Company No:
Contents
Note | 2024 | 2023 | ||
£ | £ | |||
Fixed assets | ||||
Investments | 3 |
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4,592,806 | 4,664,980 | |||
Current assets | ||||
Debtors | 4 |
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Investments | 5 |
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Cash at bank and in hand |
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2,406,044 | 2,331,602 | |||
Creditors: amounts falling due within one year | 6 | (
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Net current liabilities | (4,172,142) | (4,342,601) | ||
Total assets less current liabilities | 420,664 | 322,379 | ||
Net assets |
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Capital and reserves | ||||
Called-up share capital | 7 |
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Profit and loss account |
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Total shareholders' funds |
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Directors' responsibilities:
The financial statements of Empty Billy Limited (registered number:
David William Lloyd
Director |
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.
Empty Billy 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 C/O Bishop Fleming Llp, 10 North Place, Cheltenham, GL50 4DW, United Kingdom. The principal place of business is 93 Albert Embankment, Vauxhall, London, SE1 7TY.
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 £.
The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. The debenture creditors will not be called at detriment to the company. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.
Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
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 Statement of Financial Position date.
Investments comprise debt instruments, recognised as basic financial instruments and measured at amortised cost in accordance with the provisions in Section 11. Investments due to mature within 1 year of the balance sheet date are recognised as current asset investments.
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.
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.
2024 | 2023 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year |
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2024 | 2023 | ||
£ | £ | ||
Other investments and loans |
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Listed investments | Total | ||
£ | £ | ||
Cost or valuation before impairment | |||
At 01 April 2023 |
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Additions |
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Disposals | (
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Investments moved to current asset investments | (
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Amortisation | (15,418) | (15,418) | |
At 31 March 2024 |
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Carrying value at 31 March 2024 |
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Carrying value at 31 March 2023 |
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2024 | 2023 | ||
£ | £ | ||
Prepayments and accrued income |
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2024 | 2023 | ||
£ | £ | ||
Investments at amortised cost |
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2024 | 2023 | ||
£ | £ | ||
Amounts owed to related parties |
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Amounts owed to directors |
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Accruals |
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Taxation and social security |
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Other creditors |
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2024 | 2023 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
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At the balance sheet date £9,792 (2023: £159,852) was owed by the company to a director, included in other creditors. The loan is interest-free, with no fixed date for repayment.