Abbreviated Company Accounts - GALLEON MARINE INSURANCE AGENCY LIMITED

GALLEON MARINE INSURANCE AGENCY LIMITED - Company Information

07151088 GALLEON MARINE INSURANCE AGENCY LIMITED 2015-03-31 false 2014-04-01 2015-03-31 true 07151088 2014-04-01 2015-03-31 07151088 2015-03-31 07151088 2014-03-31 07151088 uk-gaap-cd-bus:Director1 2014-04-01 2015-03-31 07151088 uk-gaap-cd-bus:Director2 2014-04-01 2015-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-04-01 2015-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-03-31 iso4217:GBP shares

Registered Number 07151088

GALLEON MARINE INSURANCE AGENCY LIMITED

Abbreviated Accounts

31 March 2015

GALLEON MARINE INSURANCE AGENCY LIMITED Registered Number 07151088

Abbreviated Balance Sheet as at 31 March 2015

	Notes	2015	2014
		£	£
Fixed assets
Tangible assets	2	5,584	1,983
		5,584	1,983
Current assets
Debtors		2,255,027	3,238,577
Cash at bank and in hand		1,317,815	1,812,380
		3,572,842	5,050,957
Net current assets (liabilities)		3,572,842	5,050,957
Total assets less current liabilities		3,578,426	5,052,940
Creditors: amounts falling due after more than one year		(2,947,234)	(4,531,721)
Total net assets (liabilities)		631,192	521,219
Capital and reserves
Called up share capital	3	25,000	25,000
Profit and loss account		606,192	496,219
Shareholders' funds		631,192	521,219

For the year ending 31 March 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 10 December 2015

And signed on their behalf by:
C Curran, Director

GALLEON MARINE INSURANCE AGENCY LIMITED Registered Number 07151088

Notes to the Abbreviated Accounts for the period ended 31 March 2015

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Agency fee income is recognised at the date of inception of the risk. Adjustments relating to additional premiums and/or return premiums are accounted for as they arise.

Tangible assets depreciation policy
Tangible fixed assets are held at historical cost, net of depreciation and any provisions for impairments.

Depreciation has been provided at the following rates in order to write off the aseets over their estimated useful lives:-

Office equipment - 35% straight line

2Tangible fixed assets

	£
Cost
At 1 April 2014	7,871
Additions	6,851
Disposals	-
Revaluations	-
Transfers	-
At 31 March 2015	14,722
Depreciation
At 1 April 2014	5,888
Charge for the year	3,250
On disposals	-
At 31 March 2015	9,138
Net book values
At 31 March 2015	5,584
At 31 March 2014	1,983

3Called Up Share Capital
Allotted, called up and fully paid:

	2015 £	2014 £
25,000 Ordinary shares of £1 each	25,000	25,000