ACCOUNTS - Final Accounts preparation

SAFE HOUSE HOLDINGS LIMITED - Company Information

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Registered number: 12481395

EMPYREAN PROPERTIES LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 JANUARY 2021

EMPYREAN PROPERTIES LIMITED

REGISTERED NUMBER:12481395

STATEMENT OF FINANCIAL POSITION

AS AT 31 JANUARY 2021

	2021
Note	£

Fixed assets
Investments	4	7,320,000
		7,320,000

Total assets less current liabilities		7,320,000

Net assets		7,320,000

Capital and reserves
Called up share capital		3,934,290
Share premium account		3,385,710
		7,320,000

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

P J Hobbs

Director

Date: 31 January 2022

The notes on form part of these financial statements.

EMPYREAN PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 JANUARY 2021

1.	GENERAL INFORMATION

Empyrean Properties Limited is a limited liability company incorporated in the UK and registered in
England and Wales. The registered office is 10 Temple Back, Bristol, BS1 6FL.

2.ACCOUNTING POLICIES

2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

VALUATION OF INVESTMENTS

Investments in subsidiaries are measured at cost less accumulated impairment.

EMPLOYEES

The average monthly number of employees, including directors, during the period was 2.

EMPYREAN PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 JANUARY 2021

4.	FIXED ASSET INVESTMENTS

		Investments in subsidiary companies
		£
	COST OR VALUATION
	Additions	23,320,000
	Transfers intra group	(8,000,000)
	At 31 January 2021	15,320,000
	IMPAIRMENT
	Charge for the period	8,000,000
	At 31 January 2021	8,000,000
	NET BOOK VALUE
	At 31 January 2021	7,320,000

During the period the company acquired Safe House Holdings Limited as part of a group reorganisation. Safe House Holdings Limited subsequently transferred it's investment in Indigo Food Group Limited, and its subsidiaries, to the company, at which point the company wrote down its investment in Safe House Holdings Limited.
Subsequently, the company transferred its investment in Indigo Food Group Limited, and its subsidiaries, to a new holding company, IFG Holdco Limited.

5.	RELATED PARTY TRANSACTIONS
	During the period, the Company had the following transaction with group companies: Dividends to companies with the same controlling party: £8,000,000. Dividends from companies within the same corporate group: £8,000,000.

6.	CONTROLLING PARTY

The ultimate controlling party is Mark Woodington by virtue of his majority shareholding in Empyrean Properties Limited.