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Registered number: 11702757
Fancy Lifestyle Ltd
Unaudited Financial Statements
For The Year Ended 30 November 2024
JGTAX LLP
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 11702757
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 55,089 64,179
55,089 64,179
CURRENT ASSETS
Stocks 5 47,618 162,983
Debtors 6 625,496 469,501
Cash at bank and in hand 154,469 56,593
827,583 689,077
Creditors: Amounts Falling Due Within One Year 7 (482,647 ) (273,943 )
NET CURRENT ASSETS (LIABILITIES) 344,936 415,134
TOTAL ASSETS LESS CURRENT LIABILITIES 400,025 479,313
Creditors: Amounts Falling Due After More Than One Year 8 (591,313 ) (541,313 )
NET LIABILITIES (191,288 ) (62,000 )
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account (191,388 ) (62,100 )
SHAREHOLDERS' FUNDS (191,288) (62,000)
Page 1
Page 2
For the year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Ms Xiaonan Xie
Director
29/08/2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Fancy Lifestyle Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11702757 . The registered office is 52 Charing Cross Road, Covent Garden, London, WC2H 0BB.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 5 years Straight Line
Fixtures & Fittings 10 years Straight Line
Computer Equipment 4 years Straight Line
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 16 (2023: 14)
16 14
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 December 2023 3,458 77,172 10,341 90,971
Additions 1,032 - 1,000 2,032
As at 30 November 2024 4,490 77,172 11,341 93,003
Depreciation
As at 1 December 2023 1,775 19,794 5,223 26,792
Provided during the period 789 7,717 2,616 11,122
As at 30 November 2024 2,564 27,511 7,839 37,914
...CONTINUED
Page 3
Page 4
Net Book Value
As at 30 November 2024 1,926 49,661 3,502 55,089
As at 1 December 2023 1,683 57,378 5,118 64,179
5. Stocks
2024 2023
£ £
Stock 47,618 162,983
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 350,280 171,682
Other debtors 275,216 297,819
625,496 469,501
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 435,338 241,449
Other creditors 16,511 9,031
Taxation and social security 30,798 23,463
482,647 273,943
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other loans 319,712 319,712
Amounts owed to participating interests 271,601 221,601
591,313 541,313
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 4