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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
Page
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Tungsten Carbide Solutions Ltd Company Information for the year ended 30 June 2023
Directors
Mrs R Brookes Mrs A Lawson
Secretary
Mrs R Brookes
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
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Tungsten Carbide Solutions Ltd Statement of financial position as at 30 June 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
14,207 
15,333 
Current assets
Inventories
51,301 
52,360 
Debtors
51,942 
49,490 
Cash at bank and in hand
114,741 
109,409 
217,984 
211,259 
Creditors: amounts falling due within one year
(85,613)
(102,225)
Net current assets
132,371 
109,034 
Net assets
146,578 
124,367 
Capital and reserves
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
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Tungsten Carbide Solutions Ltd Notes to the Accounts for the year ended 30 June 2023
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
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
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.
Foreign currencies
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.
Leased assets
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.
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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 
Additions
- 
857 
857 
At 30 June 2023
25,570 
8,252 
33,822 
Depreciation
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 
Net book value
At 30 June 2023
11,296 
2,911 
14,207 
At 30 June 2022
12,551 
2,782 
15,333 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
50,540 
48,053 
Accrued income and prepayments
1,402 
1,437 
51,942 
49,490 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
11,916 
11,731 
Trade creditors
17,950 
5,659 
Taxes and social security
9,314 
2,880 
Other creditors
59 
223 
Loans from directors
21,921 
57,608 
Accruals
24,453 
24,124 
85,613 
102,225 
7
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
8
Average number of employees
During the year the average number of employees was 2 (2022: 2).
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