IRIS Accounts Production v24.1.0.578 OC436414 designated member designated member 1.4.23 31.3.24 31.3.24 0 0 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhOC4364142023-03-31OC4364142024-03-31OC4364142023-04-012024-03-31OC4364142022-03-31OC4364142022-04-012023-03-31OC4364142023-03-31OC436414ns15:EnglandWales2023-04-012024-03-31OC436414ns14:Euro2023-04-012024-03-31OC436414ns10:Director12023-04-012024-03-31OC436414ns10:Director22023-04-012024-03-31OC436414ns10:LimitedLiabilityPartnershipLLP2023-04-012024-03-31OC436414ns10:SmallEntities2023-04-012024-03-31OC436414ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-31OC436414ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-31OC436414ns10:LimitedLiabilityPartnershipsSORP2023-04-012024-03-31OC436414ns10:FullAccounts2023-04-012024-03-31OC436414ns10:RegisteredOffice2023-04-012024-03-31OC436414ns5:CurrentFinancialInstruments2024-03-31OC436414ns5:CurrentFinancialInstruments2023-03-31OC436414ns5:PlantMachinery2023-04-012024-03-31OC436414ns5:PlantMachinery2023-03-31OC436414ns5:PlantMachinery2024-03-31OC436414ns5:PlantMachinery2023-03-31OC43641412023-04-012024-03-31
REGISTERED NUMBER: OC436414 (England and Wales)












Unaudited Financial Statements for the Year Ended 31 March 2024

for

Onyx Sailing LLP

Onyx Sailing LLP (Registered number: OC436414)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Onyx Sailing LLP

General Information
for the Year Ended 31 March 2024







DESIGNATED MEMBERS: Thor Johan Furuholmen
Kristine Losnes Steffens Furuholmen





REGISTERED OFFICE: 12 Lyncroft Close
Old St Mellons
Cardiff
CF3 5PX





REGISTERED NUMBER: OC436414 (England and Wales)





ACCOUNTANTS: Hawksford UK Services Limited
123 Pall Mall
St. James's
London
SW1Y 5EA

Onyx Sailing LLP (Registered number: OC436414)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes €    €   
FIXED ASSETS
Tangible assets 4 3,387,450 3,207,496

CURRENT ASSETS
Cash at bank and in hand 75,724 -

CREDITORS
Amounts falling due within one year 5 (17,328 ) (3,404 )
NET CURRENT ASSETS/(LIABILITIES) 58,396 (3,404 )
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

3,445,846

3,204,092

LOANS AND OTHER DEBTS DUE TO
MEMBERS

3,445,846

3,204,092

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 3,445,846 3,204,092

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 2024.

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 25 March 2025 and were signed by:





Thor Johan Furuholmen - Designated member

Onyx Sailing LLP (Registered number: OC436414)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Onyx Sailing 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 financial statements have been prepared in euros and this is considered by the members to be the company's functional currency.

The LLP only holds the yacht, the income and expenses are incurred and paid directly by the members.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 10% on cost

Tangible fixed assets are stated at cost less depreciation. Cost include the purchase cost and all other costs necessary to bring it to its present location and condition.

Going concern
The financial statements have been prepared on a going concern basis even though the had LLP made a net loss for the year of £1,367,163 (2023: net loss of £1,171,017).

The members have concluded that the combination of these circumstances represent a material uncertainty that casts significant doubt upon the LLP's ability to continue as a going concern. Nevertheless after making enquiries, and considering the uncertainties described above, the members have a reasonable expectation that the business has adequate resources made available from members to continue in operational existence for the foreseeable future. For these reasons, they continue to adopt the going concern basis in preparing the accounts.

3. EMPLOYEE INFORMATION

The average number of employees during the year was NIL (2023 - NIL).

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
€   
COST
At 1 April 2023 3,637,446
Additions 572,314
At 31 March 2024 4,209,760
DEPRECIATION
At 1 April 2023 429,950
Charge for year 392,360
At 31 March 2024 822,310
NET BOOK VALUE
At 31 March 2024 3,387,450
At 31 March 2023 3,207,496

Onyx Sailing LLP (Registered number: OC436414)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
€    €   
Bank loans and overdrafts 9,898 -
Trade creditors 3,505 -
Other creditors 3,925 3,404
17,328 3,404

6. POST BALANCE SHEET EVENTS

In January 2025, one of the yachts (value €900,000) was sold.

7. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is T J Furuholmen and K L S Furuholmen.