Tigges (E) Limited 08754945 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is the sale of stainless steel fasteners. Digita Accounts Production Advanced 6.30.9574.0 true true 08754945 2023-01-01 2023-12-31 08754945 2023-12-31 08754945 bus:OrdinaryShareClass1 bus:Non-cumulativeNon-redeemableShares 2023-12-31 08754945 core:FinanceLeases core:CurrentFinancialInstruments 2023-12-31 08754945 core:FinanceLeases core:Non-currentFinancialInstruments 2023-12-31 08754945 core:CurrentFinancialInstruments 2023-12-31 08754945 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 08754945 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 08754945 core:FurnitureFittingsToolsEquipment 2023-12-31 08754945 core:MotorVehicles 2023-12-31 08754945 bus:SmallEntities 2023-01-01 2023-12-31 08754945 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 08754945 bus:FullAccounts 2023-01-01 2023-12-31 08754945 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 08754945 bus:RegisteredOffice 2023-01-01 2023-12-31 08754945 bus:Director1 2023-01-01 2023-12-31 08754945 bus:OrdinaryShareClass1 bus:Non-cumulativeNon-redeemableShares 2023-01-01 2023-12-31 08754945 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 08754945 core:ComputerEquipment 2023-01-01 2023-12-31 08754945 core:FurnitureFittingsToolsEquipment 2023-01-01 2023-12-31 08754945 core:MotorVehicles 2023-01-01 2023-12-31 08754945 1 2023-01-01 2023-12-31 08754945 countries:EnglandWales 2023-01-01 2023-12-31 08754945 2022-12-31 08754945 core:FurnitureFittingsToolsEquipment 2022-12-31 08754945 core:MotorVehicles 2022-12-31 08754945 2022-01-01 2022-12-31 08754945 2022-12-31 08754945 bus:OrdinaryShareClass1 bus:Non-cumulativeNon-redeemableShares 2022-12-31 08754945 core:FinanceLeases core:CurrentFinancialInstruments 2022-12-31 08754945 core:FinanceLeases core:Non-currentFinancialInstruments 2022-12-31 08754945 core:CurrentFinancialInstruments 2022-12-31 08754945 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 08754945 core:Non-currentFinancialInstruments core:AfterOneYear 2022-12-31 08754945 core:FurnitureFittingsToolsEquipment 2022-12-31 08754945 core:MotorVehicles 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 08754945

Tigges (E) Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2023

 

Tigges (E) Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Tigges (E) Limited

Company Information

Director

Mr P Haynes

Registered office

Rowan House North
1 The Professional Quarter
Shrewsbury Business Park
Shrewsbury
Shropshire
SY2 6LG

Accountants

CBSL Accountants Limited
Chartered Accountants
Rowan House North
1 The Professional Quarter
Shrewsbury Business Park
Shrewsbury
Shropshire
SY2 6LG

 

Tigges (E) Limited

(Registration number: 08754945)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

79,761

132,461

Current assets

 

Debtors

5

199,321

186,027

Cash at bank and in hand

 

766,915

518,147

 

966,236

704,174

Creditors: Amounts falling due within one year

6

(261,032)

(181,810)

Net current assets

 

705,204

522,364

Total assets less current liabilities

 

784,965

654,825

Creditors: Amounts falling due after more than one year

6

(53,672)

(55,251)

Provisions for liabilities

(19,940)

(33,115)

Net assets

 

711,353

566,459

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

711,253

566,359

Shareholders' funds

 

711,353

566,459

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

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

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

 

Tigges (E) Limited

(Registration number: 08754945)
Balance Sheet as at 31 December 2023

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 1 July 2024
 


Mr P Haynes
Director

 

Tigges (E) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Rowan House North
1 The Professional Quarter
Shrewsbury Business Park
Shrewsbury
Shropshire
SY2 6LG

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Tax

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

 

Tigges (E) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

The current income 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 taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor Vehicles

25% Reducing balance

Computer Equipment

33% Straight Line

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Tigges (E) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

 

Tigges (E) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2023

-

142,961

142,961

Additions

1,718

-

1,718

Disposals

-

(36,104)

(36,104)

At 31 December 2023

1,718

106,857

108,575

Depreciation

At 1 January 2023

-

10,500

10,500

Charge for the year

430

31,956

32,386

Eliminated on disposal

-

(14,072)

(14,072)

At 31 December 2023

430

28,384

28,814

Carrying amount

At 31 December 2023

1,288

78,473

79,761

At 31 December 2022

-

132,461

132,461

 

Tigges (E) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

5

Debtors

Current

2023
£

2022
£

Trade debtors

196,222

185,928

Prepayments

3,000

-

Other debtors

99

99

 

199,321

186,027

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

1,579

1,483

Trade creditors

 

171,126

127,629

Taxation and social security

 

87,650

47,332

Other creditors

 

677

5,366

 

261,032

181,810

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

53,672

55,251

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

         
 

Tigges (E) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Finance lease liabilities

53,672

55,251

2023
£

2022
£

Current loans and borrowings

Finance lease liabilities

1,579

1,483

9

Related party transactions

At 31 December 2023 the company owed the director a balance of £677 (2022 - £366), which is included in Other creditors.

 

10

Parent and ultimate parent undertaking

The company's immediate parent is Xexiqon Limited, incorporated in England & Wales.