Silverfin false false 29/02/2024 01/03/2023 29/02/2024 D Azzeddin 14/12/1992 M Azzeddin 06/10/1993 18 November 2024 The principal activity of the Company during the financial year is that of property management and construction. 02753333 2024-02-29 02753333 bus:Director1 2024-02-29 02753333 bus:Director2 2024-02-29 02753333 2023-02-28 02753333 core:CurrentFinancialInstruments 2024-02-29 02753333 core:CurrentFinancialInstruments 2023-02-28 02753333 core:ShareCapital 2024-02-29 02753333 core:ShareCapital 2023-02-28 02753333 core:RetainedEarningsAccumulatedLosses 2024-02-29 02753333 core:RetainedEarningsAccumulatedLosses 2023-02-28 02753333 core:Vehicles 2023-02-28 02753333 core:OfficeEquipment 2023-02-28 02753333 core:Vehicles 2024-02-29 02753333 core:OfficeEquipment 2024-02-29 02753333 2023-03-01 2024-02-29 02753333 bus:FilletedAccounts 2023-03-01 2024-02-29 02753333 bus:SmallEntities 2023-03-01 2024-02-29 02753333 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 02753333 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 02753333 bus:Director1 2023-03-01 2024-02-29 02753333 bus:Director2 2023-03-01 2024-02-29 02753333 core:Vehicles 2023-03-01 2024-02-29 02753333 core:OfficeEquipment core:TopRangeValue 2023-03-01 2024-02-29 02753333 2022-03-01 2023-02-28 02753333 core:OfficeEquipment 2023-03-01 2024-02-29 iso4217:GBP xbrli:pure

Company No: 02753333 (England and Wales)

TULSEGLEN CONSTRUCTION LIMITED

Unaudited Financial Statements
For the financial year ended 29 February 2024
Pages for filing with the registrar

TULSEGLEN CONSTRUCTION LIMITED

Unaudited Financial Statements

For the financial year ended 29 February 2024

Contents

TULSEGLEN CONSTRUCTION LIMITED

BALANCE SHEET

As at 29 February 2024
TULSEGLEN CONSTRUCTION LIMITED

BALANCE SHEET (continued)

As at 29 February 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 5,502 7,819
5,502 7,819
Current assets
Stocks 4 88,000 88,000
Debtors 5 97,859 29,308
Cash at bank and in hand 181,751 375,229
367,610 492,537
Creditors: amounts falling due within one year 6 ( 332,341) ( 463,510)
Net current assets 35,269 29,027
Total assets less current liabilities 40,771 36,846
Net assets 40,771 36,846
Capital and reserves
Called-up share capital 2 2
Profit and loss account 40,769 36,844
Total shareholders' funds 40,771 36,846

For the financial year ending 29 February 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Tulseglen Construction Limited (registered number: 02753333) were approved and authorised for issue by the Board of Directors on 18 November 2024. They were signed on its behalf by:

D Azzeddin
Director
TULSEGLEN CONSTRUCTION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 29 February 2024
TULSEGLEN CONSTRUCTION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 29 February 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Tulseglen Construction Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 23 Huntly Road, Talbot Woods, Bournemouth, BH3 7HF, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer. Revenue from services is recognised as they are delivered.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Vehicles 20 % reducing balance
Office equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 4 4

3. Tangible assets

Vehicles Office equipment Total
£ £ £
Cost
At 01 March 2023 18,500 10,952 29,452
At 29 February 2024 18,500 10,952 29,452
Accumulated depreciation
At 01 March 2023 14,500 7,133 21,633
Charge for the financial year 1,000 1,317 2,317
At 29 February 2024 15,500 8,450 23,950
Net book value
At 29 February 2024 3,000 2,502 5,502
At 28 February 2023 4,000 3,819 7,819

4. Stocks

2024 2023
£ £
Work in progress 88,000 88,000

5. Debtors

2024 2023
£ £
Other debtors 97,859 29,308

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 1,143 30,446
Amounts owed to directors 125,426 163,596
Other loans 191,118 260,209
Accruals 8,000 4,817
Corporation tax 1,808 2,209
Other taxation and social security 4,699 2,086
Other creditors 147 147
332,341 463,510