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REGISTERED NUMBER: 06929782 (England and Wales)














UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

EMPOWERING LIVES LIMITED

EMPOWERING LIVES LIMITED (REGISTERED NUMBER: 06929782)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Balance Sheet 1

Notes to the Financial Statements 3


EMPOWERING LIVES LIMITED (REGISTERED NUMBER: 06929782)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 158,955 159,524

CURRENT ASSETS
Debtors 5 8,536 6,360
Cash at bank and in hand 78,038 120,457
86,574 126,817
CREDITORS
Amounts falling due within one year 6 70,337 77,471
NET CURRENT ASSETS 16,237 49,346
TOTAL ASSETS LESS CURRENT
LIABILITIES

175,192

208,870

CREDITORS
Amounts falling due after more than one
year

7

57,771

62,244
NET ASSETS 117,421 146,626

CAPITAL AND RESERVES
Called up share capital 9 2 2
Retained earnings 10 117,419 146,624
SHAREHOLDERS' FUNDS 117,421 146,626

EMPOWERING LIVES LIMITED (REGISTERED NUMBER: 06929782)

BALANCE SHEET - continued
31 MARCH 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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 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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 July 2024 and were signed on its behalf by:




Ms B J Burbridge - Director



Ms E L Wheatley - Director


EMPOWERING LIVES LIMITED (REGISTERED NUMBER: 06929782)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Empowering Lives Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 06929782

Registered office: Grenville House
9 Boutport Street
Barnstaple
Devon
EX31 1TZ

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 represents sales of services during the year.

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 - 25% on reducing balance
Fixtures, fittings and equipment - 15% on reducing balance

No depreciation is charged on the freehold property which has not been revalued.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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.

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

EMPOWERING LIVES LIMITED (REGISTERED NUMBER: 06929782)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 50 (2023 - 41 ) .

4. TANGIBLE FIXED ASSETS
Fixtures,
fittings
Freehold Plant and and
property machinery equipment Totals
£    £    £    £   
COST
At 1 April 2023 146,239 19,150 31,266 196,655
Additions - 2,298 - 2,298
At 31 March 2024 146,239 21,448 31,266 198,953
DEPRECIATION
At 1 April 2023 - 16,173 20,958 37,131
Charge for year - 1,322 1,545 2,867
At 31 March 2024 - 17,495 22,503 39,998
NET BOOK VALUE
At 31 March 2024 146,239 3,953 8,763 158,955
At 31 March 2023 146,239 2,977 10,308 159,524

The freehold property is considered by the directors to remain at fair value with no material change in value.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 8,536 6,360

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 5,086 5,699
Trade creditors 7,736 7,645
Corporation tax 37,144 45,128
Social security and other taxes 12,740 11,368
Directors' current accounts 3,731 3,731
Accruals and deferred income 3,900 3,900
70,337 77,471

EMPOWERING LIVES LIMITED (REGISTERED NUMBER: 06929782)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans - 2-5 years 20,343 22,797
Bank loans more than 5 years 37,428 39,447
57,771 62,244

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than 5 years 37,428 39,447

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 62,857 67,943

A fixed and floating charge by Natwest PLC exists dated 22 August 2016. A registered charge by NatWest PLC also exists dated 26 January 2017 over the freehold property.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary £1 2 2

10. RESERVES
Retained
earnings
£   

At 1 April 2023 146,624
Profit for the year 116,603
Dividends (145,808 )
At 31 March 2024 117,419

EMPOWERING LIVES LIMITED (REGISTERED NUMBER: 06929782)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


11. RELATED PARTY DISCLOSURES

During the year the company rented properties from Ms B J Burbridge, Ms E L Wheatley and their respective partners at normal market rates, the total of which amounted to £106,015 (2023: £103,740).

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Ms B J Burbridge and Ms E LWheatley.