Tungsten Corporate Solutions Limited - Accounts to registrar (filleted) - small 23.1.2
Tungsten Corporate Solutions Limited - Accounts to registrar (filleted) - small 23.1.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE PERIOD |
| 1ST FEBRUARY 2021 TO 31ST JULY 2022 |
| FOR |
| TUNGSTEN CORPORATE SOLUTIONS LIMITED |
| TUNGSTEN CORPORATE SOLUTIONS LIMITED (REGISTERED NUMBER: 10903600) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE PERIOD 1ST FEBRUARY 2021 TO 31ST JULY 2022 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| TUNGSTEN CORPORATE SOLUTIONS LIMITED |
| COMPANY INFORMATION |
| FOR THE PERIOD 1ST FEBRUARY 2021 TO 31ST JULY 2022 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Cardiff Arms Park |
| Westgate Street |
| Cardiff |
| CF10 1JA |
| TUNGSTEN CORPORATE SOLUTIONS LIMITED (REGISTERED NUMBER: 10903600) |
| BALANCE SHEET |
| 31ST JULY 2022 |
| 2022 | 2021 |
| Notes | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| Investments | 6 |
| CURRENT ASSETS |
| Debtors | 7 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 8 | ( |
) | ( |
) |
| NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 9 | ( |
) | ( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| TUNGSTEN CORPORATE SOLUTIONS LIMITED (REGISTERED NUMBER: 10903600) |
| BALANCE SHEET - continued |
| 31ST JULY 2022 |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on |
| TUNGSTEN CORPORATE SOLUTIONS LIMITED (REGISTERED NUMBER: 10903600) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE PERIOD 1ST FEBRUARY 2021 TO 31ST JULY 2022 |
| 1. | STATUTORY INFORMATION |
| Tungsten Corporate Solutions Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Goodwill |
| Intangible assets |
| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
| Tangible fixed assets |
| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
| Fixtures and fittings - 25% straight line |
| Computer equipment - 25% straight line |
| Taxation |
| Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference. |
| 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. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| TUNGSTEN CORPORATE SOLUTIONS LIMITED (REGISTERED NUMBER: 10903600) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE PERIOD 1ST FEBRUARY 2021 TO 31ST JULY 2022 |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the period was |
| 4. | INTANGIBLE FIXED ASSETS |
| Goodwill |
| £ |
| COST |
| At 1st February 2021 |
| and 31st July 2022 |
| AMORTISATION |
| At 1st February 2021 |
| Charge for period |
| At 31st July 2022 |
| NET BOOK VALUE |
| At 31st July 2022 |
| At 31st January 2021 |
| 5. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Freehold | Plant and | and |
| property | machinery | fittings |
| £ | £ | £ |
| COST |
| At 1st February 2021 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31st July 2022 |
| DEPRECIATION |
| At 1st February 2021 |
| Charge for period |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31st July 2022 |
| NET BOOK VALUE |
| At 31st July 2022 |
| At 31st January 2021 |
| TUNGSTEN CORPORATE SOLUTIONS LIMITED (REGISTERED NUMBER: 10903600) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE PERIOD 1ST FEBRUARY 2021 TO 31ST JULY 2022 |
| 5. | TANGIBLE FIXED ASSETS - continued |
| Motor | Computer |
| vehicles | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1st February 2021 |
| Additions |
| Disposals | ( |
) | ( |
) | ( |
) |
| At 31st July 2022 |
| DEPRECIATION |
| At 1st February 2021 |
| Charge for period |
| Eliminated on disposal | ( |
) | ( |
) | ( |
) |
| At 31st July 2022 |
| NET BOOK VALUE |
| At 31st July 2022 |
| At 31st January 2021 |
| 6. | FIXED ASSET INVESTMENTS |
| The prior period investment balance was repaid to the business during the year. |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Trade debtors |
| Contract debtors | 267,675 | 209,261 |
| Amounts owed by group undertakings |
| Other debtors |
| Prepayments |
| Prepayments |
| TUNGSTEN CORPORATE SOLUTIONS LIMITED (REGISTERED NUMBER: 10903600) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE PERIOD 1ST FEBRUARY 2021 TO 31ST JULY 2022 |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts |
| Trade creditors |
| Amounts owed to group undertakings |
| Corporation tax |
| Social security and other taxes |
| VAT | 200,107 | 27,536 |
| Other creditors |
| Commission Provision | 90,755 | 54,706 |
| Dividend provision | - | 50,000 |
| Payroll control | 54,136 | 131,250 |
| Directors' current accounts | 202 | 41,457 |
| Deferred income |
| Accrued expenses |
| 9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Bank loans due 1-2 years |
| Hire purchase contracts |
| Other Creditors |
| 10. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2022 | 2021 |
| £ | £ |
| Mortgage | 288,159 | - |
| The mortgage is secured on the property under a fixed charge. |
| 11. | RELATED PARTY DISCLOSURES |
| At the year end date included in Debtors is £160,346 owed by companies related by common control |
| Aspen Marketing Limited £40,000 |
| Tungsten Sustainable Energy Limited £120,346 |
| 12. | POST BALANCE SHEET EVENTS |
| On 17th August 2022, the business was acquired by Mirada Holdings Limited as a result of a management buyout. |
| 13. | ULTIMATE CONTROLLING PARTY |
| The Company is controlled by Mirada Holdings Limited, a company registered and operating in England and Wales. |
| All transactions between group members are at a commercial rate. |