According to IAS 19, the surplus or deficit in a pension plan should be recognized as a component of the net defined benefit asset or liability. In the case of Florian Ltd., the surplus in Plan 1 cannot be used to settle the obligations under Plan 2. Therefore, the presentation of net assets and net liabilities in the balance sheet should reflect the overall position of both plans combined.

For Plan 1, there is a surplus of 75,000, but since it cannot be used to offset the obligations under Plan 2, the surplus in Plan 1 should not be considered in reducing the net pension liability in Plan 2. As a result, the net pension liability of 100,000 from Plan 2 should be reported as a net non-current liability.

Hence, the balance sheet presentation in accordance with IAS 19 would show:

A net non-current liability of 100,000 and no net assets.

The surplus in Plan 1 is not reflected in the net assets, as it cannot be used to offset the obligations under Plan 2. Thus, it's not appropriate to present it as a net asset in the balance sheet.