Silverfin false false 31/05/2024 01/06/2023 31/05/2024 Tony Paul Badger 18/05/2020 28 February 2025 The principal activity of the Company during the financial period was that of fencing contractors. The company incorporated on 18 May 2020 and commenced to trade on 23 September 2020. 12608526 2024-05-31 12608526 bus:Director1 2024-05-31 12608526 2023-05-31 12608526 core:CurrentFinancialInstruments 2024-05-31 12608526 core:CurrentFinancialInstruments 2023-05-31 12608526 core:Non-currentFinancialInstruments 2024-05-31 12608526 core:Non-currentFinancialInstruments 2023-05-31 12608526 core:ShareCapital 2024-05-31 12608526 core:ShareCapital 2023-05-31 12608526 core:RetainedEarningsAccumulatedLosses 2024-05-31 12608526 core:RetainedEarningsAccumulatedLosses 2023-05-31 12608526 core:OtherPropertyPlantEquipment 2023-05-31 12608526 core:OtherPropertyPlantEquipment 2024-05-31 12608526 bus:OrdinaryShareClass1 2024-05-31 12608526 2023-06-01 2024-05-31 12608526 bus:FilletedAccounts 2023-06-01 2024-05-31 12608526 bus:SmallEntities 2023-06-01 2024-05-31 12608526 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 12608526 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 12608526 bus:Director1 2023-06-01 2024-05-31 12608526 core:OtherPropertyPlantEquipment 2023-06-01 2024-05-31 12608526 2022-06-01 2023-05-31 12608526 core:Non-currentFinancialInstruments 2023-06-01 2024-05-31 12608526 bus:OrdinaryShareClass1 2023-06-01 2024-05-31 12608526 bus:OrdinaryShareClass1 2022-06-01 2023-05-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 12608526 (England and Wales)

TONIC SERVICES LTD

Unaudited Financial Statements
For the financial year ended 31 May 2024
Pages for filing with the registrar

TONIC SERVICES LTD

Unaudited Financial Statements

For the financial year ended 31 May 2024

Contents

TONIC SERVICES LTD

BALANCE SHEET

As at 31 May 2024
TONIC SERVICES LTD

BALANCE SHEET (continued)

As at 31 May 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 4 32,726 875
32,726 875
Current assets
Debtors 5 1,081 4,730
Cash at bank and in hand 16,809 26,066
17,890 30,796
Creditors: amounts falling due within one year 6 ( 28,223) ( 30,191)
Net current (liabilities)/assets (10,333) 605
Total assets less current liabilities 22,393 1,480
Creditors: amounts falling due after more than one year 7 ( 25,196) 0
Net (liabilities)/assets ( 2,803) 1,480
Capital and reserves
Called-up share capital 8 1 1
Profit and loss account ( 2,804 ) 1,479
Total shareholder's (deficit)/funds ( 2,803) 1,480

For the financial year ending 31 May 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Tonic Services Ltd (registered number: 12608526) were approved and authorised for issue by the Director on 28 February 2025. They were signed on its behalf by:

Tony Paul Badger
Director
TONIC SERVICES LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2024
TONIC SERVICES LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Tonic Services Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 7 Empress Road, Aylesford, ME20 7FX, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

After reviewing the company's forecasts and projections, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Turnover

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 and after eliminating sales within the company.

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.

Taxation

Current tax
The tax expense for the period comprises current 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 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.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Trade and other debtors

Trade and other 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 transaction.

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 and other creditors

Trade and other creditors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, except where the effect of discounting would be immaterial. In such cases creditors are stated at transaction price.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Financial assets are classified as financial assets at fair value through profit or loss, loans and debtors, held-to-maturity investments, available-for-sale financial assets, or as derivatives designated as hedging instruments in an effective hedge, as appropriate. The company determines the classification of its financial assets at initial recognition.

Financial liabilities are classified as financial liabilities at fair value through profit and loss, loans and borrowings, trade and other creditors, or as derivatives designated as hedging instruments in an effective hedge, as appropriate. The company determines the classification of its financial liabilities at initial recognition.

Recognition and measurement
All financial instruments are recognised initially at fair value plus transaction costs. Thereafter financial instruments are stated at amortised cost using the effective interest rate method (less impairment where appropriate) unless the effect of discounting would be immaterial in which case they are stated at cost (less impairment where appropriate). The exception to this are those financial instruments where it is a requirement to continue recording them at fair value through profit and loss.

Impairment
Financial assets are assessed for indicators of impairment at the end of each reporting period. Financial assets are considered to be impaired when there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows of the investment have been affected.

Ordinary 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.

2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the company's accounting policies management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historic experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

3. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

4. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 June 2023 875 875
Additions 40,032 40,032
At 31 May 2024 40,907 40,907
Accumulated depreciation
At 01 June 2023 0 0
Charge for the financial year 8,181 8,181
At 31 May 2024 8,181 8,181
Net book value
At 31 May 2024 32,726 32,726
At 31 May 2023 875 875

5. Debtors

2024 2023
£ £
Trade debtors 1,081 1,405
Prepayments 0 3,325
1,081 4,730

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 9,317 5,134
Taxation and social security 117 3,835
Obligations under finance leases and hire purchase contracts 7,200 0
Other creditors 11,589 21,222
28,223 30,191

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Obligations under finance leases and hire purchase contracts 14,563 0
Other creditors 10,633 0
25,196 0

There are no amounts included above in respect of which any security has been given by the small entity.

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
1 Ordinary share of £ 1.00 (2023: 1 share of £ 0.96 ) 1.00 0.96