2023-08-012024-07-312024-07-31false10903600TUNGSTEN CORPORATE SOLUTIONS LIMITED2024-10-23iso4217:GBPxbrli:pure109036002023-08-01109036002024-07-31109036002023-08-012024-07-31109036002022-08-01109036002023-07-31109036002022-08-012023-07-3110903600bus:SmallEntities2023-08-012024-07-3110903600bus:AuditExempt-NoAccountantsReport2023-08-012024-07-3110903600bus:FullAccounts2023-08-012024-07-3110903600bus:PrivateLimitedCompanyLtd2023-08-012024-07-3110903600core:WithinOneYear2024-07-3110903600core:AfterOneYear2024-07-3110903600core:WithinOneYear2023-07-3110903600core:AfterOneYear2023-07-3110903600core:ShareCapital2024-07-3110903600core:SharePremium2024-07-3110903600core:RevaluationReserve2024-07-3110903600core:OtherReservesSubtotal2024-07-3110903600core:RetainedEarningsAccumulatedLosses2024-07-3110903600core:ShareCapital2023-07-3110903600core:SharePremium2023-07-3110903600core:RevaluationReserve2023-07-3110903600core:OtherReservesSubtotal2023-07-3110903600core:RetainedEarningsAccumulatedLosses2023-07-3110903600core:LandBuildings2024-07-3110903600core:PlantMachinery2024-07-3110903600core:Vehicles2024-07-3110903600core:FurnitureFittings2024-07-3110903600core:OfficeEquipment2024-07-3110903600core:NetGoodwill2024-07-3110903600core:IntangibleAssetsOtherThanGoodwill2024-07-3110903600core:ListedExchangeTraded2024-07-3110903600core:UnlistedNon-exchangeTraded2024-07-3110903600core:LandBuildings2023-07-3110903600core:PlantMachinery2023-07-3110903600core:Vehicles2023-07-3110903600core:FurnitureFittings2023-07-3110903600core:OfficeEquipment2023-07-3110903600core:NetGoodwill2023-07-3110903600core:IntangibleAssetsOtherThanGoodwill2023-07-3110903600core:ListedExchangeTraded2023-07-3110903600core:UnlistedNon-exchangeTraded2023-07-3110903600core:LandBuildings2023-08-012024-07-3110903600core:PlantMachinery2023-08-012024-07-3110903600core:Vehicles2023-08-012024-07-3110903600core:FurnitureFittings2023-08-012024-07-3110903600core:OfficeEquipment2023-08-012024-07-3110903600core:NetGoodwill2023-08-012024-07-3110903600core:IntangibleAssetsOtherThanGoodwill2023-08-012024-07-3110903600core:ListedExchangeTraded2023-08-012024-07-3110903600core:UnlistedNon-exchangeTraded2023-08-012024-07-3110903600core:MoreThanFiveYears2023-08-012024-07-3110903600core:Non-currentFinancialInstruments2024-07-3110903600core:Non-currentFinancialInstruments2023-07-3110903600dpl:CostSales2023-08-012024-07-3110903600dpl:DistributionCosts2023-08-012024-07-3110903600core:LandBuildings2023-08-012024-07-3110903600core:PlantMachinery2023-08-012024-07-3110903600core:Vehicles2023-08-012024-07-3110903600core:FurnitureFittings2023-08-012024-07-3110903600core:OfficeEquipment2023-08-012024-07-3110903600dpl:AdministrativeExpenses2023-08-012024-07-3110903600core:NetGoodwill2023-08-012024-07-3110903600core:IntangibleAssetsOtherThanGoodwill2023-08-012024-07-3110903600dpl:GroupUndertakings2023-08-012024-07-3110903600dpl:ParticipatingInterests2023-08-012024-07-3110903600dpl:GroupUndertakingscore:ListedExchangeTraded2023-08-012024-07-3110903600core:ListedExchangeTraded2023-08-012024-07-3110903600dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2023-08-012024-07-3110903600core:UnlistedNon-exchangeTraded2023-08-012024-07-3110903600dpl:CostSales2022-08-012023-07-3110903600dpl:DistributionCosts2022-08-012023-07-3110903600core:LandBuildings2022-08-012023-07-3110903600core:PlantMachinery2022-08-012023-07-3110903600core:Vehicles2022-08-012023-07-3110903600core:FurnitureFittings2022-08-012023-07-3110903600core:OfficeEquipment2022-08-012023-07-3110903600dpl:AdministrativeExpenses2022-08-012023-07-3110903600core:NetGoodwill2022-08-012023-07-3110903600core:IntangibleAssetsOtherThanGoodwill2022-08-012023-07-3110903600dpl:GroupUndertakings2022-08-012023-07-3110903600dpl:ParticipatingInterests2022-08-012023-07-3110903600dpl:GroupUndertakingscore:ListedExchangeTraded2022-08-012023-07-3110903600core:ListedExchangeTraded2022-08-012023-07-3110903600dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-08-012023-07-3110903600core:UnlistedNon-exchangeTraded2022-08-012023-07-3110903600core:NetGoodwill2024-07-3110903600core:IntangibleAssetsOtherThanGoodwill2024-07-3110903600core:LandBuildings2024-07-3110903600core:PlantMachinery2024-07-3110903600core:Vehicles2024-07-3110903600core:FurnitureFittings2024-07-3110903600core:OfficeEquipment2024-07-3110903600core:AfterOneYear2024-07-3110903600core:WithinOneYear2024-07-3110903600core:ListedExchangeTraded2024-07-3110903600core:UnlistedNon-exchangeTraded2024-07-3110903600core:ShareCapital2024-07-3110903600core:SharePremium2024-07-3110903600core:RevaluationReserve2024-07-3110903600core:OtherReservesSubtotal2024-07-3110903600core:RetainedEarningsAccumulatedLosses2024-07-3110903600core:NetGoodwill2023-07-3110903600core:IntangibleAssetsOtherThanGoodwill2023-07-3110903600core:LandBuildings2023-07-3110903600core:PlantMachinery2023-07-3110903600core:Vehicles2023-07-3110903600core:FurnitureFittings2023-07-3110903600core:OfficeEquipment2023-07-3110903600core:AfterOneYear2023-07-3110903600core:WithinOneYear2023-07-3110903600core:ListedExch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TUNGSTEN CORPORATE SOLUTIONS LIMITED

Registered Number
10903600
(England and Wales)

Unaudited Financial Statements for the Year ended
31 July 2024

TUNGSTEN CORPORATE SOLUTIONS LIMITED
Company Information
for the year from 1 August 2023 to 31 July 2024

Directors

Michelle Perkins
David Johannes Scheeres
Darren James Talbot

Registered Address

Cardiff Arms Park
Westgate Street
Cardiff
CF10 1JA

Registered Number

10903600 (England and Wales)
TUNGSTEN CORPORATE SOLUTIONS LIMITED
Statement of Financial Position
31 July 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets370,851124,452
Tangible assets411,312522,518
82,163646,970
Current assets
Stocks515,000102,005
Debtors61,282,513655,518
Cash at bank and on hand7,50888,084
1,305,021845,607
Creditors amounts falling due within one year7(664,250)(948,508)
Net current assets (liabilities)640,771(102,901)
Total assets less current liabilities722,934544,069
Creditors amounts falling due after one year8(165,889)(305,368)
Provisions for liabilities9(3,049)(8,737)
Net assets553,996229,964
Capital and reserves
Called up share capital100100
Profit and loss account553,896229,864
Shareholders' funds553,996229,964
The financial statements were approved and authorised for issue by the Board of Directors on 23 October 2024, and are signed on its behalf by:
Darren James Talbot
Director
Registered Company No. 10903600
TUNGSTEN CORPORATE SOLUTIONS LIMITED
Notes to the Financial Statements
for the year ended 31 July 2024

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 compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
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.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Goodwill is amortised over five years.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Plant and machinery4
Fixtures and fittings4
Office Equipment4
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year1518
3.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 August 23268,004268,004
At 31 July 24268,004268,004
Amortisation and impairment
At 01 August 23143,552143,552
Charge for year53,60153,601
At 31 July 24197,153197,153
Net book value
At 31 July 2470,85170,851
At 31 July 23124,452124,452
4.Tangible fixed assets

Land & buildings

Vehicles

Fixtures & fittings

Office Equipment

Total

£££££
Cost or valuation
At 01 August 23487,59017,50025,00047,826577,916
Additions---1,9821,982
Disposals(487,590)(17,500)(25,000)-(530,090)
At 31 July 24---49,80849,808
Depreciation and impairment
At 01 August 23-10,93716,15528,30655,398
Charge for year-9323,14110,19014,263
On disposals-(11,869)(19,296)-(31,165)
At 31 July 24---38,49638,496
Net book value
At 31 July 24---11,31211,312
At 31 July 23487,5906,5638,84519,520522,518
5.Stocks

2024

2023

££
Work in progress15,000102,005
Total15,000102,005
6.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables198,579123,634
Amounts owed by associates and joint ventures / participating interests606,095444,052
Other debtors285,11020,830
Prepayments and accrued income192,72967,002
Total1,282,513655,518
7.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables92,64488,089
Bank borrowings and overdrafts149,334198,621
Amounts owed to related parties28-
Taxation and social security277,370236,212
Finance lease and HP contracts1,83517,470
Other creditors143,039402,659
Accrued liabilities and deferred income-5,457
Total664,250948,508
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.
8.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts165,889305,368
Total165,889305,368
9.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)3,0498,737
Total3,0498,737
10.Directors advances, credits and guarantees

Brought forward

Amount advanced

Amount repaid

Carried forward

££££
Michelle Perkins5,82080,628086,448
David Johannes Scheeres7,50085,082092,582
Darren James Talbot7,50089,495096,995
20,820255,2050276,025