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REGISTERED NUMBER: 08265109 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2024

for

Monarch Lakes And Tackle Limited

Monarch Lakes And Tackle Limited (Registered number: 08265109)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 6

Monarch Lakes And Tackle Limited

Company Information
for the Year Ended 31 May 2024







DIRECTORS: Mrs K J Futter
G R Futter





REGISTERED OFFICE: Endeavour House
7 Enterprise Way
Pinchbeck
Spalding
Lincolnshire
PE11 3YR





REGISTERED NUMBER: 08265109 (England and Wales)





ACCOUNTANTS: INSIGHT
Acorn House
Church Lane
Croft
Skegness
Lincolnshire
PE24 4RW

Monarch Lakes And Tackle Limited (Registered number: 08265109)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 144,943 102,324

CURRENT ASSETS
Stocks 27,450 27,100
Debtors 5 3,250 302
Cash at bank 12,149 4,371
42,849 31,773
CREDITORS
Amounts falling due within one year 6 55,901 21,612
NET CURRENT (LIABILITIES)/ASSETS (13,052 ) 10,161
TOTAL ASSETS LESS CURRENT
LIABILITIES

131,891

112,485

CAPITAL AND RESERVES
Called up share capital 7 1,000 1,000
Retained earnings 8 130,891 111,485
SHAREHOLDERS' FUNDS 131,891 112,485

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

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

Monarch Lakes And Tackle Limited (Registered number: 08265109)

Balance Sheet - continued
31 May 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 August 2024 and were signed on its behalf by:




G R Futter - Director



Mrs K J Futter - Director


Monarch Lakes And Tackle Limited (Registered number: 08265109)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Monarch Lakes And Tackle 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 - 20% on cost
Computer equipment - 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - 2 ).

Monarch Lakes And Tackle Limited (Registered number: 08265109)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

4. TANGIBLE FIXED ASSETS
Improvements
to Plant and Computer
property machinery equipment Totals
£    £    £    £   
COST
At 1 June 2023 151,161 75,051 1,915 228,127
Additions - 420 - 420
At 31 May 2024 151,161 75,471 1,915 228,547
DEPRECIATION
At 1 June 2023 55,965 68,882 956 125,803
Charge for year (43,776 ) 1,231 346 (42,199 )
At 31 May 2024 12,189 70,113 1,302 83,604
NET BOOK VALUE
At 31 May 2024 138,972 5,358 613 144,943
At 31 May 2023 95,196 6,169 959 102,324

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Other debtors 3,250 302

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Taxation and social security 361 -
Other creditors 55,540 21,612
55,901 21,612

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.24 31.5.23
value: £    £   
1,000 Ordinary £1.00 1,000 1,000

8. RESERVES
Retained
earnings
£   

At 1 June 2023 111,485
Profit for the year 39,406
Dividends (20,000 )
At 31 May 2024 130,891

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Monarch Lakes And Tackle Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Monarch Lakes And Tackle Limited for the year ended 31 May 2024 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Monarch Lakes And Tackle Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Monarch Lakes And Tackle Limited and state those matters that we have agreed to state to the Board of Directors of Monarch Lakes And Tackle Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Monarch Lakes And Tackle Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Monarch Lakes And Tackle Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Monarch Lakes And Tackle Limited. You consider that Monarch Lakes And Tackle Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Monarch Lakes And Tackle Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






INSIGHT
Acorn House
Church Lane
Croft
Skegness
Lincolnshire
PE24 4RW


28 August 2024