IRIS Accounts Production v25.1.4.42 04182366 Board of Directors 1.4.24 31.3.25 31.3.25 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh041823662024-03-31041823662025-03-31041823662024-04-012025-03-31041823662023-03-31041823662023-04-012024-03-31041823662024-03-3104182366ns15:EnglandWales2024-04-012025-03-3104182366ns14:PoundSterling2024-04-012025-03-3104182366ns10:Director12024-04-012025-03-3104182366ns10:PrivateLimitedCompanyLtd2024-04-012025-03-3104182366ns10:SmallEntities2024-04-012025-03-3104182366ns10:AuditExempt-NoAccountantsReport2024-04-012025-03-3104182366ns10:SmallCompaniesRegimeForDirectorsReport2024-04-012025-03-3104182366ns10:SmallCompaniesRegimeForAccounts2024-04-012025-03-3104182366ns10:FullAccounts2024-04-012025-03-3104182366ns10:Director22024-04-012025-03-3104182366ns10:Director42024-04-012025-03-3104182366ns10:RegisteredOffice2024-04-012025-03-3104182366ns5:CurrentFinancialInstruments2025-03-3104182366ns5:CurrentFinancialInstruments2024-03-3104182366ns5:ShareCapital2025-03-3104182366ns5:ShareCapital2024-03-3104182366ns5:SharePremium2025-03-3104182366ns5:SharePremium2024-03-3104182366ns5:CapitalRedemptionReserve2025-03-3104182366ns5:CapitalRedemptionReserve2024-03-3104182366ns5:RetainedEarningsAccumulatedLosses2025-03-3104182366ns5:RetainedEarningsAccumulatedLosses2024-03-3104182366ns5:FurnitureFittings2024-04-012025-03-3104182366ns5:ComputerEquipment2024-04-012025-03-3104182366ns5:FurnitureFittings2024-03-3104182366ns5:ComputerEquipment2024-03-3104182366ns5:FurnitureFittings2025-03-3104182366ns5:ComputerEquipment2025-03-3104182366ns5:FurnitureFittings2024-03-3104182366ns5:ComputerEquipment2024-03-3104182366ns5:CostValuation2024-03-3104182366ns5:WithinOneYearns5:CurrentFinancialInstruments2025-03-3104182366ns5:WithinOneYearns5:CurrentFinancialInstruments2024-03-31
REGISTERED NUMBER: 04182366 (England and Wales)


























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

MARINA PROJECTS LIMITED

MARINA PROJECTS LIMITED (REGISTERED NUMBER: 04182366)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


MARINA PROJECTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2025







DIRECTORS: Mr M C Ward
Mr D R McKiernan
Mr S D Goodhead





REGISTERED OFFICE: Universal Marina
Crableck Lane
Sarisbury Green
Southampton
Hampshire
SO31 7ZN





REGISTERED NUMBER: 04182366 (England and Wales)






MARINA PROJECTS LIMITED (REGISTERED NUMBER: 04182366)

BALANCE SHEET
31 MARCH 2025

2025 2024
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 93,618 111,157
Investments 5 30,001 30,001
123,619 141,158

CURRENT ASSETS
Debtors 6 1,533,091 926,522
Cash at bank and in hand 489,386 851,348
2,022,477 1,777,870
CREDITORS
Amounts falling due within one year 7 918,736 585,989
NET CURRENT ASSETS 1,103,741 1,191,881
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,227,360

1,333,039

PROVISIONS FOR LIABILITIES 23,404 27,789
NET ASSETS 1,203,956 1,305,250

CAPITAL AND RESERVES
Called up share capital 8 38,450 46,500
Share premium 22,075 22,075
Capital redemption reserve 26,425 18,375
Retained earnings 1,117,006 1,218,300
1,203,956 1,305,250

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 July 2025 and were signed on its behalf by:




Mr M C Ward - Director


MARINA PROJECTS LIMITED (REGISTERED NUMBER: 04182366)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025


1. STATUTORY INFORMATION

Marina Projects 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.

Turnover
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% straight line
Computer equipment - 33% straight line

All fixed assets are initially recorded at cost.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

MARINA PROJECTS LIMITED (REGISTERED NUMBER: 04182366)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025


2. ACCOUNTING POLICIES - continued

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Operating lease agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2024 - 21 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2024 85,033 84,588 169,621
Additions 2,894 13,532 16,426
Disposals - (1,267 ) (1,267 )
At 31 March 2025 87,927 96,853 184,780
DEPRECIATION
At 1 April 2024 16,927 41,537 58,464
Charge for year 12,982 20,195 33,177
Eliminated on disposal - (479 ) (479 )
At 31 March 2025 29,909 61,253 91,162
NET BOOK VALUE
At 31 March 2025 58,018 35,600 93,618
At 31 March 2024 68,106 43,051 111,157

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 April 2024
and 31 March 2025 30,001
NET BOOK VALUE
At 31 March 2025 30,001
At 31 March 2024 30,001

The company holds interests in the following subsidiary trading companies:

Whitehaven Marina Limited - a company incorporated in England & Wales. Its principal activity is marina and harbour management. The company holds 100% of its ordinary share capital and voting rights.

James Watt Marina Limited - a company incorporated in England & Wales. Its principal activity is marina and harbour management. The company holds 60% of its ordinary share capital and voting rights.

The company's registered office is also that of both subsidiaries.

MARINA PROJECTS LIMITED (REGISTERED NUMBER: 04182366)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade debtors 1,344,122 857,085
Amounts owed by group undertakings - 3,000
Other debtors 188,969 66,437
1,533,091 926,522

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade creditors 617,498 33,787
Taxation and social security 218,831 404,704
Other creditors 82,407 147,498
918,736 585,989

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number Class Nominal Value 2025 2024
£ £
4,026 Ordinary A 1 4,026 12076
23,676 Ordinary B 1 23,676 23,676
6,824 Ordinary D 1 6,824 6,824
3,924 Ordinary E 1 3,924 3,924
38,450 46,500

On 13 April 2023 the company agreed to purchase the 23,676 Ordinary A shares in the company held by the director G Phillips who also retired on that date.

The total agreed purchase price was £1,325,000 and is split into three tranches, as follows:

13 April 2023 - 11,600 shares - £650,000
15 April 2024 - 8,050 shares - £450,000
14 April 2025 - 4,026 shares - £225,000

As part of the agreement, the rights of the Ordinary A shares were varied in April 2023 to remove any future voting rights, entitlements to participate in dividend payments and entitlements on any winding up of the company.