Registration number: 07188583

Marine Buildings Limited

(Registration number: 07188583)
Statement of Financial Position as at 30 April 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	287	448
Investment property	5	2,467,500	2,467,500
		2,467,787	2,467,948
Current assets
Debtors	6	39,735	7,036
Cash at bank and in hand		41,122	59,005
		80,857	66,041
Creditors: Amounts falling due within one year	7	(380,727)	(398,962)
Net current liabilities		(299,870)	(332,921)
Total assets less current liabilities		2,167,917	2,135,027
Creditors: Amounts falling due after more than one year	7	(505,539)	(536,099)
Provisions for liabilities		(198,998)	(151,238)
Net assets		1,463,380	1,447,690
Capital and reserves
Called up share capital		16	16
Revaluation reserve		844,589	844,589
Retained earnings		618,775	603,085
Shareholders' funds		1,463,380	1,447,690

Marine Buildings Limited

(Registration number: 07188583)
Statement of Financial Position as at 30 April 2025

For the financial year ending 30 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

Marine Buildings Limited

(Registration number: 07188583)
Statement of Financial Position as at 30 April 2025

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the Board on 19 November 2025 and signed on its behalf by:
 

......................................... Mr John Scott Barnes Director

......................................... Mr Austin James Scott Barnes Director

Marine Buildings Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

1	General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Marine House
Norman Terrace
Willington Quay
Wallsend
Tyne And Wear
NE28 6SU

These financial statements were authorised for issue by the Board on 19 November 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Marine Buildings Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Marine Buildings Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2024 - 0).

4	Tangible assets

	Fixtures and fittings £	Office equipment £	Total £
Cost or valuation
At 1 May 2024	2,323	5,970	8,293
At 30 April 2025	2,323	5,970	8,293
Depreciation
At 1 May 2024	1,875	5,970	7,845
Charge for the year	161	-	161
At 30 April 2025	2,036	5,970	8,006
Carrying amount
At 30 April 2025	287	-	287
At 30 April 2024	448	-	448

5	Investment properties

	2025 £
At 1 May	2,467,500
At 30 April	2,467,500

There has been no valuation of investment property by an independent valuer.

6

Debtors

Current	2025 £	2024 £
Trade debtors	37,486	1
Prepayments	2,249	594
Other debtors	-	6,441
	39,735	7,036

Marine Buildings Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

7

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	9	37,829	45,098
Trade creditors		91	59,191
Taxation and social security		39,554	20,610
Accruals and deferred income		1,550	1,475
Other creditors		301,703	272,588
		380,727	398,962

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings	9	505,539	536,099

8

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the prior year were as follows:

	Revaluation reserve £	Total £
Surplus/deficit on revaluation of other assets	844,589	844,589

9	Loans and borrowings

Non-current loans and borrowings

	2025 £	2024 £
Bank borrowings	505,539	536,099

Current loans and borrowings

	2025 £	2024 £
Bank borrowings	37,829	45,098