Registration number: 07188583

Marine Buildings Limited

(Registration number: 07188583)
Statement of Financial Position as at 30 April 2026

	Note	2026 £	2025 £
Fixed assets
Tangible assets	4	126	287
Investment property	5	2,450,000	2,467,500
		2,450,126	2,467,787
Current assets
Debtors	6	84,874	39,735
Cash at bank and in hand		71,428	41,122
		156,302	80,857
Creditors: Amounts falling due within one year	7	(406,954)	(352,933)
Net current liabilities		(250,652)	(272,076)
Total assets less current liabilities		2,199,474	2,195,711
Creditors: Amounts falling due after more than one year	7	(513,835)	(553,681)
Provisions for liabilities		(194,623)	(198,998)
Net assets		1,491,016	1,443,032
Capital and reserves
Called up share capital		16	16
Revaluation reserve		827,089	844,589
Retained earnings		663,911	598,427
Shareholders' funds		1,491,016	1,443,032

Marine Buildings Limited

(Registration number: 07188583)
Statement of Financial Position as at 30 April 2026

For the financial year ending 30 April 2026 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

Marine Buildings Limited

(Registration number: 07188583)
Statement of Financial Position as at 30 April 2026

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the Board on 5 November 2026 and signed on its behalf by:
 

......................................... Mr John Scott Barnes Director

......................................... Mr Austin James Scott Barnes Director

Marine Buildings Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2026

1	General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Marine House
Norman Terrace
Willington Quay
Wallsend
Tyne And Wear
NE28 6SU

These financial statements were authorised for issue by the Board on 5 November 2026.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in UK Pound Sterling (£), which is the functional currency of the company

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover represents rental income receivable from investment properties, stated net of value added tax.

Rental income is recognised on a straight-line basis over the respective lease term.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

Marine Buildings Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2026

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Marine Buildings Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2026

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2025 - 0).

4	Tangible assets

	Fixtures and fittings £	Office equipment £	Total £
Cost or valuation
At 1 May 2025	2,323	5,970	8,293
At 30 April 2026	2,323	5,970	8,293
Depreciation
At 1 May 2025	2,036	5,970	8,006
Charge for the year	161	-	161
At 30 April 2026	2,197	5,970	8,167
Carrying amount
At 30 April 2026	126	-	126
At 30 April 2025	287	-	287

5	Investment properties

	2026 £
At 1 May	2,467,500
Fair value adjustments	(17,500)
At 30 April	2,450,000

The commercial investment properties have been independently valued by an appropriately qualified external valuer. The residential investment properties have been valued by the directors based on their assessment of fair value, having regard to recent market transactions and other relevant market evidence.

6

Debtors

Current	2026 £	2025 £
Trade debtors	82,846	37,486
Prepayments	2,028	2,249
	84,874	39,735

Marine Buildings Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2026

7

Creditors

Creditors: amounts falling due within one year

	Note	2026 £	2025 £
Due within one year
Loans and borrowings	9	28,332	16,818
Trade creditors		17,485	91
Taxation and social security		30,759	32,771
Accruals and deferred income		1,625	1,550
Other creditors		328,753	301,703
		406,954	352,933

Creditors: amounts falling due after more than one year

	Note	2026 £	2025 £
Due after one year
Loans and borrowings	9	513,835	553,681

8

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

	Revaluation reserve £	Total £
Surplus/deficit on revaluation of other assets	(17,500)	(17,500)

9	Loans and borrowings

Non-current loans and borrowings

	2026 £	2025 £
Bank borrowings	513,835	553,681

Current loans and borrowings

	2026 £	2025 £
Bank borrowings	28,332	16,818