IRIS Accounts Production v25.1.4.42 11076614 director 1.4.23 30.9.24 30.9.24 0 0 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh110766142023-03-31110766142024-09-30110766142023-04-012024-09-30110766142022-03-31110766142022-04-012023-03-31110766142023-03-3111076614ns15:EnglandWales2023-04-012024-09-3011076614ns14:PoundSterling2023-04-012024-09-3011076614ns10:Director12023-04-012024-09-3011076614ns10:PrivateLimitedCompanyLtd2023-04-012024-09-3011076614ns10:SmallEntities2023-04-012024-09-3011076614ns10:AuditExemptWithAccountantsReport2023-04-012024-09-3011076614ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-09-3011076614ns10:SmallCompaniesRegimeForAccounts2023-04-012024-09-3011076614ns10:FullAccounts2023-04-012024-09-3011076614ns10:RegisteredOffice2023-04-012024-09-3011076614ns5:CurrentFinancialInstruments2024-09-3011076614ns5:CurrentFinancialInstruments2023-03-3111076614ns5:Non-currentFinancialInstruments2024-09-3011076614ns5:Non-currentFinancialInstruments2023-03-3111076614ns5:ShareCapital2024-09-3011076614ns5:ShareCapital2023-03-3111076614ns5:RetainedEarningsAccumulatedLosses2024-09-3011076614ns5:RetainedEarningsAccumulatedLosses2023-03-3111076614ns5:ComputerEquipment2023-04-012024-09-3011076614ns5:WithinOneYearns5:CurrentFinancialInstruments2024-09-3011076614ns5:WithinOneYearns5:CurrentFinancialInstruments2023-03-3111076614ns5:MoreThanFiveYears2024-09-3011076614ns5:MoreThanFiveYears2023-03-3111076614ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2024-09-3011076614ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2023-03-3111076614ns5:Secured2024-09-3011076614ns5:Secured2023-03-3111076614ns5:RetainedEarningsAccumulatedLosses2023-03-3111076614ns5:RetainedEarningsAccumulatedLosses2023-04-012024-09-30
REGISTERED NUMBER: 11076614 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 APRIL 2023 TO 30 SEPTEMBER 2024

FOR

74 MARINA PROPERTY LIMITED

74 MARINA PROPERTY LIMITED (REGISTERED NUMBER: 11076614)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 APRIL 2023 TO 30 SEPTEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

74 MARINA PROPERTY LIMITED

COMPANY INFORMATION
FOR THE PERIOD 1 APRIL 2023 TO 30 SEPTEMBER 2024







DIRECTOR: I Exley





REGISTERED OFFICE: 28 Wilton Road
Bexhill on Sea
East Sussex
TN40 1EZ





REGISTERED NUMBER: 11076614 (England and Wales)





ACCOUNTANTS: Ashdown Hurrey
Chartered Accountants & Business Advisers
28 Wilton Road
Bexhill on Sea
East Sussex
TN40 1EZ

74 MARINA PROPERTY LIMITED (REGISTERED NUMBER: 11076614)

BALANCE SHEET
30 SEPTEMBER 2024

30.9.24 31.3.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 - 102
Investment property 5 874,000 908,802
874,000 908,904

CURRENT ASSETS
Debtors 6 61,943 56,900
Cash at bank and in hand 14 2,801
61,957 59,701
CREDITORS
Amounts falling due within one year 7 296,809 298,640
NET CURRENT LIABILITIES (234,852 ) (238,939 )
TOTAL ASSETS LESS CURRENT LIABILITIES 639,148 669,965

CREDITORS
Amounts falling due after more than one year 8 (356,809 ) (356,809 )

PROVISIONS FOR LIABILITIES (120,460 ) (103,217 )
NET ASSETS 161,879 209,939

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 10 161,779 209,839
161,879 209,939

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

The members have not required the company to obtain an audit of its financial statements for the period 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.

74 MARINA PROPERTY LIMITED (REGISTERED NUMBER: 11076614)

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 27 June 2025 and were signed by:





I Exley - Director


74 MARINA PROPERTY LIMITED (REGISTERED NUMBER: 11076614)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 APRIL 2023 TO 30 SEPTEMBER 2024

1. STATUTORY INFORMATION

74 Marina Property 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.

The director has made an assessment about the company's ability to continue as a going concern and they do not consider there to be any material uncertainties as all liabilities continue to be met as they fall due.
As a result they have adopted the going concern basis of accounting.

Turnover
Turnover represents rent income and ground rents received, excluding value added tax.

Turnover is recognised at the point at which consideration is due.

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 - 33% on cost

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 period 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 period 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 period was NIL (2023 - NIL).

4. TANGIBLE FIXED ASSETS


74 MARINA PROPERTY LIMITED (REGISTERED NUMBER: 11076614)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 APRIL 2023 TO 30 SEPTEMBER 2024

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 908,802
Revaluations (34,802 )
At 30 September 2024 874,000
NET BOOK VALUE
At 30 September 2024 874,000
At 31 March 2023 908,802

Fair value at 30 September 2024 is represented by:
£   
Valuation in 2019 30,543
Valuation in 2020 213,000
Valuation in 2021 280,802
Valuation in 2023 (135,000 )
Valuation in 2024 (34,802 )
Cost 519,457
874,000

If freehold investment property had not been revalued it would have been included at the following historical cost:

30.9.24 31.3.23
£    £   
Cost 519,457 519,457

Freehold investment property was valued on an open market basis on 30 September 2024 by the director .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 31.3.23
£    £   
Trade debtors - 2,546
Other debtors 61,943 54,354
61,943 56,900

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 31.3.23
£    £   
Bank loans and overdrafts 2,550 -
Other creditors 285,551 291,191
Directors' current accounts 6,248 6,248
Accrued expenses 2,460 1,201
296,809 298,640

74 MARINA PROPERTY LIMITED (REGISTERED NUMBER: 11076614)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 APRIL 2023 TO 30 SEPTEMBER 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.9.24 31.3.23
£    £   
Other loans more 5yrs non-inst 356,809 356,809

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Other loans more 5yrs non-inst 356,809 356,809

9. SECURED DEBTS

The following secured debts are included within creditors:

30.9.24 31.3.23
£    £   
Other loans 356,809 356,809

The previous owner of the property owned by the reporting entity holds the first legal charge over it.

Catalyst Bridging Ltd holds a second legal charge over the property.

10. RESERVES
Retained
earnings
£   

At 1 April 2023 209,839
Deficit for the period (48,060 )
At 30 September 2024 161,779

The split between non-distributable and distributable reserves are as follows:-

30.9.2431.3.23
£   £   

Distributable reserves-202,765-189,507
Non-distributable reserves364,544399,346

Total161,779209,839


11. RELATED PARTY DISCLOSURES

The reporting entity is a wholly owned subsidiary of Acroterion Ltd, a Company registered in England and Wales.

As at the balance sheet date the Company owed £267,123 (2023 - £281,565) to its parent Company.

During the year costs were incurred by Iain Exley Ltd on behalf of the reporting entity. The Companies are under common control. As at the balance sheet date the reporting entity was owed £37,525 (2023- £37,525) by Iain Exley Ltd.

As at the balance sheet date the Company owed £6,248 (2023 - £6,248) to Mr I Exley, a Company director. There are no terms attached to this loan.

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
74 MARINA PROPERTY LIMITED

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of 74 Marina Property Limited for the period ended 30 September 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at icaew.com/membershandbook.

This report is made solely to the director of 74 Marina Property Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of 74 Marina Property Limited and state those matters that we have agreed to state to the director of 74 Marina Property Limited in this report in accordance with icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than 74 Marina Property Limited and its director for our work or for this report.

It is your duty to ensure that 74 Marina Property Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of 74 Marina Property Limited. You consider that 74 Marina Property Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of 74 Marina Property Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Ashdown Hurrey
Chartered Accountants & Business Advisers
28 Wilton Road
Bexhill on Sea
East Sussex
TN40 1EZ


27 June 2025