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REGISTERED NUMBER: 02715848 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

MARINA MARBELLA (U.K.) LIMITED

MARINA MARBELLA (U.K.) LIMITED (REGISTERED NUMBER: 02715848) |

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

Page |

| Company Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 3 |

| MARINA MARBELLA (U.K.) LIMITED |

COMPANY INFORMATION

FOR THE YEAR ENDED 31 DECEMBER 2025

| DIRECTOR: | J K Sundberg Dubarry

| SECRETARY: | Ms C Lucas

| REGISTERED OFFICE: | Appledram Barns

| Birdham Road

| Chichester

| West Sussex

| PO20 7EQ

| REGISTERED NUMBER: | 02715848 (England and Wales)

| AUDITORS: | Lewis Brownlee (Chichester) Limited

| Statutory Auditors

| Appledram Barns

| Birdham Road

| Chichester

| West Sussex

| PO20 7EQ

MARINA MARBELLA (U.K.) LIMITED (REGISTERED NUMBER: 02715848) |

BALANCE SHEET

31 DECEMBER 2025

2025 | 2024 |

| Notes | £ | £ | £ | £

FIXED ASSETS

Intangible assets | 4 | - |  | - |  |

Tangible assets | 5 | 7,990 |  | 12,147 |  |

7,990 |  | 12,147 |  |

CURRENT ASSETS

Stocks | 278,605 |  | 568,935 |  |

Debtors: amounts falling due within one year | 6 | 17,317 |  | 30,962 |  |

Debtors: amounts falling due after more than one year | 6 | 393,602 |  | 355,235 |  |

Cash at bank | 83,280 |  | 56,140 |  |

772,804 |  | 1,011,272 |  |

CREDITORS

Amounts falling due within one year | 7 | 1,136,400 |  | 1,263,556 |  |

NET CURRENT LIABILITIES | (363,596 | ) | (252,284 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | (355,606 | ) | (240,137 | ) |

CAPITAL AND RESERVES

Called up share capital | 100,000 |  | 100,000 |  |

Profit and loss account | (455,606 | ) | (340,137 | ) |

SHAREHOLDERS' FUNDS | (355,606 | ) | (240,137 | ) |

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 director and authorised for issue on 30 March 2026 and were signed by:

J K Sundberg Dubarry - Director

MARINA MARBELLA (U.K.) LIMITED (REGISTERED NUMBER: 02715848) |

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

1. | STATUTORY INFORMATION

| Marina Marbella (U.K.) Limited (company number: 02715848) is a private company limited by shares and incorporated in England and Wales. Its registered office is Appledram Barns, Birdham Road, Chichester, West Sussex, England, PO20 7EQ.

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.

| The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

| Going concern

| The company relies on the support of its parent company and other companies within the group in managing its working capital requirements and has substantial creditor balances totalling £1.096m (2024: £1.188m) from certain companies within the group at the balance sheet date.

| The director has received written confirmation from the relevant group companies that repayment of these loans will not be required for at least twelve months from the date of approval of these financial statements unless the company has sufficient resources to make the repayments and to meet its other obligations when they fall due, and that further financial support will be provided if necessary.

| On this basis, the director considers it appropriate to prepare the financial statements 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.

| Turnover

| Turnover represents sales of boats, parts and related services supplied during the year, net of value added tax. Boat sales are recognised at the point of delivery.

| Goodwill

| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. Intangible assets have been fully amortised at the year end.

| Tangible fixed assets

| Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

| Plant and machinery |  | - |  | 25% on cost |  |

| Fixtures and fittings |  | - |  | 25% on cost |  |

| Motor vehicles |  | - |  | 25% on cost |  |

| Computer equipment |  | - |  | 25% on cost |  |

| Stocks

| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

MARINA MARBELLA (U.K.) LIMITED (REGISTERED NUMBER: 02715848) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

2. | ACCOUNTING POLICIES - continued

| Financial instruments

| Financial instruments are classified by the director as basic or advanced following the conditions in FRS 102 section 11. Basic financial instruments are recognised at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost. The company has no advanced financial instruments.

| 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.

| 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.

| 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.

| Employee benefits

| The costs of short-term employee benefits are recognised as a liability and an expense.

| Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 4 (2024 - 4 ) .

MARINA MARBELLA (U.K.) LIMITED (REGISTERED NUMBER: 02715848) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

4. | INTANGIBLE FIXED ASSETS

Goodwill |

| £

| COST

| At 1 January 2025

| and 31 December 2025 | 653,867 |  |

| AMORTISATION

| At 1 January 2025

| and 31 December 2025 | 653,867 |  |

| NET BOOK VALUE

| At 31 December 2025 | - |  |

| At 31 December 2024 | - |  |

5. | TANGIBLE FIXED ASSETS

Fixtures |  |

Plant and | and | Motor | Computer |  |

machinery | fittings | vehicles | equipment | Totals |

| £ | £ | £ | £ | £

| COST

| At 1 January 2025 |

| and 31 December 2025 | 5,200 |  | 7,819 |  | 15,163 |  | 4,293 |  | 32,475 |  |

| DEPRECIATION

| At 1 January 2025 | 5,200 |  | 7,437 |  | 4,739 |  | 2,952 |  | 20,328 |  |

| Charge for year | - |  | 148 |  | 3,790 |  | 219 |  | 4,157 |  |

| At 31 December 2025 | 5,200 |  | 7,585 |  | 8,529 |  | 3,171 |  | 24,485 |  |

| NET BOOK VALUE

| At 31 December 2025 | - |  | 234 |  | 6,634 |  | 1,122 |  | 7,990 |  |

| At 31 December 2024 | - |  | 382 |  | 10,424 |  | 1,341 |  | 12,147 |  |

6. | DEBTORS

2025 | 2024 |

| £ | £

| Amounts falling due within one year:

| Trade debtors | 5,605 |  | 6,077 |  |

| Other debtors | 11,712 |  | 24,885 |  |

17,317 |  | 30,962 |  |

| Amounts falling due after more than one year:

| Other debtors | 393,602 |  | 355,235 |  |

| Aggregate amounts | 410,919 |  | 386,197 |  |

MARINA MARBELLA (U.K.) LIMITED (REGISTERED NUMBER: 02715848) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

| £ | £

| Trade creditors | 6,364 |  | 7,191 |  |

| Amounts owed to group undertakings | 1,095,557 |  | 1,187,664 |  |

| Taxation and social security | 162 |  | 31,390 |  |

| Other creditors | 34,317 |  | 37,311 |  |

1,136,400 |  | 1,263,556 |  |

8. | LEASING AGREEMENTS

| At 31 December 2025, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £17,086 (2024: £nil).

9. | SECURED DEBTS

| Banking facilities are secured by a fixed and floating charge over all of the company's assets.

| The company's ultimate parent company, Marina Group Holdings Limited, has given a cross-guarantee of £2m to the company's bankers.

10. | DEFERRED TAX

| £

| Balance at 1 January 2025 | (356,172 | ) |

| Credit to Statement of Income and Retained Earnings during year | (38,490 | ) |

| Balance at 31 December 2025 | (394,662 | ) |

| The deferred tax asset represents tax losses carried forward, which is included in other debtors.

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

| The Report of the Auditors was unqualified.

| Sam Ede BFP FCA FCCA (Senior Statutory Auditor)

| for and on behalf of Lewis Brownlee (Chichester) Limited

12. | CONTROLLING PARTY

| The company's immediate parent undertaking is Marina Marbella S.A., a company incorporated in Spain. The smallest group in which the results of the company are consolidated is that headed by Marina Marbella S.A.. The consolidated accounts of this company are not on public record but may be obtained by written request to Marina Marbella S.A., Puerto Puesquero s/n, 29603 Marbella, Malaga, Spain.

| The largest group in which the results of the company are consolidated is that headed by Marina Group Holdings Limited, incorporated in Guernsey. The consolidated accounts of this company are not on public record but may be obtained by written request to PO Box 175, Frances House, Sir William Place, St Peter Port, Guernsey, Channel Islands GY1 4HQ.