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REGISTERED NUMBER: 04832668 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 October 2023

for

Tuco Developments Limited

Tuco Developments Limited (Registered number: 04832668)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Tuco Developments Limited

Company Information
for the Year Ended 31 October 2023







DIRECTORS: G A Mathers
Mrs D Mathers





REGISTERED OFFICE: Unit 23 Gunners Buildings
Limberline Road
Hilsea
Portsmouth
Hampshire
PO3 5BJ





REGISTERED NUMBER: 04832668 (England and Wales)





ACCOUNTANTS: KT Accountants Limited
Castle Farm Barn North
Denmead Road
Southwick
Hampshire
PO17 6EX

Tuco Developments Limited (Registered number: 04832668)

Balance Sheet
31 October 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 127,133 169,597
127,133 169,597

CURRENT ASSETS
Stocks 21,288 6,500
Debtors 6 131,382 161,704
Cash at bank 38,203 49,940
190,873 218,144
CREDITORS
Amounts falling due within one year 7 233,517 216,315
NET CURRENT (LIABILITIES)/ASSETS (42,644 ) 1,829
TOTAL ASSETS LESS CURRENT
LIABILITIES

84,489

171,426

CREDITORS
Amounts falling due after more than
one year

8

(80,594

)

(119,607

)

PROVISIONS FOR LIABILITIES - (29,814 )
NET ASSETS 3,895 22,005

Tuco Developments Limited (Registered number: 04832668)

Balance Sheet - continued
31 October 2023

31.10.23 31.10.22
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 10 510 510
Retained earnings 11 3,385 21,495
SHAREHOLDERS' FUNDS 3,895 22,005

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 July 2024 and were signed on its behalf by:





G A Mathers - Director


Tuco Developments Limited (Registered number: 04832668)

Notes to the Financial Statements
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

Tuco Developments 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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
Goodwill, being the amount paid in connection with the acquisition of a business in 2001, is being amortised evenly over its estimated useful life of fifteen years.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.


Tuco Developments Limited (Registered number: 04832668)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 7 ) .

Tuco Developments Limited (Registered number: 04832668)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2022
and 31 October 2023 475,000
AMORTISATION
At 1 November 2022
and 31 October 2023 475,000
NET BOOK VALUE
At 31 October 2023 -
At 31 October 2022 -

5. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 November 2022
and 31 October 2023 965,963 22,072 10,262 998,297
DEPRECIATION
At 1 November 2022 806,255 12,761 9,684 828,700
Charge for year 39,995 2,328 141 42,464
At 31 October 2023 846,250 15,089 9,825 871,164
NET BOOK VALUE
At 31 October 2023 119,713 6,983 437 127,133
At 31 October 2022 159,708 9,311 578 169,597

Tuco Developments Limited (Registered number: 04832668)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 November 2022
and 31 October 2023 164,950
DEPRECIATION
At 1 November 2022 75,816
Charge for year 22,284
At 31 October 2023 98,100
NET BOOK VALUE
At 31 October 2023 66,850
At 31 October 2022 89,134

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade debtors 122,952 153,274
Other debtors 8,430 8,430
131,382 161,704

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Hire purchase contracts 29,267 31,669
Trade creditors 157,801 110,048
Taxation and social security 8,694 29,353
Other creditors 37,755 45,245
233,517 216,315

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.10.23 31.10.22
£    £   
Bank loans 26,311 36,057
Hire purchase contracts 54,283 83,550
80,594 119,607

Tuco Developments Limited (Registered number: 04832668)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
31.10.23 31.10.22
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 26,311 36,057

9. SECURED DEBTS

HSBC bank have a mortgage debenture and chattel mortgage securing all monies and liabilities due to HSBC bank Plc.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.10.23 31.10.22
value: £    £   
1,000 Ordinary £1 500 500
10 Ordinary 'A' £1 10 10
510 510

11. RESERVES
Retained
earnings
£   

At 1 November 2022 21,495
Deficit for the year (18,110 )
At 31 October 2023 3,385

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 October 2023 and 31 October 2022:

31.10.23 31.10.22
£    £   
G A Mathers and Mrs D Mathers
Balance outstanding at start of year (38,056 ) (62,440 )
Amounts advanced (43,000 ) (24,500 )
Amounts repaid 46,644 48,884
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (34,412 ) (38,056 )

Tuco Developments Limited (Registered number: 04832668)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

Included in creditors are amounts due to the directors as above. These loans are interest free, undated, unsecured and repayable on demand.