REGISTERED NUMBER: OC392764 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

GALLEON MARINE BOATYARD LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

A J McCaffrey

Mrs K A McCaffrey

REGISTERED OFFICE:

Colt Hill

Odiham

Hook

Hampshire

RG29 1AL

REGISTERED NUMBER:

OC392764 (England and Wales)

ACCOUNTANTS:

Goddard & Co

Chartered Accountants

3 Church Street

Odiham, Hook

Hampshire

RG29 1LU

FIXED ASSETS

Intangible assets

4

-

4,312

Tangible assets

5

-

2,113

-

6,425

CURRENT ASSETS

Debtors

6

49,505

17,084

Cash at bank and in hand

350

12,086

49,855

29,170

CREDITORS

Amounts falling due within one year

7

49,855

24,812

NET CURRENT ASSETS

-

4,358

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS

-

10,783

LOANS AND OTHER DEBTS DUE TO MEMBERS

8

-

10,783

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

8

-

10,783

Amounts due from members

6

(26,505

)

-

(26,505

)

10,783

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31 March 2025.

The members acknowledge their responsibilities for:

(a)	ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the LLP 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 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

The financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 9 December 2025 and were signed by:

A J McCaffrey - Designated member

1.	STATUTORY INFORMATION

Galleon Marine Boatyard LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

The partnership has adopted Financial Reporting Standard 102 section 1A with the effective date of transition being 1st April 2015. The policies applied under the entity's previous accounting framework are not materially different to FRS102 and have not impacted on equity or profit or loss.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings

-

10% on cost

Plant and machinery etc

-

33% on cost

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was NIL (2024 - 1 ).

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

and 31 March 2025

129,364

AMORTISATION

At 1 April 2024

125,052

Charge for year

4,312

At 31 March 2025

129,364

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

4,312

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2024

and 31 March 2025

19,000

67,425

86,425

DEPRECIATION

At 1 April 2024

18,367

65,945

84,312

Charge for year

633

1,480

2,113

At 31 March 2025

19,000

67,425

86,425

NET BOOK VALUE

At 31 March 2025

-

-

-

At 31 March 2024

633

1,480

2,113

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

20,918

14,551

Other debtors

28,587

2,533

49,505

17,084

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

3,369

-

Trade creditors

5,330

2,620

Taxation and social security

4,686

1,360

Other creditors

36,470

20,832

49,855

24,812

8.

LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members rank equally with debts due to ordinary creditors in a winding up.