Caseware UK (AP4) 2023.0.135 2023.0.135 2024-02-292024-02-29falsetruefalseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-03-01No description of principal activity2118true 08384601 2023-03-01 2024-02-29 08384601 2022-03-01 2023-02-28 08384601 2024-02-29 08384601 2023-02-28 08384601 c:CompanySecretary1 2023-03-01 2024-02-29 08384601 c:Director2 2023-03-01 2024-02-29 08384601 c:Director3 2023-03-01 2024-02-29 08384601 c:RegisteredOffice 2023-03-01 2024-02-29 08384601 d:Buildings d:LongLeaseholdAssets 2023-03-01 2024-02-29 08384601 d:Buildings d:LongLeaseholdAssets 2024-02-29 08384601 d:Buildings d:LongLeaseholdAssets 2023-02-28 08384601 d:PlantMachinery 2023-03-01 2024-02-29 08384601 d:PlantMachinery 2024-02-29 08384601 d:PlantMachinery 2023-02-28 08384601 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 08384601 d:MotorVehicles 2023-03-01 2024-02-29 08384601 d:MotorVehicles 2024-02-29 08384601 d:MotorVehicles 2023-02-28 08384601 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 08384601 d:FurnitureFittings 2023-03-01 2024-02-29 08384601 d:FurnitureFittings 2024-02-29 08384601 d:FurnitureFittings 2023-02-28 08384601 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 08384601 d:ComputerEquipment 2023-03-01 2024-02-29 08384601 d:ComputerEquipment 2024-02-29 08384601 d:ComputerEquipment 2023-02-28 08384601 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 08384601 d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 08384601 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-03-01 2024-02-29 08384601 d:ComputerSoftware 2024-02-29 08384601 d:ComputerSoftware 2023-02-28 08384601 d:CurrentFinancialInstruments 2024-02-29 08384601 d:CurrentFinancialInstruments 2023-02-28 08384601 d:Non-currentFinancialInstruments 2024-02-29 08384601 d:Non-currentFinancialInstruments 2023-02-28 08384601 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-29 08384601 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 08384601 d:Non-currentFinancialInstruments d:AfterOneYear 2024-02-29 08384601 d:Non-currentFinancialInstruments d:AfterOneYear 2023-02-28 08384601 d:ShareCapital 2024-02-29 08384601 d:ShareCapital 2023-02-28 08384601 d:RetainedEarningsAccumulatedLosses 2024-02-29 08384601 d:RetainedEarningsAccumulatedLosses 2023-02-28 08384601 c:FRS102 2023-03-01 2024-02-29 08384601 c:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 08384601 c:FullAccounts 2023-03-01 2024-02-29 08384601 c:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 08384601 d:WithinOneYear 2024-02-29 08384601 d:WithinOneYear 2023-02-28 08384601 d:BetweenOneFiveYears 2024-02-29 08384601 d:BetweenOneFiveYears 2023-02-28 08384601 4 2023-03-01 2024-02-29 08384601 6 2023-03-01 2024-02-29 08384601 d:ComputerSoftware d:OwnedIntangibleAssets 2023-03-01 2024-02-29 08384601 e:PoundSterling 2023-03-01 2024-02-29 iso4217:GBP xbrli:pure
Company registration number: 08384601







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
29 FEBRUARY 2024


TIGFUSION LIMITED






































img2b10.png                        

 


TIGFUSION LIMITED
 


 
COMPANY INFORMATION


Directors
Richard Walsom 
Dr Brian Page 




Company secretary
Robin Sawyer
Attilia Page



Registered number
08384601



Registered office
Unit 7 Haywood Way
Ivyhouse Lane Industrial Estate

Hastings

TN35 4PL




Accountants
Menzies LLP
Chartered Accountants

Victoria House

50-58 Victoria Road

Farnborough

Hampshire

GU14 7PG





 


TIGFUSION LIMITED
 



CONTENTS



Page
Statement of Financial Position
1 - 2
Notes to the Financial Statements
3 - 10


 


TIGFUSION LIMITED
REGISTERED NUMBER:08384601



STATEMENT OF FINANCIAL POSITION
AS AT 29 FEBRUARY 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
4,976
7,197

Tangible assets
 5 
351,152
428,319

Investments
 6 
52,641
210,226

  
408,769
645,742

Current assets
  

Stocks
  
501,985
436,837

Debtors: amounts falling due within one year
 7 
350,028
281,669

Cash at bank and in hand
  
240,002
272,490

  
1,092,015
990,996

Creditors: amounts falling due within one year
 8 
(419,599)
(718,007)

Net current assets
  
 
 
672,416
 
 
272,989

Total assets less current liabilities
  
1,081,185
918,731

Creditors: amounts falling due after more than one year
 9 
(259,248)
(350,711)

Provisions for liabilities
  

Deferred tax
  
(19,739)
(62,452)

  
 
 
(19,739)
 
 
(62,452)

Net assets
  
802,198
505,568


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
802,098
505,468

  
802,198
505,568


Page 1

 


TIGFUSION LIMITED
REGISTERED NUMBER:08384601


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 29 FEBRUARY 2024

The Directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The Directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
Richard Walsom
................................................
Dr Brian Page
Director
Director


Date: 2 August 2024

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 


TIGFUSION LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1.


General information

Tigfusion Limited is a private company, limited by shares and incorporated in England and Wales. The address of the registered office, which is also the principal place of business, is disclosed on the company information page.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Exemption from preparing consolidated financial statements

The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.

 
2.3

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 


TIGFUSION LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.7

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.

 
2.8

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

Development expenditure
-
5
years

Page 4

 


TIGFUSION LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Leasehold property improvements
-
10%
Straight line
Plant and machinery
-
25%
Reducing balance
Motor vehicles
-
25%
Reducing balance
Fixtures and fittings
-
25%
Reducing balance
Computer equipment
-
33%
Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.11

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.


3.


Employees

The average monthly number of employees, including directors, during the year was 21 (2023 - 18).

Page 5

 


TIGFUSION LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

4.


Intangible assets






Development expenditure

£



Cost


At 1 March 2023
11,103



At 29 February 2024

11,103



Amortisation


At 1 March 2023
3,906


Charge for the year
2,221



At 29 February 2024

6,127



Net book value



At 29 February 2024
4,976



At 28 February 2023
7,197



Page 6

 


TIGFUSION LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

5.


Tangible fixed assets







Long-term leasehold property
Plant and machinery
Motor vehicles
Fixtures and fittings
Computer equipment
Total

£
£
£
£
£
£



Cost or valuation


At 1 March 2023
20,364
557,325
40,018
44,175
13,390
675,272


Additions
-
40,925
4,950
7,073
2,514
55,462


Disposals
-
(9,300)
(40,018)
-
-
(49,318)



At 29 February 2024

20,364
588,950
4,950
51,248
15,904
681,416



Depreciation


At 1 March 2023
3,406
206,592
11,255
14,789
10,911
246,953


Charge for the year
2,036
90,159
4,214
8,590
1,993
106,992


Disposals
-
(8,831)
(14,850)
-
-
(23,681)



At 29 February 2024

5,442
287,920
619
23,379
12,904
330,264



Net book value



At 29 February 2024
14,922
301,030
4,331
27,869
3,000
351,152



At 28 February 2023
16,958
350,733
28,763
29,386
2,479
428,319

Page 7

 


TIGFUSION LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

6.


Fixed asset investments








Investments in subsidiary companies

£



Cost or valuation


At 1 March 2023
210,226


Additions
12,000


Disposals
(101)



At 29 February 2024

222,125



Impairment


Charge for the period
169,484



At 29 February 2024

169,484



Net book value



At 29 February 2024
52,641



At 28 February 2023
210,226

Page 8

 


TIGFUSION LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

7.


Debtors

2024
2023
£
£


Trade debtors
320,676
234,610

Other debtors
5,375
33,815

Prepayments and accrued income
23,977
13,244

350,028
281,669



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
34,750
37,646

Trade creditors
113,447
119,285

Amounts owed to group undertakings
73,760
400,834

Other taxation and social security
81,888
34,165

Obligations under finance lease and hire purchase contracts
59,198
89,768

Other creditors
38,647
36,309

Accruals and deferred income
17,909
-

419,599
718,007



9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
17,375
49,229

Net obligations under finance leases and hire purchase contracts
241,873
301,482

259,248
350,711


Page 9

 


TIGFUSION LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

10.


Commitments under operating leases

At 29 February 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
36,194
-

Later than 1 year and not later than 5 years
61,172
-

97,366
-

 
Page 10