Company registration number 12310693 (England and Wales)
FANTASTICKS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
FANTASTICKS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
FANTASTICKS LIMITED
BALANCE SHEET
AS AT
31 MARCH 2023
31 March 2023
- 1 -
31 March 2023
31 October 2022
Notes
£
£
£
£
Current assets
Stocks
-
150
Debtors
4
147
147
Cash at bank and in hand
5,955
5,535
6,102
5,832
Creditors: amounts falling due within one year
5
(5,802)
(2,251)
Net current assets
300
3,581
Capital and reserves
Called up share capital
300
300
Profit and loss reserves
-
0
3,281
Total equity
300
3,581

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial period ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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

The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 29 July 2024 and are signed on its behalf by:
Mr M Jones
Director
Company registration number 12310693 (England and Wales)
FANTASTICKS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023
- 2 -
1
Accounting policies
Company information

Fantasticks Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 1 & 2, Five Crosses Industrial Estate, Minera, Wrexham, LL11 3RD.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 400 of the Companies Act 2006 not to prepare consolidated accounts. The financial statements present information about the company as an individual entity and not about its group.

1.2
Reporting period

The company ceased trading on 31 March 2023. A shorter period set of accounts has been prepared to reflect this.

1.3
Turnover

The turnover for the period represents income from sale of goods.

1.4
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

FANTASTICKS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2023
- 3 -
3
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2023
2022
Number
Number
Total
-
0
-
0
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Unpaid share capital
147
147
5
Creditors: amounts falling due within one year
2023
2022
£
£
Other creditors
5,322
1,771
Accruals and deferred income
480
480
5,802
2,251
6
Related party transactions

The company is a subsidiary of Minera Roof Trusses Limited which owns 51% of the issued share capital. The registered office is Units 1 & 2, Five Crosses Industrial Estate, Minera, Wrexham, LL11 3RD.

 

Included in creditors is an amount of £3,979 (2022 - £1,771) due to Minera Roof Trusses Limited. No interest has been charged on this balance.

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