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REGISTERED NUMBER: 11711383 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

EMPIRIC ESTATES LIMITED

EMPIRIC ESTATES LIMITED (REGISTERED NUMBER: 11711383)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


EMPIRIC ESTATES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTOR: S Grosskopf





REGISTERED OFFICE: Data House
43-45 Stamford Hill
London
N16 5SR





REGISTERED NUMBER: 11711383 (England and Wales)





ACCOUNTANTS: Venitt and Greaves
Chartered Accountants
115 Craven Park Road
South Tottenham
London
N15 6BL

EMPIRIC ESTATES LIMITED (REGISTERED NUMBER: 11711383)

STATEMENT OF FINANCIAL POSITION
29 FEBRUARY 2024

29.2.24 28.2.23
Notes £    £   
FIXED ASSETS
Tangible assets 5 1,301 1,531
Investment property 6 6,560,353 6,560,353
6,561,654 6,561,884

CURRENT ASSETS
Debtors 7 67 1,466
Cash at bank - 2,671
67 4,137
CREDITORS
Amounts falling due within one year 8 (5,237,846 ) (5,347,606 )
NET CURRENT LIABILITIES (5,237,779 ) (5,343,469 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,323,875

1,218,415

CREDITORS
Amounts falling due after more than one
year

9

(1,137,542

)

(1,165,600

)
NET ASSETS 186,333 52,815

CAPITAL AND RESERVES
Called up share capital 12 1 1
Retained earnings 13 186,332 52,814
SHAREHOLDERS' FUNDS 186,333 52,815

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

EMPIRIC ESTATES LIMITED (REGISTERED NUMBER: 11711383)

STATEMENT OF FINANCIAL POSITION - continued
29 FEBRUARY 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved and authorised for issue by the director and authorised for issue on 13 February 2025 and were signed by:





S Grosskopf - Director


EMPIRIC ESTATES LIMITED (REGISTERED NUMBER: 11711383)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1. STATUTORY INFORMATION

Empiric Estates 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 Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
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.

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

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

4. EMPLOYEES AND DIRECTORS

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

EMPIRIC ESTATES LIMITED (REGISTERED NUMBER: 11711383)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

5. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 March 2023
and 29 February 2024 2,933
DEPRECIATION
At 1 March 2023 1,402
Charge for year 230
At 29 February 2024 1,632
NET BOOK VALUE
At 29 February 2024 1,301
At 28 February 2023 1,531

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2023
and 29 February 2024 6,560,353
NET BOOK VALUE
At 29 February 2024 6,560,353
At 28 February 2023 6,560,353

The fair value of investment property was assessed to be unchanged by the director. The fair value was determined using open market valuation method. The director does not have a formal qualification but considerable experience in property market to ascertain the fair value with sufficient level of confidence.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Other debtors 67 1,466

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans and overdrafts (see note 10) 8 -
Taxation and social security 56,136 13,054
Other creditors 5,181,702 5,334,552
5,237,846 5,347,606

EMPIRIC ESTATES LIMITED (REGISTERED NUMBER: 11711383)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.2.24 28.2.23
£    £   
Bank loans (see note 10) 1,120,642 1,136,788
Other creditors 16,900 28,812
1,137,542 1,165,600

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 311,343 311,343

Repayable by instalments
Bank loans more 5 yr by instal 809,299 825,445
Other loans more 5yrs instal - 28,812
809,299 854,257

Other creditors includes outstanding Bounceback Loan payable of £16,900 [2023 - 28,812]. The loan is unsecured, interest free for the first year, then capped at 2.5% and guaranteed by HM Government.

10. LOANS

An analysis of the maturity of loans is given below:

29.2.24 28.2.23
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 8 -
Other loans 4,086,000 4,711,000
4,086,008 4,711,000

Amounts falling due between two and five years:
Other loans - 2-5 years 16,900 -

Amounts falling due in more than five years:
Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 311,343 311,343

Repayable by instalments
Bank loans more 5 yr by instal 809,299 825,445
Other loans more 5yrs instal - 28,812
809,299 854,257

EMPIRIC ESTATES LIMITED (REGISTERED NUMBER: 11711383)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

11. SECURED DEBTS

The following secured debts are included within creditors:

29.2.24 28.2.23
£    £   
Other loans 4,102,900 4,739,812

Loan is secured on first charge over the company's investment properties.

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 29.2.24 28.2.23
value: £    £   
1 Ordinary £1 1 1

13. RESERVES
Retained
earnings
£   

At 1 March 2023 52,814
Profit for the year 133,518
At 29 February 2024 186,332