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Registration number: 10373818

Empire House Bradford Ltd



Filleted Unaudited Financial Statements

for the Year Ended 30 September 2024

 

Empire House Bradford Ltd

 

(Registration number: 10373818)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

250,616

250,800

Investment property

5

9,500,000

9,500,000

 

9,750,616

9,750,800

Current assets

 

Debtors

6

269,800

162,341

Cash at bank and in hand

 

9

38,707

 

269,809

201,048

Creditors: Amounts falling due within one year

7

(376,395)

(326,539)

Net current liabilities

 

(106,586)

(125,491)

Total assets less current liabilities

 

9,644,030

9,625,309

Creditors: Amounts falling due after more than one year

7

(7,523,245)

(7,528,801)

Provisions for liabilities

(265,931)

(265,931)

Net assets

 

1,854,854

1,830,577

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

670,685

646,408

Non-distributable reserve

 

1,184,069

1,184,069

Total equity

 

1,854,854

1,830,577

For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Empire House Bradford Ltd

 

(Registration number: 10373818)
Balance Sheet as at 30 September 2024

Approved and authorised by the Board on 25 June 2025 and signed on its behalf by:
 

.........................................
Mr J Grunfeld
Director

 

Empire House Bradford Ltd

 

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
2nd Floor - Parkgates
Bury New Road
Prestwich
M25 0TL
England

These financial statements were authorised for issue by the Board on 25 June 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Empire House Bradford Ltd

 

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Equipment

20% reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the directors. The directors use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Empire House Bradford Ltd

 

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Empire House Bradford Ltd

 

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 October 2023

295,714

295,714

At 30 September 2024

295,714

295,714

Depreciation

At 1 October 2023

44,914

44,914

Charge for the year

184

184

At 30 September 2024

45,098

45,098

Carrying amount

At 30 September 2024

250,616

250,616

At 30 September 2023

250,800

250,800

5

Investment properties

2024
£

At 1 October 23

9,500,000

At 30 September 24

9,500,000

Fair value is based on a valuation by an independent valuer.

The historical cost of the property is £8,050,000.

 

Empire House Bradford Ltd

 

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

6

Debtors

Current

2024
£

2023
£

Trade debtors

8,793

10,370

Prepayments

9,439

2,560

Other debtors

251,568

149,411

 

269,800

162,341

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

126,624

135,000

Trade creditors

 

16,080

10,372

Accruals and deferred income

 

227,198

171,761

Other creditors

 

6,493

9,406

 

376,395

326,539

Creditors include bank loans which are secured on the freehold property of the company of £119,444 (2021 - £175,444).

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

7,523,245

7,528,801

Creditors include bank loans which are secured on the freehold property of the company of £4,576,717 (2021 - £4,728,317).

 

Empire House Bradford Ltd

 

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

5,409,381

5,414,937

Other borrowings

2,113,864

2,113,864

7,523,245

7,528,801

2024
£

2023
£

Current loans and borrowings

Bank borrowings

125,000

125,000

Bank overdrafts

1,624

10,000

126,624

135,000