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REGISTERED NUMBER: 10611479 (England and Wales)











Unaudited Financial Statements

for the Year Ended 28 February 2023

for

Empire Partnership Limited

Empire Partnership Limited (Registered number: 10611479)






Contents of the Financial Statements
for the Year Ended 28 February 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Empire Partnership Limited

Company Information
for the Year Ended 28 February 2023







DIRECTORS: A G Demetriou
J G Grainger



REGISTERED OFFICE: Crane Court
302 London Road
Ipswich
Suffolk
IP2 0AJ



REGISTERED NUMBER: 10611479 (England and Wales)



ACCOUNTANTS: Ballams Chartered Accountants
Crane Court
302 London Road
Ipswich
Suffolk
IP2 0AJ



BANKERS: Santander UK Plc
Santander UK Bridle Road
Bootle
Merseyside
L30 4GB

Empire Partnership Limited (Registered number: 10611479)

Statement of Financial Position
28 February 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 7,464 4,252

CURRENT ASSETS
Debtors 5 97,566 92,623
Cash at bank 89,505 110,339
187,071 202,962
CREDITORS
Amounts falling due within one year 6 51,964 73,922
NET CURRENT ASSETS 135,107 129,040
TOTAL ASSETS LESS CURRENT LIABILITIES 142,571 133,292

CREDITORS
Amounts falling due after more than one
year

7

(40,081

)

(46,410

)

PROVISIONS FOR LIABILITIES 10 (1,194 ) (808 )
NET ASSETS 101,296 86,074

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 101,196 85,974
SHAREHOLDERS' FUNDS 101,296 86,074

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Empire Partnership Limited (Registered number: 10611479)

Statement of Financial Position - continued
28 February 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 June 2023 and were signed on its behalf by:




A G Demetriou - Director



J G Grainger - Director


Empire Partnership Limited (Registered number: 10611479)

Notes to the Financial Statements
for the Year Ended 28 February 2023

1. STATUTORY INFORMATION

Empire Partnership Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

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

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost
Computer equipment - 33% on cost

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable and loans with related parties.

Debt instruments that are payable or receivable within one year, such as trade payables or receivables, are measured at the undiscounted amount of the cash or other consideration expected to be paid or received. Debt instruments that are repayable or receivable after one year are initially measured at the present value of the future cash flows and subsequently at amortised cost using the effective interest method.

Financial assets that are measured at cost and amortised cost are assessed at the end of each financial year for evidence of impairment. If objective evidence of impairment is found an impairment loss is recognised in the Income Statement.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.


Empire Partnership Limited (Registered number: 10611479)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Government grants
Grants are accounted for using the accrual model.

Grants relating to revenue are recognised in the Statement of Income and Retained Earnings in the same period as the related costs for which the grant is intended to compensate. Where there are no related costs the grant is recognised in the period in which it becomes receivable.

Grants relating to assets are recognised in the Statement of Income and Retained Earnings over the expected useful life of the asset.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 March 2022 870 4,445 5,315
Additions 1,661 4,120 5,781
At 28 February 2023 2,531 8,565 11,096
DEPRECIATION
At 1 March 2022 39 1,024 1,063
Charge for year 268 2,301 2,569
At 28 February 2023 307 3,325 3,632
NET BOOK VALUE
At 28 February 2023 2,224 5,240 7,464
At 28 February 2022 831 3,421 4,252

Empire Partnership Limited (Registered number: 10611479)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 24,600 40,545
Amounts owed by group undertakings 65,000 50,000
Other debtors 7,966 2,078
97,566 92,623

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 8) 6,329 3,799
Trade creditors 838 102
Taxation and social security 39,496 67,744
Other creditors 5,301 2,277
51,964 73,922

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans (see note 8) 40,081 46,410

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by
instalments 14,766 21,095
14,766 21,095

8. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank loans 6,329 3,799

Amounts falling due between one and two years:
Bank loans - 1-2 years 6,329 6,329

Amounts falling due between two and five years:
Bank loans - 2-5 years 18,986 18,986

Amounts falling due in more than five years:

Empire Partnership Limited (Registered number: 10611479)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

8. LOANS - continued
2023 2022
£    £   
Amounts falling due in more than five years:
Repayable by instalments
Bank loans more 5 yr by
instalments 14,766 21,095
14,766 21,095

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 46,410 50,209

The £50,000 relates to a Bounce Back loan guaranteed by the Government.

10. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Accelerated capital allowances 1,194 808

Deferred
tax
£   
Balance at 1 March 2022 808
Charge to Statement of Income and Retained Earnings during year 386
Balance at 28 February 2023 1,194

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary 1 100 100

Empire Partnership Limited (Registered number: 10611479)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 28 February 2023 and 28 February 2022:

2023 2022
£    £   
A G Demetriou
Balance outstanding at start of year (2,079 ) (12,079 )
Amounts advanced (12,841 ) -
Amounts repaid 6,953 10,000
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (7,967 ) (2,079 )

J G Grainger
Balance outstanding at start of year 446 (9,554 )
Amounts advanced 2,650 -
Amounts repaid - 10,000
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 3,096 446

The overdrawn director's loan account is an interest free balance that is repayable on demand. The balance was cleared within 9 months of the period end.