2022-05-232023-05-312023-05-31false14124118Tuzolana 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Tuzolana Limited

Registered Number
14124118
(England and Wales)

Unaudited Financial Statements for the Period ended
31 May 2023

Tuzolana Limited
Company Information
for the period from 23 May 2022 to 31 May 2023

Directors

Matiti Massamba
Ronald Razak Massamba

Registered Address

27 Lordship Lane
London
N17 6RU

Registered Number

14124118 (England and Wales)
Tuzolana Limited
Statement of Financial Position
31 May 2023

Notes

2023

£

£

Current assets
Debtors4,796
Cash at bank and on hand1,154
5,950
Creditors amounts falling due within one year4(3,840)
Net current assets (liabilities)2,110
Total assets less current liabilities2,110
Net assets2,110
Capital and reserves
Called up share capital1
Profit and loss account2,109
Shareholders' funds2,110
The financial statements were approved and authorised for issue by the Board of Directors on 7 February 2024, and are signed on its behalf by:
Matiti Massamba
Director
Ronald Razak Massamba
Director

Registered Company No. 14124118
Tuzolana Limited
Notes to the Financial Statements
for the period ended 31 May 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. These critical accounting judgements and estimations are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. The critical judgements made by management that have a significant effect on the amounts recognised in the financial statements are described below.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit and loss. All other investments are subsequently measured at cost less impairment. Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment.
2.Average number of employees

2023
Average number of employees during the year0
3.Debtors: amounts due within one year

2023

£
Other debtors4,796
Total4,796
4.Creditors: amounts due within one year

2023

£
Taxation and social security2,840
Accrued liabilities and deferred income1,000
Total3,840
5.Directors advances, credits and guarantees
Included within other debtors falling due within one year is £4,796 being the amount owed by the director. Net amounts advanced during the year were £4,796. These amounts were both repaid within nine months of the financial year. The loans where charged the official rate of interest were applicable and were repayable on demand.