0 false false false false false false false false false false true false false false false false false No description of principal activity 2023-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 1,054,093 67,408 3,878,499 5,000,000 5,000,000 1,054,093 xbrli:pure xbrli:shares iso4217:GBP 14042375 2023-04-01 2024-03-31 14042375 2024-03-31 14042375 2023-03-31 14042375 2022-04-12 2023-03-31 14042375 2023-03-31 14042375 2022-04-11 14042375 bus:Director1 2023-04-01 2024-03-31 14042375 core:LandBuildings core:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 14042375 core:WithinOneYear 2024-03-31 14042375 core:WithinOneYear 2023-03-31 14042375 core:ShareCapital 2024-03-31 14042375 core:ShareCapital 2023-03-31 14042375 core:OtherReservesSubtotal 2024-03-31 14042375 core:RetainedEarningsAccumulatedLosses 2024-03-31 14042375 core:RetainedEarningsAccumulatedLosses 2023-03-31 14042375 core:HedgingReserve 2024-03-31 14042375 core:LandBuildings core:OwnedOrFreeholdAssets 2024-03-31 14042375 core:LandBuildings core:OwnedOrFreeholdAssets 2023-03-31 14042375 core:LandBuildings core:OwnedOrFreeholdAssets 2023-03-31 14042375 bus:SmallEntities 2023-04-01 2024-03-31 14042375 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 14042375 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 14042375 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 14042375 bus:FullAccounts 2023-04-01 2024-03-31 14042375 core:HedgingReserve 2023-04-01 2024-03-31
COMPANY REGISTRATION NUMBER: 14042375
Tonic Property Holdings Limited
Filleted Unaudited Financial Statements
31 March 2024
Tonic Property Holdings Limited
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
4
5,000,000
1,054,093
Current assets
Cash at bank and in hand
20
1,000
Creditors: amounts falling due within one year
5
1,132,612
1,055,368
------------
------------
Net current liabilities
1,132,592
1,054,368
------------
------------
Total assets less current liabilities
3,867,408
( 275)
Provisions
969,625
------------
----
Net assets/(liabilities)
2,897,783
( 275)
------------
----
Capital and reserves
Called up share capital
100
100
Fair value reserve
2,908,874
Profit and loss account
( 11,191)
( 375)
------------
----
Shareholders funds/(deficit)
2,897,783
( 275)
------------
----
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Tonic Property Holdings Limited
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 6 November 2024 , and are signed on behalf of the board by:
Mrs Jordan-Maria Chadwick
Director
Company registration number: 14042375
Tonic Property Holdings Limited
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Old Mill, 9 Soar Lane, Leicester, LE3 5DE.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure.
Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4. Tangible assets
Investment property
£
Cost or valuation
At 1 April 2023
1,054,093
Additions
67,408
Revaluations
3,878,499
------------
At 31 March 2024
5,000,000
------------
Depreciation
At 1 April 2023 and 31 March 2024
------------
Carrying amount
At 31 March 2024
5,000,000
------------
At 31 March 2023
1,054,093
------------
The investment property was valued by a development property company at £5,000,000 on the basis of market value and the director considers the amount disclosed in the accounts to be the fair value of the property.
5. Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings and undertakings in which the company has a participating interest
1,129,112
1,055,368
Other creditors
3,500
------------
------------
1,132,612
1,055,368
------------
------------
6. Fair value reserve
The following movements on the fair value reserve are included within fair value reserve in the statement of changes in equity:
2024
2023
£
£
Profit and loss - Reclassification to fair value reserve from profit and loss account
2,908,874
------------
----
At end of year
2,908,874
------------
----
The Director consider that the investment property is disclosed at its fair value.
7. Related party transactions
From 1 December 2022 the immediate and ultimate parent company is Franklin Tonic Holdings Limited. It's registered office is The Old Mill, 9 Soar Lane, Leicester LE3 5DE and it's principal place of business is 4 Charter Point Way, Ashby DE La Zouch, Leicestershire. LE65 1NF.