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REGISTERED NUMBER: 05092822 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 September 2023

for

Toucan Art Limited

Toucan Art Limited (Registered number: 05092822)






Contents of the Financial Statements
for the Year Ended 30 September 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Toucan Art Limited

Company Information
for the Year Ended 30 September 2023







DIRECTORS: LG Mitchell
SA Mitchell





REGISTERED OFFICE: Ground Floor Rear Barn
The Brookdale Centre
Knutsford
Cheshire
WA16 0SR





REGISTERED NUMBER: 05092822 (England and Wales)





ACCOUNTANTS: EBA Chartered Accountants
Ground Floor
Rear Barn
The Brookdale Centre
Knutsford
Cheshire
WA16 0SR

Toucan Art Limited (Registered number: 05092822)

Balance Sheet
30 September 2023

30.9.23 30.9.22
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 41,690 48,910

CURRENT ASSETS
Stocks 1,950 1,950
Debtors 5 689 1,368
Cash at bank 5,495 7,092
8,134 10,410
CREDITORS
Amounts falling due within one year 6 16,047 44,416
NET CURRENT LIABILITIES (7,913 ) (34,006 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

33,777

14,904

CREDITORS
Amounts falling due after more than one
year

7

(117,367

)

(92,443

)

PROVISIONS FOR LIABILITIES (2,560 ) (3,095 )
NET LIABILITIES (86,150 ) (80,634 )

CAPITAL AND RESERVES
Called up share capital 101 101
Retained earnings (86,251 ) (80,735 )
(86,150 ) (80,634 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006.

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.

Toucan Art Limited (Registered number: 05092822)

Balance Sheet - continued
30 September 2023


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 November 2023 and were signed on its behalf by:





LG Mitchell - Director


Toucan Art Limited (Registered number: 05092822)

Notes to the Financial Statements
for the Year Ended 30 September 2023

1. STATUTORY INFORMATION

Toucan Art Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
The company is able to meet its day to day trading needs with the ongoing support of its creditors and, as such, the directors consider that the company is trading as a going concern.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance, 10% on cost and 5% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year 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 year 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

Toucan Art Limited (Registered number: 05092822)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£
COST
At 1 October 2022
and 30 September 2023 148,038
DEPRECIATION
At 1 October 2022 99,128
Charge for year 7,220
At 30 September 2023 106,348
NET BOOK VALUE
At 30 September 2023 41,690
At 30 September 2022 48,910

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£ £
Trade debtors - 291
Other debtors 689 1,077
689 1,368

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£ £
Bank loans and overdrafts 10,077 9,829
Trade creditors 100 852
Taxation and social security 788 98
Other creditors 5,082 33,637
16,047 44,416

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.23 30.9.22
£ £
Bank loans 17,367 27,443
Other creditors 100,000 65,000
117,367 92,443

8. ULTIMATE CONTROLLING PARTY

The company is controlled by the directors.