According to the survey of 3,000 parents, the typical child owns 238 toys in total but play with just 12 'favourites' on a daily basis making up just five per cent of their toys.
The study also revealed one in two parents admit 'wasting hundreds of pounds' on toys their children never play with.
More than half believe their children end up picking the same toys day in and day out because they have too many to choose from.
The firm's Neil Gray, said: "Parents can't help but indulge their children, and there is nothing nicer than seeing a child show pleasure and gratitude for a new toy.
"But different toys have appeal for different reasons - some toys, such as play houses, board games or construction kits, are timeless and therefore have real longevity, others will come and go depending on the playground craze of the moment or peer pressure.
"So it stands to reason that while a child will love any toy when they are first given it, they are bound to play with some more than others.
"We recognise the importance of play to a child's development and the purchasing of toys continues to be important, even in times of recession.
"By conducting research throughout the development of our products, we are increasing the likelihood that a child will get hours of enjoyment out of a toy."
The poll shows 35 per cent of children don't play with many of their construction sets and games because they are too complicated to play with alone.
And 61 per cent of adults admit their children would probably play with a wider variety of toys if mum and dad participated.
The average parent thinks their child receives a staggering £660.30 worth of toys every single year.
They spend approximately £356.74 a year on birthday and Christmas presents, random treats through the year and rewards for good behaviour.
And friends, family members and neighbours splash out a further £303.56 on gifts over a 12 month period.
Gray added: "The figures on spending just reinforce the notion that parents like nothing more than buying toys for their children.
"It's up to us as toy designers to develop products that are appealing, follow classic play patterns and stretch a child's imagination - and requiring little in the way of adult intervention for them to be able to play.
"And the key to toy-buying is finding a good balance between toys which give instant gratification, and ones which are more traditional and long lasting.
"It stands to reason most parents would want to avoid wasting money by purchasing toys which still have appeal a few years down the line for either the child or a younger sibling."