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REGISTERED NUMBER: 13533759 (England and Wales)






































Fantasy Prints Group Limited

Unaudited Financial Statements

for the Year Ended 31st July 2023






Fantasy Prints Group Limited (Registered number: 13533759)






Contents of the Financial Statements
for the year ended 31st July 2023




Page

Company information 1

Balance sheet 2

Notes to the financial statements 3 to 4


Fantasy Prints Group Limited

Company Information
for the year ended 31st July 2023







Directors: Miss S McMorn
J Collin





Registered office: Unit 1&2 Windmill Way West
Ramparts Business Park
Berwick-Upon-Tweed
United Kingdom
TD15 1TB





Registered number: 13533759 (England and Wales)





Accountants: Rennie Welch LLP
Academy House
Shedden Park Road
Kelso
Roxburghshire
TD5 7AL

Fantasy Prints Group Limited (Registered number: 13533759)

Balance Sheet
31st July 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Investments 4 1,000 1,000

Current assets
Debtors 5 250,000 250,000
Cash at bank 755,837 251,142
1,005,837 501,142
Creditors
Amounts falling due within one year 6 3,698 3,392
Net current assets 1,002,139 497,750
Total assets less current liabilities 1,003,139 498,750

Capital and reserves
Called up share capital 1,000 1,000
Retained earnings 1,002,139 497,750
1,003,139 498,750

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st July 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 15th April 2024 and were signed on its behalf by:





Miss S McMorn - Director


Fantasy Prints Group Limited (Registered number: 13533759)

Notes to the Financial Statements
for the year ended 31st July 2023

1. Statutory information

Fantasy Prints Group 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.

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.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Financial instruments
The following assets and liabilities are classified as financial instruments - intercompany loans, accruals and directors' loans.

Directors' loans (being repayable on demand), intercompany loans and accruals are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the statement of income and retained earnings.

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.

Provisions
Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in settlement that can be estimated reliably. Where material, provisions are calculated on a discounted basis.

Group accounts
The company is entitled to the exemption under Section 398 of the Companies Act 2006 from the obligation to prepare group accounts.

Fantasy Prints Group Limited (Registered number: 13533759)

Notes to the Financial Statements - continued
for the year ended 31st July 2023

2. Accounting policies - continued

Going concern
The directors have considered the company's financial position for a period of 12 months from the date of signing these financial statements and have reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing these financial statements.

3. Employees and directors

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

4. Fixed asset investments
Shares in
group
undertakings
£   
Cost
At 1st August 2022
and 31st July 2023 1,000
Net book value
At 31st July 2023 1,000
At 31st July 2022 1,000

5. Debtors: amounts falling due after more than one year
2023 2022
£    £   
Loan 250,000 250,000

6. Creditors: amounts falling due within one year
2023 2022
£    £   
Amounts owed to group undertakings 1,312 1,312
Taxation and social security 736 -
Other creditors 1,650 2,080
3,698 3,392

7. Related party disclosures

At 31st July 2023 a loan of £1,312 (2022 - £nil) was outstanding payable by the company to Fantasy Prints Limited, a subsidiary of Fantasy Prints Group Limited. This loan is unsecured, interest free and is payable on demand.

In the accounting period ended 31st July 2022 a loan of £250,000 was made to Ariel Properties Limited, a company which is wholly owned by one of the directors. Interest is being charged on the outstanding amount using market interest rates. As this is an interest only loan the amount outstanding as at 31st July 2023 is £250,000 (2022 - £250,000).