Company Registration No. 13723405 (England and Wales)
TUUNGAFASI LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
PAGES FOR FILING WITH REGISTRAR
TUUNGAFASI LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
TUUNGAFASI LIMITED
BALANCE SHEET
AS AT 30 NOVEMBER 2023
30 November 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investment property
3
224,456
224,456
Current assets
Debtors
4
606
606
Cash at bank and in hand
777
3,507
1,383
4,113
Creditors: amounts falling due within one year
5
(237,593)
(232,593)
Net current liabilities
(236,210)
(228,480)
Net liabilities
(11,754)
(4,024)
Capital and reserves
Called up share capital
6
200
200
Profit and loss reserves
(11,954)
(4,224)
Total equity
(11,754)
(4,024)

For the financial year ended 30 November 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 of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 30 August 2024 and are signed on its behalf by:
Mrs W B Robinson
Director
Company registration number 13723405 (England and Wales)
TUUNGAFASI LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 2 -
1
Accounting policies
Company information

Tuungafasi Limited is a private company limited by shares incorporated in England and Wales. The registered office is 1 Knights Court, Archers Way, Battlefield Enterprise Park, Shrewsbury, Shropshire, SY1 3GA.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
-
0
-
0
TUUNGAFASI LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 3 -
3
Investment property
2023
£
Fair value
At 1 December 2022 and 30 November 2023
224,456

Investment property comprises a residential property acquired in March 2022. The fair value of the investment property has been arrived at on the basis of a valuation carried out at 30 November 2023 by Mr T. Robinson a director of the company. The fair value of the property is deemed to be the same as the historical cost.

4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
606
606
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
283
283
Other creditors
237,310
232,310
237,593
232,593
6
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
Ordinary 'A' shares of £1 each
100
100
100
100
200
200
200
200
2023-11-302022-12-01false30 August 2024CCH SoftwareCCH Accounts Production 2024.200No description of principal activityMrs W B RobinsonMr T Robinsonfalsefalse137234052022-12-012023-11-30137234052023-11-30137234052022-11-3013723405core:CurrentFinancialInstrumentscore:WithinOneYear2023-11-3013723405core:CurrentFinancialInstrumentscore:WithinOneYear2022-11-3013723405core:CurrentFinancialInstruments2023-11-3013723405core:CurrentFinancialInstruments2022-11-3013723405core:ShareCapital2023-11-3013723405core:ShareCapital2022-11-3013723405core:RetainedEarningsAccumulatedLosses2023-11-3013723405core:RetainedEarningsAccumulatedLosses2022-11-3013723405core:ShareCapitalOrdinaryShares2023-11-3013723405core:ShareCapitalOrdinaryShares2022-11-3013723405bus:Director12022-12-012023-11-30137234052021-11-042022-11-30137234052022-11-3013723405core:WithinOneYear2023-11-3013723405core:WithinOneYear2022-11-3013723405bus:PrivateLimitedCompanyLtd2022-12-012023-11-3013723405bus:SmallCompaniesRegimeForAccounts2022-12-012023-11-3013723405bus:FRS1022022-12-012023-11-3013723405bus:AuditExemptWithAccountantsReport2022-12-012023-11-3013723405bus:Director22022-12-012023-11-3013723405bus:FullAccounts2022-12-012023-11-30xbrli:purexbrli:sharesiso4217:GBP