THE MARINE & PROPERTY GROUP LIMITED
The Marine & Property Group are the parent company to five subsidiaries, each corresponding to their marinas and facilities in Cardiff, Swansea, Burry Port, Aberystwyth, and Port Dinorwic. They offer a range of services from berthing to maintenance and repairs, as well as property for marine leisure and commercial customers. On the horizon is a lively new apartment and amenities development adjacent to Cardiff Marina called Bayscape; the money will go towards these new facilities.
Marine living made perfect
We're a large presence in the community and use this as a platform to promote good causes. We've partnered with the charity, CLIC Sargent, who support young people affected by cancer, to organise and attend events such as pub quiz nights, boat festivals, and marathons. In addition, we support The Green Blue initiative of the British Marine Federation and the Royal Yachting Association. Therefore, we do our utmost to consider the environment as we install solar panels and recycling bins, as well as regulating customer behaviour with regards to wildlife, sewage, and spillages.
Our HQ is our Cardiff site. Adjacent to this, is Bayscape, a new multi-functional development on an exclusive waterfront setting. Primarily, this will include 1, 2, and 3 bedroom apartments for homemakers, thereby creating Cardiff's first and only marina address. We will use the money raised in this campaign to continue to develop these facilities, including a new management suite. Finally, we have a location for a coffee shop/lounge bar overlooking the River Ely and perfect for al fresco entertaining.
Where will the funds go?
A. Yes. Aberystwyth (KPI-occupancy). With the completion of significant capital expenditure (£650'000) now completed occupancy is increasing by 15% per year. It is now making a net profit. Port Dinorwic (KPI occupancy and service productivity). Is highly profitable. 2017 accounts are for 5 months only and include exceptional acquisition costs. CDS / CMGP - (KPI Productivity) - is now just moving into profit after a difficult 24 months. New manager has secured major new contracts and new engineers.
A. The debtor balance is relatively high as it includes amounts owed by Bayscape Ltd a sister company of The Marine & Property Group Ltd. These are non trading balances and relate to items such as land transfers at market value.
A. Hello. The consolidated accounts to December 2017 can be found at: http://themarinegroup.co.uk/app/uploads/2018/07/Consolidated-Accounts-Dec-2017.pdf
We do not, as you would expect, publish monthly management accounts but I can advise that in the six months to June 2018, the results are as follows. Turnover £2.4m (annualised £4.4m), gross profit £1.5m (£3.0m), EBITDA £1.1m (£2.2m) and net profit £670'000 (£1.3m). This growth is consistent with plan.
A. Hello. Responses follow.
1/ The Group has paid down £1'030'000 in capital in the period and net debt is now 26.2% on a LTV basis. The net asset position is now £21 million. Profits have thus been used to reduce debt.
2/ Both directors have provided a guarantee and we are comfortable about so doing.
3/ Previous loans with Crowd2Fund were used for other acquisitions and transactions. These are part repaid per terms and all have been impeccable serviced.
A. The Marine & Property Group Ltd is the holding company of six subsidiary companies including Cardiff Marine Services Ltd (CMS). More information on the group (including consolidated Accounts and downloads) can be found at: http://themarinegroup.co.uk/about-us/ . The loans to CMS were for the purpose of other acquisitions and capital projects and have a perfect service track record and have been running for some time.
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