REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED |
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29 JUNE 2022 |
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THE EAST INDIA COMPANY COLLECTIONS |
LIMITED |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED |
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29 JUNE 2022 |
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FOR |
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THE EAST INDIA COMPANY COLLECTIONS |
LIMITED |
THE EAST INDIA COMPANY COLLECTIONS |
LIMITED (REGISTERED NUMBER: 07352505) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 29 JUNE 2022 |
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Company information | 1 |
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Balance sheet | 2 |
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Notes to the financial statements | 4 |
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THE EAST INDIA COMPANY COLLECTIONS |
LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 29 JUNE 2022 |
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Directors: |
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Registered office: |
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Registered number: |
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THE EAST INDIA COMPANY COLLECTIONS |
LIMITED (REGISTERED NUMBER: 07352505) |
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BALANCE SHEET |
29 JUNE 2022 |
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2022 | 2021 |
Notes | £ | £ |
Fixed assets |
Tangible assets | 4 |
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Current assets |
Stocks | 5 |
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Debtors | 6 |
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Cash at bank |
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Creditors |
Amounts falling due within one year | 7 | ( |
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Net current assets |
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Total assets less current liabilities |
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Creditors |
Amounts falling due after more than one year | 8 | ( |
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Net assets/(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 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 EAST INDIA COMPANY COLLECTIONS |
LIMITED (REGISTERED NUMBER: 07352505) |
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BALANCE SHEET - continued |
29 JUNE 2022 |
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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 Board of Directors and authorised for issue on
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THE EAST INDIA COMPANY COLLECTIONS |
LIMITED (REGISTERED NUMBER: 07352505) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 29 JUNE 2022 |
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1. | Statutory information |
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The East India Company Collections Limited is a
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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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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 distribution of gold and silver coins. |
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Revenue Recognition |
Revenue from the distribution of gold and silver coins is recognised at the point of sale. |
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Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful |
life, as follows: |
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Fixtures, fittings and equipment - 25% straight line |
Office equipment - 20% straight line |
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Stocks |
Stock is valued at the lower of cost and net realisable value. |
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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. |
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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 year 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 |
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange prevailing at the accounting date. Transactions in foreign currencies are recorded at the date of the transactions. All differences are taken to the Profit and Loss account. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
THE EAST INDIA COMPANY COLLECTIONS |
LIMITED (REGISTERED NUMBER: 07352505) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 29 JUNE 2022 |
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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 year was
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4. | Tangible fixed assets |
Fixtures |
and | Office |
fittings | Equipment | Totals |
£ | £ | £ |
COST |
At 30 June 2021 |
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Additions |
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At 29 June 2022 |
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DEPRECIATION |
At 30 June 2021 |
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Charge for year |
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At 29 June 2022 |
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NET BOOK VALUE |
At 29 June 2022 |
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At 29 June 2021 |
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5. | Stocks |
2022 | 2021 |
£ | £ |
Stocks |
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6. | Debtors: amounts falling due within one year |
2022 | 2021 |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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Other debtors |
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Prepayments and accrued income |
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THE EAST INDIA COMPANY COLLECTIONS |
LIMITED (REGISTERED NUMBER: 07352505) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 29 JUNE 2022 |
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7. | Creditors: amounts falling due within one year |
2022 | 2021 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Social security and other taxes |
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Pension liability | 527 | 534 |
Other creditors |
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Accrued expenses |
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8. | Creditors: amounts falling due after more than one year |
2022 | 2021 |
£ | £ |
Bank loans more 5 yr by instal |
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Other creditors |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Bank loans more 5 yr by instal | 119,583 | 201,583 |
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9. | 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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10. | Ultimate parent company |
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The company's immediate parent undertaking is The East India Company Group Limited, a company registered in British Virgin Islands. The ultimate parent company is The East India Company Enterprises Ltd, a company registered in British Virgin Islands. |