Empire Guaranteed Limited - Filleted accounts

Registered number

08787368

Empire Guaranteed Limited

Filleted Accounts for the year ended

28 February 2025

Empire Guaranteed Limited
Registered number:		08787368
Balance Sheet
as at 28 February 2025

Notes			2025			2024
£				£
Fixed assets
Tangible assets	3		42,403			2,464
Investments	4		55,377			55,377
			97,780			57,841

Current assets
Debtors	5	97,615			162,394
Cash at bank and in hand		192,333			197,584
		289,948			359,978

Creditors: amounts falling due within one year	6	(230,308)			(318,827)

Net current assets			59,640			41,151

Total assets less current liabilities			157,420			98,992

Creditors: amounts falling due after more than one year	7		(26,671)			-



Net assets			130,749			98,992

Capital and reserves
Called up share capital			2			2
Profit and loss account			130,747			98,990

Shareholder's funds			130,749			98,992

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 30 September 2025

Empire Guaranteed Limited
Notes to the Accounts
for the year ended 28 February 2025


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).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Plant and machinery	over 5 years
	Right of use assets	over the term of the lease

	Investments
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

	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.

	Leased assets
	A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.

	Right-of-use assets
	Right-of-use assets are initially measured at cost, which includes the amount of the lease liability and any initial direct costs. They are subsequently depreciated on a straight-line basis over the lease term.

	Lease liabilities
	Lease liabilities are measured at the present value of lease payments, discounted at the company's incremental borrowing rate where the interest rate implicit in the lease cannot be readily determined. Lease liabilities are subsequently measured at amortised cost, with interest recognised as a finance cost.

	Short-term leases
	Short-term leases (lease term of 12 months or less) and leases of low-value assets are expensed to the profit and loss account on a straight-line basis.


2	Employees			2025		2024
Number					Number

	Average number of persons employed by the company			3		3


3	Tangible fixed assets
		Plant and machinery etc		Right-of-use assets		Total
£			£		£
	Cost
	At 1 March 2024	3,080		-		3,080
	Additions	-		62,353		62,353
	At 28 February 2025	3,080		62,353		65,433

	Depreciation
	At 1 March 2024	616		-		616
	Charge for the year	616		21,798		22,414
	At 28 February 2025	1,232		21,798		23,030

	Net book value
	At 28 February 2025	1,848		40,555		42,403
	At 29 February 2024	2,464		-		2,464


4	Investments

Other
investments
£
	Cost
	At 1 March 2024					55,377

	At 28 February 2025					55,377


5	Debtors			2025		2024
£					£

	Trade debtors			79,102		143,881
	Amounts owed by associated companies			18,513		18,513
				97,615		162,394


6	Creditors: amounts falling due within one year			2025		2024
£					£

	Trade creditors			61,516		87,449
	Other loans including associated companies			130,531		206,253
	Taxation and social security costs			21,582		17,614
	Lease liabilities			15,479		-
	Other creditors			1,200		7,511
				230,308		318,827


7	Creditors: amounts falling due after one year			2025		2024
£					£

	Lease liabilities			26,671		-


8	Application of IFRA 16 Leases

	This is the first year the company has applied IFRS 16 Leases. Under the new standard, most leases are now recognised on the balance sheet. A right-of-use asset and a matching lease liability are recognised at the start of the lease. The asset is depreciated over the lease term, and the liability is reduced as lease payments are made, with interest charged to finance costs. The company has adopted IFRS 16 using the modified retrospective approach. Comparatives have not been restated and continue to be shown under the previous standard (IAS 17). At the date of first application, the company recognised right-of-use assets of £62,353 and lease liabilities of £62,353 in respect of vehicle leases previously treated as operating leases.


9	Related party transactions

	As at 28 February 2025, the company was owed the following: £18,513 (2024: £18,513) from Empire Residential Limited This is included within debtors. As at 28 February 2025, the company owed the following: £76,508 (2024: £110,808) from Empire Guaranteed Limited This is included within creditors. All of the above loans are unsecured, interest-free and have no fixed repayment terms. The director, Mr Y Neocleous, has an interest in all of the above companies.


10	Controlling party

	At the year end the director Y Neocleous holds 100% of the share capital in the company.


11	Other information

	Empire Guaranteed Limited is a private company limited by shares and incorporated in England. Its registered office is:
	Suite 1, 1 Old Court Mews
	311 Chase Road
	London
	N14 6JS