Tungsten Buckingham Limited 13956815 false 2022-03-05 2023-02-28 2023-02-28 The principal activity of the company is property development. Digita Accounts Production Advanced 6.30.9574.0 true true 13956815 2022-03-05 2023-02-28 13956815 2023-02-28 13956815 bus:OrdinaryShareClass1 bus:CumulativeRedeemableShares 2023-02-28 13956815 core:RetainedEarningsAccumulatedLosses 2023-02-28 13956815 core:ShareCapital 2023-02-28 13956815 core:CurrentFinancialInstruments 2023-02-28 13956815 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 13956815 bus:SmallEntities 2022-03-05 2023-02-28 13956815 bus:AuditExemptWithAccountantsReport 2022-03-05 2023-02-28 13956815 bus:FullAccounts 2022-03-05 2023-02-28 13956815 bus:SmallCompaniesRegimeForAccounts 2022-03-05 2023-02-28 13956815 bus:RegisteredOffice 2022-03-05 2023-02-28 13956815 bus:Director1 2022-03-05 2023-02-28 13956815 bus:Director2 2022-03-05 2023-02-28 13956815 bus:OrdinaryShareClass1 bus:CumulativeRedeemableShares 2022-03-05 2023-02-28 13956815 bus:PrivateLimitedCompanyLtd 2022-03-05 2023-02-28 13956815 1 2022-03-05 2023-02-28 13956815 countries:EnglandWales 2022-03-05 2023-02-28 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 13956815

Tungsten Buckingham Limited

Annual Report and Unaudited Financial Statements

for the Period from 5 March 2022 to 28 February 2023

 

Tungsten Buckingham Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Tungsten Buckingham Limited

Company Information

Directors

D. J. Sear-Mayes

J. D. Penman

Registered office

Gateway House
4 Penman Way
Grove Park
Leicester
LE19 1SY

Accountants

Robert Whowell & Partners LLP
Chartered Accountants
Westwood House
78 Loughborough Road
Quorn
Loughborough
Leicestershire
LE12 8DX

 

Tungsten Buckingham Limited

(Registration number: 13956815)
Balance Sheet as at 28 February 2023

Note

2023
£

Current assets

 

Debtors

4

100

Cash at bank and in hand

 

67

 

167

Creditors: Amounts falling due within one year

5

(100)

Net assets

 

67

Capital and reserves

 

Called up share capital

6

100

Retained earnings

(33)

Shareholders' funds

 

67

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:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

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 Board on 12 September 2023 and signed on its behalf by:
 

.........................................
D. J. Sear-Mayes
Director

 

Tungsten Buckingham Limited

Notes to the Unaudited Financial Statements for the Period from 5 March 2022 to 28 February 2023

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:
Gateway House
4 Penman Way
Grove Park
Leicester
LE19 1SY

These financial statements were authorised for issue by the Board on 12 September 2023.

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 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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2.

4

Debtors

Current

2023
£

Other debtors and prepayments

100

5

Creditors

Creditors: amounts falling due within one year

2023
£

Due within one year

Amounts owed to group undertakings

100

 

Tungsten Buckingham Limited

Notes to the Unaudited Financial Statements for the Period from 5 March 2022 to 28 February 2023

6

Share capital

Allotted, called up and fully paid shares

 

2023

 

No.

£

Ordinary shares of £1 each

100

100

     

7

Parent and ultimate parent undertaking

The company's immediate parent is Carbide Properties Limited, incorporated in England and Wales.

 The most senior parent entity producing publicly available financial statements is Carbide Properties Limited. These financial statements are available upon request from Gateway House, Penman Way, Grove Park, Leicester, LE19 1SY.