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REPORT OF THE DIRECTORS AND |
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JULY 2020 |
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TYGER VALLEY SYSTEMS LIMITED |
REGISTERED NUMBER:
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REPORT OF THE DIRECTORS AND |
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JULY 2020 |
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FOR |
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TYGER VALLEY SYSTEMS LIMITED |
TYGER VALLEY SYSTEMS LIMITED (REGISTERED NUMBER: 066399 |
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CONTENTS OF THE FINANCIAL STATEMENTS |
For The Year Ended 31st July 2020 |
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Company Information | 1 |
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Report of the Directors | 2 |
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Chartered Accountants' Report | 3 |
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Income Statement | 4 |
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Balance Sheet | 5 |
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Notes to the Financial Statements | 7 |
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TYGER VALLEY SYSTEMS LIMITED |
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COMPANY INFORMATION |
For The Year Ended 31st July 2020 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Bank House |
81 St Judes Road |
Englefield Green |
Surrey |
TW20 0DF |
TYGER VALLEY SYSTEMS LIMITED (REGISTERED NUMBER: 066399 |
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REPORT OF THE DIRECTORS |
For The Year Ended 31st July 2020 |
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The directors present their report with the financial statements of the company for the year ended 31st July 2020. |
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PRINCIPAL ACTIVITY |
The principal activity of the company in the year under review was that of the development and commercialisation of transcription-related software products and applications. |
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DIRECTORS |
The directors shown below have held office during the whole of the period from 1st August 2019 to the date of this report. |
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This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. |
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ON BEHALF OF THE BOARD: |
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CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
TYGER VALLEY SYSTEMS LIMITED |
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Tyger Valley Systems Limited for the year ended 31st July 2020 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us. |
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As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
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This report is made solely to the Board of Directors of Tyger Valley Systems Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Tyger Valley Systems Limited and state those matters that we have agreed to state to the Board of Directors of Tyger Valley Systems Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Tyger Valley Systems Limited and its Board of Directors, as a body, for our work or for this report. |
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It is your duty to ensure that Tyger Valley Systems Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Tyger Valley Systems Limited. You consider that Tyger Valley Systems Limited is exempt from the statutory audit requirement for the year. |
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We have not been instructed to carry out an audit or a review of the financial statements of Tyger Valley Systems Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
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Bank House |
81 St Judes Road |
Englefield Green |
Surrey |
TW20 0DF |
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TYGER VALLEY SYSTEMS LIMITED (REGISTERED NUMBER: 066399 |
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INCOME STATEMENT |
For The Year Ended 31st July 2020 |
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2020 | 2019 |
Notes | £ | £ |
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TURNOVER |
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Administrative expenses |
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OPERATING PROFIT and |
PROFIT BEFORE TAXATION |
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Tax on profit | 5 |
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PROFIT FOR THE FINANCIAL YEAR |
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TYGER VALLEY SYSTEMS LIMITED (REGISTERED NUMBER: 066399 |
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BALANCE SHEET |
31st July 2020 |
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2020 | 2019 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 6 |
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CURRENT ASSETS |
Debtors | 7 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 8 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
9 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 10 |
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Retained earnings | 11 |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
TYGER VALLEY SYSTEMS LIMITED (REGISTERED NUMBER: 066399 |
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BALANCE SHEET - continued |
31st July 2020 |
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The financial statements were approved by the Board of Directors and authorised for issue on
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TYGER VALLEY SYSTEMS LIMITED (REGISTERED NUMBER: 066399 |
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NOTES TO THE FINANCIAL STATEMENTS |
For The Year Ended 31st July 2020 |
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1. | STATUTORY INFORMATION |
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Tyger Valley Systems Limited is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due. Where a contract has only been partially completed at the balance sheet date turnover represents the value of the service provided to date based on a proportion of the total expected consideration at completion. |
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Where payments are received from customers in advance of services provided, the amounts are recorded as Deferred Income and included as part of Creditors due within one year. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
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Foreign currencies |
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 of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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TYGER VALLEY SYSTEMS LIMITED (REGISTERED NUMBER: 066399 |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 31st July 2020 |
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4. | OPERATING PROFIT |
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The operating profit is stated after charging: |
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2020 | 2019 |
£ | £ |
Depreciation - owned assets |
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5. | TAXATION |
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Analysis of the tax charge |
The tax charge on the profit for the year was as follows: |
2020 | 2019 |
£ | £ |
Current tax: |
UK corporation tax |
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Tax on profit |
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6. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Computer |
fittings | equipment | Totals |
£ | £ | £ |
COST |
At 1st August 2019 |
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Additions |
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At 31st July 2020 |
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DEPRECIATION |
At 1st August 2019 |
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Charge for year |
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At 31st July 2020 |
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NET BOOK VALUE |
At 31st July 2020 |
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At 31st July 2019 |
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7. |
DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2020 | 2019 |
£ | £ |
Directors' loan accounts | - | 2,659 |
TYGER VALLEY SYSTEMS LIMITED (REGISTERED NUMBER: 066399 |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 31st July 2020 |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Tax |
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Accruals and deferred income |
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9. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2020 | 2019 |
£ | £ |
Directors' loan accounts | 84 | - |
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10. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2020 | 2019 |
value: | £ | £ |
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Ordinary | £1 | 1 | 1 |
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Ordinary A | £1 | 1 | 1 |
2 | 2 |
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11. | RESERVES |
Retained |
earnings |
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At 1st August 2019 |
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Profit for the year |
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Dividends | ( |
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At 31st July 2020 |
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12. | RELATED PARTY DISCLOSURES |
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Included in creditors is an amount of £84 (2019 - £nil) owed to the company director and included in debtors is an amount of £nil (2019 - £2,659) owed by the company director. |
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These loans are unsecured, interest-free, of no fixed term and repayable on demand. |
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13. | ULTIMATE CONTROLLING PARTY |
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The controlling parties of the company are the directors. |