IRIS Accounts Productionv24.1.0.57612658664Board of Directors30.9.231.10.2230.9.2330.9.23a holding company.00truefalsetruefalsefalsefalsetruefalse iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure126586642022-09-30126586642023-09-30126586642022-10-012023-09-30126586642021-09-30126586642021-10-012022-09-30126586642022-09-3012658664ns16:EnglandWales2022-10-012023-09-3012658664ns15:PoundSterling2022-10-012023-09-3012658664ns11:Director12022-10-012023-09-3012658664ns11:Consolidated2023-09-3012658664ns11:ConsolidatedGroupCompanyAccounts2022-10-012023-09-3012658664ns11:PrivateLimitedCompanyLtd2022-10-012023-09-3012658664ns11:SmallEntitiesns11:Consolidated2022-10-012023-09-3012658664ns11:AuditExempt-NoAccountantsReportns11:Consolidated2022-10-012023-09-3012658664ns11:SmallCompaniesRegimeForDirectorsReport2022-10-012023-09-3012658664ns11:SmallCompaniesRegimeForAccounts2022-10-012023-09-3012658664ns11:Consolidatedns11:SmallCompaniesRegimeForDirectorsReport2022-10-012023-09-3012658664ns11:SmallCompaniesRegimeForAccountsns11:Consolidated2022-10-012023-09-3012658664ns11:FullAccounts2022-10-012023-09-301265866412022-10-012023-09-3012658664ns11:Consolidated2022-10-012023-09-3012658664ns11:Director22022-10-012023-09-3012658664ns11:Director62022-10-012023-09-3012658664ns11:Director72022-10-012023-09-3012658664ns11:Director82022-10-012023-09-3012658664ns11:RegisteredOffice2022-10-012023-09-3012658664ns11:Director42022-10-012023-09-3012658664ns11:Director52022-10-012023-09-3012658664ns11:Director32022-10-012023-09-3012658664ns6:CurrentFinancialInstruments2023-09-3012658664ns6:CurrentFinancialInstruments2022-09-3012658664ns6:ShareCapital2023-09-3012658664ns6:ShareCapital2022-09-3012658664ns6:RetainedEarningsAccumulatedLosses2023-09-3012658664ns6:RetainedEarningsAccumulatedLosses2022-09-3012658664ns6:NetGoodwill2022-10-012023-09-3012658664ns6:IntangibleAssetsOtherThanGoodwill2022-10-012023-09-3012658664ns6:PatentsTrademarksLicencesConcessionsSimilar2022-10-012023-09-3012658664ns6:DevelopmentCostsCapitalisedDevelopmentExpenditure2022-10-012023-09-3012658664ns6:ComputerSoftware2022-10-012023-09-3012658664ns6:PlantMachinery2022-10-012023-09-3012658664ns6:CostValuation2022-09-3012658664ns6:WithinOneYearns6:CurrentFinancialInstruments2023-09-3012658664ns6:WithinOneYearns6:CurrentFinancialInstruments2022-09-30

REGISTERED NUMBER: 12658664 (England and Wales)
















Report of the Directors and

Unaudited Consolidated Financial Statements

for the Year Ended 30 September 2023

for


Empowered Brands Limited


Empowered Brands Limited (Registered number: 12658664)







Contents of the Consolidated Financial Statements

for the Year Ended 30 September 2023





Page



Company Information  

1



Report of the Directors  

2



Consolidated Balance Sheet  

3



Company Balance Sheet  

5



Notes to the Consolidated Financial Statements

6




Empowered Brands Limited


Company Information

for the Year Ended 30 September 2023









DIRECTORS:

P J Croney


P Nicholls


M Pinner


Mrs S T Peterson


J R Pierce







REGISTERED OFFICE:

Aurora House, Deltic Avenue


Rooksley


Milton Keynes


MK13 8LW







REGISTERED NUMBER:

12658664 (England and Wales)







ACCOUNTANTS:

M Chilton Accountancy Services Limited


16 Reed Mace Drive


Bromsgrove


Worcestershire


B61 0UJ


Empowered Brands Limited (Registered number: 12658664)


Report of the Directors

for the Year Ended 30 September 2023


The directors present their report with the financial statements of the company and the group for the year ended 30 September 2023.


DIRECTORS

The directors shown below have held office during the whole of the period from 1 October 2022 to the date of this report.


P J Croney

P Nicholls


Other changes in directors holding office are as follows:


P J Hall - resigned 30 April 2023

J A Jempson - resigned 21 September 2023

M Pinner - appointed 27 April 2023


Mrs S T Peterson and J R Pierce were appointed as directors after 30 September 2023 but prior to the date of this report.


Ms E F Gonsalves ceased to be a director after 30 September 2023 but prior to the date of this report.


This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.


ON BEHALF OF THE BOARD:






M Pinner - Director



9 April 2024


Empowered Brands Limited (Registered number: 12658664)


Consolidated Balance Sheet

30 September 2023



30.9.23

30.9.22



Notes

£   

£   

£   

£   


FIXED ASSETS

Intangible assets

7

5,894,610


6,434,464



Tangible assets

8

30,840


59,943



Investments

9

36,536


36,536



5,961,986


6,530,943




CURRENT ASSETS

Stocks

2,753


4,610



Debtors

10

1,974,029


1,689,327



Cash at bank

173,954


28,147



2,150,736


1,722,084



CREDITORS

Amounts falling due within one year

11

2,629,306


2,795,164



NET CURRENT LIABILITIES

(478,570

)

(1,073,080

)


TOTAL ASSETS LESS CURRENT

LIABILITIES

5,483,416


5,457,863




CREDITORS

Amounts falling due after more than one

year

12

11,313,473


10,408,170



NET LIABILITIES

(5,830,057

)

(4,950,307

)



CAPITAL AND RESERVES

Called up share capital

204


203



Retained earnings

(5,830,261

)

(4,950,510

)


(5,830,057

)

(4,950,307

)



The company and the group are entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.


The members have not required the company and the group to obtain an audit of its financial statements for the year ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006.


The directors acknowledge their responsibilities for:

(a)

ensuring that the group 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 and the group as at the end of each financial year and of the group's 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 and the group.


Empowered Brands Limited (Registered number: 12658664)


Consolidated Balance Sheet - continued

30 September 2023



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


The financial statements were approved by the Board of Directors and authorised for issue on 9 April 2024 and were signed on its behalf by:






M Pinner - Director



Empowered Brands Limited (Registered number: 12658664)


Company Balance Sheet

30 September 2023



30.9.23

30.9.22



Notes

£   

£   

£   

£   


FIXED ASSETS

Intangible assets

7

-


-



Tangible assets

8

-


-



Investments

9

2


2



2


2




CURRENT ASSETS

Debtors

10

301,442


369,372




CREDITORS

Amounts falling due within one year

11

288,002


267,830



NET CURRENT ASSETS

13,440


101,542



TOTAL ASSETS LESS CURRENT

LIABILITIES

13,442


101,544




CAPITAL AND RESERVES

Called up share capital

100


100



Retained earnings

13,342


101,444



13,442


101,544




Company's (loss)/profit for the financial year

(88,102

)

1,590




The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.  


The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

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


The financial statements were approved by the Board of Directors and authorised for issue on 9 April 2024 and were signed on its behalf by:




M Pinner - Director



Empowered Brands Limited (Registered number: 12658664)


Notes to the Consolidated Financial Statements

for the Year Ended 30 September 2023


1.

STATUTORY INFORMATION



Empowered Brands 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 General Information page.


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.


Goodwill


Goodwill, being the amount paid in connection with the acquisition of a business in 2020, is being amortised evenly over its estimated useful life of fifteen years.  



Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.


Patents and licences are being amortised evenly over their estimated useful life of three years.



Development costs are being amortised evenly over their estimated useful life of three years.



Computer software is being amortised evenly over its estimated useful life of three years.



Tangible fixed assets


Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.  


Plant and machinery etc

-  

33% on cost and at varying rates on cost



Investments in subsidiaries


Investments in subsidiary undertakings are recognised at cost.



Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.


Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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.


Empowered Brands Limited (Registered number: 12658664)


Notes to the Consolidated Financial Statements - continued

for the Year Ended 30 September 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 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.


Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.


Pension costs and other post-retirement benefits


The group operates a defined contribution pension scheme.  Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.


3.

EMPLOYEES AND DIRECTORS



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



The average number of employees by undertakings that were proportionately consolidated during the year was 21 (2022 - 28 ) .


4.

OPERATING PROFIT/(LOSS)



The operating profit (2022 - operating loss) is stated after charging:



30.9.23


30.9.22

£   

£   



Depreciation - owned assets

31,290


68,684




Goodwill amortisation

479,708


472,596




Patents and licences amortisation

49,899


20,028




Development costs amortisation

28,432


38,292




Computer software amortisation

155,972


108,766




5.

EXCEPTIONAL ITEMS


30.9.23


30.9.22

£   

£   



Exceptional items

(20,666

)

(950

)



6.

INDIVIDUAL INCOME STATEMENT



As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.



Empowered Brands Limited (Registered number: 12658664)


Notes to the Consolidated Financial Statements - continued

for the Year Ended 30 September 2023


7.

INTANGIBLE FIXED ASSETS



Group


Other



intangible



Goodwill


assets


Totals

£   

£   

£   



COST


At 1 October 2022

7,088,945


746,892


7,835,837




Additions

-


98,957


98,957




Disposals

-


(129,546

)

(129,546

)



Reclassification/transfer

-


141,000


141,000




At 30 September 2023

7,088,945


857,303


7,946,248




AMORTISATION


At 1 October 2022

1,095,613


305,760


1,401,373




Charge for year

479,708


234,303


714,011




Eliminated on disposal

-


(129,546

)

(129,546

)



Reclassification/transfer

-


65,800


65,800




At 30 September 2023

1,575,321


476,317


2,051,638




NET BOOK VALUE


At 30 September 2023

5,513,624


380,986


5,894,610




At 30 September 2022

5,993,332


441,132


6,434,464




8.

TANGIBLE FIXED ASSETS



Group


Plant and



Land and


machinery



buildings


etc


Totals

£   

£   

£   



COST


At 1 October 2022

161,468


56,210


217,678




Additions

-


10,139


10,139




Disposals

-


(7,952

)

(7,952

)



At 30 September 2023

161,468


58,397


219,865




DEPRECIATION


At 1 October 2022

142,558


15,177


157,735




Charge for year

18,910


12,380


31,290




At 30 September 2023

161,468


27,557


189,025




NET BOOK VALUE


At 30 September 2023

-


30,840


30,840




At 30 September 2022

18,910


41,033


59,943




Empowered Brands Limited (Registered number: 12658664)


Notes to the Consolidated Financial Statements - continued

for the Year Ended 30 September 2023


9.

FIXED ASSET INVESTMENTS



Group


Company



30.9.23


30.9.22


30.9.23


30.9.22


£   

£   

£   

£   



Shares in group undertakings

104


104


2


2




Other investments not loans

36,432


36,432


-


-



36,536


36,536


2


2





Additional information is as follows:



Group


Shares in


group


undertakings

£   



COST


At 1 October 2022


and 30 September 2023

104




NET BOOK VALUE


At 30 September 2023

104




At 30 September 2022

104





Investments (neither listed nor unlisted) were as follows:


30.9.23


30.9.22

£   

£   



Other

36,432


36,432




Company


Shares in


group


undertakings

£   



COST


At 1 October 2022


and 30 September 2023

2




NET BOOK VALUE


At 30 September 2023

2




At 30 September 2022

2





Empowered Brands Limited (Registered number: 12658664)


Notes to the Consolidated Financial Statements - continued

for the Year Ended 30 September 2023


10.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR




Group


Company



30.9.23


30.9.22


30.9.23


30.9.22


£   

£   

£   

£   



Trade debtors

699,183


616,252


-


-




Amounts owed by group undertakings

942,890


873,819


272,164


329,780




Other debtors

331,956


199,256


29,278


39,592



1,974,029


1,689,327


301,442


369,372




11.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR




Group


Company



30.9.23


30.9.22


30.9.23


30.9.22


£   

£   

£   

£   



Finance leases  

66,796


132,846


-


-




Trade creditors

395,958


707,026


24,009


93,312




Amounts owed to group undertakings

942,889


873,818


263,993


144,518




Taxation and social security

209,333


171,262


-


-




Other creditors

1,014,330


910,212


-


30,000



2,629,306


2,795,164


288,002


267,830




12.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE

YEAR




Group



30.9.23


30.9.22


£   

£   



Bank loans

8,662,642


8,056,824




Other creditors

2,650,831


2,351,346



11,313,473


10,408,170





The bank loan is secured by fixed and floating charges over the group's assets.