Silverfin false 28/02/2023 01/03/2022 28/02/2023 D Azzeddin 14/12/1992 M A Azzeddin 30 October 2023 The principal activity of the Company during the financial year is that of property management and construction. 02753333 2023-02-28 02753333 bus:Director1 2023-02-28 02753333 2022-02-28 02753333 core:CurrentFinancialInstruments 2023-02-28 02753333 core:CurrentFinancialInstruments 2022-02-28 02753333 core:ShareCapital 2023-02-28 02753333 core:ShareCapital 2022-02-28 02753333 core:RetainedEarningsAccumulatedLosses 2023-02-28 02753333 core:RetainedEarningsAccumulatedLosses 2022-02-28 02753333 core:Vehicles 2022-02-28 02753333 core:OfficeEquipment 2022-02-28 02753333 core:Vehicles 2023-02-28 02753333 core:OfficeEquipment 2023-02-28 02753333 2022-03-01 2023-02-28 02753333 bus:FullAccounts 2022-03-01 2023-02-28 02753333 bus:SmallEntities 2022-03-01 2023-02-28 02753333 bus:AuditExemptWithAccountantsReport 2022-03-01 2023-02-28 02753333 bus:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 02753333 bus:Director1 2022-03-01 2023-02-28 02753333 bus:Director2 2022-03-01 2023-02-28 02753333 core:Vehicles 2022-03-01 2023-02-28 02753333 core:OfficeEquipment core:TopRangeValue 2022-03-01 2023-02-28 02753333 2021-03-01 2022-02-28 02753333 core:OfficeEquipment 2022-03-01 2023-02-28 iso4217:GBP xbrli:pure

Company No: 02753333 (England and Wales)

TULSEGLEN CONSTRUCTION LIMITED

Unaudited Financial Statements
For the financial year ended 28 February 2023
Pages for filing with the registrar

TULSEGLEN CONSTRUCTION LIMITED

Unaudited Financial Statements

For the financial year ended 28 February 2023

Contents

TULSEGLEN CONSTRUCTION LIMITED

BALANCE SHEET

As at 28 February 2023
TULSEGLEN CONSTRUCTION LIMITED

BALANCE SHEET (continued)

As at 28 February 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 7,819 5,875
7,819 5,875
Current assets
Stocks 4 88,000 435,277
Debtors 5 29,308 131,295
Cash at bank and in hand 375,229 73,478
492,537 640,050
Creditors: amounts falling due within one year 6 ( 463,510) ( 613,020)
Net current assets 29,027 27,030
Total assets less current liabilities 36,846 32,905
Net assets 36,846 32,905
Capital and reserves
Called-up share capital 2 2
Profit and loss account 36,844 32,903
Total shareholders' funds 36,846 32,905

For the financial year ending 28 February 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Tulseglen Construction Limited (registered number: 02753333) were approved and authorised for issue by the Board of Directors on 30 October 2023. They were signed on its behalf by:

D Azzeddin
Director
TULSEGLEN CONSTRUCTION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 28 February 2023
TULSEGLEN CONSTRUCTION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 28 February 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Tulseglen Construction Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 23 Huntly Road, Talbot Woods, Bournemouth, BH3 7HF, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer. Revenue from services is recognised as they are delivered.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Vehicles 20 % reducing balance
Office equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 4 4

3. Tangible assets

Vehicles Office equipment Total
£ £ £
Cost
At 01 March 2022 18,500 10,921 29,421
Additions 0 3,947 3,947
Disposals 0 ( 3,916) ( 3,916)
At 28 February 2023 18,500 10,952 29,452
Accumulated depreciation
At 01 March 2022 13,500 10,046 23,546
Charge for the financial year 1,000 548 1,548
Disposals 0 ( 3,461) ( 3,461)
At 28 February 2023 14,500 7,133 21,633
Net book value
At 28 February 2023 4,000 3,819 7,819
At 28 February 2022 5,000 875 5,875

4. Stocks

2023 2022
£ £
Work in progress 88,000 435,277

5. Debtors

2023 2022
£ £
Trade debtors 0 7
Other debtors 29,308 131,288
29,308 131,295

6. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 30,446 2,838
Amounts owed to directors 163,596 216,683
Other loans 260,209 370,208
Accruals 4,817 6,101
Corporation tax 2,209 930
Other taxation and social security 2,086 16,113
Other creditors 147 147
463,510 613,020