Company registration number NI664010 (Northern Ireland)
TIGERBOND IRELAND LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
PAGES FOR FILING WITH REGISTRAR
TIGERBOND IRELAND LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 7
TIGERBOND IRELAND LTD
BALANCE SHEET
AS AT 31 JULY 2024
31 July 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
696
154
Current assets
Debtors
5
69,057
64,476
Cash at bank and in hand
72,329
63,979
141,386
128,455
Creditors: amounts falling due within one year
6
(61,240)
(57,571)
Net current assets
80,146
70,884
Total assets less current liabilities
80,842
71,038
Creditors: amounts falling due after more than one year
7
(8,333)
(18,333)
Provisions for liabilities
(118)
-
0
Net assets
72,391
52,705
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss reserves
71,391
51,705
Total equity
72,391
52,705

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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

The financial statements were approved by the board of directors and authorised for issue on 31 January 2025 and are signed on its behalf by:
Ms L Woods
Director
Company Registration No. NI664010
TIGERBOND IRELAND LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
- 2 -
1
Accounting policies
Company information

Tigerbond Ireland Ltd is a private company limited by shares incorporated in Northern Ireland. The registered office is River House, 48-60 High Street, Belfast, United Kingdom, BT1 2BE.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The directors are required to prepare the statutory financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

 

In satisfaction of this responsibility, they have reviewed the current and future financial position of the company and its ability to meet its liabilities as they fall due. This assessment considers the company’s principal risks and uncertainties.

 

Following their review, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

 

As such, the directors consider that it is appropriate to prepare the financial statements on the going concern basis.

 

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for integrated marketing and communication services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

 

Turnover is recognised when the service is provided with a deferment or accrual of income where appropriate to reflect this.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
20% Straight Line
Computers
25% Straight Line
TIGERBOND IRELAND LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 3 -

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ 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 debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

TIGERBOND IRELAND LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 4 -
1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

TIGERBOND IRELAND LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 5 -
2
Judgements and key sources of estimation uncertainty

The preparation of financial statements requires management to make judgements, estimates and assumptions that affect the application of accounting policies and reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates. Estimates and assumptions are reviewed on an ongoing basis and revisions to estimates are recognised in the period in which the estimate is revised and in any future periods affected.

 

The directors are of the opinion there are no matters of significant judgement and estimation which are material to the financial statements.

Critical judgements

The following judgements have had the most significant effect on amounts recognised in the financial statements.

Revenue

Recognised amounts of revenues and related accrued or deferred income reflect management’s best estimate of each project's outcome and stage of completion. Estimates of revenues or stage of completion are revised as circumstances change. Any resulting increases or decreases in estimates are reflected in profit or loss in the period in which the circumstances that give rise to the revision become known by management.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
4
4
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 August 2023
3,055
Additions
928
At 31 July 2024
3,983
Depreciation and impairment
At 1 August 2023
2,901
Depreciation charged in the year
386
At 31 July 2024
3,287
Carrying amount
At 31 July 2024
696
At 31 July 2023
154
TIGERBOND IRELAND LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 6 -
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
60,807
61,860
Other debtors
8,250
2,398
69,057
64,258
2024
2023
Amounts falling due after more than one year:
£
£
Deferred tax asset
-
0
218
Total debtors
69,057
64,476
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
10,000
10,000
Trade creditors
4,934
2,867
Amounts owed to group undertakings
525
40
Corporation tax
10,845
9,745
Other taxation and social security
24,241
23,839
Other creditors
10,695
11,080
61,240
57,571
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
8,333
18,333

Bank loans are unsecured and repayable in monthly instalments with the final repayment due in 2026.

8
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
Alan Brown
Statutory Auditor:
Azets Audit Services
TIGERBOND IRELAND LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 7 -
9
Related party transactions
Transactions with related parties

During the year the company entered into the following transactions with related parties:

Included in creditors at 31 July 2024 is £525 (2023 - £40) due to Tigerbond Group Limited and included in debtors is £3,160 (2023 - £12,320) due from Tigerbond Group Limited. Sales to Tigerbond Group Limited amounted to £46,750 in the year (2023 - £55,850).

10
Controlling party

The immediate parent company is Tigerbond Group Limited, who own 70% of the issued share capital.

The ultimate parent company is Tigerbond Holdings Limited, a company registered in England and Wales.

 

Tigerbond Holdings Limited is under the control of Laurna Woods by virtue of her shareholding in the company.

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