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REGISTERED NUMBER: 06273394 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

FOR

FLYTE SO FANCY LIMITED

FLYTE SO FANCY LIMITED (REGISTERED NUMBER: 06273394)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FLYTE SO FANCY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: L P Weymouth
Mrs M A Weymouth





SECRETARY: Mrs M A Weymouth





REGISTERED OFFICE: The Cottage
Pulham
Dorchester
Dorset
DT2 7DX





REGISTERED NUMBER: 06273394 (England and Wales)





ACCOUNTANTS: Andrews and Palmer
Chartered Accountants
32 The Square
Gillingham
Dorset
SP8 4AR

FLYTE SO FANCY LIMITED (REGISTERED NUMBER: 06273394)

BALANCE SHEET
30 JUNE 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 182,089 202,482
182,089 202,482

CURRENT ASSETS
Stocks 208,893 217,630
Debtors 6 6,257 15,490
Cash at bank and in hand 54,996 48,053
270,146 281,173
CREDITORS
Amounts falling due within one year 7 231,263 274,054
NET CURRENT ASSETS 38,883 7,119
TOTAL ASSETS LESS CURRENT
LIABILITIES

220,972

209,601

CREDITORS
Amounts falling due after more than one
year

8

(181,747

)

(193,970

)

PROVISIONS FOR LIABILITIES (11,522 ) (12,518 )
NET ASSETS 27,703 3,113

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 27,603 3,013
SHAREHOLDERS' FUNDS 27,703 3,113

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 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.

FLYTE SO FANCY LIMITED (REGISTERED NUMBER: 06273394)

BALANCE SHEET - continued
30 JUNE 2024


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 Board of Directors and authorised for issue on 10 February 2025 and were signed on its behalf by:




L P Weymouth - Director



Mrs M A Weymouth - Director


FLYTE SO FANCY LIMITED (REGISTERED NUMBER: 06273394)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1. STATUTORY INFORMATION

Flyte So Fancy 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
Turnover represents net invoiced sales of goods, excluding value added tax. Turnover is recognised in the period in which goods are despatched.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of five years.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of the business in 2007, has been fully amortised.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 15% or 5% on reducing balance
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer & Website - 33% 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.

Financial instruments
Basic financial instruments are measured at amortised cost. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

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.


FLYTE SO FANCY LIMITED (REGISTERED NUMBER: 06273394)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

2. ACCOUNTING POLICIES - continued
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.

Foreign currencies
Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2023 - 15 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 July 2023
and 30 June 2024 90,000 33,025 123,025
AMORTISATION
At 1 July 2023
and 30 June 2024 90,000 33,025 123,025
NET BOOK VALUE
At 30 June 2024 - - -
At 30 June 2023 - - -

FLYTE SO FANCY LIMITED (REGISTERED NUMBER: 06273394)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 July 2023 542,074 175,953 9,079
Additions - 3,928 -
At 30 June 2024 542,074 179,881 9,079
DEPRECIATION
At 1 July 2023 354,898 165,628 8,735
Charge for year 20,418 3,563 86
At 30 June 2024 375,316 169,191 8,821
NET BOOK VALUE
At 30 June 2024 166,758 10,690 258
At 30 June 2023 187,176 10,325 344

Motor Computer
vehicles & Website Totals
£    £    £   
COST
At 1 July 2023 18,769 264,282 1,010,157
Additions - 1,499 5,427
At 30 June 2024 18,769 265,781 1,015,584
DEPRECIATION
At 1 July 2023 18,529 259,885 807,675
Charge for year 60 1,693 25,820
At 30 June 2024 18,589 261,578 833,495
NET BOOK VALUE
At 30 June 2024 180 4,203 182,089
At 30 June 2023 240 4,397 202,482

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors - 8,820
Other debtors 2,345 2,217
Prepayments 3,912 4,453
6,257 15,490

FLYTE SO FANCY LIMITED (REGISTERED NUMBER: 06273394)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts 12,047 11,001
Trade creditors 71,194 78,072
Tax 11,422 9,634
Social security and other taxes 8,441 6,784
VAT 25,031 21,292
Other creditors 20,222 24,805
Directors' current accounts 18,797 73,974
Accruals and deferred income 64,109 48,492
231,263 274,054

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.24 30.6.23
£    £   
Bank loans - 1-2 years 13,092 12,071
Bank loans - 2-5 years 46,496 42,851
Bank loans more 5 yr by instal 122,159 139,048
181,747 193,970

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 122,159 139,048

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
30.6.24 30.6.23
£    £   
Within one year 14,359 13,414
Between one and five years 8,117 -
22,476 13,414

10. SECURED DEBTS

The following secured debts are included within creditors:

30.6.24 30.6.23
£    £   
Bank loans 193,794 204,971

Hire purchase contracts are secured on the asset to which they relate.

The bank loan is secured by way of a fixed and floating charge over the assets of the business and by way of a personal guarantee of the directors.

FLYTE SO FANCY LIMITED (REGISTERED NUMBER: 06273394)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.24 30.6.23
value: £    £   
100 Ordinary £1 100 100