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REGISTERED NUMBER: 13793915 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

FANTASY AND REALITY LIMITED

FANTASY AND REALITY LIMITED (REGISTERED NUMBER: 13793915)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FANTASY AND REALITY LIMITED

COMPANY INFORMATION
for the Year Ended 31 December 2024







DIRECTORS: P Smith
Mrs L J Smith





REGISTERED OFFICE: Bank Gallery
High Street
Kenilworth
Warwickshire
CV8 1LY





REGISTERED NUMBER: 13793915 (England and Wales)





ACCOUNTANTS: Bernard Rogers & Co
Bank Gallery
High Street
Kenilworth
Warwickshire
CV8 1LY

FANTASY AND REALITY LIMITED (REGISTERED NUMBER: 13793915)

BALANCE SHEET
31 December 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 29,445 39,385

CURRENT ASSETS
Stocks 110,498 107,980
Debtors 5 30,138 27,481
Cash at bank and in hand 3,686 21,705
144,322 157,166
CREDITORS
Amounts falling due within one year 6 128,072 138,690
NET CURRENT ASSETS 16,250 18,476
TOTAL ASSETS LESS CURRENT
LIABILITIES

45,695

57,861

CREDITORS
Amounts falling due after more than one
year

7

34,106

42,435
NET ASSETS 11,589 15,426

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 11,489 15,326
11,589 15,426

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

FANTASY AND REALITY LIMITED (REGISTERED NUMBER: 13793915)

BALANCE SHEET - continued
31 December 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 28 May 2025 and were signed on its behalf by:





P Smith - Director


FANTASY AND REALITY LIMITED (REGISTERED NUMBER: 13793915)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2024


1. STATUTORY INFORMATION

Fantasy And Reality 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.

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 each asset over its estimated useful life.
Plant and machinery etc - 25% on cost and 20% 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.

Hire purchase and leasing commitments
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.

FANTASY AND REALITY LIMITED (REGISTERED NUMBER: 13793915)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2024


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 8 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2024
and 31 December 2024 49,325
DEPRECIATION
At 1 January 2024 9,940
Charge for year 9,940
At 31 December 2024 19,880
NET BOOK VALUE
At 31 December 2024 29,445
At 31 December 2023 39,385

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 30,138 27,481

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 5,000 5,000
Hire purchase contracts 3,329 3,329
Trade creditors 13,934 22,023
Taxation and social security 14,025 14,161
Other creditors 91,784 94,177
128,072 138,690

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 2,078 7,078
Hire purchase contracts 32,028 35,357
34,106 42,435

FANTASY AND REALITY LIMITED (REGISTERED NUMBER: 13793915)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2024


8. RELATED PARTY DISCLOSURES

At 31 December 2024 other creditors included loans made to the company by the directors of £19,955 (2023: £51,047). The loans are interest free and have no fixed date for repayment.

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is P Smith.