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Company Registration No. 13840799 (England and Wales)
EMPIRE PROPERTIES (SOUTH WEST) LTD Unaudited accounts for the year ended 31 December 2023
EMPIRE PROPERTIES (SOUTH WEST) LTD Unaudited accounts Contents
Page
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EMPIRE PROPERTIES (SOUTH WEST) LTD Company Information for the year ended 31 December 2023
Directors
Matthew Anthony Yates Rosie Marie Yates
Company Number
13840799 (England and Wales)
Registered Office
UNIT 4 OLYMPUS BUSINESS PARK KINGSTEIGNTON ROAD NEWTON ABBOT TQ12 2SN ENGLAND
Accountants
Mrs Catherine Flannery, FMAAT, FCCA, BSc (Hons) South Devon Accounting Ltd 6 Orchard Close Ogwell Newton Abbot TQ12 6AL
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EMPIRE PROPERTIES (SOUTH WEST) LTD Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
319,578 
257,872 
Current assets
Debtors
(291)
2,519 
Cash at bank and in hand
4,321 
68,506 
4,030 
71,025 
Creditors: amounts falling due within one year
(269,879)
(242,773)
Net current liabilities
(265,849)
(171,748)
Total assets less current liabilities
53,729 
86,124 
Creditors: amounts falling due after more than one year
(98,753)
(98,753)
Provisions for liabilities
Deferred tax
(13,220)
(748)
Net liabilities
(58,244)
(13,377)
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
(58,246)
(13,379)
Shareholders' funds
(58,244)
(13,377)
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 4 September 2024 and were signed on its behalf by
Rosie Marie Yates Director Company Registration No. 13840799
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EMPIRE PROPERTIES (SOUTH WEST) LTD Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
EMPIRE PROPERTIES (SOUTH WEST) LTD is a private company, limited by shares, registered in England and Wales, registration number 13840799. The registered office is UNIT 4 OLYMPUS BUSINESS PARK, KINGSTEIGNTON ROAD, NEWTON ABBOT, TQ12 2SN, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Reducing Balance Basis
Fixtures & fittings
25% Reducing Balance Basis
Deferred taxation
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 accounts. 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 average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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EMPIRE PROPERTIES (SOUTH WEST) LTD Notes to the Accounts for the year ended 31 December 2023
4
Tangible fixed assets
Land & buildings 
Plant & machinery 
Fixtures & fittings 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 January 2023
253,935 
5,249 
- 
259,184 
Additions
- 
- 
78,363 
78,363 
At 31 December 2023
253,935 
5,249 
78,363 
337,547 
Depreciation
At 1 January 2023
- 
1,312 
- 
1,312 
Charge for the year
- 
984 
15,673 
16,657 
At 31 December 2023
- 
2,296 
15,673 
17,969 
Net book value
At 31 December 2023
253,935 
2,953 
62,690 
319,578 
At 31 December 2022
253,935 
3,937 
- 
257,872 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
(291)
2,519 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Trade creditors
1,648 
- 
Loans from directors
267,327 
241,770 
Accruals
904 
1,003 
269,879 
242,773 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
98,753 
98,753 
8
Average number of employees
During the year the average number of employees was 2 (2022: 2).
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