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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE PERIOD |
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1 JANUARY 2017 TO 30 JUNE 2018 |
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FOR |
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THE EAST INDIA COMPANY HOME LIMITED |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE PERIOD |
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1 JANUARY 2017 TO 30 JUNE 2018 |
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FOR |
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THE EAST INDIA COMPANY HOME LIMITED |
THE EAST INDIA COMPANY HOME LIMITED (REGISTERED NUMBER: 06985358) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 JANUARY 2017 TO 30 JUNE 2018 |
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Company information | 1 |
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Balance sheet | 2 |
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Notes to the financial statements | 3 |
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THE EAST INDIA COMPANY HOME LIMITED |
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COMPANY INFORMATION |
FOR THE PERIOD 1 JANUARY 2017 TO 30 JUNE 2018 |
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Director: |
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Registered office: |
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Registered number: |
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THE EAST INDIA COMPANY HOME LIMITED (REGISTERED NUMBER: 06985358) |
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BALANCE SHEET |
30 JUNE 2018 |
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2018 | 2016 |
Notes | £ | £ |
Current assets |
Stocks |
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Debtors | 4 |
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Cash at bank |
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Creditors |
Amounts falling due within one year | 5 | ( |
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Net current liabilities | ( |
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Total assets less current liabilities | ( |
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Capital and reserves |
Called up share capital |
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Retained earnings | ( |
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Shareholders' funds | ( |
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The director acknowledges his responsibilities for: |
(a) |
ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006
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(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. |
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In accordance with Section 444 of the Companies Act 2006, the Income statement has not been delivered. |
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The financial statements were approved by the director on
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THE EAST INDIA COMPANY HOME LIMITED (REGISTERED NUMBER: 06985358) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 JANUARY 2017 TO 30 JUNE 2018 |
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1. | Statutory information |
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The East India Company Home Limited is a
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company's registered number and registered office address can be found on the Company Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | Accounting policies |
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Basis of preparing the financial statements |
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Going Concern |
The financial statements have been prepared on a going concern basis, not withstanding net liabilities of £408,494. The |
directors believe to be appropriate for the following reasons: |
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The East India Company Limited, the parent company has provided the company with an undertaking that it will continue |
to support the company financially for the foreseeable future and that it will not seek repayment of £482,897 currently |
owing to it in the twelve months from the date of signing the financial statements. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added tax. |
Turnover consists of revenue earned from the sale of homeware. |
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Revenue Recognition |
Revenue from the sale of homeware is recognised at the point of sale. |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving |
items. |
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Taxation |
Taxation for the period 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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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 period end and that are expected to apply to the reversal of the timing difference. |
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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. |
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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet |
date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. |
Exchange differences are taken into account in arriving at the operating result. |
THE EAST INDIA COMPANY HOME LIMITED (REGISTERED NUMBER: 06985358) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 JANUARY 2017 TO 30 JUNE 2018 |
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2. | Accounting policies - continued |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are |
charged to profit or loss in the period to which they relate. |
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3. | Employees and directors |
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The average number of employees during the period was
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4. | Debtors: amounts falling due within one year |
2018 | 2016 |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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Other debtors |
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Prepayments |
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5. | Creditors: amounts falling due within one year |
2018 | 2016 |
£ | £ |
Trade creditors |
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Amounts owed to group undertakings |
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Social security and other taxes |
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Pension liability | 82 | - |
VAT | 15,472 | 39,002 |
Accruals and deferred income |
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6. | Related party disclosures |
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The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial |
Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly |
owned subsidiaries within the group. |
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During the year the company made sales of £278,498 (2016: £229,351) to The East India Company Fine Foods Limited, a |
company in which the parent company has a significant interest. |
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7. | Ultimate controlling party |
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The company's immediate parent undertaking is The East India Company Limited, a company registered in England and |
Wales. The ultimate parent company is The East India Company Enterprises Ltd, a company registered in British Virgin |
Islands. |
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