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REGISTERED NUMBER: 07717835 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

FOR

MONTE LAGUNA 2 LIMITED

MONTE LAGUNA 2 LIMITED (REGISTERED NUMBER: 07717835)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MONTE LAGUNA 2 LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTORS: K S Gosal
S S Gosal





SECRETARIES: N Gosal
R Gosal





REGISTERED OFFICE: The Courtyard
30 London Street
Chertsey
Surrey
KT16 8AA





REGISTERED NUMBER: 07717835 (England and Wales)





ACCOUNTANTS: Watson Associates (Professional Services) Ltd
30 - 34 North Street
Hailsham
East Sussex
BN27 1DW

MONTE LAGUNA 2 LIMITED (REGISTERED NUMBER: 07717835)

BALANCE SHEET
31 AUGUST 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 443,929 271,966
443,929 271,966

CURRENT ASSETS
Stocks 31,979 29,081
Debtors 6 569,478 443,336
Cash at bank and in hand 270,353 1,290,202
871,810 1,762,619
CREDITORS
Amounts falling due within one year 7 (989,268 ) (1,770,255 )
NET CURRENT LIABILITIES (117,458 ) (7,636 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

326,471

264,330

PROVISIONS FOR LIABILITIES 9 (93,030 ) (50,527 )
NET ASSETS 233,441 213,803

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 233,341 213,703
SHAREHOLDERS' FUNDS 233,441 213,803

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

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

MONTE LAGUNA 2 LIMITED (REGISTERED NUMBER: 07717835)

BALANCE SHEET - continued
31 AUGUST 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 27 May 2025 and were signed on its behalf by:





K S Gosal - Director


MONTE LAGUNA 2 LIMITED (REGISTERED NUMBER: 07717835)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1. STATUTORY INFORMATION

Monte Laguna 2 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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.
Franchise Improvements - over term of lease
Office equipment - 25% on reducing balance and 15% on reducing balance
Fixtures and fittings - 25% on reducing balance and 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

MONTE LAGUNA 2 LIMITED (REGISTERED NUMBER: 07717835)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, and loans to related parties.

Debt instruments that are payable or receivable within one year, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received; other debt instruments are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the balance sheet only when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

MONTE LAGUNA 2 LIMITED (REGISTERED NUMBER: 07717835)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 182 (2023 - 197 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2023
and 31 August 2024 1,518,553
AMORTISATION
At 1 September 2023
and 31 August 2024 1,518,553
NET BOOK VALUE
At 31 August 2024 -
At 31 August 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
Franchise Office and
Improvements equipment fittings Totals
£    £    £    £   
COST
At 1 September 2023 48,369 87,662 597,944 733,975
Additions - - 212,722 212,722
At 31 August 2024 48,369 87,662 810,666 946,697
DEPRECIATION
At 1 September 2023 9,405 58,783 393,821 462,009
Charge for year 1,344 4,332 35,083 40,759
At 31 August 2024 10,749 63,115 428,904 502,768
NET BOOK VALUE
At 31 August 2024 37,620 24,547 381,762 443,929
At 31 August 2023 38,964 28,879 204,123 271,966

MONTE LAGUNA 2 LIMITED (REGISTERED NUMBER: 07717835)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:
Franchise
Improvemen
£   
COST
At 1 September 2023
and 31 August 2024 48,369
DEPRECIATION
At 1 September 2023 9,405
Charge for year 1,344
At 31 August 2024 10,749
NET BOOK VALUE
At 31 August 2024 37,620
At 31 August 2023 38,964

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 117 83
Other debtors 569,361 443,253
569,478 443,336

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 142,013 103,356
Taxation and social security 182,040 345,579
Other creditors 665,215 1,321,320
989,268 1,770,255

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 190,336 198,667
Between one and five years 522,913 540,749
In more than five years 515,375 207,375
1,228,624 946,791

MONTE LAGUNA 2 LIMITED (REGISTERED NUMBER: 07717835)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 93,030 50,527

Deferred
tax
£   
Balance at 1 September 2023 50,527
Charge to Income Statement during year 42,503
Balance at 31 August 2024 93,030

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
38 Ordinary A £1 38 38
38 Ordinary B £1 38 38
12 Ordinary C £1 12 12
12 Ordinary D £1 12 12
100 100

11. RELATED PARTY DISCLOSURES

Included in other debtors at the year end were amounts totalling £178,113 (2023 - £406,113) due from companies under common control.

Similarly included in other creditors were amounts totalling £374,139 (2023 - £275,039) due to companies under common control.