1 January 2023 false No description of principal activity Taxfiler 2024.5 10521380business:PrivateLimitedCompanyLtd2023-01-012023-12-31 105213802022-12-31 105213802023-01-012023-12-31 10521380business:AuditExemptWithAccountantsReport2023-01-012023-12-31 10521380business:FilletedAccounts2023-01-012023-12-31 105213802023-12-31 10521380business:Director12023-01-012023-12-31 10521380business:Director22023-01-012023-12-31 10521380business:RegisteredOffice2023-01-012023-12-31 105213802022-12-31 10521380core:WithinOneYear2023-12-31 10521380core:WithinOneYear2022-12-31 10521380core:AfterOneYear2023-12-31 10521380core:AfterOneYear2022-12-31 10521380core:ShareCapitalcore:PreviouslyStatedAmount2023-12-31 10521380core:ShareCapitalcore:PreviouslyStatedAmount2022-12-31 10521380core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-12-31 10521380core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-12-31 10521380core:PreviouslyStatedAmount2023-12-31 10521380core:PreviouslyStatedAmount2022-12-31 10521380business:SmallEntities2023-01-012023-12-31 10521380countries:EnglandWales2023-01-012023-12-31 10521380core:LandBuildings2023-01-012023-12-31 10521380core:PlantMachinery2023-01-012023-12-31 10521380core:MotorVehicles2023-01-012023-12-31 10521380core:FurnitureFittings2023-01-012023-12-31 10521380core:ComputerEquipment2023-01-012023-12-31 10521380core:IntangibleAssetsOtherThanGoodwill2022-12-31 10521380core:IntangibleAssetsOtherThanGoodwill2023-12-31 10521380core:IntangibleAssetsOtherThanGoodwill2023-01-012023-12-31 10521380core:LandBuildings2022-12-31 10521380core:PlantMachinery2022-12-31 10521380core:MotorVehicles2022-12-31 10521380core:LandBuildings2023-12-31 10521380core:PlantMachinery2023-12-31 10521380core:MotorVehicles2023-12-31 10521380business:OrdinaryShareClass12023-01-012023-12-31 10521380business:OrdinaryShareClass12022-01-012022-12-31 105213802022-01-012022-12-31 iso4217:GBP xbrli:shares xbrli:pure
Company Registration No. 10521380 (England and Wales)
TOUCAN APPLIANCES LTD Unaudited accounts for the year ended 31 December 2023
TOUCAN APPLIANCES LTD Unaudited accounts Contents
Page
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TOUCAN APPLIANCES LTD Company Information for the year ended 31 December 2023
Directors
David Mills Michelle Collier
Company Number
10521380 (England and Wales)
Registered Office
9-11 PLOWRIGHT PLACE SWAFFHAM PE37 7LQ ENGLAND
Accountants
Azoth Solutions Ltd Jonathan Scott Hall Thorpe Road Norwich Norfolk NR1 1UH
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TOUCAN APPLIANCES LTD Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
1,350 
2,250 
Tangible assets
16,073 
18,113 
17,423 
20,363 
Current assets
Inventories
6,000 
6,000 
Debtors
40,420 
23,606 
Cash at bank and in hand
1,554 
14,609 
47,974 
44,215 
Creditors: amounts falling due within one year
(22,992)
(30,791)
Net current assets
24,982 
13,424 
Total assets less current liabilities
42,405 
33,787 
Creditors: amounts falling due after more than one year
(26,001)
(29,595)
Provisions for liabilities
Deferred tax
(3,054)
(3,441)
Net assets
13,350 
751 
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
13,348 
749 
Shareholders' funds
13,350 
751 
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 8 July 2024 and were signed on its behalf by
Michelle Collier Director Company Registration No. 10521380
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TOUCAN APPLIANCES LTD Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
TOUCAN APPLIANCES LTD is a private company, limited by shares, registered in England and Wales, registration number 10521380. The registered office is 9-11 PLOWRIGHT PLACE, SWAFFHAM, PE37 7LQ, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Other intangible assets are website design costs. These have been amortised to profit and loss account over its estimated economic life of five years.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
10% reducing balance
Plant & machinery
15% reducing balance
Motor vehicles
25% reducing balance
Fixtures & fittings
25% reducing balance
Computer equipment
25% reducing balance
Leasing and Hire Purchase Contracts
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
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TOUCAN APPLIANCES LTD Notes to the Accounts for the year ended 31 December 2023
Stocks and Work in Progress
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 stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
4
Intangible fixed assets
Other 
£ 
Cost
At 1 January 2023
4,500 
At 31 December 2023
4,500 
Amortisation
At 1 January 2023
2,250 
Charge for the year
900 
At 31 December 2023
3,150 
Net book value
At 31 December 2023
1,350 
At 31 December 2022
2,250 
5
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 January 2023
7,910 
1,090 
22,070 
31,070 
Additions
1,455 
- 
- 
1,455 
At 31 December 2023
9,365 
1,090 
22,070 
32,525 
Depreciation
At 1 January 2023
965 
784 
11,208 
12,957 
Charge for the year
719 
61 
2,715 
3,495 
At 31 December 2023
1,684 
845 
13,923 
16,452 
Net book value
At 31 December 2023
7,681 
245 
8,147 
16,073 
At 31 December 2022
6,945 
306 
10,862 
18,113 
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TOUCAN APPLIANCES LTD Notes to the Accounts for the year ended 31 December 2023
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
883 
588 
Accrued income and prepayments
- 
2,778 
Other debtors
33,703 
14,406 
34,586 
17,772 
Amounts falling due after more than one year
Other debtors
5,834 
5,834 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
7,300 
7,300 
VAT
4,833 
5,309 
Obligations under finance leases and hire purchase contracts
- 
4,968 
Trade creditors
736 
225 
Taxes and social security
8,123 
10,989 
Accruals
2,000 
2,000 
22,992 
30,791 
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
16,200 
19,794 
Obligations under finance leases and hire purchase contracts
9,801 
9,801 
26,001 
29,595 
9
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2 
2 
10
Average number of employees
During the year the average number of employees was 2 (2022: 2).
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