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REGISTERED NUMBER: 11714409 (England and Wales)



















Unaudited Financial Statements

for the Year Ended 29 February 2024

for

Empire & Co Enterprises Limited

Empire & Co Enterprises Limited (Registered number: 11714409)

Contents of the Financial Statements
for the Year Ended 29 February 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Empire & Co Enterprises Limited

Company Information
for the Year Ended 29 February 2024







DIRECTORS: M Farrell
N F Charman





REGISTERED OFFICE: 44 The Pantiles
Tunbridge Wells
Kent
TN2 5TN





REGISTERED NUMBER: 11714409 (England and Wales)





ACCOUNTANTS: APT
44 The Pantiles
Tunbridge Wells
Kent
TN2 5TN

Empire & Co Enterprises Limited (Registered number: 11714409)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Investments 4 - 18

CURRENT ASSETS
Stocks - 1,120,000
Debtors 5 454 60,067
Cash at bank and in hand 9,345 419,546
9,799 1,599,613
CREDITORS
Amounts falling due within one year 6 960,101 2,468,763
NET CURRENT LIABILITIES (950,302 ) (869,150 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(950,302

)

(869,132

)

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (950,402 ) (869,232 )
SHAREHOLDERS' FUNDS (950,302 ) (869,132 )

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 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 March 2025 and were signed on its behalf by:



M Farrell - Director


Empire & Co Enterprises Limited (Registered number: 11714409)

Notes to the Financial Statements
for the Year Ended 29 February 2024


1. STATUTORY INFORMATION

Empire & Co Enterprises 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.

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.

The functional and presentational currency of the company is pounds sterling. Monetary amounts in these financial statements are rounded to the nearest £1, except where otherwise indicated.

Going concern
The balance sheet is overdrawn at the year end and the company has not realised a profit on the current property development. It is proposed that the company will not recommence trading but it continues to pursue an ongoing dispute with the previous freeholder of the developed property. In the interim, the shareholders continue to support the company in accordance with the contractual arrangements in place between them.

Preparation of consolidated financial statements
The financial statements contain information about Empire & Co Enterprises Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Significant judgements and estimates
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

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 supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed. Where amounts are received in advance the recognition is deferred until such a time that the above conditions have been met.

Other income
Interest income, including income arising from finance leases and other financial instruments, is recognised using the effective interest method.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Empire & Co Enterprises Limited (Registered number: 11714409)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
Basic financial assets, including trade and other receivables and cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost, using the effective interest rate method.

Basic financial liabilities including trade and other payables are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Provision for liabilities
Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past event, it is probable that the company will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value using a pre-tax discount rate. The unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

3. EMPLOYEES AND DIRECTORS

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

Empire & Co Enterprises Limited (Registered number: 11714409)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024


4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 March 2023 18
Disposals (18 )
At 29 February 2024 -
NET BOOK VALUE
At 29 February 2024 -
At 28 February 2023 18

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Amounts owed by associates 200 4,235
Other debtors 254 55,832
454 60,067

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade creditors - 466
Amounts owed to associates 958,851 2,466,406
Other creditors 1,250 1,891
960,101 2,468,763

7. RELATED PARTY DISCLOSURES

As at the balance sheet date £958,851 (2023: £2,466,406) was owing to associates and included within creditors falling due within one year.The loan is interest free and repayable on demand.

As at the balance sheet date £200 (2023: £4,235) was owing from associates and included within debtors falling due within one year.The loan is interest free and repayable on demand.