IGNITION CREDIT PLC

• ◆

  1 PSC ceased in last 24 months

  Significant control changed hands — see the Ownership section.

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

• Turnover

  +0.9%

  £3,250,000 → £3,279,000

• Cash

  +104%

  £723,000 → £1,475,000

• Net assets

  -19.4%

  £11,178,000 → £9,013,000

• Employees

  +7.7%

  13 → 14

• Operating profit

  -2.7%

  £1,424,000 → £1,386,000

• Profit before tax

  +10.7%

  £599,000 → £663,000

• Wages

  +14.4%

  £662,000 → £757,000

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

1. IGNITION CREDIT PLC 2005-07-21 → present
2. IGNITION CREDIT LTD 2004-09-16 → 2005-07-21
3. GAP INVESTMENTS LTD 2001-11-02 → 2004-09-16

Accounting basis

FRS 102

Reporting scope

Standalone (parent only)

Auditor

Grant Thornton UK LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“On this basis, the directors continue to adopt the going concern basis in preparing Ignition's 2024 financial statements.”

Group structure

1. IGNITION CREDIT PLC · parent
   1. First Capital Finance Limited 100% · Other financial service activities
   2. First Capital Leasing Limited 100% · Dormant
   3. Ignition Automotive Limited 100% · Dormant

Significant events

• “Following a decision by the FCA in January 2024 to investigate the use of Discretionary Commission Arrangements (DCA), the FCA have confirmed that they may consult on an industry-wide redress scheme, and that their decision on whether to proceed with a redress scheme will be announced within six weeks of the Supreme Court ruling (see (2) below).”
• “A judgement by the Court of Appeal in October 2024 that motor dealers owe a fiduciary duty to the customer when arranging finance, and that it is unlawful for motor dealers to receive commission from lenders providing motor finance without disclosing the commission to the customer and obtaining their consent to that payment.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

7

last 12 months

Capital events

0

last 24 months

Officers appointed

0

last 12 months

Officers resigned

0

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.