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Company Registration No. 10521380 (England and Wales)
TOUCAN APPLIANCES LTD Unaudited accounts for the year ended 31 December 2024
TOUCAN APPLIANCES LTD Unaudited accounts Contents
Page
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TOUCAN APPLIANCES LTD Company Information for the year ended 31 December 2024
Directors
David Mills Michelle Mills
Company Number
10521380 (England and Wales)
Registered Office
Azoth Solutions Ltd Jonathan Scott Hall Thorpe Road Norwich Norfolk NR1 1UH England
Accountants
Azoth Digital Accountants Jonathan Scott Hall Thorpe Road Norwich Norfolk NR1 1UH
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TOUCAN APPLIANCES LTD Statement of financial position as at 31 December 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Intangible assets
450 
1,350 
Tangible assets
12,612 
16,073 
13,062 
17,423 
Current assets
Inventories
6,000 
6,000 
Debtors
30,206 
40,420 
Cash at bank and in hand
(1,077)
1,554 
35,129 
47,974 
Creditors: amounts falling due within one year
(10,856)
(22,992)
Net current assets
24,273 
24,982 
Total assets less current liabilities
37,335 
42,405 
Creditors: amounts falling due after more than one year
(9,517)
(26,001)
Provisions for liabilities
Deferred tax
(1,351)
(3,054)
Net assets
26,467 
13,350 
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
26,465 
13,348 
Shareholders' funds
26,467 
13,350 
For the year ending 31 December 2024 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 29 April 2025 and were signed on its behalf by
Michelle Mills Director Company Registration No. 10521380
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TOUCAN APPLIANCES LTD Notes to the Accounts for the year ended 31 December 2024
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 Azoth Solutions Ltd, Jonathan Scott Hall, Thorpe Road, Norwich, Norfolk, NR1 1UH, 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 2024
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 2024
4,500 
At 31 December 2024
4,500 
Amortisation
At 1 January 2024
3,150 
Charge for the year
900 
At 31 December 2024
4,050 
Net book value
At 31 December 2024
450 
At 31 December 2023
1,350 
5
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 January 2024
9,365 
1,090 
22,070 
32,525 
Additions
- 
- 
6,288 
6,288 
Disposals
- 
- 
(22,070)
(22,070)
At 31 December 2024
9,365 
1,090 
6,288 
16,743 
Depreciation
At 1 January 2024
1,684 
845 
13,923 
16,452 
Charge for the year
768 
48 
1,974 
2,790 
On disposals
- 
- 
(15,111)
(15,111)
At 31 December 2024
2,452 
893 
786 
4,131 
Net book value
At 31 December 2024
6,913 
197 
5,502 
12,612 
At 31 December 2023
7,681 
245 
8,147 
16,073 
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TOUCAN APPLIANCES LTD Notes to the Accounts for the year ended 31 December 2024
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
516 
883 
Other debtors
23,856 
33,703 
24,372 
34,586 
Amounts falling due after more than one year
Other debtors
5,834 
5,834 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
7,300 
7,300 
VAT
(357)
4,833 
Trade creditors
- 
736 
Taxes and social security
1,913 
8,123 
Accruals
2,000 
2,000 
10,856 
22,992 
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
9,517 
16,200 
Obligations under finance leases and hire purchase contracts
- 
9,801 
9,517 
26,001 
9
Share capital
2024 
2023 
£ 
£ 
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 (2023: 2).
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