Registration number:
Tungsten Cladding Limited
for the Year Ended 31 August 2025
Tungsten Cladding Limited
Contents
|
Company Information |
|
|
Balance Sheet |
|
|
Notes to the Unaudited Financial Statements |
Tungsten Cladding Limited
Company Information
|
Directors |
D. J. Sear-Mayes J. D. Penman |
|
Registered office |
|
|
Accountants |
|
Tungsten Cladding Limited
(Registration number: 15078464)
Balance Sheet as at 31 August 2025
|
Note |
2025 |
2024 |
|
|
Current assets |
|||
|
Stocks |
|
|
|
|
Debtors |
|
|
|
|
Cash at bank and in hand |
|
|
|
|
|
|
||
|
Creditors: Amounts falling due within one year |
( |
( |
|
|
Net assets |
|
|
|
|
Capital and reserves |
|||
|
Called up share capital |
|
|
|
|
Retained earnings |
|
|
|
|
Shareholders' funds |
|
|
For the financial year ending 31 August 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
|
• |
|
|
• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Approved and authorised by the
|
......................................... |
Tungsten Cladding Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025
|
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
|
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Going concern
The financial statements have been prepared on a going concern basis. Management have considered future information and exercised a degree of judgement in forecasting results beyond the immediate future and do not forsee any going concern issues.
Tungsten Cladding Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025
Key sources of estimation uncertainty
Estimates are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Although these estimates are managment's best knowledge of the amount, events or actions, actual amounts may ultimately differ from those estimates. The directors have made the following critical judgements.
Long term contracts; work in progress. The directors have used the input method on percentage of completion for recognition of long term contracts. In making these assessments there is a degree of inherent uncertainty. The carrying amount is £116,910 (2024 - £24,830).
Long term contracts; payments on account. The directors have used the input method on percentage of completion for recognition of long term contracts. In making these assessments there is a degree of inherent uncertainty. The carrying amount is £17,248 (2024 - £27,209).
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for contracted services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.
The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.
Long term contract revenue recognition
Turnover and profits on long term contracts are recognised in proportion to the stage of completion reached when the outcome of the contract can be assessed with reasonable certainty. The directors have used the input method on percentage of completion for recognition of long term contract turnover.
This is recognised when all of the following conditions are satisfied:
- the amount of turnover can be measured reliably;
- it is probable that the company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.
The accounting treatments are:
- amounts recoverable on contracts are included within debtors;
- amounts invoiced in excess of amounts recoverable on contracts are included within creditors;
- forseeable losses are included within creditors;
- costs to complete are included within creditors;
- costs, net of amounts transferred to cost of sales, are included within work in progress.
Tungsten Cladding Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025
Tax
The tax expense for the period comprises current tax. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Debtors
Trade debtors are amounts due from customers for contract services performed in the ordinary course of business.
Debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the debtors.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
Contract work in progress comprises costs incurred less costs recognised as contract expenses.
Creditors
Creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Tungsten Cladding Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025
|
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
|
Stocks |
|
2025 |
2024 |
|
|
Long term contract balances |
|
|
|
Debtors |
|
Current |
2025 |
2024 |
|
Trade debtors |
|
|
|
Other debtors |
|
|
|
|
|
|
Creditors |
Creditors: amounts falling due within one year
|
Note |
2025 |
2024 |
|
|
Due within one year |
|||
|
Trade creditors |
|
|
|
|
Amounts owed to related parties |
|
|
|
|
Taxation and social security |
|
|
|
|
Accruals and deferred income |
|
|
|
|
Other creditors |
|
|
|
|
|
|
Tungsten Cladding Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025
|
Share capital |
Allotted, called up and fully paid shares
|
2025 |
2024 |
|||
|
No. |
£ |
No. |
£ |
|
|
|
|
100 |
|
100 |
|
Related party transactions |
Summary of transactions with other related parties