Silverfin false false 31/12/2024 01/01/2024 31/12/2024 C J Ellis 01/08/2020 B M Julius 16/05/2019 G Julius 12/03/2019 13 May 2025 The principal activity of the Company during the financial year was that of providing bar facilities for events. 11875762 2024-12-31 11875762 bus:Director1 2024-12-31 11875762 bus:Director2 2024-12-31 11875762 bus:Director3 2024-12-31 11875762 2023-12-31 11875762 core:CurrentFinancialInstruments 2024-12-31 11875762 core:CurrentFinancialInstruments 2023-12-31 11875762 core:Non-currentFinancialInstruments 2024-12-31 11875762 core:Non-currentFinancialInstruments 2023-12-31 11875762 core:ShareCapital 2024-12-31 11875762 core:ShareCapital 2023-12-31 11875762 core:RetainedEarningsAccumulatedLosses 2024-12-31 11875762 core:RetainedEarningsAccumulatedLosses 2023-12-31 11875762 core:LeaseholdImprovements 2023-12-31 11875762 core:PlantMachinery 2023-12-31 11875762 core:Vehicles 2023-12-31 11875762 core:FurnitureFittings 2023-12-31 11875762 core:OfficeEquipment 2023-12-31 11875762 core:LeaseholdImprovements 2024-12-31 11875762 core:PlantMachinery 2024-12-31 11875762 core:Vehicles 2024-12-31 11875762 core:FurnitureFittings 2024-12-31 11875762 core:OfficeEquipment 2024-12-31 11875762 bus:OrdinaryShareClass1 2024-12-31 11875762 bus:OrdinaryShareClass2 2024-12-31 11875762 2024-01-01 2024-12-31 11875762 bus:FilletedAccounts 2024-01-01 2024-12-31 11875762 bus:SmallEntities 2024-01-01 2024-12-31 11875762 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 11875762 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 11875762 bus:Director1 2024-01-01 2024-12-31 11875762 bus:Director2 2024-01-01 2024-12-31 11875762 bus:Director3 2024-01-01 2024-12-31 11875762 core:PlantMachinery 2024-01-01 2024-12-31 11875762 core:Vehicles 2024-01-01 2024-12-31 11875762 core:FurnitureFittings 2024-01-01 2024-12-31 11875762 core:OfficeEquipment 2024-01-01 2024-12-31 11875762 2023-01-01 2023-12-31 11875762 core:LeaseholdImprovements 2024-01-01 2024-12-31 11875762 core:CurrentFinancialInstruments 2024-01-01 2024-12-31 11875762 core:Non-currentFinancialInstruments 2024-01-01 2024-12-31 11875762 bus:OrdinaryShareClass1 2024-01-01 2024-12-31 11875762 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 11875762 bus:OrdinaryShareClass2 2024-01-01 2024-12-31 11875762 bus:OrdinaryShareClass2 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 11875762 (England and Wales)

ONYX BARS LTD

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

ONYX BARS LTD

Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

ONYX BARS LTD

BALANCE SHEET

As at 31 December 2024
ONYX BARS LTD

BALANCE SHEET (continued)

As at 31 December 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 265,654 296,204
265,654 296,204
Current assets
Stocks 4 0 49,424
Debtors 5 146,462 53,802
Cash at bank and in hand 3 513
146,465 103,739
Creditors: amounts falling due within one year 6 ( 446,537) ( 388,528)
Net current liabilities (300,072) (284,789)
Total assets less current liabilities (34,418) 11,415
Creditors: amounts falling due after more than one year 7 ( 89,389) ( 89,478)
Net liabilities ( 123,807) ( 78,063)
Capital and reserves
Called-up share capital 8 100 100
Profit and loss account ( 123,907 ) ( 78,163 )
Total shareholders' deficit ( 123,807) ( 78,063)

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

Directors' responsibilities:

The financial statements of Onyx Bars Ltd (registered number: 11875762) were approved and authorised for issue by the Board of Directors on 13 May 2025. They were signed on its behalf by:

G Julius
Director
ONYX BARS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
ONYX BARS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 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

Onyx Bars 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 Towngate House, 2-8 Parkstone Road, Poole, BH15 2PW, United Kingdom. The principal place of business is B1, Ricardo Way, Ampress Park, Lymington, SO41 8JW.

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

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.
Revenue from services is recognised as they are delivered.

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 the Citroen H vans included in plant and machinery, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis or straight line basis over its expected useful life, as follows:

Leasehold improvements depreciated over the life of the lease
Plant and machinery 10 - 20 % reducing balance
Vehicles 15 % reducing balance
Fixtures and fittings 20 % reducing balance
Office equipment 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.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity.

Work in progress is calculated on a mix of both direct costs and an appropriate proportion of salaries relating to work in progress at the Balance Sheet date.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. 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 and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 3 36

3. Tangible assets

Leasehold improve-
ments
Plant and machinery Vehicles Fixtures and fittings Office equipment Total
£ £ £ £ £ £
Cost
At 01 January 2024 13,516 269,724 54,317 9,030 2,856 349,443
Additions 0 7,875 0 0 0 7,875
Disposals 0 0 ( 9,177) 0 0 ( 9,177)
At 31 December 2024 13,516 277,599 45,140 9,030 2,856 348,141
Accumulated depreciation
At 01 January 2024 3,604 39,777 5,432 3,338 1,088 53,239
Charge for the financial year 2,317 19,805 6,300 1,488 462 30,372
Disposals 0 0 ( 1,124) 0 0 ( 1,124)
At 31 December 2024 5,921 59,582 10,608 4,826 1,550 82,487
Net book value
At 31 December 2024 7,595 218,017 34,532 4,204 1,306 265,654
At 31 December 2023 9,912 229,947 48,885 5,692 1,768 296,204

4. Stocks

2024 2023
£ £
Stocks 0 10,424
Work in progress 0 39,000
0 49,424

5. Debtors

2024 2023
£ £
Trade debtors 0 28,480
Amounts owed by Group undertakings 136,919 18,865
Other debtors 9,543 6,457
146,462 53,802

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans and overdrafts 22,168 16,406
Trade creditors 1,577 51,969
Amounts owed to Group undertakings 344,897 189,226
Other loans 15,056 63,193
Accruals 1,157 5,800
Other taxation and social security 0 2,071
Obligations under finance leases and hire purchase contracts 61,682 58,495
Other creditors 0 1,368
446,537 388,528

Hire purchase contracts are secured by the assets to which they are related.

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

2024 2023
£ £
Bank loans 36,854 32,493
Obligations under finance leases and hire purchase contracts 52,535 56,985
89,389 89,478

Hire purchase contracts are secured by the assets to which they are related.

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
660 Ordinary shares of £ 0.10 each 66 66
340 Ordinary A shares of £ 0.10 each 34 34
100 100

9. Financial commitments

Commitments

Capital commitments are as follows:

2024 2023
£ £
Contracted for but not provided for:
Finance leases entered into 17,637 34,915

10. Ultimate controlling party

Parent Company:

Creating the Magic Limited
Towngate House, 2-8 Parkstone Road, Poole, Dorset, United Kingdom, BH15 2PW