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REGISTERED NUMBER: 09030798 (England and Wales)















Unaudited financial statements for the year ended 31 May 2024

For

Marina Resort Holding Ltd

Marina Resort Holding Ltd (Registered number: 09030798)






Contents of the financial statements
for the Year Ended 31 May 2024




Page

Company information 1

Balance sheet 2

Notes to the financial statements 3


Marina Resort Holding Ltd

Company information
for the Year Ended 31 May 2024







Directors: Global Assistance Services Sa
A S Mazzotta





Secretary: Vistra Cosec Limited





Registered office: Suite 1, 7th Floor, 50 Broadway
London
United Kingdom
SW1H 0BL





Registered number: 09030798 (England and Wales)






Marina Resort Holding Ltd (Registered number: 09030798)

Balance sheet
31 May 2024

2024 2023
Notes €    €   
Fixed assets
Investments 5 2,594,656 2,594,656

Current assets
Debtors 6 2,694,894 2,744,894
Cash at bank 36,850 2,828
2,731,744 2,747,722
Creditors
Amounts falling due within one year 7 (5,458,131 ) (5,459,288 )
Net current liabilities (2,726,387 ) (2,711,566 )
Total assets less current liabilities (131,731 ) (116,910 )

Capital and reserves
Called up share capital 8 122 122
Retained earnings (131,853 ) (117,032 )
Shareholders' funds (131,731 ) (116,910 )

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

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

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 11 November 2024 and were signed on its behalf by:




A S Mazzotta - Director


Marina Resort Holding Ltd (Registered number: 09030798)

Notes to the financial statements
for the Year Ended 31 May 2024

1. Statutory information

The principal activity of Marina Resort Holding Ltd is that of an holding company, holding shares in the tourism industry in Africa.

The company is a private company limited by shares and incorporated in the UK. Its registered office is Suite 1, 7th Floor, 50 Broadway, London, SW1H 0BL, United Kingdom. The company’s registered number is 9030798.

The financial statements are presented in Euro, which is the functional currency of the company

The company has no employees.

2. Statement of compliance

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.

3. Accounting policies

Basis of preparation
These financial statements are prepared on a going concern basis, under the historical cost convention, as modified by the revaluation of certain financial assets and liabilities measured at fair value through the statement of comprehensive income.

Going concern

The company is dependent on the continued financial support of the lenders in order to enable it to continue operating and to meet its liabilities as they fall due. The lenders have agreed to continue to provide financial support to the company and accordingly the directors have prepared the financial statements under the going concern concept.

Revenue recognition

Revenue is recognised when it is probable that the economic benefits associated with the transaction will flow to the Company and the amount of the revenue can be measured reliably.

Expenses

Expenses are recognised on an accruals basis.

Foreign currency

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the statement of comprehensive income.


Marina Resort Holding Ltd (Registered number: 09030798)

Notes to the financial statements - continued
for the Year Ended 31 May 2024
Investments

Unquoted investments

Unquoted investments are stated at cost. Any surplus or deficit arising on the disposal of investments is transferred to the statement of comprehensive income.

4. Employees and directors

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

5. Fixed asset investments

2024 2023
€    €   

Brought and carried forward
2,594,656 2,594,656

Analysed as:
Les Marines de Babihana - 49,998 shares (99.99%) 2,594,656 2,594,696


Les Marines de Babihana
On 15 May 2014 the Company acquired 998 shares which represented 99.80% of the share capital of the company Les Marines de Babihana.

On 4 December 2018 the share capital of Les Marines de Babihana was reorganised and the Company subscribed for an additional 49,000 shares in order to preserve its 99.99% shareholding.

6. Debtors: amounts falling due within one year

20242023
€   €   

Interest free loan - Sarl Les Marines de Babihana2,692,8672,742,867
Prepayments2,0272,027

2,694,8942,744,894

7. Creditors: amounts falling due within one year

20242023
€   €   

Trade creditors-2,886
Shareholder Loans5,452,6025,452,604
Accruals5,5293,798

5,458,1315,459,288

Marina Resort Holding Ltd (Registered number: 09030798)

Notes to the financial statements - continued
for the Year Ended 31 May 2024

8. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: €    €   
122 Ordinary 1 122 122

9. Related party transactions and ultimate controlling party

The company discloses transactions with related parties which are not wholly owned within the same group. It does not disclose transactions with members of the same group that are wholly owned.

Les Marines de Babihana is a related party as at 31 May 2024.