1 April 2025 false Taxfiler 2024.6 true 05727685 business:PrivateLimitedCompanyLtd 2025-04-01 2026-03-31 05727685 2025-03-31 05727685 2025-04-01 2026-03-31 05727685 business:AuditExemptWithAccountantsReport 2025-04-01 2026-03-31 05727685 business:FilletedAccounts 2025-04-01 2026-03-31 05727685 2026-03-31 05727685 business:Director1 2025-04-01 2026-03-31 05727685 business:Director2 2025-04-01 2026-03-31 05727685 business:CompanySecretary1 2025-04-01 2026-03-31 05727685 business:RegisteredOffice 2025-04-01 2026-03-31 05727685 2025-03-31 05727685 core:WithinOneYear 2026-03-31 05727685 core:WithinOneYear 2025-03-31 05727685 core:AfterOneYear 2026-03-31 05727685 core:AfterOneYear 2025-03-31 05727685 core:ShareCapital core:PreviouslyStatedAmount 2026-03-31 05727685 core:ShareCapital core:PreviouslyStatedAmount 2025-03-31 05727685 core:SharePremium core:PreviouslyStatedAmount 2026-03-31 05727685 core:SharePremium core:PreviouslyStatedAmount 2025-03-31 05727685 core:RevaluationReserve core:PreviouslyStatedAmount 2026-03-31 05727685 core:RevaluationReserve core:PreviouslyStatedAmount 2025-03-31 05727685 core:RetainedEarningsAccumulatedLosses core:PreviouslyStatedAmount 2026-03-31 05727685 core:RetainedEarningsAccumulatedLosses core:PreviouslyStatedAmount 2025-03-31 05727685 core:PreviouslyStatedAmount 2026-03-31 05727685 core:PreviouslyStatedAmount 2025-03-31 05727685 business:SmallEntities 2025-04-01 2026-03-31 05727685 countries:EnglandWales 2025-04-01 2026-03-31 05727685 core:FurnitureFittings 2025-04-01 2026-03-31 05727685 core:ComputerEquipment 2025-04-01 2026-03-31 05727685 core:FurnitureFittings 2025-03-31 05727685 core:ComputerEquipment 2025-03-31 05727685 core:FurnitureFittings 2026-03-31 05727685 core:ComputerEquipment 2026-03-31 05727685 core:AdditionsToInvestments 2026-03-31 05727685 core:WithinOneYear 2025-04-01 2026-03-31 05727685 core:AfterOneYear 2025-04-01 2026-03-31 05727685 business:OrdinaryShareClass1 2025-04-01 2026-03-31 05727685 business:OrdinaryShareClass1 2024-04-01 2025-03-31 05727685 2024-04-01 2025-03-31 iso4217:GBP xbrli:shares xbrli:pure
Company Registration No. 05727685 (England and Wales)
MARINAT PROPERTIES LIMITED Unaudited accounts for the year ended 31 March 2026
MARINAT PROPERTIES LIMITED Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
- 2 -
MARINAT PROPERTIES LIMITED Company Information for the year ended 31 March 2026
Directors
Mr Gabriel Theophanous Mrs Mary Theophanous
Secretary
Mrs Mary Theophanous
Company Number
05727685 (England and Wales)
Registered Office
48 BEECHCROFT ROAD BUSHEY HERTS WD23 2JU
Accountants
Fielding Accountancy Services Ltd 48 Beechcroft Road Bushey Herts WD23 2JU
- 3 -
MARINAT PROPERTIES LIMITED Statement of financial position as at 31 March 2026
2026
2025
Notes
£
£
Fixed assets
Tangible assets
4
3,004
2,982
Investment property
5
1,076,086
2,027,571
Investments
6
184,010
74,010
1,263,100
2,104,563
Current assets
Debtors
7
56,000
58,070
Cash at bank and in hand
99,697
67,548
155,697
125,618
Creditors: amounts falling due within one year
8
(78,306)
(132,773)
Net current assets/(liabilities)
77,391
(7,155)
Total assets less current liabilities
1,340,491
2,097,408
Creditors: amounts falling due after more than one year
9
(726,011)
(1,181,796)
Provisions for liabilities
Deferred tax
(755)
(755)
Net assets
613,725
914,857
Capital and reserves
Called up share capital
10
1,000
1,000
Share premium
1,198,229
1,198,229
Revaluation reserve
22,780
32,780
Profit and loss account
(608,284)
(317,152)
Shareholders' funds
613,725
914,857
For the year ending 31 March 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 27 May 2026 and were signed on its behalf by
Mr Gabriel Theophanous Director Company Registration No. 05727685
- 4 -
MARINAT PROPERTIES LIMITED Notes to the Accounts for the year ended 31 March 2026
1
Statutory information
MARINAT PROPERTIES LIMITED is a private company, limited by shares, registered in England and Wales, registration number 05727685. The registered office is 48 BEECHCROFT ROAD, BUSHEY, HERTS, WD23 2JU.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
20% Reducing Balance
Computer equipment
20% Reducing Balance
Investment properties
Investment properties are included at fair value. Investment properties were last valued on an open market basis on 31st March 2021 by the Directors. This year, 2025, relevant properties have been revalued with the necessary adjustment to the Revaluation Reserve. If investment properties had not been revalued they would have been included at the following historical cost including capitalised improvements: at 31 3 25 £1811520 at 31 3 26 £1186722 One of the the investment properies that had proceeded to 'exchange' during the accounts year 2022, has been provided for at the anticipated final cost of £225000, together with a provision for the anticipated loan finance required of £169000. However, during this year, it has become apparent that due to the failure of the developer, it may not proceed to completion. While legal action continues, the net cost less finance, ie £56000 has been included in sundry debtors, with the cost and finance provision adjusted for accordingly.
- 5 -
MARINAT PROPERTIES LIMITED Notes to the Accounts for the year ended 31 March 2026
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Going concern
These financial statements have been prepared on a going concern basis.
Transition Note
The comparative Profit & Loss Account has been adjusted for the revaluation surplus that needs to be merged in the Profit & Loss account under FRS 102 Section 1a
4
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
£
£
£
Cost or valuation
At cost
At cost
At 1 April 2025
6,206
2,304
8,510
Additions
-
773
773
At 31 March 2026
6,206
3,077
9,283
Depreciation
At 1 April 2025
3,576
1,952
5,528
Charge for the year
526
225
751
At 31 March 2026
4,102
2,177
6,279
Net book value
At 31 March 2026
2,104
900
3,004
At 31 March 2025
2,630
352
2,982
5
Investment property
2026
£
Fair value at 1 April 2025
2,027,571
Disposals
(951,485)
At 31 March 2026
1,076,086
Investment properties were last valued on an open market basis on 31st March 2021 by the Directors. This year, 2023, relevant properties have been revalued at an Open Market Basis, with the necessary adjustment to the Revaluation Reserve.
- 6 -
MARINAT PROPERTIES LIMITED Notes to the Accounts for the year ended 31 March 2026
6
Investments
Other investments
£
Valuation at 1 April 2025
74,010
Additions
110,000
Valuation at 31 March 2026
184,010
This investment is in Fine Wines and Crypto Currency acquired during the year. No revaluation is considered necessary as at 31/03/2023.
7
Debtors
2026
2025
£
£
Amounts falling due within one year
Other debtors
56,000
58,070
8
Creditors: amounts falling due within one year
2026
2025
£
£
Bank loans and overdrafts
39,411
75,263
Other creditors
28,258
44,258
Loans from directors
5,770
7,928
Accruals
4,867
5,324
78,306
132,773
Included here is a Government backed Bounce Back Loan.
9
Creditors: amounts falling due after more than one year
2026
2025
£
£
Bank loans
726,011
1,181,796
Included here is a Covid Bounce Back Loan of £17368 (2022 £32497)
10
Share capital
2026
2025
£
£
Allotted, called up and fully paid:
1,000 Ordinary shares of £1 each
1,000
1,000
11
Transactions with related parties
There are no Related Party Transactions and no Dividends paid to shareholders.
12
Average number of employees
During the year the average number of employees was 2 (2025: 3).
- 7 -