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Registration number: 06349881

Galleon Wealth (IFA) Limited
Unaudited Abridged Financial Statements
for the Year Ended 5 April 2025

Galleon Wealth (IFA) Limited

Contents

Abridged Balance Sheet | 1 to 2
Notes to the Unaudited Abridged Financial Statements | 3 to 5

Galleon Wealth (IFA) Limited

(Registration number: 06349881)
Abridged Balance Sheet as at 5 April 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Intangible assets | 4 | (40) | 7,559
Current assets |  |  |
Debtors |  | 37,586 | 37,586
Cash at bank and in hand |  | 5 | 595
|  | 37,591 | 38,181
Creditors: Amounts falling due within one year |  | (109,062) | (108,962)
Net current liabilities |  | (71,471) | (70,781)
Total assets less current liabilities |  | (71,511) | (63,222)
Accruals and deferred income |  | (2,114) | (2,113)
Net liabilities |  | (73,625) | (65,335)
Capital and reserves |  |  |
Called up share capital | 5 | 1 | 1
Retained earnings |  | (73,626) | (65,336)
Shareholders' deficit |  | (73,625) | (65,335)

Galleon Wealth (IFA) Limited

(Registration number: 06349881)
Abridged Balance Sheet as at 5 April 2025 (continued)

For the financial year ending 5 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 31 December 2025

......................................... Mr R A Pettitt Director

Galleon Wealth (IFA) Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 5 April 2025

1 | General information

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

The address of its registered office is:
67 Beech Road
Rushmere St Andrew
Ipswich
Suffolk
IP5 1AP

These financial statements were authorised for issue by the director on 31 December 2025.

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 abridged 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 abridged 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.

Going concern

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Galleon Wealth (IFA) Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 5 April 2025 (continued)

2 | Accounting policies (continued)

Tax

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.

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class | Amortisation method and rate
Goodwill | 5% straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Galleon Wealth (IFA) Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 5 April 2025 (continued)

2 | Accounting policies (continued)

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3 | Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2024 - 1).

4 | Intangible assets

| Total £
Cost or valuation
At 6 April 2024 | 223,035
At 5 April 2025 | 223,035
Amortisation
At 6 April 2024 | 215,476
Amortisation charge | 7,599
At 5 April 2025 | 223,075
Carrying amount
At 5 April 2025 | (40)
At 5 April 2024 | 7,559

5 | Share capital

Allotted, called up and fully paid shares

| 2025 | 2024
| No. | £ | No. | £
Ordinary of £1 each | 1 | 1 | 1 | 1