Marlyn Properties Limited - Filleted accounts

Registered number

03652200

Marlyn Properties Limited

Filleted Accounts for the year ended

31 August 2025

Marlyn Properties Limited
Registered number:		03652200
Balance Sheet
as at 31 August 2025

Notes			2025			2024
£				£
Current assets
Stocks		3,119,957			2,540,740
Debtors	3	599,398			636,645
Cash at bank and in hand		80			14,621
		3,719,435			3,192,006

Creditors: amounts falling due within one year	4	(2,772,479)			(2,243,497)

Net current assets			946,956			948,509

Total assets less current liabilities			946,956			948,509

Creditors: amounts falling due after more than one year	5		(955,000)			(955,000)



Net liabilities			(8,044)			(6,491)

Capital and reserves
Called up share capital			200			200
Profit and loss account			(8,244)			(6,691)

Shareholders' funds			(8,044)			(6,491)

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




A Alexandrou
Director
Approved by the board on 15 May 2026

Marlyn Properties Limited
Notes to the Accounts
for the year ended 31 August 2025


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.


2	Employees	2025		2024
Number			Number

	Average number of persons employed by the company	1		1


3	Debtors	2025		2024
£			£

	Amounts owed by associated companies	585,398		608,998
	Other debtors	14,000		27,647
		599,398		636,645


4	Creditors: amounts falling due within one year	2025		2024
£			£

	Trade creditors	26,231		43,963
	Amounts owed to associated companies	2,744,698		2,197,984
	Other creditors	1,550		1,550
		2,772,479		2,243,497


5	Creditors: amounts falling due after one year	2025		2024
£			£

	Bank loans	955,000		955,000


6	Loans	2025		2024
£			£
	Creditors include:

	Secured bank loans	955,000		955,000

	The bank loan is secured by way of: - Debenture by way of fixed and floating charge over all the assets of the company. - A first ranking legal charge in respect of its property development stock known as Corner Farm Bungalow and Corner Farm. - A Guarantee from Southern Territory (UK) Limited for £955,000. - A Guarantee from PAS2 Investments Limited for £955,000. - A Guarantee from A Alexandrou, G Leonidas, M Pastou and P Pastou for £955,000.


7	Related party transactions

	Included in debtors are: £Nil (2024 - £14,000) loaned to Atlantic (Hertford) Limited £585,398 (2024 - £594,498) loaned to Atlantic Developments (Cudworth) Limited. These are companies in which the directors A Alexandrou and G Leonidas are connected with. £Nil (2024 - £500) loaned to STUK05 Ltd This is a company in which the director A Alexandrou is connected with. Included in creditors, falling due within one year are: £1,829,022 (2024 - £127,926) owed to Southern Territory Limited £Nil (2024 - £625,007) owed to Atlantic Lodge (Housing) Limited £Nil (2024 - £576,701) owed to Friday Hill House Limited £51,900 (2024 - £16,000) owed to Icospec Limited £121,000 (2024 - £115,000) owed to GK Phoenix Limited £5,500 (2024 - £Nil) owed to Atlantic (Hertford) Limkted These are companies in which the directors A Alexandrou and G Leonidas are connected with. £402,627 (2024 - £417,000) owed to Southern Territory (UK) Limited £14,300 (2024 - £Nil) owed to STUK05 Ltd £37,000 (2024 - £37,000) owed to STUK10 Ltd Thse are companies in which the director A Alexandrou is connected with. £283,350 (2024 - £283,350) owed to PAS2 Investments Limited This is a company which holds 100% of the A Ordinary shares in Marlyn Properties Limited. All loans are made on an interest free basis with no set repayment date.


8	Controlling party

	There is no ultimate controlling party. Southern Territory (UK) Ltd hold 100% of the B Ordinary shares in the company. This is a company is which the A Alexandrou is also a director and 90% shareholder. This entitles the company to 50% of the ownership and voting rights.


9	Other information

	Marlyn Properties Limited is a private company limited by shares and incorporated in England. Its registered office is:
	Atlantic Business Centre
	1 The Green
	London
	E4 7ES