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 the provision of outreach support services, crisis intervention support and alternative education and activities to children, young people and their families. 12700866 2023-08-31 12700866 bus:Director1 2023-08-31 12700866 bus:Director2 2023-08-31 12700866 bus:Director3 2023-08-31 12700866 bus:Director4 2023-08-31 12700866 2022-08-31 12700866 core:CurrentFinancialInstruments 2023-08-31 12700866 core:CurrentFinancialInstruments 2022-08-31 12700866 core:ShareCapital 2023-08-31 12700866 core:ShareCapital 2022-08-31 12700866 core:RetainedEarningsAccumulatedLosses 2023-08-31 12700866 core:RetainedEarningsAccumulatedLosses 2022-08-31 12700866 core:PlantMachinery 2022-08-31 12700866 core:FurnitureFittings 2022-08-31 12700866 core:OfficeEquipment 2022-08-31 12700866 core:ComputerEquipment 2022-08-31 12700866 core:PlantMachinery 2023-08-31 12700866 core:FurnitureFittings 2023-08-31 12700866 core:OfficeEquipment 2023-08-31 12700866 core:ComputerEquipment 2023-08-31 12700866 2022-09-01 2023-08-31 12700866 bus:FilletedAccounts 2022-09-01 2023-08-31 12700866 bus:SmallEntities 2022-09-01 2023-08-31 12700866 bus:AuditExemptWithAccountantsReport 2022-09-01 2023-08-31 12700866 bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 12700866 bus:Director1 2022-09-01 2023-08-31 12700866 bus:Director2 2022-09-01 2023-08-31 12700866 bus:Director3 2022-09-01 2023-08-31 12700866 bus:Director4 2022-09-01 2023-08-31 12700866 core:PlantMachinery 2022-09-01 2023-08-31 12700866 core:FurnitureFittings 2022-09-01 2023-08-31 12700866 core:OfficeEquipment 2022-09-01 2023-08-31 12700866 core:ComputerEquipment 2022-09-01 2023-08-31 12700866 2021-09-01 2022-08-31 iso4217:GBP xbrli:pure

Company No: 12700866 (England and Wales)

EMPOWER OUTREACH LIMITED

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

EMPOWER OUTREACH LIMITED

Unaudited Financial Statements

For the financial year ended 31 August 2023

Contents

EMPOWER OUTREACH LIMITED

BALANCE SHEET

As at 31 August 2023
EMPOWER OUTREACH LIMITED

BALANCE SHEET (continued)

As at 31 August 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 68,913 12,595
68,913 12,595
Current assets
Debtors 4 132,625 253,011
Cash at bank and in hand 228,281 32,314
360,906 285,325
Creditors: amounts falling due within one year 5 ( 236,802) ( 111,047)
Net current assets 124,104 174,278
Total assets less current liabilities 193,017 186,873
Provision for liabilities ( 17,228) ( 3,149)
Net assets 175,789 183,724
Capital and reserves
Called-up share capital 1 1
Profit and loss account 175,788 183,723
Total shareholder's funds 175,789 183,724

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 Outreach Limited (registered number: 12700866) were approved and authorised for issue by the Director on 05 February 2024. They were signed on its behalf by:

J Beviss
Director
EMPOWER OUTREACH LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2023
EMPOWER OUTREACH 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 Outreach 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, 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 £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

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.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery 15 % reducing balance
Fixtures and fittings 25 % reducing balance
Office equipment 33 % reducing balance
Computer equipment 33 % 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.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

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.

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.

Ordinary share capital

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

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 4 4

3. Tangible assets

Plant and machinery Fixtures and fittings Office equipment Computer equipment Total
£ £ £ £ £
Cost
At 01 September 2022 0 6,888 1,087 6,038 14,013
Additions 6,950 20,146 6,281 37,238 70,615
Disposals 0 0 0 ( 258) ( 258)
At 31 August 2023 6,950 27,034 7,368 43,018 84,370
Accumulated depreciation
At 01 September 2022 0 746 99 573 1,418
Charge for the financial year 928 4,092 1,274 7,773 14,067
Disposals 0 0 0 ( 28) ( 28)
At 31 August 2023 928 4,838 1,373 8,318 15,457
Net book value
At 31 August 2023 6,022 22,196 5,995 34,700 68,913
At 31 August 2022 0 6,142 988 5,465 12,595

4. Debtors

2023 2022
£ £
Trade debtors 35,475 108,186
Amounts owed by Group undertakings 30,365 1,308
Other debtors 66,785 143,517
132,625 253,011

5. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 4,012 1,994
Amounts owed to Group undertakings 24,302 84
Accruals 23,530 16,084
Corporation tax 83,464 51,751
Other taxation and social security 101,494 41,134
236,802 111,047

6. Financial commitments

Commitments

2023 2022
£ £
Total future minimum lease payments under non-cancellable operating lease 367,124 0

The total amount of financial commitments not included in the balance sheet is £367,124 (2022 - £Nil).