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REGISTERED NUMBER: 01753783 (England and Wales)















Unaudited Financial Statements For The Year Ended 30 November 2023

for

FANCY-IT AGENCIES LIMITED

FANCY-IT AGENCIES LIMITED (Registered number: 01753783)






Contents of the Financial Statements
For The Year Ended 30 November 2023




Page

Company information 1

Balance sheet 2

Notes to the financial statements 4


FANCY-IT AGENCIES LIMITED

Company Information
For The Year Ended 30 November 2023







DIRECTOR: S J Desai





REGISTERED OFFICE: Unit 1 Rooks Corner, Roxeth Green Avenue
South Harrow,
Middlesex,
HA2 0GP





REGISTERED NUMBER: 01753783 (England and Wales)





ACCOUNTANTS: Euro Ashfords LLP
First Floor Ashford House
100 College Road
Harrow
Middlesex
HA1 1BQ

FANCY-IT AGENCIES LIMITED (Registered number: 01753783)

Balance Sheet
30 November 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 91,030 112,406

CURRENT ASSETS
Stocks 757,054 892,285
Debtors 5 314,068 804,000
Cash at bank and in hand 9,556 20,476
1,080,678 1,716,761
CREDITORS
Amounts falling due within one year 6 1,280,188 1,455,200
NET CURRENT (LIABILITIES)/ASSETS (199,510 ) 261,561
TOTAL ASSETS LESS CURRENT
LIABILITIES

(108,480

)

373,967

CREDITORS
Amounts falling due after more than one
year

7

15,000

33,810
NET (LIABILITIES)/ASSETS (123,480 ) 340,157

CAPITAL AND RESERVES
Called up share capital 210,000 210,000
Share premium 60,000 60,000
Retained earnings (393,480 ) 70,157
(123,480 ) 340,157

FANCY-IT AGENCIES LIMITED (Registered number: 01753783)

Balance Sheet - continued
30 November 2023


The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the Company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Income statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 August 2024 and were signed by:





S J Desai - Director


FANCY-IT AGENCIES LIMITED (Registered number: 01753783)

Notes to the Financial Statements
For The Year Ended 30 November 2023

1. STATUTORY INFORMATION

FANCY-IT AGENCIES 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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 50% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

FANCY-IT AGENCIES LIMITED (Registered number: 01753783)

Notes to the Financial Statements - continued
For The Year Ended 30 November 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 13 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 December 2022
and 30 November 2023 290,906
DEPRECIATION
At 1 December 2022 178,500
Charge for year 21,376
At 30 November 2023 199,876
NET BOOK VALUE
At 30 November 2023 91,030
At 30 November 2022 112,406

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 42,153 64,235
Amounts owed by group undertakings 186,247 186,246
Other debtors 85,668 553,519
314,068 804,000

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 7,478 12,309
Trade creditors 360,800 405,591
Amounts owed to group undertakings 202,660 -
Taxation and social security 563,142 438,954
Other creditors 136,108 588,346
1,280,188 1,455,200

FANCY-IT AGENCIES LIMITED (Registered number: 01753783)

Notes to the Financial Statements - continued
For The Year Ended 30 November 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Bank loans 15,000 25,000
Hire purchase contracts - 8,810
15,000 33,810

8. SECURED DEBTS

The company has a fixed and floating charge created 18 December 2020 over its present and future
assets in favour of 4SYTE Ltd.

9. ULTIMATE CONTROLLING PARTY

The controlling party is S J Desai.

The ultimate controlling party is S J Desai.