Tucana Fairlight Ltd


FINANCIAL STATEMENTS


for the year ended 30th November 2024



Tucana Fairlight Ltd

CONTENTS

for the year ended 30th November 2024







The Accounts are comprised of the following:

Statement of Financial Position

Notes to the Accounts



Please note that the Accounts comprise of HTML and iXBRL source code and that this is a printed or visual representation of that source code some of which will not be displayed or printed.

Tucana Fairlight Ltd

Company No. 13735722

STATEMENT OF FINANCIAL POSITION

as at 30th November 2024

20242023
Note£££
FIXED ASSETS
Property, plant and equipment411481351
11481351
CURRENT ASSETS
Stocks564862305310230
Debtors61521100
Cash at bank and in hand131281090
65008795311420
CURRENT LIABILITIES
Creditors: amounts falling due
within one year720406611280807
NET CURRENT ASSETS44602184030613
TOTAL ASSETS LESS CURRENT LIABILITIES44613664031964
 
Creditors: amounts falling due
after more than one year844608224030715
 
NET ASSETS5441249
 
CAPITAL AND RESERVES
Called up share capital22
Retained earnings5421247
SHAREHOLDERS FUNDS5441249

The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies which are subject to the small companies' regime. The Income Statement has not been delivered to the Registrar of Companies.

For the year ended 30th November 2024 the Company is entitled to the exemption from the requirement to obtain an audit conferred by section 477 of the Companies Act 2006 and the members have not required the company to obtain an audit in accordance with section 476 of the Act.

The Directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

Approved by the Board on 23 July 2025


L M O'Shea

Director

Company Number 13735722 (England)

Tucana Fairlight Ltd

NOTES TO THE ACCOUNTS

for the year ended 30th November 2024


1   Statutory information

Tucana Fairlight Ltd is a private company limited by shares and registered under company number 13735722 in England. Its registered office address is Cumberland Court, 80 Mount Street, Nottingham, Nottinghamshire NG1 6HH.

These financial statements are presented in Sterling, which is the functional currency of the company.

2   Accounting policies

Basis of preparation of financial statements

The accounts have been prepared under the historical cost convention in accordance with the accounting policies set out below, and in accordance with Financial Reporting Standard 102 Section 1A and the Companies Act 2006.

Income Recognition

Revenue is measured at the fair value of the consideration received or receivable. Turnover is shown net of value added tax, returns, rebates and discounts. Revenue is recognised for the sale of goods when the vendor has transferred the significant risks and rewards of ownership, it is possible that the economic benefit will flow to the entity and the revenue and associated costs can be reliably measured.

Depreciation

Depreciation is provided on all property, plant and equipment, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

Plant, machinery and vehicles15% reducing balance

Stocks

Stocks are valued at the lower of cost and expected selling price less any costs to sell.

Leasing

Assets, obtained under hire purchase contracts and finance leases, are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account on a straight line basis.

3   Employee information

The average number of employees during the accounting period was 2 (2023 - 2).

4   Property, plant and equipment
 
Plant
and
MachineryTotal
££
Cost
At 1st December 2023 and
At 30th November 202418201820
 
Depreciation
At 1st December 2023 469469
Charge for year203203
At 30th November 2024672672
 
Net Book Value
At 30th November 202411481148
At 30th November 202313511351

5   Stocks20242023
££
 
Work in progress64862305310230
64862305310230

The difference between purchase price or production cost of stocks and their replacement cost is not material.


6   Debtors20242023
££
 
Amounts owed by group undertakings and undertakings in which the
  Company has a participating interest1521100
1521100

7   Creditors: amounts falling due within one year20242023
££
 
Trade Creditors333225514706
Other creditors1567436766101
Accruals and deferred income140000-
20406611280807

8   Creditors: amounts falling due after one year20242023
££
 
Loans and Overdrafts44608224030715
44608224030715

9   Loans20242023
££
Analysis of maturity of debt:
 
Between one and five years44608224030715
44608224030715

10   Transactions with Directors

There were no transactions with Directors except as reflected in the Director's loan account for each Director. The closing balances of each account are as detailed below. Credit balances are shown without brackets. These balances are included in the figure for "Creditors and Accruals" in the accounts. Overdrawn balances are included in the figure for "Other Debtors".

20242023
££
 
R C Brown863922459550
L M O'Shea699200304199
1563122763749

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