REGISTERED NUMBER: |
Unaudited financial statements for the year ended 31 May 2024 |
For |
Marina Resort Holding Ltd |
REGISTERED NUMBER: |
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: |
Secretary: |
Registered office: |
Registered number: |
Marina Resort Holding Ltd (Registered number: 09030798) |
Balance sheet |
31 May 2024 |
2024 | 2023 |
Notes | € | € |
Fixed assets |
Investments | 5 |
Current assets |
Debtors | 6 |
Cash at bank |
Creditors |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
Net current liabilities | ( |
) | ( |
) |
Total assets less current liabilities | ( |
) | ( |
) |
Capital and reserves |
Called up share capital | 8 |
Retained earnings | ( |
) | ( |
) |
Shareholders' funds | ( |
) | ( |
) |
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 were approved by the Board of Directors and authorised for issue on |
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 |
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 |
2024 | 2023 |
€ | € |
Interest free loan - Sarl Les Marines de Babihana | 2,692,867 | 2,742,867 |
Prepayments | 2,027 | 2,027 |
2,694,894 | 2,744,894 |
7. | Creditors: amounts falling due within one year |
2024 | 2023 |
€ | € |
Trade creditors | - | 2,886 |
Shareholder Loans | 5,452,602 | 5,452,604 |
Accruals | 5,529 | 3,798 |
5,458,131 | 5,459,288 |
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: | € | € |
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. |