Company Registration No. 04626127 (England and Wales)
Tungsten Carbide Solutions Ltd
Unaudited accounts
for the year ended 30 June 2023
Tungsten Carbide Solutions Ltd
Unaudited accounts
Contents
Tungsten Carbide Solutions Ltd
Company Information
for the year ended 30 June 2023
Directors
Mrs R Brookes
Mrs A Lawson
Company Number
04626127 (England and Wales)
Registered Office
The Old School House
Stanford Bridge
Worcester
Worcs
WR6 6SP
Accountants
Helen J Senior
The Azaleas
Norchard, Crossway Green
Stourport
Worcs
DY13 9SN
Tungsten Carbide Solutions Ltd
Statement of financial position
as at 30 June 2023
Tangible assets
14,207
15,333
Cash at bank and in hand
114,741
109,409
Creditors: amounts falling due within one year
(85,613)
(102,225)
Net current assets
132,371
109,034
Net assets
146,578
124,367
Called up share capital
100
100
Profit and loss account
146,478
124,267
Shareholders' funds
146,578
124,367
For the year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 16 November 2023 and were signed on its behalf by
Mrs A Lawson
Director
Company Registration No. 04626127
Tungsten Carbide Solutions Ltd
Notes to the Accounts
for the year ended 30 June 2023
Tungsten Carbide Solutions Ltd is a private company, limited by shares, registered in England and Wales, registration number 04626127. The registered office is The Old School House, Stanford Bridge, Worcester, Worcs, WR6 6SP.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
10% reducing balance
Plant & machinery
20% reducing balance
Motor vehicles
25% reducing balance
Stocks and work-in-progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.
Monetary 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 rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Tungsten Carbide Solutions Ltd
Notes to the Accounts
for the year ended 30 June 2023
4
Tangible fixed assets
Land & buildings
Plant & machinery
Total
Cost or valuation
At cost
At cost
At 1 July 2022
25,570
7,395
32,965
At 30 June 2023
25,570
8,252
33,822
At 1 July 2022
13,019
4,613
17,632
Charge for the year
1,255
728
1,983
At 30 June 2023
14,274
5,341
19,615
At 30 June 2023
11,296
2,911
14,207
At 30 June 2022
12,551
2,782
15,333
Amounts falling due within one year
Trade debtors
50,540
48,053
Accrued income and prepayments
1,402
1,437
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Creditors: amounts falling due within one year
2023
2022
Trade creditors
17,950
5,659
Taxes and social security
9,314
2,880
Loans from directors
21,921
57,608
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
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Average number of employees
During the year the average number of employees was 2 (2022: 2).