REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 1 September 2023 |
for |
Empire Land And Homes Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 1 September 2023 |
for |
Empire Land And Homes Limited |
Empire Land And Homes Limited (Registered number: 10703543) |
Contents of the Financial Statements |
for the Year Ended 1 September 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Empire Land And Homes Limited |
Company Information |
for the Year Ended 1 September 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
44 The Pantiles |
Tunbridge Wells |
Kent |
TN2 5TN |
Empire Land And Homes Limited (Registered number: 10703543) |
Balance Sheet |
1 September 2023 |
1.9.23 | 1.9.22 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 4 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 | ( |
) | ( |
) |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
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. |
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 |
Empire Land And Homes Limited (Registered number: 10703543) |
Notes to the Financial Statements |
for the Year Ended 1 September 2023 |
1. | STATUTORY INFORMATION |
Empire Land And Homes Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The functional and presentational currency of the company is pounds sterling. Monetary amounts in these financial statements are rounded to the nearest £1, except where otherwise indicated. |
Going concern |
The balance sheet is overdrawn at the period end and the company is currently not trading. The company therefore does not adopt the going concern basis in preparing its financial statements. |
Significant judgements and estimates |
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. |
Financial instruments |
Basic financial assets, including trade and other receivables and cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost, using the effective interest rate method. |
Basic financial liabilities including trade and other payables are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. |
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 balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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. |
Empire Land And Homes Limited (Registered number: 10703543) |
Notes to the Financial Statements - continued |
for the Year Ended 1 September 2023 |
2. | ACCOUNTING POLICIES - continued |
Provision for liabilities |
Provisions are recognised when the company/LLP has a present obligation (legal or constructive) as a result of a past event, it is probable that the company/LLP will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation. |
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation. |
Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value using a pre-tax discount rate. The unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises. |
Dividends |
Dividends are recognised as liabilities once they are no longer at the discretion of the company. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2022 - NIL). |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
1.9.23 | 1.9.22 |
£ | £ |
Other debtors |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
1.9.23 | 1.9.22 |
£ | £ |
Trade creditors |
Other creditors |
6. | RELATED PARTY DISCLOSURES |
As at the balance sheet date £7,339 (2022: £6,394) was owing to key management personnel. Amounts owing to key management personnel are interest free, repayable on demand and included within other creditors falling due within one year. |
As at the balance sheet date £200 (2022: £nil) was owing to a company connected with key management personnel. The loan was interest free, repayable on demand and included in other creditors falling due within one year. |