IGY SKD Management Co. Ltd

Notes to the Financial Statements for the Year Ended 31 December 2025

1	General information

IGY SKD Management Co. Ltd is a private company, limited by shares, incorporated in England and Wales. The registered office is 5th Floor, 2 Copthall Avenue, London, EC2R 7DA.

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 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 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.

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 £.

Going concern

The financial statements have been prepared on the going concern basis of accounting. This presumes that the Company will remain in operational existence for the foreseeable future. The Company does require support from the Group and this support is expected to continue to be required for at least the next 12 months from signing of the financial statements.

The Company has received a letter of support from the parent undertaking to confirm their willingness to provide this support for at least the required period. The Directors’ have, in making their assessment of going concern, considered the ability of the parent entity to continue to provide the required support and are satisfied that the parent has sufficient facilities available to enable them to provide the required financial support.

Audit report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 25 August 2026 was Simon Roper, who signed for and on behalf of Fuller & Roper Limited.

Revenue recognition

Income is derived from recharges to group companies and is recognised when costs are incurred.

Foreign currency transactions and balances

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in
foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

IGY SKD Management Co. Ltd

Notes to the Financial Statements for the Year Ended 31 December 2025

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a
previous period.

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in the tax assessments.

Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they
will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

The company's liability for current and deferred tax is calculated using tax rates that have been enacted or
substantively enacted by the reporting end date.

Share capital

Ordinary shares are classified as equity. Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

IGY SKD Management Co. Ltd

Notes to the Financial Statements for the Year Ended 31 December 2025

Financial instruments

The company only enters into Basic financial instrument transactions.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 12 (2024 - 12).

4

Debtors

Current	Note	2025 £	2024 £
Amounts owed by group undertakings	7	176,481	149,340

IGY SKD Management Co. Ltd

Notes to the Financial Statements for the Year Ended 31 December 2025

5

Creditors

Creditors: amounts falling due within one year

	2025 £	2024 £
Due within one year
Taxation and social security	43,605	35,289
Accruals and deferred income	56,210	49,927
	99,815	85,216

6	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary shares of £0.10 each	10	1	10	1

7	Related party transactions

The company is a wholly owned subsidiary of IGY Services Europe Limited, and has taken advantage of the exemption under FRS 102 section 33.1A as a qualifying entity from disclosing related party transactions with group companies.

8	Parent and ultimate parent undertaking

The company's immediate parent is IGY Services Europe Limited, incorporated in England and Wales.

 The ultimate parent is MarineMax, Inc., incorporated in the United States of America.

 The most senior parent entity producing publicly available financial statements is MarineMax, Inc. These financial statements are available upon request from 2600 McCormick Drive Suite 200, Clearwater, Florida 33759, United States of America. MarineMax, Inc. is listed on the New York Stock Exchange.