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COMPANY REGISTRATION NUMBER: 10615016

Marin Developments Limited

Filleted Unaudited Financial Statements

30 September 2025

Marin Developments Limited

Balance Sheet

30 September 2025

| 2025 | 2024
Note | £ | £ | £ | £

Fixed assets

Tangible assets | 5 |  | 648,417 |  | 541,857

Current assets

Debtors | 6 | 8,589 |  | 6,515 |
Cash at bank and in hand | 13,017 |  | 11,085 |
| -------- |  | -------- |
| 21,606 |  | 17,600 |

Creditors: amounts falling due within one year | 7 | ( 358,747) |  | ( 256,741) |
| --------- |  | --------- |
Net current liabilities |  | ( 337,141) |  | ( 239,141)
|  | --------- |  | ---------
Total assets less current liabilities |  | 311,276 |  | 302,716

Creditors: amounts falling due after more than one year | 8 |  | ( 21,058) |  | ( 38,239)

Provisions |  | ( 44,484) |  | ( 44,452)
|  | --------- |  | ---------
Net assets |  | 245,734 |  | 220,025
|  | --------- |  | ---------

Capital and reserves

Called up share capital |  | 2 |  | 2
Fair value reserve |  | 132,650 |  | 132,650
Profit and loss account |  | 113,082 |  | 87,373
|  | --------- |  | ---------
Shareholders funds |  | 245,734 |  | 220,025
|  | --------- |  | ---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
For the year ending 30 September 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The 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 Act with respect to accounting records and the preparation of financial statements .

Marin Developments Limited

Balance Sheet (continued)

30 September 2025
These financial statements were approved by the board of directors and authorised for issue on 13 May 2026 , and are signed on behalf of the board by:

Mr J D Barnett
Director

Company registration number: 10615016

Marin Developments Limited

Notes to the Financial Statements

Year ended 30 September 2025
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Sunwood Farm, Cockin Lane, Clayton, Bradford, BD14 6PY.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received and represents rental income recognised on a monthly basis in accordance with the rental agreements in place, stated net of discounts and of Value Added Tax.
Corporation tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

| Fixtures and fittings | - | 20% straight line

Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit and loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the balance sheet and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities, or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2024: 2 ).
5. Tangible assets

| Freehold property | Fixtures and fittings | Total
| £ | £ | £
Cost |  |  |
At 1 October 2024 | 540,000 | 4,676 | 544,676
Additions | 106,433 | 1,122 | 107,555
| --------- | ------- | ---------
At 30 September 2025 | 646,433 | 5,798 | 652,231
| --------- | ------- | ---------
Depreciation |  |  |
At 1 October 2024 | – | 2,819 | 2,819
Charge for the year | – | 995 | 995
| --------- | ------- | ---------
At 30 September 2025 | – | 3,814 | 3,814
| --------- | ------- | ---------
Carrying amount |  |  |
At 30 September 2025 | 646,433 | 1,984 | 648,417
| --------- | ------- | ---------
At 30 September 2024 | 540,000 | 1,857 | 541,857
| --------- | ------- | ---------

The company's freehold investment properties are stated at an amount comprising the initial purchase cost and improvement expenditure subsequently incurred, unless the directors believe this amount differs from the fair value. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit and loss. The fair value reserve is non-distributable and represents the revaluation gains of the company's investment properties after deduction of deferred taxation on the uplift.
6. Debtors

| 2025 | 2024
| £ | £
Trade debtors | 5,566 | 5,614
Other debtors | 3,023 | 901
| ------- | -------
| 8,589 | 6,515
| ------- | -------

7. Creditors: amounts falling due within one year

| 2025 | 2024
| £ | £
Bank loans and overdrafts | 16,683 | 15,060
Trade creditors | 2,147 | 1,092
Social security and other taxes | 6,684 | 5,507
Other creditors | 333,233 | 235,082
| --------- | ---------
| 358,747 | 256,741
| --------- | ---------

Included in other creditors is a loan of £227,356 (2024 - £227,356) from a company under common control. At the balance sheet date this loan was unsecured and interest free.
8. Creditors: amounts falling due after more than one year

| 2025 | 2024
| £ | £
Bank loans and overdrafts | 21,058 | 38,239
| -------- | --------

The bank loan is secured in favour of HSBC Bank Plc by way of a legal mortgage over certain of the company's freehold investment properties and by a fixed and floating charge over all assets of the company.
9. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:

| 2025 | 2024
| £ | £
Not later than 1 year | 9,600 | 9,600
Later than 1 year and not later than 5 years | 24,800 | 34,400
| -------- | --------
| 34,400 | 44,000
| -------- | --------