 | 20,456 | 4,103 | 750 | 1,491 | -6,146 | 485 | -1,289 | -1,299 | 8,449 |
| overdraft | |||||||||||||||
| change in cash | 378,262 | -161,774 | 93,316 | 66,076 | -9,204 | 3,067 | 20,456 | 4,103 | 750 | 1,491 | -6,146 | 485 | -1,289 | -1,299 | 8,449 |
ignite software systems limited Credit Report and Business Information
Ignite Software Systems Limited Competitor Analysis
Perform a competitor analysis for ignite software systems limited by selecting its closest rivals, whether from the FINANCIAL AND INSURANCE ACTIVITIES sector, other small companies, companies in EC2N area or any other competitors across 12 key performance metrics.
ignite software systems limited Ownership
IGNITE SOFTWARE SYSTEMS LIMITED group structure
Ignite Software Systems Limited has no subsidiary companies.
Ultimate parent company
VERISK ANALYTICS INC
#0017733
2 parents
IGNITE SOFTWARE SYSTEMS LIMITED
06414297
ignite software systems limited directors
Ignite Software Systems Limited currently has 2 directors. The longest serving directors include Mr Thomas Wong (Aug 2021) and Mr Thomas Wong (Aug 2021).
| officer | country | age | start | end | role |
|---|---|---|---|---|---|
| Mr Thomas Wong | England | 47 years | Aug 2021 | - | Director |
| Mr Thomas Wong | England | 47 years | Aug 2021 | - | Director |
P&L
December 2023turnover
2.1m
+15%
operating profit
-625.3k
+47%
gross margin
89.3%
-2.1%
turnover
Turnover, or revenue, is the amount of sales generated by a company within the financial year.
Balance Sheet
December 2023net assets
-3.1m
+0.26%
total assets
6m
+1.27%
cash
396.7k
+20.47%
net assets
Total assets minus all liabilities
ignite software systems limited company details
company number
06414297
Type
Private limited with Share Capital
industry
66290 - Other activities auxiliary to insurance and pension funding
incorporation date
October 2007
age
18
incorporated
UK
ultimate parent company
accounts
Audit Exemption Subsidiary
last accounts submitted
December 2023
previous names
wanna insure limited (April 2016)
supo ii limited (August 2008)
accountant
-
auditor
-
address
level 26 22 bishopsgate, london, EC2N 4BQ
Bank
HSBC BANK PLC
Legal Advisor
DICKSON MINTO WS
ignite software systems limited 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 1 charges/mortgages relating to ignite software systems limited. Currently there are 0 open charges and 1 have been satisfied in the past.
ignite software systems limited 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.
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ignite software systems limited Companies House Filings - See Documents
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