Empire Studios Ltd - Accounts to registrar (filleted) - small 23.2

REGISTERED NUMBER: 11107096 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2022

for

Empire Studios Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

C McDougall

J L McLeod-Ross

REGISTERED OFFICE:

Hartley Court House Hartley Court Rd

Three Mile Cross

Reading

Berkshire

RG7 1NJ

REGISTERED NUMBER:

11107096 (England and Wales)

ACCOUNTANTS:

We`ll Mind Your Own Business LTD

39 Long Acre

London

WC2E 9LG

FIXED ASSETS

Intangible assets

4

10,348

13,470

CURRENT ASSETS

Debtors

5

84,374

6,159

Cash in hand

11,624

16,246

95,998

22,405

CREDITORS

Amounts falling due within one year

6

155,452

72,484

NET CURRENT LIABILITIES

(59,454

)

(50,079

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(49,106

)

(36,609

)

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

(49,107

)

(36,610

)

(49,106

)

(36,609

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 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 28 September 2023 and were signed on its behalf by:

J L McLeod-Ross - Director

1.	STATUTORY INFORMATION

Empire Studios Ltd 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.	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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured

at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of five years.

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.

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

Thus, the directors continue to adopt the going concern basis of accounting in preparing financial statements

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - NIL).

4.	INTANGIBLE FIXED ASSETS

Patents

and

licences

£

COST

At 1 January 2022

and 31 December 2022

98,400

AMORTISATION

At 1 January 2022

84,930

Amortisation for year

3,122

At 31 December 2022

88,052

NET BOOK VALUE

At 31 December 2022

10,348

At 31 December 2021

13,470

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.22

31.12.21

£

£

Other debtors

78,824

4,109

Directors' current accounts

5,550

2,050

84,374

6,159

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.22

31.12.21

£

£

Trade creditors

1,738

70,884

Tax

1,873

-

Other creditors

150,941

-

Accruals and deferred income

900

1,600

155,452

72,484

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the beginning of the year, the directors owed the company £2,050. During the year further loans were provided and incurred expenses on behalf of the company. At the year-end, the balance of £5,550 was due from the directors to the company.