Registration number:
Tungsten Buckingham Limited
for the Period from 5 March 2022 to 28 February 2023
Tungsten Buckingham Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Tungsten Buckingham Limited
Company Information
Directors |
D. J. Sear-Mayes J. D. Penman |
Registered office |
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Accountants |
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Tungsten Buckingham Limited
(Registration number: 13956815)
Balance Sheet as at 28 February 2023
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2023 |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Retained earnings |
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Shareholders' funds |
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For the financial period ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
For the financial period ending 28 February 2023 the company was entitled to exemption from audit under section 479A of the Companies Act 2006 relating to subsidiary companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Tungsten Buckingham Limited
(Registration number: 13956815)
Balance Sheet as at 28 February 2023
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
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Tungsten Buckingham Limited
Notes to the Unaudited Financial Statements for the Period from 5 March 2022 to 28 February 2023
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
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 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Judgements
Going concern; the directors have used a degree of judgement in forecasting results beyond the immediate future. |
Tungsten Buckingham Limited
Notes to the Unaudited Financial Statements for the Period from 5 March 2022 to 28 February 2023
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of commercial developments in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.
The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.
Turnover from a contract is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
- the amount of turnover can be measured reliably;
- it is probable that the company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.
Contract revenue recognition
Turnover and profits on long term contracts are recognised in proportion to the stage of completion reached when the outcome of the contract can be assessed with reasonable certainty. The directors have used the input method on percentage of completion for recognition of long term contract turnover.
The accounting treatments are:
- amounts recoverable on contracts are included within debtors;
- amounts invoiced in excess of amounts recoverable on contracts are included within creditors;
- forseeable losses are included within creditors;
- costs to complete are included within creditors;
- costs, net of amounts transferred to cost of sales, are included within work in progress.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the debtors.
Tungsten Buckingham Limited
Notes to the Unaudited Financial Statements for the Period from 5 March 2022 to 28 February 2023
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Staff numbers |
The average number of persons employed by the company (including directors) during the period, was
Debtors |
Current |
2023 |
Other debtors and prepayments |
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Creditors |
Creditors: amounts falling due within one year
2023 |
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Due within one year |
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Amounts owed to group undertakings |
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Tungsten Buckingham Limited
Notes to the Unaudited Financial Statements for the Period from 5 March 2022 to 28 February 2023
Share capital |
Allotted, called up and fully paid shares
2023 |
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No. |
£ |
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100 |
Parent and ultimate parent undertaking |
The company's immediate parent is
The most senior parent entity producing publicly available financial statements is