| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 December 2024 |
| for |
| Fancy Resorts Ltd |
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 December 2024 |
| for |
| Fancy Resorts Ltd |
| Fancy Resorts Ltd (Registered number: 12096573) |
| Contents of the Financial Statements |
| for the Year Ended 31 December 2024 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 4 |
| Fancy Resorts Ltd |
| Company Information |
| for the Year Ended 31 December 2024 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Certified Accountants |
| 3rd Floor |
| 9 St. Clare Street |
| London |
| EC3N 1LQ |
| Fancy Resorts Ltd (Registered number: 12096573) |
| Statement of Financial Position |
| 31 December 2024 |
| 31.12.24 | 31.12.23 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 8 | ( |
) |
| PROVISIONS FOR LIABILITIES | 9 | ( |
) |
| NET ASSETS/(LIABILITIES) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Revaluation reserve | 10 |
| Retained earnings | 10 | ( |
) | ( |
) |
| ( |
) |
| The director acknowledges her 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. |
| Fancy Resorts Ltd (Registered number: 12096573) |
| Statement of Financial Position - continued |
| 31 December 2024 |
| The financial statements were approved by the director and authorised for issue on |
| Fancy Resorts Ltd (Registered number: 12096573) |
| Notes to the Financial Statements |
| for the Year Ended 31 December 2024 |
| 1. | STATUTORY INFORMATION |
| Fancy Resorts Ltd is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Goodwill |
| 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. |
| Tangible fixed assets |
| Fixtures and fittings | - |
| Financial instruments |
| Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. |
| Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. |
| 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 statement of financial position date. |
| Fancy Resorts Ltd (Registered number: 12096573) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 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 statement of financial position 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | INTANGIBLE FIXED ASSETS |
| Goodwill |
| £ |
| COST |
| At 1 January 2024 |
| and 31 December 2024 |
| NET BOOK VALUE |
| At 31 December 2024 |
| At 31 December 2023 |
| 5. | TANGIBLE FIXED ASSETS |
| Plant and |
| Land and | machinery |
| buildings | etc | Totals |
| £ | £ | £ |
| COST OR VALUATION |
| At 1 January 2024 |
| Revaluations |
| At 31 December 2024 |
| DEPRECIATION |
| At 1 January 2024 |
| Charge for year |
| At 31 December 2024 |
| NET BOOK VALUE |
| At 31 December 2024 |
| At 31 December 2023 |
| Fancy Resorts Ltd (Registered number: 12096573) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 5. | TANGIBLE FIXED ASSETS - continued |
| Included in cost or valuation of land and buildings is freehold land of £ 1,700,000 (2023 - £ 1,360,123 ) which is not depreciated. |
| Cost or valuation at 31 December 2024 is represented by: |
| Plant and |
| Land and | machinery |
| buildings | etc | Totals |
| £ | £ | £ |
| Valuation in 2020 | 1,360,123 | 49,999 | 1,410,122 |
| Valuation in 2024 | 339,877 | - | 339,877 |
| 1,700,000 | 49,999 | 1,749,999 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.12.24 | 31.12.23 |
| £ | £ |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.12.24 | 31.12.23 |
| £ | £ |
| Trade creditors |
| Amounts owed to group undertakings |
| Other creditors |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.12.24 | 31.12.23 |
| £ | £ |
| Other creditors |
| Amounts falling due in more than five years: |
| Repayable otherwise than by instalments |
| Other loans more 5yrs non-inst |
| 9. | PROVISIONS FOR LIABILITIES |
| 31.12.24 | 31.12.23 |
| £ | £ |
| Deferred tax | 84,969 | - |
| Fancy Resorts Ltd (Registered number: 12096573) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 9. | PROVISIONS FOR LIABILITIES - continued |
| Deferred |
| tax |
| £ |
| Provided during year |
| Balance at 31 December 2024 |
| 10. | RESERVES |
| Retained | Revaluation |
| earnings | reserve | Totals |
| £ | £ | £ |
| At 1 January 2024 | ( |
) | (161,605 | ) |
| Deficit for the year | ( |
) | ( |
) |
| Property Revaluation reserve c | - | 339,877 | 339,877 |
| Deferred Tax on Revaluation | - | (84,969 | ) | (84,969 | ) |
| At 31 December 2024 | ( |
) | 86,382 |
| 11. | CONTINGENT LIABILITIES |
| The company has provided a guarantee as security to the bank borrowings of Fancy Hotels Limited, over the company is under common control. |
| 12. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the year ended 31 December 2024 and the period ended 31 December 2023: |
| 31.12.24 | 31.12.23 |
| £ | £ |
| Balance outstanding at start of year | ( |
) | ( |
) |
| Amounts advanced | ( |
) |
| Amounts repaid |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year | ( |
) | ( |
) |
| Fancy Resorts Ltd (Registered number: 12096573) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 12. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES - continued |
| Ms R Yao |
| Director - Short term loan |
| Amount due to related party at the balance sheet date £28,911 (2023: £28,400) |
| Ms R Yao |
| Director - Unsecured directors loan |
| Amount due to related party at the balacne sheet date £1,512,830 (2023: £1,512,830) |