Lilley Marine LLP

	Page
Abridged Balance Sheet	1—2
Notes to the Abridged Financial Statements	3—4

Registered number: OC391970

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		13,885		17,537

			13,885		17,537
CURRENT ASSETS
Debtors		56,790		77,689
Cash at bank and in hand		2,573		11,630

		59,363		89,319
Creditors: Amounts Falling Due Within One Year		(3,845 )		(3,139 )

NET CURRENT ASSETS (LIABILITIES)			55,518		86,180

TOTAL ASSETS LESS CURRENT LIABILITIES			69,403		103,717

NET ASSETS ATTRIBUTABLE TO MEMBERS			69,403		103,717

REPRESENTED BY:
Loans and other debts due to members within one year
Other amounts		69,403		103,717

			69,403		103,717

			69,403		103,717

TOTAL MEMBERS' INTEREST
Amounts due from members			(50,993)		(66,510)
Loans and other debts due to members within one year			69,403		103,717

			18,410		37,207

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Lilley Marine LLP

Abridged Balance Sheet (continued)

As At 5 April 2025

For the year ending 5 April 2025 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 applicable to LLPs subject to the small LLPs regime.)

The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The LLP has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the LLP's Profit and Loss Account.

All of the LLP's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 5 April 2025 in accordance with section 444(2A) of the Companies Act 2006.

On behalf of the members

P C Lilley

Designated Member

31 December 2025

The notes on pages 3 to 4 form part of these financial statements.

1. General Information

Lilley Marine LLP is a limited liability partnership, incorporated in England & Wales, registered number OC391970 . The Registered Office is Twelve Acre Farmhouse, 390 Warsash Road, Titchfield Common, Fareham, Hampshire, PO14 4LJ.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 for small limited liability partnerships regime - The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), The Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2021 (SORP) and the Companies Act 2006 (as applied to LLPs).

The financial statements are prepared in sterling which is the functional currency of the LLP.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	15% reducing balance
Motor Vehicles	25% reducing balance
Fixtures & Fittings	25% straight line
Computer Equipment	25% straight line

3. Average Number of Employees

Average number of employees, including members with contracts of employment, during the year was: 3 (2024: 3)

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Lilley Marine LLP

Notes to the Abridged Financial Statements (continued)

For The Year Ended 5 April 2025

4. Tangible Assets

	Total
	£
Cost
As at 6 April 2024	78,806
Additions	930

As at 5 April 2025	79,736

Depreciation
As at 6 April 2024	61,269
Provided during the period	4,582

As at 5 April 2025	65,851

Net Book Value
As at 5 April 2025	13,885

As at 6 April 2024	17,537

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