Empower Fostering Limited - Period Ending 2021-08-31

Empower Fostering Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 7

Empower Fostering Limited

Company Information

Directors

C Beviss J Beviss J McVeigh J Watt

Registered office

Unit 2 Prockters Farm Offices West Monkton Taunton Somerset TA2 8QN

Accountants

Francis Clark LLP Ground Floor Blackbrook Gate 1 Blackbrook Business Park Taunton Somerset TA1 2PX

Empower Fostering Limited

Balance Sheet

31 August 2021

	Note	2021 £
Current assets
Debtors	4	10,727
Cash at bank and in hand		11,773
		22,500
Creditors: Amounts falling due within one year	5	(101,799)
Net liabilities		(79,299)
Capital and reserves
Called up share capital		1
Profit and loss account		(79,300)
Shareholders' deficit		(79,299)

Empower Fostering Limited

Balance Sheet

31 August 2021

For the financial period ending 31 August 2021 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 period 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 special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 14 January 2022 and signed on its behalf by:
 

......................................... J Beviss Director

Company Registration Number: 12701260

Empower Fostering Limited

Notes to the Unaudited Financial Statements

Period from 29 June 2020 to 31 August 2021

1	General information

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

The address of its registered office is:
Unit 2
Prockters Farm Offices
West Monkton
Taunton
Somerset
TA2 8QN
United Kingdom

These financial statements were authorised for issue by the Board on 14 January 2022.

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

Disclosure of long or short period

The year end for the company has been extended to 31 August from 30 June in line with the year end of its parent company.

Going concern

The directors, having made all necessary enquires and given due consideration to the current operational and financial conditions and future outlook, are satisfied that the company will continue to meet its liabilities as they fall due and that the going concern basis of preparation remains appropriate for the foreseeable future being no less than 12 months from the date of approval of these accounts.

Empower Fostering Limited

Notes to the Unaudited Financial Statements

Period from 29 June 2020 to 31 August 2021

Key sources of estimation uncertainty

The directors are satisfied, having considered the current financial position and performance of the company in light of the ongoing Covid-19 challenges that the going concern assessment (which is a critical accounting judgement) remains appropriate. In making this assessment, the directors have taken account (from the date of approval of these financial statements) of possible changes to income levels, in order to determine when, and to what extent any further cost management measures may need to be implemented.

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.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors;
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

 

Empower Fostering Limited

Notes to the Unaudited Financial Statements

Period from 29 June 2020 to 31 August 2021

3	Staff numbers

The average number of persons employed by the company (including directors) during the period, was 6.

4

Debtors

	2021 £
Trade debtors	10,254
Prepayments	473
	10,727

5

Creditors

Creditors: amounts falling due within one year

	2021 £
Due within one year
Amounts due to group undertakings	29,999
Accruals and deferred income	1,800
Other creditors	70,000
	101,799

6	Share capital

Allotted, called up and fully paid shares

	2021
	No.	£
Ordinary Shares of £1 each	1	1

New shares allotted

During the period 1 Ordinary Shares having an aggregate nominal value of £1 were allotted for an aggregate consideration of £1.

Empower Fostering Limited

Notes to the Unaudited Financial Statements

Period from 29 June 2020 to 31 August 2021

7	Related party transactions

Summary of transactions with other related parties

During the period the company was loaned £70,000 from another company in which the directors are also directors and shareholders. This loan is interest free and repayable on demand and is shown in other creditors.
 

8	Parent and ultimate parent undertaking

The company's immediate parent is Empower Family Group Limited, incorporated in England & Wales.

  These financial statements are available upon request from Companies House.