Marinola Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: NI687602

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		30,000		33,750
Tangible Assets	5		72,330		82,524

			102,330		116,274
CURRENT ASSETS
Stocks	6	51,300		52,500
Debtors	7	1,346		10,787
Cash at bank and in hand		116,906		76,329

		169,552		139,616
Creditors: Amounts Falling Due Within One Year	8	(259,487 )		(248,843 )

NET CURRENT ASSETS (LIABILITIES)			(89,935 )		(109,227 )

TOTAL ASSETS LESS CURRENT LIABILITIES			12,395		7,047

Creditors: Amounts Falling Due After More Than One Year	9		(3,353 )		(12,585 )

NET ASSETS/(LIABILITIES)			9,042		(5,538 )

CAPITAL AND RESERVES
Called up share capital	10		4		4
Profit and Loss Account			9,038		(5,542 )

SHAREHOLDERS' FUNDS			9,042		(5,538)

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Marinola Limited

Balance Sheet (continued)

As At 31 March 2025

For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr B Farthing Director	Mrs H Mackay Director
19/12/2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Marinola Limited is a private company, limited by shares, incorporated in Northern Ireland, registered number NI687602 . The registered office is 30 Clooney Terrace, Londonderry, BT47 6AR.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

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.

2.3. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to the profit and loss account over its estimated economic life of .... years.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Leasehold	0%
Motor Vehicles	25% reducing balance
Fixtures & Fittings	15% reducing balance

2.5. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.6. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

...CONTINUED

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Marinola Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

2.6. Taxation - continued

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 5 (2024: 5)

4. Intangible Assets

	Goodwill
	£
Cost
As at 1 April 2024	37,500

As at 31 March 2025	37,500

Amortisation
As at 1 April 2024	3,750
Provided during the period	3,750

As at 31 March 2025	7,500

Net Book Value
As at 31 March 2025	30,000

As at 1 April 2024	33,750

5. Tangible Assets

	Land & Buildings	Plant & Machinery etc.	Total
	£	£	£
Cost
As at 1 April 2024	31,469	64,042	95,511

As at 31 March 2025	31,469	64,042	95,511

Depreciation
As at 1 April 2024	-	12,987	12,987
Provided during the period	-	10,194	10,194

As at 31 March 2025	-	23,181	23,181

Net Book Value
As at 31 March 2025	31,469	40,861	72,330

As at 1 April 2024	31,469	51,055	82,524

6. Stocks

	2025	2024
	£	£
Stock	51,300	52,500

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Marinola Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

7. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	678	7,027
Other debtors	668	3,760

	1,346	10,787

8. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	16,207	18,750
Bank loans and overdrafts	10,648	10,648
Other creditors	208,988	200,194
Taxation and social security	23,644	19,251

	259,487	248,843

9. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Bank loans	3,353	12,585

10. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	4	4

11. Post Balance Sheet Events

There have been no significant events affecting the company since the year end.

12. Related Party Transactions

B Farthing, S Farhting, H Mackay and S Mackay are regarded as related parties as defined by Financial Reporting Standard 8 “Related Party Disclosures” by virtue of being directors of Marinola Limited during the year. Included within ‘Other creditors’ is £184,918 (2024: £178,880) owing to the directors of the company.

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