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REGISTERED NUMBER: 11355062 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

BRIGHTON MARINA GROUP LIMITED

BRIGHTON MARINA GROUP LIMITED (REGISTERED NUMBER: 11355062)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


BRIGHTON MARINA GROUP LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: Mr K P Cooper
Mr R A Goodall
Mr T J Bennett
Mr N J E Black
Ms K A Sullivan





REGISTERED OFFICE: C/o The Brighton Marina Co Ltd
Brighton Marina
Brighton
East Sussex
BN2 5UF





REGISTERED NUMBER: 11355062 (England and Wales)





ACCOUNTANTS: Acuity Professional Partnership LLP
Unit 2.02
High Weald House
Glovers End
Bexhill
East Sussex
TN39 5ES

BRIGHTON MARINA GROUP LIMITED (REGISTERED NUMBER: 11355062)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investments 4 18,971,267 18,971,267

CURRENT ASSETS
Debtors 5 32,207,272 32,724,914

CREDITORS
Amounts falling due within one year 6 51,178,411 51,696,053
NET CURRENT LIABILITIES (18,971,139 ) (18,971,139 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

128

128

CAPITAL AND RESERVES
Called up share capital 7 128 128
SHAREHOLDERS' FUNDS 128 128

BRIGHTON MARINA GROUP LIMITED (REGISTERED NUMBER: 11355062)

STATEMENT OF FINANCIAL POSITION - continued
31 MARCH 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

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 Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 September 2023 and were signed on its behalf by:




Ms K A Sullivan - Director



Mr N J E Black - Director


BRIGHTON MARINA GROUP LIMITED (REGISTERED NUMBER: 11355062)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

Brighton Marina Group 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.

PREPARATION OF CONSOLIDATED FINANCIAL STATEMENTS
The financial statements contain information about Brighton Marina Group Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

INVESTMENTS IN SUBSIDIARIES
Investments in subsidiary undertakings are recognised at cost.

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4. FIXED ASSET INVESTMENTS
Shares in
group
undertaking
£   
Cost
At 1 April 2022
and 31 March 2023 18,971,267
Net book value
At 31 March 2023 18,971,267
At 31 March 2022 18,971,267

BRIGHTON MARINA GROUP LIMITED (REGISTERED NUMBER: 11355062)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


5. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Amounts owed by group undertakings 200,000 200,000
Other debtors 128 128
200,128 200,128

Amounts falling due after more than one year:
Amounts owed by group undertakings 32,007,144 32,524,786

Aggregate amounts 32,207,272 32,724,914

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed to group undertakings 200,000 200,000
Other creditors 50,978,411 51,496,053
51,178,411 51,696,053

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
12,820 Ordinary £.01 128 128

8. RELATED PARTY DISCLOSURES

Other creditors includes amounts of £5,000,000 (2022: £5,000,000) which was loaned by R A Goodall (a Director and shareholder) and £43,705,178 (2022:£43,705,178) which was loaned by ICG Longbow Development (Brighton) Limited (a shareholder). Both these loans are repayable on demand.

Outer Harbour Development Limited has a loan outstanding of £32,207,144 (2022: £32,724,786) at the balance sheet date. The loan is due to be repaid to the company in 10 years, is shown in debtors and the rate of interest is 0%.

The Brighton Marina Company Limited has a loan outstanding of £200,000 (2022: £200,000) at the balance sheet date. The loan is repayable on demand and is shown in Creditors, Amounts owed to group undertakings.

Loan from Brunswick Development Group Limited of £2,273,233 (2022: £2,790,875) was outstanding at the balance sheet date. The loan is repayable on demand and is shown in Other creditors and interest is charged at 9%.

9. ULTIMATE CONTROLLING PARTY

The company is controlled by R A Goodall and ICG Longbow Development (Brighton) Limited.