Silverfin false false 31/08/2023 01/09/2022 31/08/2023 C Beviss 26/06/2020 J Beviss 26/06/2020 J Mcveigh 26/06/2020 J Watt 26/06/2020 05 February 2024 The principal activity of the company during the financial year was that of a holding company. 12698719 2023-08-31 12698719 bus:Director1 2023-08-31 12698719 bus:Director2 2023-08-31 12698719 bus:Director3 2023-08-31 12698719 bus:Director4 2023-08-31 12698719 2022-08-31 12698719 core:CurrentFinancialInstruments 2023-08-31 12698719 core:CurrentFinancialInstruments 2022-08-31 12698719 core:ShareCapital 2023-08-31 12698719 core:ShareCapital 2022-08-31 12698719 core:RetainedEarningsAccumulatedLosses 2023-08-31 12698719 core:RetainedEarningsAccumulatedLosses 2022-08-31 12698719 2022-09-01 2023-08-31 12698719 bus:FilletedAccounts 2022-09-01 2023-08-31 12698719 bus:SmallEntities 2022-09-01 2023-08-31 12698719 bus:AuditExemptWithAccountantsReport 2022-09-01 2023-08-31 12698719 bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 12698719 bus:Director1 2022-09-01 2023-08-31 12698719 bus:Director2 2022-09-01 2023-08-31 12698719 bus:Director3 2022-09-01 2023-08-31 12698719 bus:Director4 2022-09-01 2023-08-31 12698719 2021-09-01 2022-08-31 iso4217:GBP xbrli:pure

Company No: 12698719 (England and Wales)

EMPOWER FAMILY GROUP LIMITED

Unaudited Financial Statements
For the financial year ended 31 August 2023
Pages for filing with the registrar

EMPOWER FAMILY GROUP LIMITED

Unaudited Financial Statements

For the financial year ended 31 August 2023

Contents

EMPOWER FAMILY GROUP LIMITED

BALANCE SHEET

As at 31 August 2023
EMPOWER FAMILY GROUP LIMITED

BALANCE SHEET (continued)

As at 31 August 2023
2023 2022
£ £
Fixed assets
Investments 12 12
12 12
Current assets
Debtors 3 637,093 436,909
Cash at bank and in hand 151,049 324,565
788,142 761,474
Creditors: amounts falling due within one year 4 ( 100,792) ( 62,856)
Net current assets 687,350 698,618
Total assets less current liabilities 687,362 698,630
Net assets 687,362 698,630
Capital and reserves
Called-up share capital 12 12
Profit and loss account 687,350 698,618
Total shareholders' funds 687,362 698,630

For the financial year ending 31 August 2023 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 Empower Family Group Limited (registered number: 12698719) were approved and authorised for issue by the Director on 05 February 2024. They were signed on its behalf by:

J Beviss
Director
EMPOWER FAMILY GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2023
EMPOWER FAMILY GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2023
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

Empower Family Group Limited (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 Unit 2 Prockters Farm Offices, West Monkton, Taunton, TA2 8QN, England, 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 £.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.

Turnover

Turnover comprises management charges received from group undertakings.

Dividend income

Dividend income from investments is recognised when the shareholders' rights to receive payment have been established (provided that it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably).

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, 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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

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, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

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.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 82 35

3. Debtors

2023 2022
£ £
Amounts owed by Group undertakings 608,264 423,003
Prepayments 27,868 13,901
Other debtors 961 5
637,093 436,909

4. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 0 16,055
Amounts owed to Group undertakings 90,621 0
Other creditors 10,171 46,801
100,792 62,856