REGISTERED NUMBER: 12492318 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH JUNE 2025

FOR

MARINE CONCEPTS HOLDINGS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P J Hill

T G Stubington

REGISTERED OFFICE:

Venture House

The Tanneries

East Street

Titchfield

Hampshire

PO14 4AR

REGISTERED NUMBER:

12492318 (England and Wales)

ACCOUNTANTS:

Compass Accountants Limited

Chartered Accountants

Venture House

The Tanneries

East Street

Titchfield

Hampshire

PO14 4AR

FIXED ASSETS

Tangible assets

4

6,795,692

6,729,372

Investments

5

350

350

6,796,042

6,729,722

CURRENT ASSETS

Debtors

6

168,986

81,307

Cash at bank

6,554

1,557

175,540

82,864

CREDITORS

Amounts falling due within one year

7

1,467,635

2,301,613

NET CURRENT LIABILITIES

(1,292,095

)

(2,218,749

)

TOTAL ASSETS LESS CURRENT LIABILITIES

5,503,947

4,510,973

CREDITORS

Amounts falling due after more than one year

8

(3,016,255

)

(2,655,000

)

PROVISIONS FOR LIABILITIES

(609,130

)

(541,161

)

NET ASSETS

1,878,562

1,314,812

CAPITAL AND RESERVES

Called up share capital

10

350

350

Retained earnings

1,878,212

1,314,462

SHAREHOLDERS' FUNDS

1,878,562

1,314,812

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12th January 2026 and were signed on its behalf by:

T G Stubington - Director

1.	STATUTORY INFORMATION

Marine Concepts Holdings 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33.3% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Basic financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, where there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

The company's financial assets and liabilities consist of cash and cash equivalents, short term investments, trade and other debtors, trade and other creditor, and accrued expenses. The fair value of these items approximates their carrying value due to their short term value. Unless otherwise noted, the company is not exposed to significant interest, foreign exchange or credit risks arising from these instruments.

Revaluation reserve

Surpluses and deficits, to the extent that any deficit is regarded as temporary, arising from the valuations of properties are taken direct to the revaluation reserve. Where a permanent diminution in the value of an individual property is identified, the deficit is eliminated first against any revaluation reserve in respect of that property with any excess being charged to the profit and loss account. Valuation surpluses or deficits on sale are transferred from the revaluation reserve to the profit and loss account.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

property

machinery

fittings

£

£

£

COST OR VALUATION

At 1st July 2024

6,401,992

495,724

4,191

Additions

87,721

8,570

12,892

Disposals

(568,406

)

(1,448

)

-

Revaluations

577,754

-

-

At 30th June 2025

6,499,061

502,846

17,083

DEPRECIATION

At 1st July 2024

-

173,527

823

Charge for year

-

48,836

2,439

At 30th June 2025

-

222,363

3,262

NET BOOK VALUE

At 30th June 2025

6,499,061

280,483

13,821

At 30th June 2024

6,401,992

322,197

3,368

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST OR VALUATION

At 1st July 2024

4,849

14,130

6,920,886

Additions

-

1,553

110,736

Disposals

-

-

(569,854

)

Revaluations

-

-

577,754

At 30th June 2025

4,849

15,683

7,039,522

DEPRECIATION

At 1st July 2024

3,314

13,850

191,514

Charge for year

384

657

52,316

At 30th June 2025

3,698

14,507

243,830

NET BOOK VALUE

At 30th June 2025

1,151

1,176

6,795,692

At 30th June 2024

1,535

280

6,729,372

Cost or valuation at 30th June 2025 is represented by:

Fixtures

Freehold

Plant and

and

property

machinery

fittings

£

£

£

Valuation in 2024

1,837,263

-

-

Valuation in 2025

97,069

-

-

Cost

4,564,729

502,846

17,083

6,499,061

502,846

17,083

Motor

Computer

vehicles

equipment

Totals

£

£

£

Valuation in 2024

-

-

1,837,263

Valuation in 2025

-

-

97,069

Cost

4,849

15,683

5,105,190

4,849

15,683

7,039,522

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1st July 2024

and 30th June 2025

350

NET BOOK VALUE

At 30th June 2025

350

At 30th June 2024

350

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

168,986

-

Other debtors

-

81,307

168,986

81,307

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

41,872

429,013

Trade creditors

35,059

443,401

Amounts owed to group undertakings

1,378,700

1,199,645

Taxation and social security

8,838

-

Other creditors

3,166

229,554

1,467,635

2,301,613

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

3,016,255

2,655,000

9.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Debentures

3,058,127

3,043,995

HSBC UK Bank PLC holds a legal mortgage over the freehold property known as Overlord Building, HMS Deadalus, Daedalus Drive, Lee On Solent, Portsmouth, Hampshire. Contains negative pledge.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

142

Ordinary

£1

142

142

71

Ordinary A

£1

71

71

50

Ordinary B

£1

50

50

71

Ordinary C

£1

71

71

8

Ordinary D

£1

8

8

8

Ordinary E

£1

8

8

350

350