Registered number
08787368
Empire Guaranteed Limited
Filleted Accounts for the year ended
29 February 2024
Empire Guaranteed Limited
Registered number: 08787368
Balance Sheet
as at 29 February 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 2,464 -
Investments 4 55,377 55,377
57,841 55,377
Current assets
Debtors 5 162,394 90,499
Cash at bank and in hand 197,584 146,742
359,978 237,241
Creditors: amounts falling due within one year 6 (318,827) (231,936)
Net current assets 41,151 5,305
Net assets 98,992 60,682
Capital and reserves
Called up share capital 2 2
Profit and loss account 98,990 60,680
Shareholder's funds 98,992 60,682
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Y Neocleous
Director
Approved by the board on 26 November 2024
Empire Guaranteed Limited
Notes to the Accounts
for the year ended 29 February 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Plant and machinery etc
£
Cost
Additions 3,080
At 29 February 2024 3,080
Depreciation
Charge for the year 616
At 29 February 2024 616
Net book value
At 29 February 2024 2,464
4 Investments
Other
investments
£
Cost
At 1 March 2023 55,377
At 29 February 2024 55,377
5 Debtors 2024 2023
£ £
Trade debtors 143,881 71,986
Amounts owed by associated companies 18,513 18,513
162,394 90,499
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 87,449 69,099
Amounts owed to associated companies 206,253 149,179
Taxation and social security costs 17,614 12,458
Other creditors 7,511 1,200
318,827 231,936
7 Controlling party
At the year end the director Y Neocleous holds 100% of the share capital in the company.
8 Other information
Empire Guaranteed Limited is a private company limited by shares and incorporated in England. Its registered office is:
1 Old Court Mews
311 Chase Road
London
N14 6JS
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