Crossword Genius

On fancy paper, shares preliminary work (12)

Ross

I believe the answer is:

preparations

'preliminary work' is the definition.
(work done to prepare)

'on fancy paper shares' is the wordplay.
'on' means one lot of letters go next to another.
'fancy' indicates an anagram.
'shares' becomes 'rations' (ration is a kind of share).
'paper' is an anagram of 'prepa'.
'prepa'+'rations' is 'PREPARATIONS'.

I've seen this clue in The Guardian.
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