REGISTERED NUMBER: 05523647 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

MARNIC PROPERTY LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mrs M K Wren

N C Williams

REGISTERED OFFICE:

5 Newton Close

Drayton Fields Industrial Estate

Daventry

Northamptonshire

NN11 8RR

REGISTERED NUMBER:

05523647 (England and Wales)

SENIOR STATUTORY AUDITOR:

Mark Ashfield BA FCA

AUDITORS:

HB&O Ltd

Chartered Accountants and Statutory Auditor

Highdown House

11 Highdown Road

Leamington Spa

Warwickshire

CV31 1XT

BANKERS:

National Westminster Bank plc

519 Foleshill Road

Coventry

CV3 5ZZ

FIXED ASSETS

Tangible assets

4

-

37,959

Investments

5

-

1,119,172

Investment property

6

746,521

746,521

746,521

1,903,652

CURRENT ASSETS

Debtors

15,391

5,706

Cash at bank

52,310

45,560

67,701

51,266

CREDITORS

Amounts falling due within one year

132,940

1,292,774

NET CURRENT LIABILITIES

(65,239

)

(1,241,508

)

TOTAL ASSETS LESS CURRENT LIABILITIES

681,282

662,144

PROVISIONS FOR LIABILITIES

7

45,628

45,628

NET ASSETS

635,654

616,516

CAPITAL AND RESERVES

Called up share capital

8

250,000

250,000

Capital redemption reserve

132,000

132,000

Fair value reserve

213,128

213,128

Retained earnings

40,526

21,388

SHAREHOLDERS' FUNDS

635,654

616,516

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2025 in accordance with Section 444(2A) of the Companies Act 2006.

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 22 December 2025 and were signed on its behalf by:

N C Williams - Director

Mrs M K Wren - Director

1.	STATUTORY INFORMATION

Marnic 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 principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year.

At the balance sheet date the company had net current liabilities of £65,239 (2024 - £1,241,508) and total net assets of £635,654 (2024 - net assets of £616,516). The directors consider that they and the wider group/related entities will continue to support the company for at least the next 12 months so that it can continue to pay its debts as they fall due. The financial statements have therefore been prepared on the going concern basis.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures & fittings

-

25% on cost

Motor vehicles

-

25% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at 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.

Investment property valuations are informed by latest market data such as rental yields and recent sales for similar types of property in the local area.

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.

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.

Financial instruments

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, financial instruments are measured at amortised cost using the effective interest rate method, less impairment.

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2024 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2024

51,043

Additions

710

Reclassification/transfer

(51,753

)

At 31 March 2025

-

DEPRECIATION

At 1 April 2024

13,084

Charge for year

6,207

Reclassification/transfer

(19,291

)

At 31 March 2025

-

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

37,959

5.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

COST

At 1 April 2024

1,119,172

Disposals

(1,119,172

)

At 31 March 2025

-

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

1,119,172

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

and 31 March 2025

746,521

NET BOOK VALUE

At 31 March 2025

746,521

At 31 March 2024

746,521

In the opinion of the directors, the value of investment properties on an open market basis for existing use was not significantly different from the valuation currently shown.

Fair value at 31 March 2025 is represented by:

£

Valuation in 2022

258,756

Cost

487,765

746,521

7.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

Accelerated capital allowances

45,628

45,628

Deferred

tax

£

Balance at 1 April 2024

45,628

Revaluation of fixed assets

Balance at 31 March 2025

45,628

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

250,000

Ordinary

£1

250,000

250,000

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mark Ashfield BA FCA (Senior Statutory Auditor)

for and on behalf of HB&O Ltd

10.	PENSION COMMITMENTS

The company operates a defined contribution pension scheme in respect of certain employees. The scheme and its assets are held by independent managers. The pension charge represents contributions due from the company and amounted to £43,437 (2024 - £53,911). Included within creditors is an amount due to scheme providers totalling £nil (2024 - £1,184).

11.	CONTINGENT LIABILITIES

The company has cross-group and related entity guarantees in place with Clean Air Technology Limited, Clean Air Installations Limited and Clean Air Facilities Limited in respect of the group and related entity bank indebtedness.

National Westminster Bank Plc holds a debenture dated 31 March 2006 relating to a legal charge over the assets of the company and a further charge dated 19 December 2012 over the company's investment property,

12.	CONTROLLING INTERESTS

The directors are considered to be the ultimate controlling parties by virtue of their ability to act in concert in respect of the financial and operating policies of the company.