Tiger Plant Ltd Filleted accounts for Companies House (small and micro)

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COMPANY REGISTRATION NUMBER: 10469579

Tiger Plant Ltd

Filleted Unaudited Financial Statements

30 November 2020

Tiger Plant Ltd

Statement of Financial Position

30 November 2020

	2020	2019
Note	£	£

Fixed assets

Tangible assets	5	339,283	267,157

Current assets

Debtors	6	156,531	284,041
Cash at bank and in hand		4,356	9,059
		---------	---------
		160,887	293,100

Creditors: amounts falling due within one year	7	267,565	363,713
		---------	---------
Net current liabilities		106,678	70,613
		---------	---------
Total assets less current liabilities		232,605	196,544

Creditors: amounts falling due after more than one year	8	200,874	98,550
		---------	---------
Net assets		31,731	97,994
		---------	---------

Capital and reserves

Called up share capital	204	204
Profit and loss account	31,527	97,790
	--------	--------
Shareholders funds	31,731	97,994
	--------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 30 November 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Tiger Plant Ltd

Statement of Financial Position (continued)

30 November 2020

These financial statements were approved by the board of directors and authorised for issue on 26 August 2021 , and are signed on behalf of the board by:

Mr S A Morgan	Mr A Rohrer
Director	Director

Company registration number: 10469579

Tiger Plant Ltd

Notes to the Financial Statements

Year ended 30 November 2020

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Oakley House, Tetbury Road, Cirencester, Gloucestershire, GL7 1US.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery	-	10% reducing balance
Fixtures and fittings	-	20% straight line
Motor vehicles	-	15% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 4 (2019: 3 ).

5. Tangible assets

	Plant and machinery	Fixtures and fittings	Motor vehicles	Total
	£	£	£	£
Cost
At 1 December 2019	252,355	2,547	44,150	299,052
Additions	164,321	2,466	14,996	181,783
Disposals	( 78,690)	–	–	( 78,690)
	---------	-------	--------	---------
At 30 November 2020	337,986	5,013	59,146	402,145
	---------	-------	--------	---------
Depreciation
At 1 December 2019	17,638	79	14,178	31,895
Charge for the year	32,829	1,004	5,059	38,892
Disposals	( 7,925)	–	–	( 7,925)
	---------	-------	--------	---------
At 30 November 2020	42,542	1,083	19,237	62,862
	---------	-------	--------	---------
Carrying amount
At 30 November 2020	295,444	3,930	39,909	339,283
	---------	-------	--------	---------
At 30 November 2019	234,717	2,468	29,972	267,157
	---------	-------	--------	---------

6. Debtors

	2020	2019
	£	£
Trade debtors	139,972	265,407
Other debtors	16,559	18,634
	---------	---------
	156,531	284,041
	---------	---------

7. Creditors: amounts falling due within one year

	2020	2019
	£	£
Bank loans and overdrafts	5,000	–
Trade creditors	104,785	143,856
Amounts owed to group undertakings and undertakings in which the company has a participating interest	( 50,735)	40,445
Corporation tax	3	3
Social security and other taxes	26,906	39,318
Other creditors	181,606	140,091
	---------	---------
	267,565	363,713
	---------	---------

8. Creditors: amounts falling due after more than one year

	2020	2019
	£	£
Bank loans and overdrafts	45,000	–
Other creditors	155,874	98,550
	---------	--------
	200,874	98,550
	---------	--------

9. Directors' advances, credits and guarantees

During the year the directors entered into the following advances and credits with the company:

	2020
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
Mr S A Morgan	( 98,730)	–	( 25,455)	( 124,185)
Mr A Rohrer	1,600	1,000	–	2,600
	--------	-------	--------	---------
	( 97,130)	1,000	( 25,455)	( 121,585)
	--------	-------	--------	---------

	2019
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
Mr S A Morgan	( 83,750)	–	( 14,980)	( 98,730)
Mr A Rohrer	700	900	–	1,600
	--------	----	--------	--------
	( 83,050)	900	( 14,980)	( 97,130)
	--------	----	--------	--------