FOR THE YEAR ENDED 31 DECEMBER 2024
TIGER U.K. (MIDLANDS) LIMITED
COMPANY INFORMATION
TIGER U.K. (MIDLANDS) LIMITED
CONTENTS
TIGER U.K. (MIDLANDS) LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
Tiger UK (Midlands) Limited is a variety and seasonal retailer offering a broad range of primarily own branded, own designed products with an assortment of categories ranging from hobby, home, party, toys, electronic and gadgets to food and fashion accessories, with the products having a distinct Scandinavian design.
Tiger UK (Midlands) Limited is part of the Zebra A/S group. The group operates more than 1,000 stores across the world. The head office and international business development team are based in Denmark.
Tiger UK (Midlands) Limited is part of the Zebra A/S group. The group operates more than 1,000 stores across the world. The head office and international business development team are based in Denmark.
The principal activity of the company during the year continued to be the sale of goods through its retail stores located throughout the Midlands. In 2024, the activities in Tiger U.K. (Midlands) Limited were transferred to Tiger Retail Limited, adding all Flying Tiger Copenhagen stores located in the Midlands to Tiger Retail Limited.
The directors constantly monitor the risks and uncertainties facing the company and believe that the following risks are relevant as this time:
CURRENCY RISK
The UK business has limited direct exposure to movement in the foreign exchange as this is primarily managed by the parent. Goods are sourced in USD but are purchased locally in GBP at a pre agreed price. Any fluctuations are monitored by the parent company.
LIQUIDITY RISK
The liquidity position is closely monitored and regularly reviewed by local management and the parent company treasury team. This review covers all elements that impact cashflow and any actions to reduce related risks.
INTEREST RATE RISK
Local company borrowings are exposed to the risk of fluctuations in interest rates. Where applicable, the local management team continue to work closely with the parent treasury function in order to monitor this risk and attempt to mitigate these risks where possible.
SUPPLY CHAIN DISRUPTIONS
Disruption to our supply chain, both inbound to our warehouses as well as outbound from our warehouses to stores, may cause product shortage and/or longer lead times. This may have a negative impact on our reputation as well as our ability to meet demand, which can negatively impact our financial results. To mitigate such potentially negative impacts, Zebra constantly monitors the supply chain and continues to invest in and build sourcing and supply chain systems, processes and capabilities and holds a marine cargo insurance policy.
CURRENCY RISK
The UK business has limited direct exposure to movement in the foreign exchange as this is primarily managed by the parent. Goods are sourced in USD but are purchased locally in GBP at a pre agreed price. Any fluctuations are monitored by the parent company.
LIQUIDITY RISK
The liquidity position is closely monitored and regularly reviewed by local management and the parent company treasury team. This review covers all elements that impact cashflow and any actions to reduce related risks.
INTEREST RATE RISK
Local company borrowings are exposed to the risk of fluctuations in interest rates. Where applicable, the local management team continue to work closely with the parent treasury function in order to monitor this risk and attempt to mitigate these risks where possible.
SUPPLY CHAIN DISRUPTIONS
Disruption to our supply chain, both inbound to our warehouses as well as outbound from our warehouses to stores, may cause product shortage and/or longer lead times. This may have a negative impact on our reputation as well as our ability to meet demand, which can negatively impact our financial results. To mitigate such potentially negative impacts, Zebra constantly monitors the supply chain and continues to invest in and build sourcing and supply chain systems, processes and capabilities and holds a marine cargo insurance policy.
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TIGER U.K. (MIDLANDS) LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
The activities of Tiger U.K. (Midlands) Limited were transferred to Tiger Retail Limited on 1 June 2024, adding all Flying Tiger Copenhagen sotres located in the Midlands to Tiger Retail Limited. As a result, there is no direct comparison between 2023 and 2024 results for the full year.
The turnover for the first 5 months of 2024 was £5.4 million, showing flat sales compared to the first 5 months of 2023.
The gross margin for the first 5 months of 2024 was 68.7%, compared to 64% in 2023. This reflects that product lifecycle stock management process which ensures that customers can experience and shop our new range monthly.
The directors and management review regularly key performance indicators relating to occupancy costs, store salary and general overheads. Monthly business review calls are held with the Group Head of Retail and Head of Finance to ensure accountability and strong financial rigour in accordance with group governance guidelines.
This report was approved by the board on 9 September 2025 and signed on its behalf.
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TIGER U.K. (MIDLANDS) LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The directors present their report and the financial statements for the year ended 31 December 2024.
The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Company's financial statements and then apply them consistently;
∙make judgments and accounting estimates that are reasonable and prudent;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The profit for the year, after taxation, amounted to £114,124 (2023: £654,979).
The directors do not recommend a final dividend (2023: £Nil).
The directors who served during the year were:
Following the transfer of the company’s trade and assets to Tiger Retail Limited on 1 June 2024, the company has now ceased to trade.
The directors have a reasonable expectation that the Company will be liquidated and cease to continue in operational existence within the period of at least twelve months from the date of approval of these financial statements. However, the date of liquidation has not yet been decided. As a result, the directors have prepared the financial statements on a basis other than going concern, but no adjustments were necessary to the amounts at which the remaining net assets are included in these financial statements.
The directors have a reasonable expectation that the Company will be liquidated and cease to continue in operational existence within the period of at least twelve months from the date of approval of these financial statements. However, the date of liquidation has not yet been decided. As a result, the directors have prepared the financial statements on a basis other than going concern, but no adjustments were necessary to the amounts at which the remaining net assets are included in these financial statements.
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TIGER U.K. (MIDLANDS) LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
The Introduction of Atobi during 2022 provides a single platform of communication for all our employees. We also undertake bi annual engagement surveys to ensure that our employees are fully engaged and ready to provide the best experience for our loyal customers.
The Directors acknowledge and appreciate the strong and supportive relationship established with its suppliers over the years.
During the year, it continued to strengthen its Social Media presence across all platforms and collaborated with a number of influencers to engage with customers ensuring that customer feedback and engagement are critical for the success of the business.
During the year, it continued to strengthen its Social Media presence across all platforms and collaborated with a number of influencers to engage with customers ensuring that customer feedback and engagement are critical for the success of the business.
There are no significant post balance sheet events to report other than those disclosed in note 21.
The auditors, Bishop Fleming Audit Limited, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board and signed on its behalf.
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TIGER U.K. (MIDLANDS) LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF TIGER U.K. (MIDLANDS) LIMITED
We have audited the financial statements of Tiger U.K. (Midlands) Limited (the 'Company') for the year ended 31 December 2024, which comprise the Statement of Comprehensive Income, the Statement of Financial Position, the Statement of Changes in Equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
We draw attention to note 2.3 in the financial statements, which explains that the company has ceased to
trade during the year, and the directors have a reasonable expectation that the Company will be liquidated and cease to continue in operational existence within a period of twelve months from the date of approval of these financial statements. As such the directors do not consider it appropriate to adopt the going concern basis of
accounting in preparing the financial statements. Accordingly the financial statements have been prepared on a
basis other than going concern as described in note 2.3. Our opinion is not modified in respect of this matter.
trade during the year, and the directors have a reasonable expectation that the Company will be liquidated and cease to continue in operational existence within a period of twelve months from the date of approval of these financial statements. As such the directors do not consider it appropriate to adopt the going concern basis of
accounting in preparing the financial statements. Accordingly the financial statements have been prepared on a
basis other than going concern as described in note 2.3. Our opinion is not modified in respect of this matter.
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
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TIGER U.K. (MIDLANDS) LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF TIGER U.K. (MIDLANDS) LIMITED (CONTINUED)
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report.
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TIGER U.K. (MIDLANDS) LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF TIGER U.K. (MIDLANDS) LIMITED (CONTINUED)
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and noncompliance with laws and regulations, we considered the following:
∙the nature of the industry and sector, control environment and business performance;
∙results of our enquiries of management and the board about their own identification and assessment of the risks of irregularities;
∙any matters we identified having obtained and reviewed the company’s documentation of their policies and procedures relating to:
°identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance;
°detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud;
°the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations; and the matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud.
As a result of these procedures, we considered the opportunities and incentives that may exist within the company for fraud, which included incorrect recognition of revenue and management override of controls using manual journal entries, and these were identified as the greatest potential area for fraud.
In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override.
We also obtained an understanding of the legal and regulatory frameworks that the company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included FRS 102, the UK Companies Act and the relevant direct and indirect tax legislation.
In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the company’s ability to operate or to avoid a material penalty. These included relevant food labelling, occupational health and safety regulations, Coronavirus Job Retention Scheme, GDPR and employment legislation.
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TIGER U.K. (MIDLANDS) LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF TIGER U.K. (MIDLANDS) LIMITED (CONTINUED)
Our procedures to respond to risks identified included the following:
∙reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;
∙reviewing the financial statement disclosures and testing to supporting documentation to assess the recognition of revenue;
∙enquiring of management and those charged with governance concerning actual and potential litigation and claims
∙performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;
∙reading minutes of meetings of those charged with governance; and
∙in addressing the risk of fraud through management override of controls:
°testing the appropriateness of journal entries and other adjustments; and
°assessing whether the judgements made in making accounting estimates are indicative of a potential bias.
We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members, and remained alert to any indications of fraud or non-compliance with laws and regulations throughou the audit.
Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from an error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.
This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Chartered Accountants
Statutory Auditors
1-3 College Yard
WR1 2LB
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TIGER U.K. (MIDLANDS) LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2024
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TIGER U.K. (MIDLANDS) LIMITED
REGISTERED NUMBER:08702161
STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 12 to 24 form part of these financial statements.
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TIGER U.K. (MIDLANDS) LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
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TIGER U.K. (MIDLANDS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Tiger U.K. (Midlands) Limited is a private company, limited by shares, incorporated in England & Wales and domiciled in England.
The company's registered number is 08702161 and registered office is 22 Tottenham Court Road, London W1T 1BJ.
Tiger UK (Midlands) Limited ("Tiger") is a variety and seasonal retailer offering a broad range of primarily own-branded, own-designed products with an assortment of categories ranging from hobby, home, party, toys, electronic and gadgets to food and fashion accessories, with the products having a distinct Scandinavian design.
The company's registered number is 08702161 and registered office is 22 Tottenham Court Road, London W1T 1BJ.
Tiger UK (Midlands) Limited ("Tiger") is a variety and seasonal retailer offering a broad range of primarily own-branded, own-designed products with an assortment of categories ranging from hobby, home, party, toys, electronic and gadgets to food and fashion accessories, with the products having a distinct Scandinavian design.
On 31 May 2024, the Company ceased to trade and net assets in Tiger U.K. (Midlands) Limited were transferred to Tiger Retail Limited, adding all Flying Tiger Copenhagen stores located in the Midlands to Tiger Retail Limited.
2.ACCOUNTING POLICIES
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).
The functional and presentational currency for the company is Sterling. The financial statements have been rounded to the nearest £1.
The following principal accounting policies have been applied:
The company has taken advantage of the following disclosure exemptions under FRS 102 as it is part of the Zebra A/S group of companies:
(a) the requirement of section 4 Statement of Financial Position paragraph 4.12(a)(iv) to disclose a reconciliation of the number of shares outstanding at the beginning and at the end of the period;
(b) the requirements of section 7 Statement of Cash Flows and section 3 Financial Statement Presentation paragraph 3.17(d) to disclose a statement of cash flows;
(c) the requirement of section 33 - Related Party Disclosures, paragraph 33.7 to disclose key management personnel compensation in total;
(d) the requirements of section 11 Basic Financial Instruments paragraphs 11.41(b), 11.41(c) and 11.42 in respect of the disclosure of the totals of financial instruments measured at amortised cost and details of the terms and conditions of debt instruments.
(a) the requirement of section 4 Statement of Financial Position paragraph 4.12(a)(iv) to disclose a reconciliation of the number of shares outstanding at the beginning and at the end of the period;
(b) the requirements of section 7 Statement of Cash Flows and section 3 Financial Statement Presentation paragraph 3.17(d) to disclose a statement of cash flows;
(c) the requirement of section 33 - Related Party Disclosures, paragraph 33.7 to disclose key management personnel compensation in total;
(d) the requirements of section 11 Basic Financial Instruments paragraphs 11.41(b), 11.41(c) and 11.42 in respect of the disclosure of the totals of financial instruments measured at amortised cost and details of the terms and conditions of debt instruments.
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TIGER U.K. (MIDLANDS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.ACCOUNTING POLICIES (CONTINUED)
Following the transfer of the company’s trade and assets to Tiger Retail Limited on 1 June 2024, the company has now ceased to trade.
The directors have a reasonable expectation that the Company will be liquidated and cease to continue in operational existence within the period of at least twelve months from the date of approval of these financial statements. However, the date of liquidation has not yet been decided. As a result, the directors have prepared the financial statements on a basis other than going concern, but no adjustments were necessary to the amounts at which the remaining net assets are included in these financial statements.
The directors have a reasonable expectation that the Company will be liquidated and cease to continue in operational existence within the period of at least twelve months from the date of approval of these financial statements. However, the date of liquidation has not yet been decided. As a result, the directors have prepared the financial statements on a basis other than going concern, but no adjustments were necessary to the amounts at which the remaining net assets are included in these financial statements.
Functional and presentation currency
Transactions and balances
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation of year end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in th income statement.
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.
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TIGER U.K. (MIDLANDS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.ACCOUNTING POLICIES (CONTINUED)
At inception the company assesses agreements that transfer the right to use assets. The assessment considers whether the arrangement is, or contains, a lease based on the substance of the arrangement.
Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet and are depreciated over the shorter of the lease term and the asset's useful lives. A corresponding liability is recognised for the lower of the fair value of the leased asset and the present value of the minimum lease payments in the balance sheet. Lease payments are apportioned between the reduction of the lease liability and finance charges in the income statement so as to achieve a constant rate of interest on the remaining balance of the liability.
Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet and are depreciated over the shorter of the lease term and the asset's useful lives. A corresponding liability is recognised for the lower of the fair value of the leased asset and the present value of the minimum lease payments in the balance sheet. Lease payments are apportioned between the reduction of the lease liability and finance charges in the income statement so as to achieve a constant rate of interest on the remaining balance of the liability.
Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure.
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TIGER U.K. (MIDLANDS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.ACCOUNTING POLICIES (CONTINUED)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
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.
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TIGER U.K. (MIDLANDS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.ACCOUNTING POLICIES (CONTINUED)
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.
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TIGER U.K. (MIDLANDS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.ACCOUNTING POLICIES (CONTINUED)
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.
For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the reporting date.
Financial assets and liabilities are offset and the net amount reported in the Statement of Financial Position when there is an 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.
For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the reporting date.
Financial assets and liabilities are offset and the net amount reported in the Statement of Financial Position when there is an 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.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period of the revision and future periods if the revision affects both current and future periods
The Directors consider that there are no signifcant judgements or estimates that relate to the company.
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TIGER U.K. (MIDLANDS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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TIGER U.K. (MIDLANDS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
There were no factors that may affect future tax charges.
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