Company Registration No. NI612779 (Northern Ireland)
MARINE HOTEL (BALLYCASTLE) LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
PAGES FOR FILING WITH REGISTRAR
MARINE HOTEL (BALLYCASTLE) LTD
COMPANY INFORMATION
Directors
Mr C McLornan
Mrs C Hunter
Company number
NI612779
Registered office
1-3 North Street
Ballycastle
County Antrim
BT54 6BN
Accountants
HM Chartered Accountants
6th Floor East Tower
Lanyon Plaza
8 Lanyon Place
Belfast
Co. Antrim
BT1 3LP
Business address
1-3 North Street
Ballycastle
County Antrim
BT54 6BN
MARINE HOTEL (BALLYCASTLE) LTD
CONTENTS
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 10
MARINE HOTEL (BALLYCASTLE) LTD
STATEMENT OF FINANCIAL POSITION
AS AT
31 OCTOBER 2025
31 October 2025
- 1 -
2025
2024
as restated
Notes
£
£
£
£
Fixed assets
Intangible assets
3
5,796
5,269
Tangible assets
4
3,216,221
3,399,099
3,222,017
3,404,368
Current assets
Stocks
38,366
38,047
Debtors
5
84,118
110,554
Cash at bank and in hand
478,888
245,375
601,372
393,976
Creditors: amounts falling due within one year
6
(822,794)
(664,509)
Net current liabilities
(221,422)
(270,533)
Total assets less current liabilities
3,000,595
3,133,835
Creditors: amounts falling due after more than one year
7
(375,450)
(501,616)
Provisions for liabilities
(510,254)
(522,885)
Net assets
2,114,891
2,109,334
Capital and reserves
Called up share capital
9
50,000
50,000
Revaluation reserve
10
1,551,699
1,654,351
Profit and loss reserves
513,192
404,983
Total equity
2,114,891
2,109,334
MARINE HOTEL (BALLYCASTLE) LTD
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT
31 OCTOBER 2025
31 October 2025
- 2 -

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

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The directors of the company have elected not to include a copy of the income statement within the financial statements. true

The financial statements were approved by the board of directors and authorised for issue on 14 April 2026 and are signed on its behalf by:
Mr C McLornan
Director
Company registration number NI612779 (Northern Ireland)
MARINE HOTEL (BALLYCASTLE) LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
- 3 -
1
Accounting policies
Company information

Marine Hotel (Ballycastle) Ltd is a private company limited by shares incorporated in Northern Ireland. The registered office is 1-3 North Street, Ballycastle, County Antrim, BT54 6BN.

1.1
Basis of preparation

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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 £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Going concern

A true t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.

When cash inflows are deferred and represent a financing arrangement, the promised consideration is adjusted for the effects of the time value of money, which is recognised as interest income.

The nature, timing of satisfaction of performance obligations and significant payment terms of the company's major sources of revenue are as follows:

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recover able.

MARINE HOTEL (BALLYCASTLE) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
1
Accounting policies
(Continued)
- 4 -
1.4
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Licenses
Over 5 years
1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Buildings freehold
2% to 10% on cost
Plant and machinery
20% on cost
Fixtures, fittings & equipment
20% to 33% on cost
Computer equipment
33% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

MARINE HOTEL (BALLYCASTLE) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
1
Accounting policies
(Continued)
- 5 -
1.7
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.8
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9
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 in the company's statement of financial position 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, when 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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

MARINE HOTEL (BALLYCASTLE) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
1
Accounting policies
(Continued)
- 6 -
1.10
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.11
Taxation

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

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date 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. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.12
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

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.

1.13
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.14
Leases
As lessee

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the statement of financial position as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

MARINE HOTEL (BALLYCASTLE) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
1
Accounting policies
(Continued)
- 7 -
1.15
Government grants

Government grants are recognised at the fair value of the asset receive d or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

1.16
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
78
78
3
Intangible fixed assets
Other
£
Cost
At 1 November 2024
9,324
Additions
2,000
At 31 October 2025
11,324
Amortisation and impairment
At 1 November 2024
4,055
Amortisation charged for the year
1,473
At 31 October 2025
5,528
Carrying amount
At 31 October 2025
5,796
At 31 October 2024
5,269
MARINE HOTEL (BALLYCASTLE) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
- 8 -
4
Tangible fixed assets
Buildings freehold
Plant and machinery
Fixtures, fittings & equipment
Computer equipment
Total
£
£
£
£
£
Cost or valuation
At 1 November 2024
3,552,047
89,483
677,992
56,872
4,376,394
Additions
21,588
-
0
48,580
7,996
78,164
At 31 October 2025
3,573,635
89,483
726,572
64,868
4,454,558
Depreciation and impairment
At 1 November 2024
268,936
88,939
571,721
47,699
977,295
Depreciation charged in the year
182,363
544
71,434
6,701
261,042
At 31 October 2025
451,299
89,483
643,155
54,400
1,238,337
Carrying amount
At 31 October 2025
3,122,336
-
0
83,417
10,468
3,216,221
At 31 October 2024
3,283,111
544
106,271
9,173
3,399,099

Land and buildings were revalued to £1,170,000 during the year ending 31 May 2017 by TDK Commercial Property Consultants who are independent valuers and are not connected with the company. The valuation conformed to International Valuation Standards and was based on recent market transactions on arm's length terms for similar properties.

A further valuation was carried out in October 2023 and showed the market value to be £3,500,000.

The revaluation surplus is disclosed in note 10.

If revalued assets were stated on a historical cost basis rather than a fair value basis, the total amounts included would have been as follows:

5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
20,305
6,533
Other debtors
63,813
104,021
84,118
110,554
MARINE HOTEL (BALLYCASTLE) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
- 9 -
6
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
267,973
85,967
Trade creditors
212,162
177,981
Corporation tax
71,207
43,903
Other taxation and social security
202,375
299,071
Other creditors
69,077
57,587
822,794
664,509
7
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
174,067
251,396
Other creditors
201,383
250,220
375,450
501,616
8
Government grants
2025
2024
£
£
Arising from government grants
76,870
90,707
Included in the financial statements as follows:
Current liabilities
13,837
13,837
Non-current liabilities
63,033
76,870
76,870
90,707
9
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares class A of £1 each
25,000
25,000
25,000
25,000
Ordinary shares class B of £1 each
25,000
25,000
25,000
25,000
50,000
50,000
50,000
50,000

Equal voting rights other than for the appointment or removal of directors, equal rights to dividends and distributions. The holders of A Ordinary shares may appoint or remove one A director subject to the approval of that person by the B shareholders and the holders of B Ordinary shares shall appoint and remove one B director subject to the approval of that person by the A shareholders.

MARINE HOTEL (BALLYCASTLE) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
- 10 -
10
Revaluation reserve
2025
2024
£
£
At the beginning of the year
1,654,351
1,752,348
Transfer to retained earnings
(102,652)
(97,997)
At the end of the year
1,551,699
1,654,351

The property was revalued from a historic cost at 31 May 2017 and had since been revalued again on 31 October 2023 as detailed in note 4. There is a deferred tax provision required on the revalued property and excess depreciation on the revaluation over depreciation based on historic cost has been transferred from the revaluation reserve to the profit and loss reserve. This results in a revaluation reserve of £1,551,699 (2024: £1,654,351).

11
Exceptional event

During the year ended 31 October 2024 there were leaks in the ground floor of the hotel which lead to the closure of the entire hotel at the start of December 2023 for 14 weeks. With a significant loss of revenue. During this period staff were still paid, as the directors needed to maintain a team ready to re-open once the repair work was carried out.

12
Prior period adjustment
Reconciliation of changes in equity
1 November
31 October
2023
2024
£
£
Adjustments to prior year
Correction of deposits
-
53,664
Equity as previously reported
2,173,739
2,055,670
Equity as adjusted
2,173,739
2,109,334
Analysis of the effect upon equity
Profit and loss reserves
-
53,664
Reconciliation of changes in loss for the previous financial period
2024
£
Adjustments to prior year
Correction of deposits
53,664
Loss as previously reported
(118,069)
Loss as adjusted
(64,405)
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