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REGISTERED NUMBER: 00358273 (England and Wales)












Financial Statements

for the Year Ended 30 September 2024

for

MARINE PROPERTY INVESTMENTS (BRIGHTON)
LIMITED

MARINE PROPERTY INVESTMENTS (BRIGHTON)
LIMITED (REGISTERED NUMBER: 00358273)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MARINE PROPERTY INVESTMENTS (BRIGHTON)
LIMITED

Company Information
for the Year Ended 30 September 2024







DIRECTOR: S Krick





SECRETARY: T C Paddenburg





REGISTERED OFFICE: 100 Church Street
Brighton
East Sussex
BN1 1UJ





REGISTERED NUMBER: 00358273 (England and Wales)





ACCOUNTANTS: Paddenburg & Co Limited
100 Church Street
Brighton
East Sussex
BN1 1UJ

MARINE PROPERTY INVESTMENTS (BRIGHTON)
LIMITED (REGISTERED NUMBER: 00358273)

Balance Sheet
30 September 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,955 3,490
Investment property 5 2,436,188 2,436,188
2,439,143 2,439,678

CURRENT ASSETS
Debtors 6 30,639 33,413
Cash at bank 36,262 15,077
66,901 48,490
CREDITORS
Amounts falling due within one year 7 76,711 71,231
NET CURRENT LIABILITIES (9,810 ) (22,741 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,429,333

2,416,937

CREDITORS
Amounts falling due after more than one
year

8

(321,300

)

(321,300

)

PROVISIONS FOR LIABILITIES 10 (239,566 ) (239,700 )
NET ASSETS 1,868,467 1,855,937

CAPITAL AND RESERVES
Called up share capital 100 100
Undistributable reserve 1,209,800 1,209,800
Retained earnings 658,567 646,037
SHAREHOLDERS' FUNDS 1,868,467 1,855,937

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

MARINE PROPERTY INVESTMENTS (BRIGHTON)
LIMITED (REGISTERED NUMBER: 00358273)

Balance Sheet - continued
30 September 2024


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 8 June 2025 and were signed by:





S Krick - Director


MARINE PROPERTY INVESTMENTS (BRIGHTON)
LIMITED (REGISTERED NUMBER: 00358273)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

Marine Property Investments (Brighton) 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents amounts receivable for rents, on a time apportioned basis, from investment properties.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

MARINE PROPERTY INVESTMENTS (BRIGHTON)
LIMITED (REGISTERED NUMBER: 00358273)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 October 2023 7,146
Additions 849
Disposals (1,114 )
At 30 September 2024 6,881
DEPRECIATION
At 1 October 2023 3,656
Charge for year 836
Eliminated on disposal (566 )
At 30 September 2024 3,926
NET BOOK VALUE
At 30 September 2024 2,955
At 30 September 2023 3,490

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2023
and 30 September 2024 2,436,188
NET BOOK VALUE
At 30 September 2024 2,436,188
At 30 September 2023 2,436,188

Fair value at 30 September 2024 is represented by:
£   
Valuation in 2017 458,182
Valuation in 2013 (580,000 )
Valuation in 2012 715,000
Valuation in 2011 1,849
Valuation in 2007 11,664
Valuation in 2006 48,523
Valuation in 2005 22,500
Valuation in 2004 770,909
Cost 987,561
2,436,188

If the investment properties had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 987,561 987,561

MARINE PROPERTY INVESTMENTS (BRIGHTON)
LIMITED (REGISTERED NUMBER: 00358273)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

5. INVESTMENT PROPERTY - continued

An independent valuation, on a rental yield basis as at 30th September 2023 validated the figures shown above.

The director confirmed that as at 30th September 2024, there was no change to the market values of the properties.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Rent due from tenants 12,245 14,951
Other debtors 11,375 11,375
Prepayments 7,019 7,087
30,639 33,413

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 433 198
Corporation tax 19,210 12,424
Social security and other taxes (1 ) -
Tenant deposits held 24,208 23,708
Directors' loan accounts 13,278 15,977
Deferred income 14,923 14,264
Accrued expenses 4,660 4,660
76,711 71,231

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans more 5 yrs non-inst 321,300 321,300

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 321,300 321,300

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 321,300 321,300

The bank loan is secured with a mortgage over one of the company's freehold investment properties.

MARINE PROPERTY INVESTMENTS (BRIGHTON)
LIMITED (REGISTERED NUMBER: 00358273)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 239,566 239,700

Deferred
tax
£   
Balance at 1 October 2023 239,700
Utilised during year (134 )
Balance at 30 September 2024 239,566

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is S Krick.