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Company No: 06936925

Lagoon Estates Limited
Unaudited Financial Statements
Year Ended
31 March 2025

Lagoon Estates Limited

Contents

Company Information | 1
Balance Sheet | 2
Notes to the Unaudited Financial Statements | 3 to 7

Lagoon Estates Limited

Company Information

Directors | D M Capra P G Miracca M Higgins

Registered office | Suite 8 Bourne Gate 25 Bourne Valley Road Poole Dorset BH12 1DY

Accountants | Brett Pittwood Chartered Certified AccountantsSuite 8 Bourne Gate 25 Bourne Valley Road Poole Dorset BH12 1DY

Lagoon Estates Limited

(Registration number: 06936925)
Balance Sheet as at 31 March 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 4 | 98,887 | 226,102
Current assets |  |  |
Debtors | 5 | - | 1,475
Cash at bank and in hand |  | 1,576 | 7,103
|  | 1,576 | 8,578
Creditors: Amounts falling due within one year | 6 | (82,538) | (232,348)
Net current liabilities |  | (80,962) | (223,770)
Total assets less current liabilities |  | 17,925 | 2,332
Creditors: Amounts falling due after more than one year | 6 | (152,011) | (262,251)
Net liabilities |  | (134,086) | (259,919)
Capital and reserves |  |  |
Called up share capital |  | 100 | 100
Retained earnings |  | (134,186) | (260,019)
Shareholders' deficit |  | (134,086) | (259,919)

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• | The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
• | The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 27 November 2025 and signed on its behalf by:

D M Capra
Director

Lagoon Estates Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2025

1 | General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Suite 8 Bourne Gate
25 Bourne Valley Road
Poole
Dorset
BH12 1DY
United Kingdom

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Lagoon Estates Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2025

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Lagoon Estates Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2025

Financial instruments

Classification
Financial assets
Basic financial assets
Basic financial assets, which include trade debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Other financial assets
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publically traded and whose fair values cannot be measured reliably are measured at cost less impairment.
Financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including trade and other creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2024 - 3).

Lagoon Estates Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2025

4 | Tangible assets

| Land and buildings £ | Total £
Cost or valuation
At 1 April 2024 | 226,102 | 226,102
Disposals | (127,215) | (127,215)
At 31 March 2025 | 98,887 | 98,887
Depreciation
Carrying amount
At 31 March 2025 | 98,887 | 98,887
At 31 March 2024 | 226,102 | 226,102

5 | Debtors

| 2025 £ | 2024 £
Prepayments | - | 1,475

6 | Creditors

Creditors: amounts falling due within one year

| Note | 2025 £ | 2024 £
Due within one year |  |  |
Loans and borrowings | 7 | 9,840 | 9,600
Accruals and deferred income |  | 1,200 | 3,120
Other creditors |  | 71,498 | 219,628
|  | 82,538 | 232,348

Creditors: amounts falling due after more than one year

| Note | 2025 £ | 2024 £
Due after one year |  |  |
Loans and borrowings | 7 | 152,011 | 262,251

Lagoon Estates Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2025

7 | Loans and borrowings

Non-current loans and borrowings

| 2025 £ | 2024 £
Bank borrowings | 1,827 | 12,067
Other borrowings | 150,184 | 250,184
| 152,011 | 262,251

Current loans and borrowings

| 2025 £ | 2024 £
Bank borrowings | 9,840 | 9,600