TigerTMS Limited

Contents

Balance Sheet	1
Notes to the Financial Statements	2 to 8

TigerTMS Limited

Balance Sheet

31 December 2024

	Note	2024 £	2023 £
Fixed assets
Intangible assets	4	1,979,833	2,363,026
Tangible assets	5	8,194	12,310
		1,988,027	2,375,336
Current assets
Stocks	7	10,266	12,629
Debtors	8	332,783	196,926
Cash at bank and in hand		360,759	96,053
		703,808	305,608
Creditors: Amounts falling due within one year	9	(2,018,713)	(1,728,427)
Net current liabilities		(1,314,905)	(1,422,819)
Total assets less current liabilities		673,122	952,517
Provisions for liabilities		(2,049)	(3,078)
Net assets		671,073	949,439
Capital and reserves
Called up share capital		100	100
Profit and loss account		670,973	949,339
Shareholders' funds		671,073	949,439

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 26 September 2025 and signed on its behalf by:
 

......................................... Mr K Howard Director

Company Registration Number: 12206972

TigerTMS Limited

Notes to the Financial Statements

Year Ended 31 December 2024

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:
12 Headlands Business Park
Salisbury Road
Blashford
Ringwood
Hampshire
BH24 3PB
Engand

These financial statements were authorised for issue by the Board on 26 September 2025.

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' including Section 1A and the Companies Act 2006. There are no material departures.

Basis of preparation

These financial statements have been prepared using the historical cost convention.

The functional currency of TigerTMS Limited is considered to be pounds sterling because this is the currency of the primary economic environment in which the company operates.

Going concern

The directors have considered forecasts for the period to 31 December 2025 and post year end performance. They are satisfied that the company has adequate resources available to continue in operational existence and discharge its obligations as they fall due for a period of at least 12 months from the date of approval of these financial statements. The directors have therefore adopted the going concern basis in preparing its financial statements.

TigerTMS Limited

Notes to the Financial Statements

Year Ended 31 December 2024

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 value added tax, returns, rebates and discounts and after eliminating sales within the company.

Licence revenue is recognised when software is delivered to the customer.

Installation revenue is recognised when the software is installed.

Support revenue is recognised on a straight line basis over the length of the support contract.

Other income comprises grants and management fees receivable.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

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 alos recognised directly in other comprehensive income.

The current corporation 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 on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

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:

TigerTMS Limited

Notes to the Financial Statements

Year Ended 31 December 2024

Asset class	Depreciation method and rate
Furniture, fittings and equipment	33% Straight line

Goodwill

Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Goodwill	10 years on a straight line basis

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

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.

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors; and
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

 

TigerTMS Limited

Notes to the Financial Statements

Year Ended 31 December 2024

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 27 (2023 - 30).

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 January 2024	3,831,933	3,831,933
At 31 December 2024	3,831,933	3,831,933
Amortisation
At 1 January 2024	1,468,907	1,468,907
Amortisation charge	383,193	383,193
At 31 December 2024	1,852,100	1,852,100
Carrying amount
At 31 December 2024	1,979,833	1,979,833
At 31 December 2023	2,363,026	2,363,026

TigerTMS Limited

Notes to the Financial Statements

Year Ended 31 December 2024

5	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 January 2024	12,348	12,348
At 31 December 2024	12,348	12,348
Depreciation
At 1 January 2024	38	38
Charge for the year	4,116	4,116
At 31 December 2024	4,154	4,154
Carrying amount
At 31 December 2024	8,194	8,194
At 31 December 2023	12,310	12,310

6	Investments

The company holds legal title to 100% of the ordinary share capital of TigerTMS GmbH, a company incorporated in Germany, with a registered office address of Königsallee 106, 40215 Düsseldorf, HRB 91321. However, the legal title of these shares is held in trust for the benefit of the parent company, TigerTMS Holdings Limited. The intention is to transfer legal title in due course.

TigerTMS Limited

Notes to the Financial Statements

Year Ended 31 December 2024

7

Stocks

	2024 £	2023 £
Other inventories	10,266	12,629

8

Debtors

	2024 £	2023 £
Trade debtors	241,062	173,692
Amounts owed by group undertakings	60,739	-
Prepayments	30,747	23,234
Other debtors	235	-
	332,783	196,926

9

Creditors

Creditors: amounts falling due within one year

	2024 £	2023 £
Due within one year
Trade creditors	24,101	14,116
Amounts owed to group undertakings	1,301,560	1,014,023
Taxation and social security	61,327	68,035
Accruals and deferred income	534,954	501,703
Other creditors	48,503	48,503
Corporation tax	48,268	82,047
	2,018,713	1,728,427

10	Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

	2024 £	2023 £
Not later than one year	23,780	25,060
Later than one year and not later than five years	33,162	57,007
	56,942	82,067

The amount of non-cancellable operating lease payments recognised as an expense during the year was £24,866 (2023 - £30,297).

TigerTMS Limited

Notes to the Financial Statements

Year Ended 31 December 2024

11	Parent undertaking

The company's immediate parent is TigerTMS Holdings Limited, incorporated in England and Wales. Their financial statements are available on Companies House.

The ultimate parent is Valsoft Corporation Inc., incorporated in Canada.

12	Audit report

The Independent Auditors' Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report was Robert Deare, who signed for and on behalf of PKF Francis Clark on 26 September 2025.