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REGISTERED NUMBER: 06972866 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

MONGAS KIDS WEAR LIMITED

MONGAS KIDS WEAR LIMITED (REGISTERED NUMBER: 06972866)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


MONGAS KIDS WEAR LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTORS: Ankit Monga
Arun Monga





SECRETARY: Ankit Monga





REGISTERED OFFICE: 60-66 The Broadway
Southall
UB1 1QB





REGISTERED NUMBER: 06972866 (England and Wales)





ACCOUNTANTS: Param & Company Ltd
1st Floor
44 - 50 The Broadway
Southall
Middlesex
UB1 1QB

MONGAS KIDS WEAR LIMITED (REGISTERED NUMBER: 06972866)

ABRIDGED BALANCE SHEET
29 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 10,832,229 10,711,231
Investments 5 100 100
10,832,329 10,711,331

CURRENT ASSETS
Stocks 1,782,400 1,797,940
Debtors 250,461 122,669
Cash in hand 3,589 6,177
2,036,450 1,926,786
CREDITORS
Amounts falling due within one year 1,862,724 2,841,478
NET CURRENT ASSETS/(LIABILITIES) 173,726 (914,692 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

11,006,055

9,796,639

CREDITORS
Amounts falling due after more than one year (6,811,108 ) (6,275,050 )

PROVISIONS FOR LIABILITIES (157,578 ) (102,148 )
NET ASSETS 4,037,369 3,419,441

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 6 221,053 221,053
Retained earnings 3,816,216 3,198,288
SHAREHOLDERS' FUNDS 4,037,369 3,419,441

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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.

MONGAS KIDS WEAR LIMITED (REGISTERED NUMBER: 06972866)

ABRIDGED BALANCE SHEET - continued
29 FEBRUARY 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 29 February 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 November 2024 and were signed on its behalf by:





Ankit Monga - Director


MONGAS KIDS WEAR LIMITED (REGISTERED NUMBER: 06972866)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1. STATUTORY INFORMATION

Mongas Kids Wear 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 as modified by the revaluation of certain assets.

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.
Freehold property - 2% on cost
Plant and machinery - 25% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 20% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at 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 27 (2023 - 28 ) .

MONGAS KIDS WEAR LIMITED (REGISTERED NUMBER: 06972866)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

4. TANGIBLE FIXED ASSETS
Totals
£   
COST OR VALUATION
At 1 March 2023 12,053,143
Additions 407,596
Disposals (53,958 )
At 29 February 2024 12,406,781
DEPRECIATION
At 1 March 2023 1,341,912
Charge for year 232,640
At 29 February 2024 1,574,552
NET BOOK VALUE
At 29 February 2024 10,832,229
At 28 February 2023 10,711,231

Cost or valuation at 29 February 2024 is represented by:

Totals
£   
Valuation in 2018 221,053
Cost 12,185,728
12,406,781

5. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST
At 1 March 2023
and 29 February 2024 100
NET BOOK VALUE
At 29 February 2024 100
At 28 February 2023 100

6. RESERVES
Fair
value
reserve
£   
At 1 March 2023
and 29 February 2024 221,053