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Registered number: 09421716
ON OFF EUROPE LTD
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE PERIOD ENDED 31 MARCH 2025
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ON OFF EUROPE LTD
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF ON OFF EUROPE LTD
FOR THE PERIOD ENDED 31 MARCH 2025
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of ON OFF EUROPE LTD for the period ended 31 March 2025 which comprise the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.
This report is made solely to the director of ON OFF EUROPE LTD in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of ON OFF EUROPE LTD and state those matters that we have agreed to state to the director of ON OFF EUROPE LTD in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than ON OFF EUROPE LTD and its director for our work or for this report.
It is your duty to ensure that ON OFF EUROPE LTD has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of ON OFF EUROPE LTD. You consider that ON OFF EUROPE LTD is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or review of the financial statements of ON OFF EUROPE LTD. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
The Woodstock Accountancy Practice Limited
3a Market Place
Woodstock
OX20 1SY
22 December 2025
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ON OFF EUROPE LTD
REGISTERED NUMBER: 09421716
BALANCE SHEET
AS AT 31 MARCH 2025
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Debtors: amounts falling due after more than one year
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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ON OFF EUROPE LTD
REGISTERED NUMBER: 09421716
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2025
The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 22 December 2025.
The notes on pages 4 to 9 form part of these financial statements.
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ON OFF EUROPE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2025
On Off Europe Ltd, company registration number; 09421716. A company limited by shares and incorporated in England and Wales
Registered office; Unit 1 Kings Meadow, Osney Mead, Oxford, Oxfordshire, OX2 0DP.
The company's principal activity is that of making and holding invesments.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the requirements and the Companies Act 2006 and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liabilities Partnerships'. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The following principal accounting policies have been applied:
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Sale of goods
Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
∙the Company has transferred the significant risks and rewards of ownership to the buyer;
∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
∙the amount of revenue can be measured reliably;
∙it is probable that the Company will receive the consideration due under the transaction; and
∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.
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Operating leases: the Company as lessee
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Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.
Interest income is recognised in profit or loss using the effective interest method.
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ON OFF EUROPE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2025
2.Accounting policies (continued)
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
All borrowing costs are recognised in profit or loss in the period in which they are incurred.
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
Investments in subsidiaries are measured at cost less accumulated impairment.
Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
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ON OFF EUROPE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2025
2.Accounting policies (continued)
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
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The average monthly number of employees, including directors, during the period was 1 (2024 - 1).
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Investments in subsidiary companies
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Due after more than one year
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Amounts owed by group undertakings
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Due from participating interests
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Amounts owed by joint ventures and associated undertakings
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ON OFF EUROPE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2025
5.Debtors (continued)
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Cash and cash equivalents
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Creditors: Amounts falling due within one year
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Other taxation and social security
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Creditors: Amounts falling due after more than one year
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ON OFF EUROPE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2025
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Analysis of the maturity of loans is given below:
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Amounts falling due within one year
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Amounts falling due 2-5 years
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Amounts falling due after more than 5 years
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ON OFF EUROPE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2025
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Related party transactions
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During the period the company provided and received goods and services on normal commercial terms to its subsidiary and associate undertakings as follows;
NBS Europe Limited
Infinity Technology Europe S.A
Infinity Technology Europe Limited
Infinity Technology Holdings Limited
Amounts outstanding at the balance sheet date for these transactions are disclosed within Debtors due within one year; Trade Debtors and Creditors: Amounts falling due within one year; Trade creditors.
The company has advanced funds to its subsidary NBS Europe Ltd and to Infinity Technology Holdings Limited, a company in which it has a significant shareholding.
The amounts are interest free and unsecured, details of the balance are set out below and disclosed
within Debtors due within one year; Amounts owed by group undertakings.
The company has advanced funds from the following companies incorporated in Belgium;
NBS Sprl; a subsidiary of the company
Anchor 119 Sprl; a company in which the Director, Mr K Sakai has a significant interest
The amounts are advanced on normal comercial terms and disclosed within Debtors:Due within one year.
The director of the company, Mr K Sakai, has advanced funds to the company, interest free and
unsecured. Details of the balance are set out below and disclosed within Other Creditors; Amounts
falling due within one year.
During the period the company paid net dividends of £79,041 (2024; £179,041) to Mr K Sakai.
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Infinity Technology Holdings Limited
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