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Registered number: 09293070 MARBLE ACQUISITIONS LTD DIRECTORS' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
MARBLE ACQUISITIONS LTD COMPANY INFORMATION
Directors | E R Burns
| J J Murnaghan
| T J Pearman
| D J Simmonds
| D C Ebbrell
Registered number | 09293070
Registered office | 10 Queen Street Place
| London
| United Kingdom
| EC4R 1AG
Independent auditors | HaysMac LLP
| 10 Queen Street Place
| London
| EC4R 1AG
MARBLE ACQUISITIONS LTD CONTENTS
| Page
Directors' Report | 1 - 2
Independent Auditors' Report | 3 - 6
Statement of Comprehensive Income | 7
Statement of Financial Position | 8
Statement of Changes in Equity | 9
Notes to the Financial Statements | 10 - 19
MARBLE ACQUISITIONS LTD DIRECTORS' REPORT FOR THE YEAR ENDED 31 DECEMBER 2025 The directors present their report and the financial statements for the year ended 31 December 2025.
Directors' responsibilities statement
The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations. Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 101 ‘Reduced Disclosure Framework’. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period. In preparing these financial statements, the directors are required to: ∙select suitable accounting policies and then apply them consistently; ∙make judgements and accounting estimates that are reasonable and prudent; ∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; ∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business. The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Directors
The directors who served during the year were:
E R Burns
J J Murnaghan
T J Pearman
D J Simmonds
D C Ebbrell
Disclosure of information to auditors
Each of the persons who are directors at the time when this Directors' Report is approved has confirmed that: ∙so far as the director is aware, there is no relevant audit information of which the Company's auditors are unaware, and ∙the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information.
Auditors
The auditors, HaysMac LLP, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006. Page 1
MARBLE ACQUISITIONS LTD DIRECTORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025
Small companies note
In preparing this report, the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006. This report was approved by the board and signed on its behalf.
................................................ D J Simmonds Director
Date: 1 July 2026
Page 2
MARBLE ACQUISITIONS LTD INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF MARBLE ACQUISITIONS LTD
Opinion
We have audited the financial statements of Marble Acquisitions Ltd (the 'Company') for the year ended 31 December 2025, which comprise the Statement of Comprehensive Income, the Statement of Financial Position, the Statement of Changes in Equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 101 ‘Reduced Disclosure Framework’ (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: ∙give a true and fair view of the state of the Company's affairs as at 31 December 2025 and of its profit for the year then ended; ∙have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and ∙have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report. Page 3
MARBLE ACQUISITIONS LTD INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF MARBLE ACQUISITIONS LTD (CONTINUED)
Other information
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
Opinion on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit: ∙the information given in the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and ∙the Directors' Report has been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors' Report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: ∙adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or ∙the financial statements are not in agreement with the accounting records and returns; or ∙certain disclosures of directors' remuneration specified by law are not made; or ∙we have not received all the information and explanations we require for our audit; or ∙the directors were not entitled to take advantage of the small companies' exemptions in preparing the Directors' Report and from the requirement to prepare a Strategic Report. Page 4
MARBLE ACQUISITIONS LTD INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF MARBLE ACQUISITIONS LTD (CONTINUED)
Responsibilities of directors
As explained more fully in the Directors' Responsibilities Statement set out on page 1, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so.
Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud Based on our understanding of the Company and industry, we identified the principal risks of non-compliance with laws and regulations and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006 and income tax, payroll tax and sales tax. We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to posting inappropriate journal entries to revenue and management bias in accounting estimates. Audit procedures performed by the engagement team included: ∙Considering correspondence with regulators and tax authorities ∙Discussions with management including consideration of known or suspected instances of non-compliance with laws and regulation and fraud; ∙Evaluating management’s controls designed to prevent and detect irregularities; ∙Identifying and testing journals, selecting journals for testing based on our fraud risk assessment; and ∙Challenging assumptions and judgements made by management in their critical accounting estimates. This included but was not limited to debtor recoverability. Page 5
MARBLE ACQUISITIONS LTD INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF MARBLE ACQUISITIONS LTD (CONTINUED) Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.
Use of our report
This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed. Jessica Edwards (Senior Statutory Auditor) for and on behalf of HaysMac LLP Statutory Auditors 10 Queen Street Place London EC4R 1AG 1 July 2026 Page 6
MARBLE ACQUISITIONS LTD STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER 2025
| 2025 | 2024
Note | £ | £
Turnover | 4 | 1,309,816 | 1,825,541
Gross profit |  | 1,309,816 | 1,825,541
Administrative expenses |  | (743,628) | (826,118)
Other operating income | 5 | 19,455 | 1,506
Operating profit |  | 585,643 | 1,000,929
Interest receivable and similar income | 8 | 37,977 | 51,796
Profit before tax |  | 623,620 | 1,052,725
Tax on profit | 9 | - | -
Profit for the financial year |  | 623,620 | 1,052,725
There was no other comprehensive income for 2025 (2024: £nil).
The notes on pages 10 to 19 form part of these financial statements.
Page 7
MARBLE ACQUISITIONS LTD REGISTERED NUMBER: 09293070 STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Investment property | 10 |  | 6,004,044 |  | 6,509,783
|  |  | 6,004,044 |  | 6,509,783
Current assets |  |  |  |  |
Debtors | 11 | 6,923,635 |  | 5,785,617 |
Cash at bank and in hand | 12 | 147,159 |  | 288,231 |
|  | 7,070,794 |  | 6,073,848 |
Creditors: amounts falling due within one year | 13 | (810,883) |  | (943,296) |
Net current assets |  |  | 6,259,911 |  | 5,130,552
Net assets |  |  | 12,263,955 |  | 11,640,335
Capital and reserves |  |  |  |  |
Called up share capital | 14 |  | 2 |  | 2
Profit and loss account |  |  | 12,263,953 |  | 11,640,333
|  |  | 12,263,955 |  | 11,640,335
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
................................................ D J Simmonds
Director
Date: 1 July 2026
The notes on pages 10 to 19 form part of these financial statements. Page 8
MARBLE ACQUISITIONS LTD STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 DECEMBER 2025
| Called up share capital | Profit and loss account | Total equity
| £ | £ | £
At 1 January 2024 | 2 | 10,587,608 | 10,587,610
Profit for the year | - | 1,052,725 | 1,052,725
At 1 January 2025 | 2 | 11,640,333 | 11,640,335
Profit for the year | - | 623,620 | 623,620
At 31 December 2025 | 2 | 12,263,953 | 12,263,955
| The notes on pages 10 to 19 form part of these financial statements.
Page 9
MARBLE ACQUISITIONS LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
1. | General information
Marble Acquisitions Ltd is a private company, limited by shares, and incorporated in England and Wales. The Company's registered number is 09293070 and registered office address is 10 Queen Street Place, London, United Kingdom, EC4R 1AG. The principal place of trading is 7th Floor, Blue Fin Building, 110 Southwark Street, London, United Kingdom, SE1 0SU. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 101 'Reduced Disclosure Framework' and the Companies Act 2006. The preparation of financial statements in compliance with FRS 101 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3). The following principal accounting policies have been applied:
| 2.2 | Financial Reporting Standard 101 - reduced disclosure exemptions
The Company has taken advantage of the following disclosure exemptions under FRS 101: ∙the requirements of IFRS 7 Financial Instruments: Disclosures ∙the requirements of paragraphs 91-99 of IFRS 13 Fair Value Measurement ∙the requirements of paragraph 52, the second sentence of paragraph 89, and paragraphs 90, 91 and 93 of IFRS 16 Leases. The requirements of paragraph 58 of IFRS 16, provided that the disclosure of details in indebtedness relating to amounts payable after 5 years required by company law is presented separately for lease liabilities and other liabilities, and in total ∙the requirement in paragraph 38 of IAS 1 'Presentation of Financial Statements' to present comparative information in respect of: - paragraph 79(a)(iv) of IAS 1; - paragraph 73(e) of IAS 16 Property, Plant and Equipment; - paragraphs 76 and 79(d) of IAS 40 Investment Property; and ∙the requirements of paragraphs 10(d), 10(f), 16, 38A, 38B, 38C, 38D, 40A, 40B, 40C, 40D, 111 and 134-136 of IAS 1 Presentation of Financial Statements ∙the requirements of IAS 7 Statement of Cash Flows ∙the requirements of paragraph 17 and 18A of IAS 24 Related Party Disclosures ∙the requirements in IAS 24 Related Party Disclosures to disclose related party transactions entered into between two or more members of a group, provided that any subsidiary which is a party to the transaction is wholly owned by such a member This information is included in the consolidated financial statements of Oxford M7 Platform Holding Company Limited as at 31 December 2025 and these financial statements may be obtained from its registered office at Gen II Corporate Services (Jersey) Limited, 47 Esplanade, St Helier, Jersey, JE1 0BD. Page 10
MARBLE ACQUISITIONS LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.3 | Going concern
The Company has reviewed its forecasts, challenging and sensitising inputs and assumptions to ensure that the cash forecast reflects the most prudent and realistic outcome given the economic uncertainties associated with the war in Ukraine, conflict in the middle east and high but stabilising interest rates. The Company determines that it has been, and will continue to be, well placed to manage the negative impact the economy has faced, as demonstrated by its profitability and a strong net asset and net current asset positions. Having assessed the heightened risks as well as mitigating factors and management strategies available to reduce such risks, the directors have determined that the Company has adequate resources to continue in operational existence for the foreseeable future. Therefore, the directors continue to adopt the going concern basis of accounting in preparing the annual financial statements.
| 2.4 | Foreign currency translation
The Company's functional and presentational currency is GBP.
| 2.5 | Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue includes rental income and gain on sale of properties. Revenue is measured as the fair value of the consideration received or receivable, for the rent of properties, excluding discounts and value added tax. Revenue on sale of a property is recognised when control over the property has been transferred to the customer which is considered to be at a point in time when the customer has taken possession of the property.
| 2.6 | Leases
The Company as a lessor Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee. All other leases are classified as operating leases. Rental income from operating leases is recognised on a straight-line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight-line basis over the lease term.
| 2.7 | Interest income
Interest income is recognised in the Statement of Comprehensive Income in the period to which it relates.
| 2.8 | Finance costs
Finance costs and interest payable are charged to the Statement of Comprehensive Income in the period to which they relate. Page 11
MARBLE ACQUISITIONS LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.9 | Taxation
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.
| 2.10 | Investment property
Investment properties are carried at cost less depreciation. Subsequent costs are included in the assets carrying amount only when it is probable future economic benefits associated with them will flow to the Company and the cost can be measured reliably. All other repairs and maintenance are charged to the Statement of Comprehensive Income during the financial period in which they are incurred. Investment properties are derecognised either when they have been disposed of or when they are withdrawn from use with no future economic benefit expected. The difference between the net disposal proceeds and the carrying value of the asset is recognised in the Statement of Comprehensive Income in the period of derecognition. Depreciation of investment property is provided on the following basis: Investment property - 40 years straight line The assets’ residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
| 2.11 | Impairment of investment properties
Investment properties which are in use are subject to depreciation and reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. An impairment loss is recognised for the amount by which the asset’s carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset’s fair value less costs of disposal and value in use. For the purposes of assessing impairment assets are grouped at the lowest levels for which there are largely independent cash inflows. Prior impairments of investment properties are reviewed for possible reversal at each reporting date.
| 2.12 | Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment. Page 12
MARBLE ACQUISITIONS LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.13 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
| 2.14 | Creditors
Creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Creditors are recognised initially at fair value and subsequently measured at amortised cost using the effective interest method.
| 2.15 | Financial instruments
The Company recognises financial instruments when it becomes a party to the contractual arrangements of the instrument. Financial instruments are de-recognised when they are discharged or when the contractual terms expire. The Company's accounting policies in respect of financial instruments transactions are explained below: Financial assets The Company classifies all of its financial assets as loan and receivables. Loans and receivables Loans and receivables are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market. They arise principally through the provision of goods and services to customers (e.g. trade receivables), but also incorporate other types of contractual monetary asset. They are initially recognised at fair value plus transaction costs that are directly attributable to their acquisition or issue, and are subsequently carried at amortised cost using the effective interest rate method, less provision for impairment. Impairment provisions are recognised when there is objective evidence (such as significant financial difficulties on the part of the counterparty or default or significant delay in payment) that the Company will be unable to collect all of the amounts due under the terms receivable, the amount of such a provision being the difference between the net carrying amount and the present value of the future expected cash flows associated with the impaired receivable. For trade receivables, which are reported net, such provisions are recorded in a separate allowance account with the loss being recognised within administrative expenses in the Statement of Comprehensive Income. On confirmation that the trade receivable will not be collected, the gross carrying value of the asset is written off against the associated provision. Page 13
MARBLE ACQUISITIONS LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued) Financial liabilities The Company classifies all of its financial liabilities as liabilities at amortised cost liabilities. At amortised cost Financial liabilities at amortised cost including bank borrowings are initially recognised at fair value net of any transaction costs directly attributable to the issue of the instrument. Such interest bearing liabilities are subsequently measured at amortised cost using the effective interest rate method, which ensures that any interest expense over the period to repayment is at a constant rate on the balance of the liability carried into the Statement of Financial Position.
3. | Judgements in applying accounting policies and key sources of estimation uncertainty
The preparation of the financial statements required management to make judgements, estimates and assumptions that affect the amounts recognised in the financial statements. The nature of estimation means that actual outcomes could differ from those estimates. In the opinion of management, the following judgements had the most significant effect on amounts recognised in the financial statements: - Useful economic life and residual value of investment property, on which depreciation is charged; and - Valuation of investment properties, resulting in net impairment charges.
4. | Turnover
| An analysis of turnover by class of business is as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Rent receivable | 1,237,095 | 1,193,155
| Profit on sale of investment property | 72,721 | 632,386
|  | 1,309,816 | 1,825,541
| All turnover arose within the United Kingdom.
5. | Other operating income
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Other operating income | 19,455 | 1,506
Page 14
MARBLE ACQUISITIONS LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
6. | Auditors' remuneration
| During the year, the Company obtained the following services from the Company's auditors and their associates:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Fees payable to the Company's auditors and their associates for the audit of the Company's financial statements | 27,000 | 33,500
| The Company has taken advantage of the exemption not to disclose amounts paid for non-audit services as these are disclosed in the consolidated accounts of the parent Company.
7. | Employees
The Company has no employees (2024 - no employees). All persons involved in the Company's operations are employed by group undertakings and no costs are borne by the Company.
8. | Interest receivable
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Interest receivable from group companies | 35,652 | 47,579
| Bank interest receivable | 2,325 | 4,217
|  | 37,977 | 51,796
Page 15
MARBLE ACQUISITIONS LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
9. | Taxation
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Total current tax | - | -
| Factors affecting tax charge for the year
| The tax assessed for the year is lower than (2024 - lower than) the standard rate of corporation tax in the UK of 25% (2024 - 25%). The differences are explained below:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Profit on ordinary activities before tax | 623,620 | 1,052,725
| Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2024 - 25%) | 155,905 | 263,181
| Effects of: |  |
| Fixed asset differences | 129,389 | -
| Non-tax deductible amortisation of goodwill and impairment | - | 2,616
| Capital allowances for year in excess of depreciation | - | 119,898
| Income not taxable | (24,566) | (17,576)
| Group relief claim | (260,728) | (368,119)
| Total tax charge for the year | - | -
Page 16
MARBLE ACQUISITIONS LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
10. | Investment property
|  | Freehold property
|  | £
| Cost or valuation |
| At 1 January 2025 | 8,061,556
| Additions | 11,816
| Disposals | (468,426)
| At 31 December 2025 | 7,604,946
| Depreciation |
| At 1 January 2025 | 1,551,773
| Charge for the year on owned assets | 49,129
| At 31 December 2025 | 1,600,902
| Net book value |
| At 31 December 2025 | 6,004,044
| At 31 December 2024 | 6,509,783
| As at the balance sheet date the valuation of the investment property performed by external valuers was £10,052,500 (2024: £10,597,500). The investment property acts as security on a bank loan held by the immediate parent of the Company.
11. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade debtors | 799,536 | 460,938
| Amounts owed by parent undertaking | 5,400,979 | 4,742,533
| Other debtors | 380,049 | 436,974
| Prepayments and accrued income | 343,071 | 145,172
|  | 6,923,635 | 5,785,617
| Net rents receivables are included net of the allowance made for expected credit losses, which totals £9,639 (2024: £46,912).
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MARBLE ACQUISITIONS LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
12. | Cash and cash equivalents
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Cash at bank and in hand | 147,159 | 288,231
13. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade creditors | 4,344 | 69,121
| Other taxation and social security | 24,931 | 6,383
| Other creditors | 385,946 | 445,478
| Accruals and deferred income | 395,662 | 422,314
|  | 810,883 | 943,296
14. | Share capital
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 1 (2024 - 1) Class A share of £1.00 | 1 | 1
|  | 1 (2024 - 1) Class B share of £1.00 | 1 | 1
|  |  | 2 | 2
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MARBLE ACQUISITIONS LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
15. | Operating lease receivables
| At 31 December 2025 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Not later than 1 year | 1,081,777 | 966,788
| 1 - 2 years | 422,409 | 504,374
| 2 - 3 years | 198,665 | 319,249
| 3 - 4 years | 35,101 | 148,370
| 4 - 5 years | 12,546 | 27,530
| Later than 5 years | 1,219,534 | 1,911,364
|  | 2,970,032 | 3,877,675
16. | Related party transactions
| During the year, the Company entered into transactions with a connected entity. At the year end, an amount of £17,378 (2024: £nil) was owed to the related party. The transactions were undertaken on an arm’s length basis, and the balance is unsecured, interest-free and repayable on demand.
17. | Controlling party
The immediate parent of the Company is M7 Real Estate Investment Holdings Holdco Ltd, a company incorporated in England and Wales. The smallest and largest group preparing consolidated financial statements is headed by Oxford M7 Platform Holding Company Limited, registered at Gen II Corporate Services (Jersey) Limited, 47Esplanade, St Helier, Jersey, JE1 0BD. The ultimate parent company is Oxford European Holdings Inc., a company incorporated in Canada. The ultimate controlling party is OMERS Administration Corporation, a pension fund registered in Canada.
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