Registration number: 12568881

Onboard Sportswear Ltd

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 8

Onboard Sportswear Ltd

Company Information

Directors

Mr C B Davies Mr C Morris

Registered office

Unit 3 Parc Y Bont Brynmenyn Industrial Estate Brynmenyn Bridgend CF32 9TD

Accountants

W J James & Co Bishop House 10 Wheat Street Brecon Powys LD3 7DG

Onboard Sportswear Ltd

(Registration number: 12568881)
Balance Sheet as at 30 April 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	7,439	9,918
Investments	5	800	-
		8,239	9,918
Current assets
Debtors	6	18,918	3,889
Cash at bank and in hand		23,197	84,013
		42,115	87,902
Creditors: Amounts falling due within one year	7	(87,327)	(95,403)
Net current liabilities		(45,212)	(7,501)
Total assets less current liabilities		(36,973)	2,417
Provisions for liabilities		(1,413)	(1,884)
Net (liabilities)/assets		(38,386)	533
Capital and reserves
Called up share capital		200	200
Retained earnings		(38,586)	333
Shareholders' (deficit)/funds		(38,386)	533

For the financial year ending 30 April 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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 Directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 21 April 2025 and signed on its behalf by:
 

Onboard Sportswear Ltd

(Registration number: 12568881)
Balance Sheet as at 30 April 2025

......................................... Mr C B Davies Director

......................................... Mr C Morris Director

Onboard Sportswear Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

1	General information

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

The address of its registered office is:
Unit 3
Parc Y Bont Brynmenyn Industrial Estate
Brynmenyn
Bridgend
CF32 9TD

These financial statements were authorised for issue by the Board on 21 April 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 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.

Going concern

The company liabilities exceed its assets at 30 April 2025. The directors acknowledge that unlawful distributions have been made during the year, as there were insufficient profits available The directors have given their undertaking that these will be repayable to the extent of the balance sheet deficit upon demand. Also, they have given their undertaking that the balances on their directors current accounts will not be repayable to the extent of the balance sheet deficit. Accordingly the accounts have been prepared on a going concern basis.

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.

Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the conditions will be met and the fund received.

Onboard Sportswear Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

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 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and machinery	25% on reducing balance
Office equipment	25% on reducing balance

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Onboard Sportswear Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

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.

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.

Dividends

Dividend distribution to the Company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 7 (2024 - 6).

Onboard Sportswear Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

4	Tangible assets

	Plant and machinery £	Office equipment £	Total £
Cost or valuation
At 1 May 2024	8,507	8,467	16,974
At 30 April 2025	8,507	8,467	16,974
Depreciation
At 1 May 2024	3,481	3,575	7,056
Charge for the year	1,256	1,223	2,479
At 30 April 2025	4,737	4,798	9,535
Carrying amount
At 30 April 2025	3,770	3,669	7,439
At 30 April 2024	5,026	4,892	9,918

5	Investments

	2025 £	2024 £
Investments in subsidiaries	800	-