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Registered number: 03916255
Tiga Creative Marketing Limited
Unaudited Financial Statements
For The Year Ended 31 May 2024
Reynolds
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 03916255
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 340,042 313,565
340,042 313,565
CURRENT ASSETS
Stocks 5 45,000 45,000
Debtors 6 120,534 214,198
Cash at bank and in hand 5,722 -
171,256 259,198
Creditors: Amounts Falling Due Within One Year 7 (215,730 ) (279,552 )
NET CURRENT ASSETS (LIABILITIES) (44,474 ) (20,354 )
TOTAL ASSETS LESS CURRENT LIABILITIES 295,568 293,211
Creditors: Amounts Falling Due After More Than One Year 8 (144,581 ) (178,091 )
NET ASSETS 150,987 115,120
CAPITAL AND RESERVES
Called up share capital 10 300 300
Revaluation reserve 11 110,000 80,000
Profit and Loss Account 40,687 34,820
SHAREHOLDERS' FUNDS 150,987 115,120
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For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Stuart Coe
Director
25/02/2025
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Tiga Creative Marketing Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03916255 . The registered office is Ground Floor Windmill House, 127-128 Windmill Street, Gravesend, Kent, DA12 1BL.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and form the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover form the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 2% straight line
Motor Vehicles 25% reducing balance
Fixtures & Fittings 15% reducing balance
Computer Equipment 25% straight line
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 10 (2023: 10)
10 10
4. Tangible Assets
Land & Property
Freehold Investment Properties Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost or Valuation
As at 1 June 2023 300,000 - 40,944 38,022 378,966
Additions - - - 541 541
Revaluation - 30,000 - - 30,000
Transfers (300,000 ) 300,000 - - -
As at 31 May 2024 - 330,000 40,944 38,563 409,507
Depreciation
As at 1 June 2023 - - 36,354 29,047 65,401
Provided during the period - - 689 3,375 4,064
As at 31 May 2024 - - 37,043 32,422 69,465
Net Book Value
As at 31 May 2024 - 330,000 3,901 6,141 340,042
As at 1 June 2023 300,000 - 4,590 8,975 313,565
5. Stocks
2024 2023
£ £
Work in progress 45,000 45,000
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6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 120,534 214,198
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 9,102 6,415
Bank loans and overdrafts 36,647 33,552
Corporation tax 43,307 57,425
Other taxes and social security 8,580 28,121
VAT 9,415 6,789
Credit cards 42,211 45,877
Factoring account 27,877 81,984
Other loans < 1 year 19,009 16,473
Pensions payable - (217 )
Accruals and deferred income 3,000 3,001
Directors' loan accounts 16,582 132
215,730 279,552
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 134,007 148,508
Other loans > 1 year 10,574 29,583
144,581 178,091
9. Secured Creditors
Of the creditors the following amounts are secured.
2024 2023
£ £
Bank loans and overdrafts - 146,626
Other Creditors - 46,056
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 300 300
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11. Reserves
Revaluation Reserve
£
As at 1 June 2023 80,000
Surplus on revaluation 30,000
As at 31 May 2024 110,000
12. Ultimate Controlling Party
The company's ultimate controlling party is S L Coe.
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