REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
FOR |
THE BRIGHTON MARINA COMPANY LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
FOR |
THE BRIGHTON MARINA COMPANY LIMITED |
THE BRIGHTON MARINA COMPANY LIMITED (REGISTERED NUMBER: 01720715) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
THE BRIGHTON MARINA COMPANY LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Unit 2.02 |
High Weald House |
Glovers End |
Bexhill |
East Sussex |
TN39 5ES |
THE BRIGHTON MARINA COMPANY LIMITED (REGISTERED NUMBER: 01720715) |
STATEMENT OF FINANCIAL POSITION |
31 DECEMBER 2022 |
2022 | 2021 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 7 |
Special reserve |
SHAREHOLDERS' FUNDS |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
THE BRIGHTON MARINA COMPANY LIMITED (REGISTERED NUMBER: 01720715) |
STATEMENT OF FINANCIAL POSITION - continued |
31 DECEMBER 2022 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
THE BRIGHTON MARINA COMPANY LIMITED (REGISTERED NUMBER: 01720715) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
1. | STATUTORY INFORMATION |
The Brighton Marina Company Limited is a |
2. | ACCOUNTING POLICIES |
BASIS OF PREPARING THE FINANCIAL STATEMENTS |
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 £1. |
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies. |
The following principal accounting policies have been applied: |
TURNOVER |
Revenue represents amounts receivable for services provided on the Marina site and rents excluding VAT. In the opinion of the directors, these classes of business do no differ substantially from each other. |
TAXATION |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date. |
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. |
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. |
FIXED ASSET INVESTMENTS |
Fixed asset investments comprise a lease extension that has been revalued. Investments are accounted for at cost less accumulated amortisation. No amortisation has been charged as the asset continues to receive income and therefore there has been no reduction in the value |
THE BRIGHTON MARINA COMPANY LIMITED (REGISTERED NUMBER: 01720715) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2021 - NIL). |
4. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
Cost |
At 1 January 2022 |
Additions |
At 31 December 2022 |
Net book value |
At 31 December 2022 |
At 31 December 2021 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
VAT |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Other creditors |
Accruals and deferred income |
7. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2022 | 2021 |
value: | £ | £ |
Ordinary | £1 | 200,000 | 200,000 |
THE BRIGHTON MARINA COMPANY LIMITED (REGISTERED NUMBER: 01720715) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
8. | SUBSIDIARY UNDERTAKINGS |
The following were subsidiary undertakings of the company. |
Direct Subsidiary undertakings |
Name | Holding | Principal activity |
B.M. Com. Lease Extension LLP | 50 % | Property management |
Brighton Marina Village Estate Company Partnership LLP |
50 % |
Property management |
The aggregate of the share capital and reserves as at 31 December 2021 and of profit or loss for the year ended on that date for the subsidiary undertakings were as follows: |
Aggregate of share capital and reserves |
Profit/ (Loss |
) |
B.M.Com. Lease Extension LLP | 461,745 | 218,928 |
Brighton Marina Village Estate Company Partnership LLP | 43,877 | 515 |
The Brighton Marina Estate Management Company Limited | 1 | - |
The Brighton Marina Residential Management Company Limited | 990 |
9. | SPECIAL RESERVE |
The special reserves comprise the balance of revaluations relating to the investment property net of deferred tax on the gain. This reserve is non-distributable. |
PROFIT AND LOSS ACCOUNT |
The profit and loss account comprise the balance of profits accumulated over the life of the company. This reserve is distributable. |