Tonik Associates Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 06725882

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	5		37,984		44,687

			37,984		44,687
CURRENT ASSETS
Stocks	6	60,400		36,300
Debtors	7	359,841		199,460
Cash at bank and in hand		3,559		69,657

		423,800		305,417
Creditors: Amounts Falling Due Within One Year	8	(392,184 )		(225,649 )

NET CURRENT ASSETS (LIABILITIES)			31,616		79,768

TOTAL ASSETS LESS CURRENT LIABILITIES			69,600		124,455

Creditors: Amounts Falling Due After More Than One Year	9		(40,173 )		(114,301 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(3,438 )		(8,491 )

NET ASSETS			25,989		1,663

CAPITAL AND RESERVES
Called up share capital	10		100		100
Profit and Loss Account			25,889		1,563

SHAREHOLDERS' FUNDS			25,989		1,663

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Tonik Associates Limited

Balance Sheet (continued)

As At 31 December 2024

For the 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.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr G Marshall

Director

18 September 2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Tonik Associates Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06725882 . The registered office is Suite 5,The Willows, Ransom Wood Business Park, Southwell Road West, Rainworth, Mansfield, Nottinghamshire, NG21 0HJ.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to the profit and loss account over its estimated economic life of 5 years.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Fixtures & Fittings

15% reducing balance

2.5. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.6. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2.7. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors.

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Tonik Associates Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

3. Average Number of Employees

Average number of employees, including directors, during the year was: 9 (2023: 9)

4. Intangible Assets

	Goodwill
	£
Cost
As at 1 January 2024	16,500

As at 31 December 2024	16,500

Amortisation
As at 1 January 2024	16,500

As at 31 December 2024	16,500

Net Book Value
As at 31 December 2024	-

As at 1 January 2024	-

5. Tangible Assets

	Fixtures & Fittings
	£
Cost
As at 1 January 2024	84,413

As at 31 December 2024	84,413

Depreciation
As at 1 January 2024	39,726
Provided during the period	6,703

As at 31 December 2024	46,429

Net Book Value
As at 31 December 2024	37,984

As at 1 January 2024	44,687

6. Stocks

	2024	2023
	£	£
Work in progress	60,400	36,300

7. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	274,129	166,959
Prepayments and accrued income	2,224	446
Other debtors	25,155	32,055
Corporation tax recoverable assets	58,333	-

	359,841	199,460

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Tonik Associates Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

8. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	95,079	52,220
Bank loans and overdrafts	74,128	72,028
Corporation tax	-	3,603
Other taxes and social security	56,764	49,945
Other creditors	37,672	29,433
Accruals and deferred income	128,541	18,420

	392,184	225,649

9. Creditors: Amounts Falling Due After More Than One Year

	2024	2023
	£	£
Bank loans	40,173	114,301

10. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	100	100

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