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Registered number: 13866837









TIGERMED UK LTD









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 DECEMBER 2023

 
TIGERMED UK LTD
REGISTERED NUMBER: 13866837

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
20,199
1,000

Cash at bank and in hand
 5 
238,987
331,064

  
259,186
332,064

Creditors: amounts falling due within one year
 6 
(51,752)
(7,333)

Net current assets
  
 
 
207,434
 
 
324,731

Total assets less current liabilities
  
207,434
324,731

  

Net assets
  
207,434
324,731


Capital and reserves
  

Called up share capital 
 7 
1,000
1,000

Other reserves
 8 
329,960
329,960

Profit and loss account
 8 
(123,526)
(6,229)

  
207,434
324,731


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 on 9 September 2024.




X Shi
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 1

 
TIGERMED UK LTD
 

STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 DECEMBER 2023


Called up share capital
Other reserves
Profit and loss account
Total equity

£
£
£
£


Comprehensive income for the period

Loss for the period
-
-
(6,229)
(6,229)
Total comprehensive income for the period
-
-
(6,229)
(6,229)


Contributions by and distributions to owners

Shares issued during the period
1,000
-
-
1,000

Capital contributions
-
329,960
-
329,960


Total transactions with owners
1,000
329,960
-
330,960



At 1 January 2023
1,000
329,960
(6,229)
324,731


Comprehensive income for the period

Loss for the period
-
-
(117,297)
(117,297)
Total comprehensive income for the period
-
-
(117,297)
(117,297)


At 31 December 2023
1,000
329,960
(123,526)
207,434


The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
TIGERMED UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

1.


General information

Tigermed UK Ltd is a private company limited by shares. The company was incorporated in the United Kingdom and is registered in England and Wales. The registered office is Dept 849a, 196 High Road, Wood Green, London, United Kingdom, N22 8HH. The registered number is 13866837. 

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors are satisfied that the going concern assessment is passed as a result of its strong financial and cash position with minimal committed costs for the foreseeable future. The company is also appropriately supported by its parent company within the group. Thus the company remains in a strong position for the future.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of income and retained earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
TIGERMED UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

  
2.4

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 other creditors as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 
TIGERMED UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

  
2.8

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.
Other financial assets
Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.
Impairment of financial assets
Financial assets are assessed for indicators of impairment at each reporting date.
Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.
If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual
arrangements entered into. An equity instruments any contract that evidences a residual interest in
Page 5

 
TIGERMED UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

the assets of the Company after the deduction of all its liabilities.
Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.
Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
Trade payables are obligations to pay for goods and services that have been acquired in the ordinary
course of business from suppliers. Trade payables are classified as current liabilities if the payment is
due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
Other financial instruments
Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.
Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.


3.


Employees

The average monthly number of employees, including directors, during the period was 1 (2022 - 0).


4.


Debtors

2023
2022
£
£


Amounts owed by group undertakings
1,000
1,000

Other debtors
18,668
-

Prepayments and accrued income
531
-

20,199
1,000


Page 6

 
TIGERMED UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

5.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
238,987
331,064

238,987
331,064



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Other taxation and social security
9,878
-

Other creditors
3,790
-

Accruals and deferred income
38,084
7,333

51,752
7,333



7.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1,000 (2022 - 1,000) Ordinary shares of £1.00 each
1,000
1,000



8.


Reserves

Other reserves

The other reserves figure of £329,960 relates to a capital contribution.

Profit and loss account

Includes all current and prior period retained earnings.


9.


Pension commitments

The Company operates a defined contributions pension plan. The assets of the plan are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £1,906 (2022 - £Nil). Contributions totalling £3,790 (2022 - £Nil) were payable to the fund at the balance sheet date and are included in other creditors.

Page 7

 
TIGERMED UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

10.


Related party transactions

IThe Company has taken advantage of the exemption allowed by FRS102 not to disclose transactions with other wholly owned members of the group.


11.


Controlling party

The immediate parent company is Hong Kong Tigermed Healthcare Technology Co Ltd which is incorporated and registered in Hong Kong, China. The ultimate controlling parent is Hangzhou Tigermed Consulting Co. Ltd which is incorporated and registered in Hangzhou, China. 
The Company is included in the consolidated accounts of the ultimate controlling parent company, Hangzhou Tigermed Consulting Co. Ltd, whose registered address is Room 2001-2010, Fl.20, Building 8, No.19 Jugong Road, Xixing Street, Binjiang District, Hangzhou, China, 310053. This is the smallest group to which the Company belongs and for which group financial statements are prepared.


12.


Auditors' information

The auditors' report on the financial statements for the period ended 31 December 2023 was unqualified.

The audit report was signed on 9 September 2024 by Daniel Reid FCA (Senior statutory auditor) on behalf of Donald Reid Limited.

 
Page 8