Flying Fantastic Ltd
Exception report
for the year ended 28 February 2025
The following differences exist between the previous year's closing balances per the accounts and the
current year's opening balances per the Trial Balance:
Reserves
Opening balance at
1 March 2024 per
TB 		Balance at 29
February 2024 per
accounts 		Difference
£ £ £
Share premium reserve (Account 969) - 379,020 (379,020)
Profit and loss account (Account 968) 239,042 239,042 -
239,042 618,062 (379,020)
This page does not form part of the statutory financial statements.
Company registration number: 07525105
Unaudited financial statements
for the year ended 28 February 2025
for
Flying Fantastic Ltd
Pages for filing with the Registrar
Company registration number: 07525105
Flying Fantastic Ltd
Balance sheet
as at 28 February 2025
28 Feb 25 29 Feb 24
Note £ £ £ £
Fixed assets
Tangible assets 4 234,712 198,180
234,712 198,180
Current assets
Debtors 191,757 478,046
Prepayments and accrued income 15,510 15,512
Cash at bank and in hand 229,475 51,338
436,742 544,896
Creditors: amounts falling due within one
year 		(140,746) (124,014)
Net current assets 295,996 420,882
Total assets less current liabilities 530,708 619,062
NET ASSETS 530,708 619,062
Capital and reserves
Called up share capital 1,000 1,000
Share premium account - 379,020
Profit and loss account 529,708 239,042
TOTAL EQUITY 530,708 619,062
The company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies for the year ended 28 February 2025.
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 to comply with the Companies Act 2006 in respect to accounting records and the preparation of financial statements.
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Company registration number: 07525105
Flying Fantastic Ltd
Balance sheet - continued
as at 28 February 2025
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 Profit and loss account has not been delivered to the Registrar.
These financial statements were approved by the Board of directors and authorised for issue on 17 November 2025 and signed on its behalf by:
Mr C Wigan, Director
17 November 2025
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Flying Fantastic Ltd
Notes to the financial statements
for the year ended 28 February 2025
1 Company information
Flying Fantastic Ltd is a private company registered in England and Wales. Its registered number is 07525105. The company is limited by shares. Its registered office is Abingworth, New England Lane, Rye, East Sussex, TN31 7NT.
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 historic cost convention.
Going concern
In preparing these financial statements, the directors have assessed whether there are any material uncertainties related to events or conditions that cast significant doubt upon the company's ability to continue as a going concern. In making this assessment, the directors take into account all available information about the future which is at least 12 months from the date that the financial statements are authorised for issue.
The directors consider that the company has adequate resources to continue in business for the foreseeable future and that it is appropriate to adopt the going concern basis in preparing the financial statements.
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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Property Fit Out and Fixtures and Fittings:
Improvements to Property - 10% straight line
Plant and machinery - 10% straight line
Fixtures and Fittings - 20% straight line
Taxation
Taxation for the year comprises current taxation. Tax is recognised in the Profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current 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.
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Flying Fantastic Ltd
Notes to the financial statements - continued
for the year ended 28 February 2025
2 Accounting policies - continued
Retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit and loss in the period to which they relate.
3 Average number of employees
During the year the average number of employees was 4 (2024 - 4).
4 Tangible fixed assets
Property Fit
Out and
Fixtures and
Fittings
£
Cost
At 1 March 2024 683,635
Additions 112,831
At 28 February 2025 796,466
Depreciation
At 1 March 2024 485,455
Charge for year 76,299
At 28 February 2025 561,754
Net book value
At 28 February 2025 234,712
At 29 February 2024 198,180
5 Post balance sheet events
A dividend was declared in the year to 28 February 2025 but not paid during that year.
6 Special resolution
On 31 July 2024, by means of a special resolution in
accordance with sections 641 and 642 of the Companies
Act 2006 , the company cancelled its issued share
premium of £379,020 and credited the same amount to
the company's reserves.
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Flying Fantastic Ltd
Notes to the financial statements - continued
for the year ended 28 February 2025
7 Charitable donations
The company made a donation of £100 to the Katie
Hardwick bursary foundation.
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